October 1929, the United States stock market crashed. A sharp decline in values, leading to the great depression: The worst economic downturn in an industrialized world. There are various causes for the great depression, consisting of: drought, overproduction, bank failures, stock speculation, and consumer debt. When the Great Depression began, Herbert Hoover was the President of the United States. When Franklin D. Roosevelt became President, he promised the American people a “New Deal.”
The New Deal was a series of regulations that were enacted to help the country deal with the Great Depression. It helped put people to work and to feed and house the poor. These regulations are still in place today (i.e., the Social Security Act). The Great Depression was ended with the start of World War 2(WWII), putting many people back to work and filling factories to their maximum capacities. The Neal Deal created around 100 new government offices and 40 new agencies. In 1929, unemployment was around 3%. In 1933, unemployment was around 25%.
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