The Great Depression In The 1930's

There were many important events that occurred during the 1930's. The Great Depression was one of the times in the 1930's where many people in the U.S and around the world were affected. It was when many people and businesses were suffering economically. Also many banks had to close because they couldn’t handle all the money that the people wanted to have. After all there were many acts and bills Congress passed to be able to recover from all the economic problems.
The economy started to go down in the beginning of 1929 and lasted until 1939. “Consumer spendings and investments started to decrease, and also the stock prices started to rise which caused Wall Street to panic”(History.Com). Many other industrialized countries were going through an economic break. Then on October 24, 1929 the stock market crashed, millions of shares were traded but ended up worthless. The investors who had bought stocks with borrowed money were wiped out. Many of the businesses started to slow down which then caused many people to be unemployed and caused the wages to go down. There were about 13 to 15 million people that were unemployed.

They also had a fixed currency change which then brought more countries into trouble. In 1930s there were four bank waves that caused panic. The investors weren't trusting the banks so they started wanting deposits in cash. Since investors wanted deposits in cash the banks had to start “liquidating loans in order to supplement their insufficient cash reserves”(History.com). Then in 1933 thousands of banks in the U.S had closed. When that happened Hoover's administration helped banks and institutions by giving them government