![]() ![]() On April 14, 1935, the worst dust storm happened. There are estimates about how many people died from this condition, but how many died from this problem is not clear. Some people had trouble breathing because of the dust. The dust got into houses and made them dirty. It was like a big cloud that covered the sky and then became a blanket on the ground. In some areas, dust made it hard to see the sky. Ships in the Atlantic Ocean were covered in dirt. These storms would carry dirt from the Great Plains and make it go all the way to Washington and New York City. People who were starving lost their food and animals.ĭust storms happened during the Dust Bowl. There are 35 million acres of land that could not be farmed anymore, and another 125 million acres of land was losing its topsoil. A series of drought years made the water shortage worse. There were terrible dust storms.Ī terrible drought went through the Southern Plains in 1930. The Dust Bowl was a dry time in the Southern Plains. He also thought that it was not the government’s responsibility to create jobs or provide economic relief. Hoover believed that the government should not do work for people but instead let them find jobs. Banks also needed to get rid of loans they couldn’t pay back by selling them. The idea was that the banks would then give loans to businesses, hiring their employees back. In this dire situation, Hoover’s administration tried to help banks with government loans. This made it hard for banks to give out loans.Ī lot of banks closed in the United States. In the fall of 1930, people didn’t have confidence in their banks and took their money, so they had enough cash. There were more lines at soup kitchens and more homeless people in America’s towns and cities. People were buying fewer things because they had less money. Meanwhile, America’s industrial production dropped by 50%. That number increased to 6 million in 1931. By 1930, 4 million Americans were looking for work, and they could not find it. President Hooverĭespite promises from Herbert Hoover and other leaders, the Great Depression worsened. But the global adherence to the gold standard helped spread economic problems from America worldwide, especially Europe. The number of foreclosures and repossessions was high. Many Americans who had to borrow money to buy their homes ended up in debt. People with jobs worked more, but they made less money, and people could only afford fewer things with their lower wages. Other businesses then had less business because people don’t buy things when they are afraid of them. ![]() Millions of people lost money, and those who had borrowed money got wiped out completely.Īfter the stock market crashed, people were scared. The day this was happening was called “Black Thursday.” People traded a record 12.9 million shares that day, and it is still considered one of the worst days in history.įive days later, on October 29th, or “Black Tuesday,” sixteen million shares were traded. This happened because there were too many. On October 24, 1929, people started to sell the shares they were buying for more than what they were worth. Then there was an economic downturn in the agriculture sector, meaning that there were not enough crops being grown or low food prices. The stock prices were higher than they should have been because people didn’t have enough money for goods. Banks had large loans that they could not sell on the market. The stock market started to go down in the 1920s. People had stock exchanges where they could buy and sell stocks, but some people were doing things like putting their savings into the stock market for no good reason, which led to a big crash later on. economy was excellent, and people made a lot of money from stocks in the 1920s. His New Deal offered a different approach to solving the Great Depression. Franklin Roosevelt became president in 1932. President Herbert Hoover tried to fix this by using the Reconstruction Finance Corporation, but these measures did not work well enough. By 1933, there were 25% unemployment rates. The stock market crash in October 1929 was the beginning of the Great Depression. ![]() Economists and historians often say that this is the worst event in modern history. It lasted until World War II ended, which was 1946. The Great Depression started with the stock market crash of 1929. The Great Depression was the worst economic event in history. One of the most important things it did was make people want to get new jobs.It started in the United States and affected almost every country.The Great Depression was a worldwide economic downturn that lasted for many years. ![]()
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