would give their workers. Many people ranging from the ages of 15 to theThe great depression started on Black Thursday October 21, 1929 which was a day where the stock market dropped in wall street New York, and which then forced the American banks to shut down taking the money of the people with them. The national bank lost between $8,000,000,000 and $9,000,000,000 and, by the end of the 1930’s the unemployment rate had increase and about 8,000,000 Americans were without a job and it came at its peak in late 1933 where it reached 11,000,000. Some were lucky enough to keep their jobs but over time over the depression wages, would be cut off by one cent and it would gradually decrease and it cut wages from about $28.50 a week to about 22.64 by 1931 and this was also due to the less hours they would give their workers. Many people ranging from the ages of 15 to the ages of 70 worked as apple sellers and shoe shiners because many lost their jobs short after the collapse. The great depression was a time where many people lost their jobs and many ended up homeless and the few people who did have a job had to deal with lower wages and cut hours. With America in debt many people lived on the streets of New York and made of living polishing shoes with over 7,000 of these people just in time square.the stock market dropped between $8,000,000,000 and 9,000,000,000 the day after black Thursday leaving the backs bankrupt taking all the money of the people with it the rapidly expanding depression cut hours from an average of 48 a week in 1929… to only 38 in the last 4 months of 1931 “time square was filled up with shine boys who would shine shoes … and they ranged in age from a 16-year-old who should be in school, to a man of more than , who said to have been employed in a fruit shop six months ago. Many people ended up homeless since they didn’t have a job and many people would sleep in parks and farmers would not be able to sell their crops and repay the loans they owed to the bank leading them to not have a job and the banks without money leaving the country in shackles Several hundred homeless unemployed women sleep nightly in Chicago parks, in the parks where they fear of getting molested Many farmers have to go out and look for a job in the industrial facility where they weren’t even guaranteed a job and many would end up homeless and since their main income were crops so the depression was longer for them millions of people lost their jobs. By 1930 there were 4.3 million unemployed; by 1931, 8 million; and in 1932 the number increased to 12 million. By 1933, almost 13 million were out of work and the unemployment rate was as the highest at 25 percent. The Great Depression hit people hard especially black folks who were persecuted by racism and were now left with no job. Many people would pie up in one area where they would give out free food but not everyone was able to eat and many would go out and sell apples but it was especially tough for farmers who had to lower their prices and many lost their crops and home due to the dust bowl occurring at the same time.People lost their life savings in the bank and many couldn’t get it back going from middle class to lower class in the matter of a day. By 1933, unemployment was at 25 percent and more than 5,000 banks had gone out of business.On that day, and on Black Tuesday, October 29, panic set in as millions of shares of stock traded at ever-falling prices.millions of people lost their jobs. By 1930 there were 4.3 million unemployed” People would beg for food and tried to get all the help they could get so that they could survive another night. Out of work Americans filled long breadlines, begged for food, or sold apples on street corners. We saw Want and Despair walking the streets, and our friends, sensible, thrifty families, reduced to poverty. Farmers had it hard and manty would not be able to keep their jobs due to the low prices they would sell their crops for as well as the dust bowl taking place destroying their crops and homes. On top of falling prices for crops, a devastating drought in Oklahoma, Texas, and Kansas brought on a series of dust storms known as the Dust Bowl. In the South, sharecroppers—both white and black—endured crushing poverty and almost unimaginable degradation.” The great depression was severely impacted by the wall start crash but other factors such as credit and the idea that farmers could not repay their debt forced banks to shut down leading to millions to lose their jobs and by 1932, U.S. manufacturing output had fallen to 54 percent of its 1929 level, and unemployment had risen to between 12 and 15 million workers, or 25-30 percent of people working. Many countries also were affected because many were still rebuilding after world war one and the united states gave them loans to rebuild but since the economy collapse in the us we repelled the loan and that left some countries in danger such as Germany which economy collapse because of it.The stock market and many were left bankrupt because of all the loans we lent out as well as all the debt people couldn’t pay off forcing banks to close. by 1932, U.S. manufacturing output had fallen to 54 percent of its 1929 level, and unemployment had risen to between 12 and 15 million workers, or 25-30 percent of the workforce. Many banks were consequently forced into insolvency; by 1933, 11,000 of the United States’ 25,000 banks had failed. Not only did we feel the effects of the great depression but other countries also felt it causing debt around the world. So once the American economy slumped and the flow of American investment credits to Europe dried up, prosperity tended to collapse there as well The Depression hit hardest those nations that were most deeply indebted to the United States, i.e., Germany and Great Britain. In Germany, unemployment rose sharply beginning in late 1929, and by early 1932 it had reached 6 million workers, or 25 percent of the workforce. Germany felt the