the great depression
...pression was the October stock market crash. From the end of World War I in 1919 the stock market prices kept rising. On October 24, 1929 the stock market crashed. Stock prices plummeted. On that one day, the value of stocks fell fourteen billion dollars. Business started to lay off people. Small stores closed their doors. The lower the money got the more people got laid off. From business, manufacturing, automobile, construction, industries everyone was involved and everyone got hurt. Though people believed now that construction and automobile manufacturing were contracting, about 600 banks were failing each year, and half the American people lived at or below the minimum subsistence level even before the stock market crash. Unemployment approaches 25 percent in 1933. Almost 15,000 banks fail between 1929 and 1933. Millions of people lost all of their savings. Many people ended up sleeping in a shelter ash. Seasons had a lot to do with what some people ate during the depression. When Franklin D. Roosevelt was first elected as president in 1932, he established the New Deal Policies, to fight the Great Depression. The purpose of the new deal was to provide recovery, relief, and reform, the legislature was directed towards agriculture, banking, industry, labor, and unemployment. During the hundred days, FDR established the alphabet agencies such as the Banking Act of 1933 that created FDIC, the Agriculture Adjustment Act, National Industrial Act, Public Work Administration, Civilia...