Today was another work day.
People believed there were many causes for the Great Depression:
On Tuesday, October 29, 1999 the stock market crashed (black tuesday).
Also, over 9,000 banks had failed. This caused many people to lose their savings, and other banks to not be able to trust that they could give loans to their clients.
In this time, people felt the need to stop buying as many items. Their wage was less so the items seemed more expensive. This caused for less items to be produceed, and the companies to need less people to help produce theese items. People began to lose the items they had bought through installment plans when they lost their jobs. Some time in the thirties, more than 1/4 of the people were unemployed.
America then created a Smooth-Hawley Tariff on imported goods to help the compinies by raising taxes on imported goods. This causes less countries to trade items with the U.S..
From 1930-1936, farmers experienced the 'Dust Bowl' wich was an extreme drought, and caused them to move to urban areas, and formed small towns on the outsides of cities where many hobos lived.
The Great Depression started in 1929, and ended in 1941. Franklin Delano Roosevelt was elected President in 1932. He signed into law the "New Deal" which was his attempt to help the nation recover, and prevent another depression from happening. It created new agencies that were made to help people create new jobs and provide unemployment insurance.
In 1941, the U.S. entered WW1, and it created new jobs for the people to help manufacture war goods. Many men were deported, and women gained jobs by taking their place in work.
Sources:
http://americanhistory.about.com/od/greatdepression/tp/greatdepress...
http://www.thegreatdepressioncauses.com/
http://useconomy.about.com/od/grossdomesticproduct/p/1929_Depression.htm
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