effects as we took away the loans that they needed in order to rebuild after World war one leading their economy to then fail as well. “It had been forced to borrow heavily in order to pay reparations to the victorious European powers, as demanded by the Treaty of Versailles (1919), and also to pay for industrial reconstruction. When the American economy fell into depression, US banks recalled their loans, causing the German banking system to collapse. Britain was less severely affected, but its industrial and export sectors remained seriously depressed until World War II. Many other countries had been affected by the slump by 1931. Hoover believed in minimal government interference so that means that he believes the people should look out for themselves and build work ethics because the government will not give them any handouts. The 1932 Reconstruction Finance Corporation (RFC) authorized the lending of $2 billion to banks, railroads, and other privately held companies, and in July 1932 the government held about $300 million for the nation’s first relief and public works projects. But for some people this was still not enough, and many hated him because he didn’t do much and therefore when Roosevelt ran for president he won in a landslide. Hoover did the minimal to help his people out resulting in a catastrophic turn of events for the American citizens. “his belief in minimal government interference in the economy, as well as a conviction that direct public relief to individuals would weaken individual character, turn people away from the work-ethic, and lead them to develop a dependency on government handouts.1932 Reconstruction Finance Corporation (RFC) authorized the lending of $2 billion to banks, railroads, and other privately held companies… but it wasn’t enough Hoover than became one of the most hated presidents and when Roosevelt came in to run for office he won in a landslide at about 60 percent of the vote of the American people.disparagingly labeled “Hooverville’s” in disgust with the president’s inaction in the face of crisis In November 1932, Franklin D. Roosevelt was elected president in a landslide, winning 57.4% of the vote to Hoover’s 39.7%. Roosevelt presidency then helped out in the rebuilding of the great depression with him winning in a landslide he will help the people. In November 1932, Franklin D. Roosevelt was elected president in a landslide, winning 57.4% of the vote to Hoover’s 39.7%.The New Deal was a set of domestic policies under President Franklin D. Roosevelt and was expanded the federal government’s role in the economy to help out those affected by the great depression. The new deal was describing with three R’s and that was Relief, Reform and recovery and it did just that. And back in the day the question was whether the government should intervene or not but now it was how the government should intervene. All of this would set up the future on how the government helps the economy by issuing out welfare to the poor and giving free health insurance. With Roosevelt nominated for president and his speech about how the government should help the people the United states would see a decrease in unemployment rate and slowly the people would get better.New Deal derives from Franklin Roosevelt’s 1932 speech accepting the Democratic Party’s nomination for president. At the convention Roosevelt declared, I pledge you, I pledge myself, to a new deal for the American people.relief (for the unemployed) recovery (of the economy through federal spending and job creation), and reform (of capitalism, by means of regulatory legislation and the creation of new social welfare programs)Roosevelt plan would relief America of its great depression and the standards set for the first new deal can be reduced to relief, recovery and reform and this would help in stabilizing the economy.Roosevelt’s New Deal expanded the size and scope of the federal government considerably, and in doing so fundamentally reshaped American political culture around the principle that the government is responsible for the welfare of its citizens.Before the 1930s, national political debate often revolved around the question of whether the federal government should intervene in the economy. After the New Deal, debate rested on how it should intervene.The nation has been spiraling downwards during this time period but after Roosevelt got elected things started to look up after he passed his first new deal and then later on the second new deal.At the time of Roosevelt’s inauguration on March 4, 1933 the nation had been spiraling downward into the worst economic crisis in its history.Industrial output was only half of what it had been three years earlier, the stock market had recovered only slightly from its catastrophic losses, and unemployment stood at a staggering 25 percent. The first new deal started in March of 1933 where they call the legislation action the first hundred days from march to June of 1933 and from there they came up with different legislations that would help out the American people get back to a solid state or at least help them out. Congress passed legislation aimed at addressing the banking crisis, unemployment, and weak industrial performance, among other problems, through an alphabet soup of new laws and agencies. This will again be the groundworks of what we see today in America. The agricultural adjustment act helped out farmer so that they wouldn’t completely go without money and the Civilian Conservation Corps (CCC) employed young and single men into federal government jobs. The Agricultural Adjustment Act (AAA), which boosted agricultural prices by offering government subsidies to farmers to reduce output. The Civilian Conservation Corps (CCC), which employed young, single men at federally funded jobs on government lands. The Federal Emergency Relief Act (FERA), which gave federal grants to states that needed money in order to open government jobs and pay the workers as well as the