THE GREAT DEPRESSION a dark time in american history

The Great Depression

The great depression Was the most terrible and unproductive time in US history. Through the ten years of the great depression, nearly 15 million people were out of a job and or homeless. People say it was the giant stock crash of 1929, but their only half right here is what really happened, and what happened to fix it.

Here is a long but well explained video.


During the summer, America entered a normal recession as prices dropped, meaning that production, and unsold goods piled up. Stock prices continued to rise, and by the fall prices had raised to levels that couldn’t be justified by future earnings. The bubble finally burst on October 24, 1929. A record breaking 12.9 million shares were traded on what was known as “Black Thursday”. Five days later, some 16 million shares were traded, giving the name “Black Tuesday”. Millions of stocks were now worthless, and people who bought stocks on margin were wiped out completely. Consumer confidence vanished, and the down turn in investment slowed production and factories and businesses started firing their workers.


By 1930, about 4million people could not find the jobs they needed, and that number rose to 6 million by 1931. The industrial production in the meantime dropped by half. Soup kitchens and bread lines became more and more common in American towns and cities. Farmers couldn’t afford to harvest crops, so they let them rot in fields while elsewhere people starved.

In the fall of 1930, investors started to lose confidence in the banks, and forced banks to liquidate loans for demanded deposits in cash. In early 1933 thousands of banks had closed their doors.


Hoover was a republican who had formerly served as U.S. Secretary of Commerce. He had believed that the U.S. government should not handle be in the hands of the people’s problem of the great depression. However, in 1932, with the country in the heart of the depression, and 20% of the U.S. unemployed, Franklin d. Roosevelt had won the election. By inauguration, all states had forced their remaining banks to close down. Not only that but U.S. treasury couldn’t afford to pay for government workers. Franklin D. Roosevelt responded to this by creating the new deal, which helped to create the FDIC, and the SEC, to help eventually end the great depression.

Created By
John Marcucci



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