The Great Depression
1. The Great Depression happened in 1929, when economic panic spread througout the city of New York went the stock market crashed.
2. The Great Depression caused industrial production to decrease and the unemployment rate to rise.
3.After the roaring twenties, the mass production caused workers to be laid off and put many people and businesses in debt.
4. President Frankin Roosevelt said that the American people shouldn't worry about things because he said he was going to fix things. He said that 'They have nothing to fear, but fear itself.'
5.The Great Depression ended with public support and the expansion of the federal government.
President Franklin D. Roosevelt
Frankin D. Roosevelt was a key person in the great depression because he gave hope to the townspeople and helped the countries through the depression.
New York's Bank of the United States collapses. At the time of the collapse, the bank had over $200 million in deposits, making it the largest single bank failure in the nation's history.
More than 750,000 New Yorkers are reported to be dependent upon city relief, with an additional 160,000 on a waiting list. Expenditures average about $8.20 per month for each person on relief.
Franklin D. Roosevelt was elected president over Herbert Hoover. Roosevelt receives 22.8 million popular votes to Hoover's 15.75 million.
President Roosevelt created the Emergency Banking Act.