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Word Count: 407
THE GREAT DEPRESSION The year of 1929 began a time period of horror in America It was thebeginning of the great depression A time in which many lost theirjobsbecame homelessand went hungry Many people had to live off thenutrition of weeds or some worked fifty - five hours and only earned seventy -five cents The cause of the depression was the stock market crash of 1929known to investors as Black Tuesday Black Tuesday is said to be the mostshocking financial event in the history of the united states Not only did thestock market prices drop drastically but the business world was brought downwith it Inflation also rose because of the crash The crash that occurred on October of 1929 caused Americans to loseThirty billion dollarsand the American dollar value was 90 less than it wasprior to October of 1929 Wholesale and retail food prices dropped 40 andfarm prices dropped over 60 About four million families were leftunemployed and on relief support only receiving fifteen dollars a month Because of the crash the government was required to set new regulationsregarding stock market trade The reason for this was to attempt to preventanother stock market crash from happening in the future The depression brought about many problems not only did people have toworry about unemployment they also had to worry about crime ManyAmericans tried to get easy money by taking part inrobberieskidnappingsand murders In 1935 criminals out numberedcarpenters four to one grocers six to one and doctors twenty to one In themid west crooks with shot guns and Tommy Gun were a common thing Inlarge cities the criminals were making money off of extortionprositution and GREAT DEPRESSION TIMELINEStock market crash begins on October 24investors call October 29 Black TuesdayLosses for the month are sixteen billioncongress passes Agricultural Marketing Act to support farmers until they canBy February Federal Reserve cut prime interest rate 6 to 4The smoot-Hawley Tariff
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