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The Great DepressionThe Great Depression took place from 1930 to 1939 During this time the prices ofstock fell 40 9000 banks went out of business and 9 million savings accounts werewiped out 86000 businesses failed and wages were decreased by an average of 60The unemployment rate went from 9 all the way to 25 about 15 million joblesspeopleEconomic Indicators of the Great DepressionIndicator192819291930193119321933Unemployment in millions20164380121128Average weekly earmings for production workers constant 270028552584226217051771Bank suspensions because of financial difficulties4996591352229414564004Federal Government spending in billions of s293133364746Value of US exports in billions of s585440292321GREAT DEPRESSIONTIME LINE1919The end of World War 1 - Treaty of Versailles The treaty demands payments andrepartions of war debts from the defeated countries1927Some US Banks fail because of bad investments and low prices for agriculturalproducts1928Herbert Hoover is elected president1929The stock market fails in October which sends millions of investers into bankruptcy1930Hawley-Smooth Tariff Act raises the import duties on a wide variety of raw materialsand industrial products1931Hostilities between China and Japan begin resulting in increased defense spendingand preperations for war to efficiently insulate Japan from an economic depressionHoover creates the Reconstruction Finance Corporation to lend money to businessesto help prevent failing1932Franklin Deleno Roosevelt FDR is elected president1933Adolf Hitler becomes chancellor of Germany and he puts into effect his 4 year plan ofeconomic recovery FDR declares a federal bank holiday to determine which banksare solvent enough to re-open FDR broadcasts the first fireside chat with AmericaThe 100 days congressional session approves 15 major acts this initiates the new dealThe World Economic Confrence is held in London They fail to agree on internationalpolocies to cooperate combat in the worldwide depression1934Wall Street trading is regulated by the Securities and Exchange Act The new dealpolicies are mandated by the democratic majorities in Congress1935Through the National Labor Relations Act workers get the right to orginize and theSocial Security Act provides for old-age pensions nad unemployment insurances1936Germanys second 4 year plan focuses on defense and the build up of arms1937FDR
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