Instant Access To 100,000+ Essays!

The Great Depression was a worldwide business slump of the 1930's. It ranked as the worst and longest period of high unemployment and low business activity in modern times. The Great Depression began in October 1929, when stock values in the United States dropped rapidly. Thousands of stockholders lost large sums of money and many of these stockholders were even wiped out. Banks, factories, and stores closed and left millions of Americans jobless and penniless. Many people had to depend on the government or charity to provide them with food. President Herbert Hoover held office when the Great Depression began. The voters elected Franklin D. Roosevelt President in 1932. Roosevelt's reforms gave the government more power and helped people get through the depression. The Great Depression affected almost every nation and everyone. It caused a sharp decrease in world trade because each country tried to help its own industries by raising tariffs on imported goods. The depression caused some nations to change their leaders and their ty