Boom To Bust

The Great Depression
People waiting in line to cash in their stocks.

Towards the end of the ‘20s people started learning about this all new innovation to investing known as purchasing stock. There was also another big spending innovation at the time and it was known as buying on credit. This is very similar to a credit card where you could put a little bit of money down at first and fully pay it off later. So many people would use credit to buy stock. At first this seemed like a great idea that could make thousands of dollars. But when people realized that many of the stocks were failing and people decided they were all going to withdraw all the money they have earned from their stock because they did not want to loose all the money they invested. So this was a very good idea, but this good idea was had by almost every stock owner. Bankers would tell people to only withdraw the amount of money you need at the time or else something drastic will occur. So when everyone withdrew their stocks the banks could not handle all of it and did not have enough money to reimburse the people. This led many U.S banks to go under or fail.This put many people in financial and mental depression. These citizens were put on the streets with no jobs for years. Stockbrokers were very flustered with all of this news as this meant not only a lot of more work for them and they could probably be out of a job in no time.

Farmers are preparing crops.

At this same time in the south many farmers were vastly struggling. For farmers the great depression meant the vast decrease in crop prices

Home Life

People had to make do of what they had and their is not better example of this than a hooverville. People used objects such as cardboard,newspaper and all other types of normal waste to make shelters for themselves.

Leisure Time
People standing outside of a movie theater which was a very popular attraction in the great depression era.

Even though the american citizens of the 1920's and 30's did not have much money they still liked to have a good time. One of the biggest forms of entertainment in the 20s and 30s was the theater.

Factories were back in swing when FDR took over as president.

After the great depression america was still in depression until the election. When Roosevelt was put in office bushiness went back to their booming ways. He soon tried to create the "new deal" the new deal had three main goals. They were provide relief, promote economic recovery, and reform the economic system to make sure that a depression this bad never occurs again.

Role of Government in the 1930s
President Franklin Delano Roosevelt.

When Roosevelt took over he had one goal only. His one goal was to pull the united states out of the hole they were in and place them back at the top. What really drove people into casting their election votes on him was his promise of a new deal. He made people want to reinvest hope in this country. These American citizens felt that they were now safe from depression.

Stockbrokers accepting calls for stock and selling stocks.

Before the infamous crash of the stock market in the late 1920s stockbrokers were at the top of the world many people were buying stock and selling stock. This gave these men jobs. But when the stock market crashed and banks failed bankers and stockbrokers were out of jobs and some might have even been put on the streets.

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