The Great Depression was an enormous economic downfall in the history of the United States and was also a very hard time for many Americans. People had lost jobs, markets went bad, banks had shut down, and unemployment rate has gone up. It had lasted from 1929-1939. During the next several years, buyer spending and investment had dropped, causing a decline in industrial output and raising the unemployment level. It began with the stock market crash on October 29 1929, which had lost millions of investors, markets had lost $30 billion dollars in two days, making it ten times more than the annual budget the U.S had spent for WWI, and prices were dropping until the end of November. Also stocks were only valued at 20 percent. The Down Jones market …show more content…
It raised import duties to protect American manufactures from foreign competitors. The 40 percent tariffs only worked out to tax 2.4 percent of citizens. American businesses were no longer investing in Europe and the tariff hasn’t made a huge problem in the United States but was a big threat to Europe. It also resulted in a general globe trade war and a rapid decline in international trade. He had given loans to farmers with the Agricultural Marketing Act to help stop them from going bankrupt, but they had to pay back the …show more content…
In 1933, after a third banking panic, Roosevelt had decided to make a bank holiday to help close financial institutions to stop a run on banks and help the economy. Franklin D. Roosevelt had initiated the New Deal program to help restore confidence in the U.S. He had made a social welfare a federal government priority, made new roles for the government, and changed the focus of national partisan politics. It helped public works programs, stimulate banks, insured savings, and improve business practices. During Roosevelt’s first 100 days he had made some other changes to the U.S economy. First, he passed the Federal Emergency Relief Administration, which provided assistance to the hungry and unemployed in the way of giving them food, housing support, medicine, etc. The Civilian Conservation Corps helped giving jobs to unemployed people in the American West. The Tennessee Valley Authority added the nation’s power resource base like dam construction for