The Great Depression.
The Great Depression began because there was too much buying on credit. People borrowed what they couldn't pay back. They had no way to make up this money. So they started to lose money from not being payed back. Farmers overproduced crops. This caused the prices to drop. There were speculations in the stock market. Banks had collapsed when the stock market crashed. The banks had invested large amounts of money into it; therefore they lost a ton of money. When the people heard about this they rushed to the banks to withdraw their money, the line was very long. By the people withdrawing from banks it made it collapse. The people who did get their money back wouldn't put it back in the banks. They were very lucky to even get it back.
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Black Tuesday
October 29, 1929. Panicked sellers traded nearly 16 million shares on the New York Stock Exchange. That's about four times their normal volume at a time. This is often cited as the beginning of the Great Depression. Prices began to fall slightly as investors started to take profit. October 23 the market fell -6.3%. October 24 Black Thursday the selling reached a critical mess by Black Tuesday it turned into a panic. When the volume got high it delayed the ticker tape for more than an hour this caused confusion and anxiety for many people. Some exchanges were really confused, and overwhelmed that they had to close early. From Black Thursday to Black Tuesday stocks had lost more than 26 billion and over 30 million shares traded.
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What happens when the stock market crashes?
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After the stock market crashes many went without jobs. By 1932, unemployment in the nation had reached 13 million. One out of four Americans were unemployed. Over 9,000 banks had closed. Millions on top of millions lost their savings and their cash. Even if you were this big corporate manager you'd be walking the streets looking for some type of work. In West Virginia workers had been poor before the depression, but now it was extremely worse. Miners and factory workers had little say over wages. Others had difficulty obtaining any job at all. Economy had been very bad. Many workers would do almost anything to earn a living. Some companies took advantage of this situation. They paid low wages and gambled with the safety and health of their employees. Men, women, and children were kicked out of their homes, they eventually made shacks collected of their junk such as paintings, cloths, furniture, and many other items.
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The Dust Bowl
This was also known as the dirty thirties. This was a period of severe dust storms. It caused great damage to the ecology and agriculture. Severe drought and a failure to apply dry land farming methods to prevent wind erosion. For eight years dust blew on the Southern plains. Children wore dust masks to and from school, women hung wet sheets over windows in an event to stop the dirt. Farmers were upset because their crops were flying away and they couldn't do anything about it. This lasted about a decade. The northern plains weren't badly effected
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Franklin Roosevelts " New Deal "
He gathered a group of advisors from all over the country to make recommendations to impose W the economy. With their help congress passed a series of laws that became know a as the New Deal. Purpose of this was to bring about economic recovery, relieve suffering of the unemployed, reform defects In the economy, and Improve society. First objective was economic recovery. Day after his inauguration he closed all banks until each could be investigated for soundness. They were allowed to re- open. Other recovery projects were to help farmers and manufacturers. This program also included programs to improve people's lives.
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Eleanor Roosevelt
she was the first women writer and humanitarian. she had a very tough life, but was able to make it through te times. many of the peop,e in the u.s. she was the longest-serving First Lady of the u.s. she held a post on March 1933 to April 1945 while her husband Franklin D. Roosevelt had his four year term as presidents.
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1930's breadline
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After the stock market crashed very little people had money, at this point it didn't really matter about it anymore. People were kicked out of their homes because they couldn't pay the rent. They were kicked out on the streets and made shacks of their personal belongings. They had no food, or water. That's when the government started the 1930's breadline. They gave you very little bread probably enough for one or two bites. Along with a small bowl of soup, and coffee. Sometimes they'd even hand out a doughnut. These breadlines gave people enough food to still be alive. It wasn't much, but they had to keep them alive because they had already lost a lot of their population.
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Jesse Owens
The Wizard of Oz
the movie wizard of oz was a great movie built in the 1930's, and it tells about when the movie was made what the people would have to go through. they would have to justify what the movie was about in the Great Depression. the movie actually tells a little bit about the Great Depression, what was going on that was pretty crazy to think about.
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