THE GREAT DEPRESSION

THE GREAT DEPRESSION The year of 1929 began a time period of horror in America. It was the beginning of the great depression. A time in which many lost their jobs,became homeless,and went hungry. Many people had to live off the nutrition of weeds or some worked fifty - five hours and only earned seventy - five cents. The cause of the depression was the stock market crash of 1929 known to investors as Black …

…This year and next year are the worst of the depression GNP falls a record 13.4% Unemployment falls another 23.6% Congress creates the reconstruction finance corporation Congress passes the federal home loan bank act Congress passes the glass steagall act of 1932 1933 Roosevelt inaugurated Third banking panic occurs Congress passes the Emergency Banking Bill,The farm credit Act,and National Industrial Recovery Act 1934 Gnp rises 7.7% Unemployment falls 21.7% 1935 GNP rises 8.1% Unemployment falls 20.1% 1936 GNP rises 14.1% Unemployment falls to 16.9% Word Count: 482