The Great Depression

What was the Great Depression?

• The Great Depression was an economic slump in N. America, Europe, and other industrialized areas of the world that began in 1929, and lasted until about 1939.

• The Great Depression was the longest and most severe depression.

• Many believe it began w/ the stock market crash in October 1929.

Timeline• 1929- Depression Starts in Mid-October

– Herbert Hoover becomes president– Stock Market starts to crash on Oct. 24th

• 1932- Unemployment rises to 23.6%– Congress passes the Federal Home Loan Bank Act and the

Glass-Steagall Act of 1932. Top tax rate is raised from 25 to 63 percent.

• 1934- Great Depression.• 1936- Top Tax Rate was raised to 79% Sweden

becomes the first nation to recover fully from the

Timeline ((Continued))• 1937- Supreme Court declares the National

Labor Relations Board to be unconstitutional– Roosevelt seeks to enlarge and therefore

liberalize the Supreme Court. This attempt not only fails, but outrages the public.

• 1939- The U.S. starts to emerge from Great Depression– World War II starts with Hitler’s invasion on

Poland– Great Depression ends……………!

How did people live?• Lost homes, life savings and jobs• In 1930 13 million people lost their jobs which is 25% of

all workers• Blacks and unskilled workers were always first to be

fired.• People had to gather all personal belongings and sell

whatever they could =[• Desperation for work and money became so bad people

were willing to work for as little as offered, so they could have a job and make some sort of money.

• Many people died through the Great Depression.

Music, Entertainment, and Social Aspects

• Young people of the 1920’s and 30’s liked to dance to the Jitterbug and the Charleston.

• Women who had a bobbed haircut and short shirts were known as flappers.

• Spoken entertainment was radio• Jazz was related to ragtime, the blues,

spirituals, world songs, and even military marches

Entertainment ((Continued))

• Babe Ruth was popular back in that era.

– Lifetime record of 60 homeruns• Jazz first began in New Orleans

• 1920’s and 30’s people listened to radio not only for music, but for news, weather, bulletins, and sporting entertainment… kind of like today.

• 1920’s 3 million people owned radios

Why is it important to know?• The entire structure of the economy was based

on the stock market.• Banks didn’t have insurance or interest back

then.• Population control took place back then because

people had no money to take people on dates, with no dates it means no sex, which means no babies.

How does it affect us today? Now you can insure your money and there is

interest. One aspect of life, meaning the stock market

((economy)) doesn’t control everything like it did in the Great Depression.

We have a much less chance of getting into a depression because the government isn’t based on one aspect.

Sources!!!!!!!

• Google• www.english.uiuc.edu/maps/depression/about.htm• http://www.english.uiuc.edu/maps/depression/photoessay.htm

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