2.1

• The Wall Street Crash occurred

  October 29, 1929
• The crash led to a rise in unemployment, stock plummeting, and $30 million being wiped out in a week
• Causes of the Wall Street Crash

  • 60% of the country being poor
  • Republican policy of laissez-faire
  • Overproduction
  • Panic selling
• Effects of the Wall Street Crash


  • Businessmen failed
  • 10,000 banks closed between 1929-1933
  • Unemployment reached 238 in New York in 1930, with 45 dying
  • Migrants lived in hoovervilles
  • 80% of steel workers were unemployed
  • Farmers lost their farms
  • 250,000 Americans had their homes taken
  • Between 1928 and 1933, production fell by 40%
  • By 1933, 14 million Americans were unemployed
  • Average wages fell by 60%
• The song "Brother Can You Spare A Dime" was used to spread the message about the Great Depression, mentioning the American Dream and poverty
• President Herbert Hoover promised a "Chicken in every pot," but people showed discontent with his lack of help
• The biggest show of discontent was the Bonus March 1932, where veterans called for their bonus early, leading to violent methods and accusations of communism and criminal behavior