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The Great Depression

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FC: The Great Depression by Chris Uhrich

1: The Great Depression was caused by several events. The sudden collapse of US stock market prices on October 29, 1929, known as Black Tuesday, was one of the biggest causes. Reduction in clearing across the board was another cause of the Great Depression. Another cause was bank failures. Over 9,000 banks failed during the 1930's. American economic policy with Europe also contributed to the cause of the Great Depression. One other cause of the Great Depression was drought conditions.

2: The Great Depression lasted for about ten years. It took place all through out the 1930's. This was the biggest stock market crash in U.S. history.

4: Life during the Great Depression was very rough. During this time about 9,000 banks failed and 9 million savings accounts were wiped out. Approximately 8,600 businesses also failed. The unemployment rate went from 9% to 25%. This left about 15 million people without jobs which resulted in widespread hunger and poverty. During the Great Depression the prices of stock fell 40%.

7: The Great Depression effected everyone in a way. It started in the U.S. but spread rapidly to almost every country in the world. The Great Depression had an effect on both the rich and poor. Farmers were greatly effected because of crop prices falling by about 60%. While unemployment rose to about 25% in the U.S. it rose as high as 33% in other countries.

8: The Great Depression ended in the late 1930's which was when World War II started. Some economists think that government spending on the war helped recover from the Great Depression. Although others disagree, they say that it did help in reducing unemployment. By 1941 the last effects from the Great Depression were finally gone.

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  • By: Chris U.
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  • Title: The Great Depression
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  • Published: about 7 years ago