BC: No More Depression
FC: The Great Depression
1: The Great Depression started in the 1920s when stock market prices started rising rapidly. Things got to the point where | businesses were having trouble staying both competitive and profitable. On Tuesday October 29, 1929 the stock market crashed. People started spending less and saving more. This caused unemployment to increase.
2: After the stock market crashed 9,000 banks failed in the 1930s. People with money in these banks lost all of there savings. The banks that survived were unsure about the situation and were not as willing when giving out loans.
3: A drought occurred in the 1930s also. People were not able to pay there taxes and other debts and they had to sell their farms and keep no profit for themselves.
4: Credit availability began to tighten and loans were called in. People who took advantage of the credit in the 1920s found themselves unable to make monthly payments. | The Great Depression affected many people everywhere. There was no welfare system for unemployed workers. Between 1929 and 1933 income fell 53%. The unemployment rate was 25% by 1933.
5: Unemployment during the Great Depression was greater than it has ever been. People all over were losing there jobs and ways to make money for their families. | The Great Depression affected children greatly., Food supplies were slow so children had to learn how to survive off of powdered milk, dried beans, and potatoes. Starvation was growing throughout the world and people began to fight over food in garbage cans. Children at a very young age had to work on farms. Most children had to leave school. Some had to live in houses with heat. | People lost their jobs, their money, their food, and sometimes there families. Some people couldn't afford houses and had to live out on the streets in bad conditions.
6: The depression affected everyone in someway.
7: Programs were created to help people buy food and things that they need by regulating prices and wages. People got hired as artist, writers, and laborers. Social security helped those who were too old to work and lost all of their savings.
8: People started to slowly get there jobs and money back, houses started getting fixed and food was bought. | During 1934 countries soon started to get out of the Great Depression. Unemployment rates started to decrease.
9: The Great Depression ended around the start of World War II. Men were pulled out of their jobs to serve in the war. This created openings for those who did not have a job already. | By 1945, the Great Depression was over.