FC: The Great Depression Abbie 13587 MWF 10:00 History
1: What caused the great depression? Confidence in economic prosperity encouraged margin buying. When investors suddenly sold their shares and jolted the stock market, financial panic set in. All at once, people tried to get their money out of the banks. Throughout the 1930s over 9,000 banks failed. Thousands lost their savings.
2: The depression lasted ten years. From 1930 to 1939.
3: By 1933 about 15 million people were unemployed. Life during the depression was difficult. Since the government provided little assistance, people had to rely on one another. Charitable organizations including the Salvation Army and the Red Cross tried to provide relief for the needy. Hunger and homelessness were serious problems. Many people put off getting married and having children because they did not have the means to provide for their family.
6: Nearly everyone was affected by the great depression. Workers were laid off. African Americans were discriminated against, so they were the first to be unemployed. Men in general were laid off more than women, because women were cheaper to hire. Families either became closer or they broke up. Mothers were devastated as they could not afford to feed their children.
7: The Great Depression came to an end after Roosevelt came into office. He set up the New Deal program. Some programs resulted in regulated wages and prices, and employed people. World War II was a great boost to the economy. Industries were started making supplies, and many went off to war.