The Great depression happened in the year 1929 when the stockmarket crashed and stock value in the unitedstates dropped rapidly. Many causes that contributed to it were bank failures and low incomes among riseers and factory workers. in addition uneven pay of income among workers also added to the economic slump. Life was spartan for the farmers they often were not successful many had to sell their land. Prices of farm products fell 40%.
Also businesses like banks had lots of failures because more or less of them had farmers as customers and because of that they didnt have enough bills to pay the banks. astir(predicate) 550 banks went out of business. Also alot of factories went out of business and bunches of people were left wing unemployed. In many of the vacant areas the unemployed workers built shacks because they had no houses, these villages of shacks they built were referred to as Hoover vill, he was the president during the lettuce of the depression. Herbert Hoover was later replaced by teddy Roosevelt. one final result Hoover had was to try to soften the depression by divergence business alone without supervision from the organisation.
Another idea he had was the (RFC) or reconstruction finance corporation which lent money to banks, It was the best idea that he had that actually worked. Then Roosevelt had the upstart deal which helped the best he said the government had trine main purposes, first relief to the needy, second adding nation blanket(a) business by providing jobs and third laws to reform business government so it wouldnt happen again. The great depression ended in 1944-1945.
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