national recovery act that fixes prices and wages in companies giving the people the right to organize union and establish livable income. The Federal Emergency Relief Act (FERA), which gave federal grants to states that funded salaries for government workers as well as local soup kitchens and other direct-aid to the poor programs. The National Recovery Act (NRA), which sought to boost businesses’ profits and workers’ wages by establishing industry-by-industry codes that set prices and wages, as well as guaranteeing workers the right to organize into unions.” The federal deposit insurance corporation allowed people to save their money safely in the banks and ensured them that is something would happen to the bank they would still get their money back. This will allow people to put money back in the banks and therefore more money in the banks means a boost in the economy. The Federal Deposit Insurance Corporation (FDIC), which guaranteed individuals that money they deposited in a bank would be repaid to them by the federal government in the event that their bank went out of business. In 1934, Roosevelt supported the passage of the Securities and Exchange Commission (SEC), which brought important federal government oversight and regulation to the stock market.The second new deal will focus more on increasing worker protections and building long-lasting financial security for Americans. And making sure that their work place is safe and secure. The new deal overall worked out at the end being that by giving more money to the consumer they will be able to buy more things giving the companies money expand, and hire new workers increasing the economy. Even though some of Roosevelt new deals were denied by the supreme court making him furious but he still saved America from this defect. The work progress Administration was a giant step into rebuilding being it gave millions of Americans jobs in public work such as building the national rods and building bridges. And the wage labor relations act guaranteed unions in the workforce. The Wagner Labor Relations Act, which guaranteed workers the right to form unions and bargain collectively. The Works Progress Administration (WPA), which employed millions of Americans in public works projects, from constructing bridges and roads to painting murals and writing plays. The social security act which made workers send a bit of their pay check to their social security which would be money saved so that people can retire at the age of 65. The Fair labor standards act which restricted child labor and gave hourly minimum wages and workers would only work 40 hours a week either maybe some overtime. The Social Security Act, which required workers and employers to contribute—through a payroll tax—to the Social Security trust fund. That fund, in turn, makes monthly payments to retirees over the age of 65, as well as to the long-term disabled. The Fair Labor Standards Act, which mandated a 40-hour work week (with time-and-a-half for overtime), set an hourly minimum wage, and restricted child labor. The new deal brought in millions of Jobs for Americans and was one of the more efficient ways to do it and that was by giving money to the consumer so that they can spend it and then the producers can make more of that product opening jobs for people leading American out of poverty. The New Deal embraced federal deficit spending to promote economic growth, a fiscal approach that came to be associated with the British economist John Maynard Keynes Then, as employers sold more and more products, they would have the money to hire more and more workers, who could afford to buy more and more products, and so on. Many believe that the day when all street shut down was the say the depression started but although wall street was the main cause of the great depression note countries un willingness to help each other during economic hardship. With the banks going bankrupt because they are charging to much interest when lending out loans because other people such as farmers couldn’t repay their debt to the bank.The United States wasn’t the only one at fault for the Great depression that hit us it was also other countries who were not willing to help each other and this will later cause them deficits too.If the nations had cooperated with one another better in dealing with their economic problems, they could have avoided or at least ameliorated the terrible economic losses that all of them suffered during that decade of depression”main reason why the Depression had not ended was that monopolistic corporations and cartels, labor unions, and government controls were interfering with the free functioning of market forces. The great depression started off with the banks and the way they were distributing money to people and to those who the bank let money too most of them isn’t paid back what they burrowed causing an increase in interest and causing companies not to check out money leading to the bank to declare bankruptcy. When banks had large reserves, they lowered interest rates. Cheaper loans encouraged manufacturers to invest in new equipment and hire additional workers.The great depression started on Black thursday october 21 1929 which was a day where the stock market dropped in wall street new york, and which then forced the american banks to shut down taking the money of the people with them. The national bank lost between $8,000,000,000 and $9,000,000,000 and, by the end of the 1930’s the unemployment rate had increase and about 8,000,000 Americans were without a job and it came at is peak in late 1933 where it reached 11,000,000. Some were lucky enough to keep their jobs but over time over the depression wages, would be cut off by one cent and it would gradually decrease and it cut wages from about $28.50 a week to about 22.64 by 1931 and this was also due to the less hours they ages of 70 worked as apple sellers and shoe shiners because many lost their jobs short after the collapse.