The Great Depression
What was the Great Depression?
• The Great Depression was an economic
slump in N. America, Europe, and other
industrialized areas of the world that
began in 1929, and lasted until about
• The Great Depression was the longest
and most severe depression.
• Many believe it began w/ the stock market
crash in October 1929.
• 1929- Depression Starts in Mid-October
– Herbert Hoover becomes president
– Stock Market starts to crash on Oct. 24th
• 1932- Unemployment rises to 23.6%
– Congress passes the Federal Home Loan Bank Act and the
Glass-Steagall Act of 1932. Top tax rate is raised from 25 to
• 1934- Great Depression.
• 1936- Top Tax Rate was raised to 79% Sweden
becomes the first nation to recover fully from the
• 1937- Supreme Court declares the National
Labor Relations Board to be unconstitutional
– Roosevelt seeks to enlarge and therefore
liberalize the Supreme Court. This attempt not
only fails, but outrages the public.
• 1939- The U.S. starts to emerge from Great
– World War II starts with Hitler’s invasion on
– Great Depression ends……………!
How did people live?
• Lost homes, life savings and jobs
• In 1930 13 million people lost their jobs which is 25% of
• Blacks and unskilled workers were always first to be
• People had to gather all personal belongings and sell
whatever they could =[
• Desperation for work and money became so bad people
were willing to work for as little as offered, so they could
have a job and make some sort of money.
• Many people died through the Great Depression.
Music, Entertainment, and Social
• Young people of the 1920’s and 30’s
liked to dance to the Jitterbug and the
• Women who had a bobbed haircut and
short shirts were known as flappers.
• Spoken entertainment was radio
• Jazz was related to ragtime, the blues,
spirituals, world songs, and even
• Babe Ruth was popular back in that era.
– Lifetime record of 60 homeruns
• Jazz first began in New Orleans
• 1920’s and 30’s people listened to radio not only for
music, but for news, weather, bulletins, and sporting
entertainment… kind of like today.
• 1920’s 3 million people owned radios
Why is it important to know?
• The entire structure of the economy was based
on the stock market.
• Banks didn’t have insurance or interest back
• Population control took place back then because
people had no money to take people on dates,
with no dates it means no sex, which means no
How does it affect us today?
Now you can insure your money and there is
One aspect of life, meaning the stock market
((economy)) doesn’t control everything like it did
in the Great Depression.
We have a much less chance of getting into a
depression because the government isn’t based
on one aspect.