The Great Depression Of The 1930's

411 Words2 Pages
While welcoming the 1930’s, the United States wasn’t at its peak, economically. Right before the 1930’s began, the stock market crashed. The crashing of the stock market in October of 1929, was the beginning of the Great Depression. This was “the deepest and longest-lasting economic downturn in the history of the Western industrialized world.” (The 1930s) The Great Depression lasted a whole decade, from 1929 until 1939. During this tough time, consumer spending and investment dropped dramatically. There were a chain of events which eventually led to the rising levels of unemployment and by 1931, more than 15 million Americans were unemployed and half of the country’s banks had failed. President Herbert Hoover was in office during this
Open Document