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The Great Depression
Transcript of The Great Depression
Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, 1929. In fact, it was one of the major causes that led to the Great Depression. Two months after the original crash, stockholders had lost more than 40 billion dollars. Even though the stock market began to regain some of its losses, by the end of 1931, it just was not enough and America entered what is called the Great Depression.
The Great Depression
Who were some of the people involved in the Great Depression?
Franklin Roosevelt came up with the New Deal programs and policies focused on immediate relief, long term recovery, and reform in order to revive the economy. Herbert Hoover helped guide the U.S. out of the Great Depression. After the stock market crashed, Hoover encouraged Americans not to panic and promised there would be no recession.
What ended the Great Depression?
A plan created by Calvin Coolidge's, called Charles Dawes, to save the Europeon economy and enrich the U.S. by adjusting the payment of Germany's war reparations from World War 1.
Affects of the Great Depression
-many people lost their jobs
-teenagers would leave their families and find their own life because they felt a burden or ashamed of their families unemployment and poverty
-African-Americans conditions worstend due to the fact that the farmers they worked for lost their land
-African-Americans lost a lot of lives
-children died because of undernourishment
-farmers lost their land
What was the Great Depression?
The Great Depression was the deepest and longest-lasting economic downturn in the history of the western industrialized world. In the U.S. it started soon after the stock market crash of October 1929, which sent Wall Street into panic and wiped out million of investors.