The+Great+Depression

Emily Groth, Catherine Wernig, Heather Leair

The Great Depression: 1929-1939

1929 Black Tuesday On [|October 24th, 1929] the stock market crashed. This day was known as Black Tuesday. Nearly 12.9 million shares were traded on that day causing the stock market to lose value drastically. Un employment went from 8 to 15 million, roughly more than 25% of the nation. Incomes fell by 20-50% while debts remained the same. By 1933 about $140 billion in deposits had been lost. In the first 10 months of the depression nearly 9,000 would close. Suicide rates increased from 14% to 17%. media type="youtube" key="RJpLMvgUXe8&hl=en&fs=1" height="344" width="425"

[|1930-1936 The Dust Bowl] During World War I, the government told farmers to plant wheat to win the war. Farmers made a good profit from the wheat because it was in such demand that it was the only crop planted for several years. The land was so over planted that eventually all the topsoil was exposed. Unfortunately, a drought dried up all the exposed topsoil and it became dust. Over the next 6 years about 75% of the country was plagued by huge dust blizzards. These huge dust clouds would range from 2,500 to 6,000 feet high and about 850,000,000 tons of topsoil was blown of the plains. During the dust bowl, about 2.5 million people left their homes to start a new life.

[|The Social Security Act] and [|The National Labor Relations Act of 1935] The Social Security Act of 1935 was one of the main turning points of the Great Depression. The Act provided retirement benefits for the elderly and finical aid which are sponsored by federal government for the unemployed. Another important act was the National Labor Relations Act of 1935. This act was passed to protect the rights of employees to organize labor unions, the right to sit down and compromise, and the right to take part in activities to support their demands.



1939 World War II begins As the depression was ending, the United States was borrowing and spending about $1 billion to build armed forces. The start of World War II led to the end of the great depression. With the demands for products such as weapons, steel, and wheat; job options increased. The unemployed were able to find more permeate jobs in industrial industries, farming, and armed forces. With new jobs came an increase in money circulation and the improvement of the economy. **This was the longest and the most severe depression that the industrialized western world had ever experienced.** media type="youtube" key="HoptH8TqasE&hl=en&fs=1" height="344" width="425"