The Great Depression

By: Xavier Ortiz, Jackson LeMond, Ethan Ulate

Some Examples

About The Great Deppresion

During the 1930s much of the world faced harsh economic conditions. Many people were out of work, hungry, or homeless. This period is called the Great Depression. It started in the United States, but it quickly spread throughout the world.

During the 1920s many people invested their money in stocks (shares of ownership in companies). For a few years the value of stocks rose rapidly. In September 1929, however, stock prices began to fall. In October they “crashed.” This meant that people’s stocks were now worth almost nothing.

Many people lost all the money they had. Banks were hurt as well. People who had borrowed money from banks were unable to pay it back. Many banks failed because crowds of people tried to take out all their money at once. When a bank failed, people with accounts there lost their savings. In addition, factories and businesses closed because not enough people were able to buy the goods they produced or sold.

By 1932 about 12 to 13 million people were out of work. People with jobs were paid only about half of what they had earned before. Dry weather in the Great Plains made things even worse for farmers. They could not grow enough crops to sell. The land was so dry that it was called the Dust Bowl.

Great Depression." Britannica School. Encyclopædia Britannica, Inc., 2015. Web. 9 Oct. 2015.