Jesse- The Great Depression
Hard Times in the Roaring 20's
Political And Government
The leader or president of the country at this time was Herbert Hoover, and the governor of New York was Franklin Delano Roosevelt. Believe it or not, these hard times helped FDR win the election, especially when he created The New Deal. One thing that Hoover did a lot while in office during these times was veto more bills because he felt that gave the government too much power. One group was found at this time and that was the RFC, this was an agency that provided some relief by lending money to banks railroads and other large institutions.
One way the Great Depression started was when the stock market crashed, this was when the prices went down and buyers of the stock market got scared and started to sell their stocks and they stopped buying them.Another thing was that people were starting businesses and borrowed money but then could not pay it back and then people who had money in the bank no longer had that money. Because of these happenings 15 million people could not find work, that is about 15% of the working force.
When the Great Depression hit, it hit New York the hardest because they had a bigger population of people, businesses, and banks.Canada was also hit very hard because they depend on the export of grains and raw materials.