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The Great Depression
A Virtual
Field Trip
A Day of Reckoning
On Black Tuesday, October 24, 1929, the Stock Market collapsed.
Wall Street Stock-Market Crash Of 1929 The crash
precipitated the Great Depression, the worst economic downturn in the history of the United States.
A Day of Reckoning In the words
of a gray haired Stock Exchange guard, "They roared like a lot of lions and tigers.
A Day of Reckoning
They hollered and screamed, they clawed at one another. The trading floor of the New York Stock Exchange was like a bunch of crazy men.
A Day of Reckoning Every once in a
while, when Radio or Steel or Auburn would take another tumble, you'd see some poor devil collapse and fall to the floor."
Wall Street Stock-Market Crash Of 1929 The stock
market was in shambles. Many banks couldn't continue to operate. Farmers fell into bankruptcy.
Outcomes of the Crash The Wall Street
Crash brought the Roaring Twenties to an end and led to a Depression in America.
The Lowest Point
The Great Depression was probably the lowest point in American economic history.
Wall Street Stock-Market Crash Of 1929
It had devastating effects on the country.
The Lowest Point
In fact, it was so bad that most of the world was hurt economically at the time.
Stocks One of the
reasons this happened was how people had invested in stocks during the 1920s.
Foolish Investments Many people
used credit to invest, and some companies they invested in were worthless.
Foolish Investments
When investors started to wise up, lots of people sold stock quickly, the prices went down fast, and almost everybody lost money.
1930s
The 1930s were times of great depression resulting in sweeping changes.
Wall Street Stock-Market Crash Of 1929 A quarter of
the working force, or 13 million people, were unemployed in 1932, and this was only the beginning.
Out of Business! Many
companies went out of business, and by 1933, one out of every four people in America had lost his or her job.
A Way Out
Financial institutions collapsed.
Starving People Some people
starved trying to find work, while others did all they could to just hang on a little longer. Some could only find food in soup lines.
New Deal When Franklin D.
Roosevelt accepted the Democratic nomination for president of the United States in 1932, he pledged to create "...a new deal for the American people."
New Deal The New Deal
became the term that described all of Roosevelt's later efforts to help the tens of millions of people.
The New Deal developed government programs to help the needy.
A Way Out
It wasn't until World War II started that the U.S. and world economies straightened out.