FC: The Great Depression | by: Austin at125574
1: What caused the Great Depression? | The stock market crash of 1929 was one of the major causes of the Great Depression. Stockholders lost more that $40 billion dollars during the crash, and eventually regained some of it, but it wasn't enough. Another cause was banks failing. In the 1930's over 9,000 bans failed which led many people who had bank savings to lose them. People also stopped buying products. When the banks failed and the stock market crashed, a lot of people lost money which led them to not be able to purchase anything. This led to major unemployment. In 1930, the government created the Smoot-Hawley Tariff to help protect American companies. However, this causes a greater tax on imports, which meant less trade between America and other countries. Finally, there were the drought conditions. This causes many farmers to have to sell their farms without any profit to them because they were so far into debt.
2: How long did the Great Depression last? | The Great Depression lasted about 9 years-from 1930 to 1939. During this time, the prices of stocks fell 40%, 9,000 banks went out of business and 9 million savings accounts were wiped out, 8,600 businesses failed and wages were decreased by about 60%, and the unemployment rate went from 9% to about 25% causing about 15 million people unemployed.
3: What was life like during the Great Depression? | Life was rough during the Great Depression. Many people lost money with the banks failing. Others were laid off, making no money to support their families or themselves. Some people couldn't even buy themselves food, so they had to go to bread lines or soup kitchens.
4: Who was affected by the Great Depression? | Everyone in one way or another was affected by the Great Depression. The rich people obviously struggled less than the already poor, but still everyone struggled in some way. Some farmers were forced to sell their land, furniture, barns, and homes for no profit to them to help pay off their debt and taxes. People who were poor before the depression struggled even more than before to feed and make money for themselves.
5: How did the Great Depression end? | FDR's New Deal helped to end the Great Depression. Roosevelt worked with the government passing bills to help the unemployed and others who were struggling. Inflating the money supply also helped end the depression. Finally, deficit spending helped the Great Depression come to an end.
6: A school during the Great Depression | One of many dust storms during the Great Depression.
7: Christmas dinner for a family during the depression. | The wife and children of a sharecropper.