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The Great Depression – Causes and Effects

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S: Great Depression Mixbook

FC: The Great Depression – Causes and Effects

1: The cause of the Great Depression can be traced back to the 1920's. In the 20’s stock prices were booming. Wealthy people could afford many luxuries. But this unequal distribution of wealth added to the stock market crashing in part caused the Great Depression. | Besides this, banks were failing because many could not afford to pay back debts they owed and therefore borrowed more. People who thought their money was secure in banks soon found they were wrong. All of this caused nationwide panic which further contributed to the Great Depression.

2: The Great Depression lasted over a 12 year period from 1929 until 1941.

3: Unemployment reached its highest in the country's history during the Great Depression. 25% of the country's population were unemployed. There were 15,000,000 people left jobless. People vied for jobs at unemployment offices. | Many people were left homeless and could not afford food so they would go where they could find food. People stood in bread lines and went to soup kitchens.

4: Farmers were greatly affected by the depression. Along with having to deal with poverty, farmers also faced some of the worst dust storms ever recorded. Known as the Dust Bowl, these storms were caused by years of drought. | Families that once were wealthy now found themselves impoverished. Many had to sell their homes and possessions in order to buy food to keep them alive.

5: When Franklin Delano Roosevelt was elected President in 1932, he sought to fix the problems of the Great Depression with his program called the New Deal. This was a series of 15 relief and recovery measures that Congress approved of. Eventually, America recovered from the worst economic condition it had ever faced.

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  • By: Derek B.
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  • Title: The Great Depression – Causes and Effects
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  • Published: over 9 years ago