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Great Depression pics and facts
It lasted from 1929 to 1941, 12 years.
Nearly 50% of the children of the great depression did not have adequate food, shelter, or medical care.
In 1930 President Hoover claims that “the worst was over” this statement appeared to be 11 years too early.
Bums lived in villages called “Hovertowns” as a sign of anger against the president’s inability to get the economy back on track.
The first week of the depression the stock market lost $30 billion dollars, more than the US government spent in WW2. By the end of the depression the stock market fell 89%.
750,000 farmers declared bankruptcy.
The Empire State Building and the Golden Gate Bridge where created during this time and created some jobs in America.
The great depression unemployment rate reached 24.9% Toledo, Ohio got hit especially hard and reached an unemployment rate of 80%
Every major country abandoned the gold standard in order to print more money.
WW2 eventually pulled the US out of the depression by creating new jobs.
By 1929, 1% of Americans controlled 40% of the wealth in this country.
The Dust Bowl years spanned 1930-1936, when a million acres of farmland across the Plains became worthless due to severe drought and overfarming.
After the stock market crash in 1929, it took 27 years to reach pre-crash levels.
In 1939, the unemployment rate in America had dropped from a high of 25% to 15%, largely due to the New Deal programs introduced by Franklin D. Roosevelt.
Tuesday, October 29, 1929 is known as Black Tuesday because of the plunge the stock market took, and it largely symbolizes the start of the Great Depression, though the economy had been in decline for at least six months prior to that date.
By 1933, more than 11,000 of the nation’s 25,000 American banks had shuttered, victims of the Great Depression.
Hoovervilles were the catchphrase for the shantytowns that cropped up across the United States, as homeless Americans improvised with scraps, abandoned cars, and packing crates.
At its highest point during the Great Depression, unemployment reached 25% (in 1933).
Herbert Hoover, the 31st President of the United States, served from 1928-1932, and many economists cite his lax monetary and fiscal policies as a
cause of the Great Depression
Franklin D. Roosevelt’s “First Hundred Days”
took place in March, April, and May of 1933 and marked his attempt to stem the economic bloodbath that the Great Depression had become.
The Federal Deposit Insurance Corporation (FDIC) was formed in 1934 to insure deposits in banks and restore customers’ faith in the American banking system.
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