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The 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 joblessEconomic Indicators of the Great DepressionIndicator192819291930193119321933in millions20164380121128production workers constant 270028552584226217051771financial difficulties4996591352229414564004in billions of s293133364746in billions of s585440292321The end of World War 1 - Treaty of Versailles The treaty demands payments andrepartions of war debts from the defeated countriesSome US Banks fail because of bad investments and low prices for agriculturalThe stock market fails in October which sends millions of investers into bankruptcyHawley-Smooth Tariff Act raises the import duties on a wide variety of raw materialsHostilities 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 businessesFranklin Deleno Roosevelt FDR is elected presidentAdolf 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 depressionWall Street trading is regulated by the Securities and Exchange Act The new dealpolicies are mandated by the democratic majorities in CongressThrough the National Labor Relations Act workers get the right to orginize and theSocial Security Act provides for old-age pensions nad unemployment insurancesGermanys second 4 year plan focuses on defense and the build up of armsFDR begins his second term The recession begins 1937-1938 unemployment raises to20 Congress defeats Supreme Court Reform Bill- emphasizing that the constitutionmust stay the principle of governmentGermany invades Chechoslovakia and
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