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Transcript of Great Depression
The worst part of the Great Depression was human suffering.
As much as one-fourth of the labor force in industrialized countries was unable to find work.
The United States established the Securities and Exchange commission to regulate new stock issues and stock market trading practices.
When farmers had less and less money to spend the banks began to fail at an alarming rate.
After the crash during the first 10 months, 1930,744 banks had failed.
It's estimated that 4,000 banks failed during the one year of 1933
In 1929 the stock market in New York city crashed bad and became a down word spiral till 1939.
13 to 15 million workers were unemployed and millions were homeless.
The stock market fell 20% and lost between 8 and 9 billion dollars.
The Great Depression Hits Farms
During WW1 farmers struggled to grow crops and livestock.
When the prices fell they tired to produce more so they can pay off their debts, taxes and life expenses.
In the early 1900 many farmers went bankrupt and lost there farms.
Many farmers were mad at the government and wanted them to step in and save their families and farms.