The Great Depression (1 agos 1929 año – 1 mar 1933 año)

Descripción:

The great depression started in August 1929 and finished in March of 1933. It started from a crash of the stock market. Many people blamed Herbert Hoover the current president at the time. The population named towns filled with homeless people “Hoovervilles”. The stock market lost almost 90% of its value between the years. Millions of people migrated away from the Dust Bowl region in the Midwest. Around 200,000 migrants moved to California. An estimate of around 300,000 companies went out of business. In 1929 unemployment was around 3%. In 1933, it was 25%, with 1 out of every 4 people out of work. Around15 million people were not working for those years. When president Roosevelt first came into the office, he wanted to change things very quickly. During the first 100 days that he became president he issued several executive orders and helped get many laws passed through Congress. Roosevelt created a series of laws, programs and government agencies enacted to help the country handle the Great Depression. To help farmers out, the Agricultural Adjustment Administration (AAA) was put into place. It helped to improve farming practices, reduced farm production to raise prices, and gave a voice to farmers in the government. In order to get the housing industry going again. They created two new agencies: The Homeowners’ Loan Corporation (HOLC) and the Federal Housing Administration (FHA). The HOLC was designed to help refinance mortgages and to help people keep their homes. The FHA put government standards on the construction of homes to make sure that homes were safe. It also helped to ensure mortgages and stabilize the home mortgage market. The New Deal created around 100 new government offices and 40 new agencies. The great depression ended just as world war 2 started because the factories needed workers.

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