The Great Depression

The Great Depression was the worst economic disaster in United States history, and had worldwide effects. It began with the U.S. stock market crash of 1929 and continued for more than 10 years.

The economy during the 1930s did not collapse immediately after the stock market crash of Black Tuesday, as is frequently assumed. The stock market continued to fluctuate in the months after October 1929, but falling commodity prices and higher unemployment caused a nationwide distrust in the economy. The economies of most western nations were in serious decline by 1931.

1930 saw a sharp decline in international trade because of the Smoot-Hawley Tariff. American exports declined by over $3 billion in just four years and farmers could no longer make good on their loans, causing mass debt.

Many American neighborhoods became shanty towns, known as Hoovervilles. Around the world, economic hardships helped lead to the rise of fascism in Europe and Latin America.

President Franklin D. Roosevelt enacted a series of initiatives in the mid-1930s intended to aid the United States economy. There is widespread debate about the usefulness of these programs in instigating recovery, though many policies affected U.S. History for decades to come, including the Works Progress Administration and social security.

In 1939, the U.S. engaged in heavily increased military spending and production to help stop the spread of fascism. World War II is heavily cited as the event that sparked a full economic recovery.

• PBS.org: Timeline of The Great Depression

• 1929: March 4, Herbert Hoover inaugurated as U. S. President

• 1929: October 24, Black Thursday

• 1929: October 29, Black Tuesday

• 1931: December 11, New York Bank of the United States collapses

• 1932: November 8, Franklin D Roosevelt defeats Herbert Hoover in United States Presidential Election

• 1933: March 12, Franklin D. Roosevelt broadcasts first of Fireside Chats

• 1933: April 19, United States goes off of the Gold Standard

• 1933: June 16, National Industrial Recovery Act and National Recovery Administration established

• 1935: May 6, Works Progress Administration established

• 1935 July 5, National Labor Relations Act established

• 1935: August 14, Social Security Act of 1935 established

• 1938: June 25, Fair Labor Standards Act established

There are several key figures whose actions helped shape the era of The Great Depression. It is important to recognize their part in this part of American History. A section is included here with links for further study for each historical figure:

The Grapes of Wrath gives a unique perspective of life during The Great Depression, especially in the Oklahoma Dust Bowl. Watch it free online.

The Grapes of Wrath (1940) Aug 18, 2007 - 2:09:44 John Steinbeck's novel retold on the silver screen about a family stricken by poverty during the Great Depression. When the family loses their home, they move to California in an attempt to f...

A number of legislative and administrative documents came out of The Great Depression.Our leaders and lawmakers enacted various programs and acts to protect the nation from a repeat of the conditions that led to The Great Depression, and to help the nation to recover. Programs such as Social Security and Welfare are examples of recovery procedures. Additional links for your further study have been included below for the various programs and acts that came out of this time period.

• Wikipedia: Emergency Banking Relief Act

• Wikipedia: Civil Works Administration