The Great Depression - People lost their jobs and were no...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Great Depression 1 The Great Depression Tonia Stoneman HIS/125 Rona Gunter April 11, 2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Great Depression 2
Background image of page 2
There are many factors that led to the Great Depression. It not only affected the United States, but it was felt worldwide. The stock market crash of 1929 was probably one of the biggest factors of the Great Depression. Bank failures were another huge contributor of the Great Depression. The bank deposits were not insured, therefore, people lost all of their money when the banks closed. There was no way for them to get their money back (Kelly, 2011). People began saving their money instead of purchasing things. The production of things went down, which caused job loss. This made the unemployment rate to rise very dramatically.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: People lost their jobs and were no longer able to pay for things. These items were being repossessed (Kelly, 2011). To protect American businesses, the government created the Smoot-Hawley Tariff (Kelly, 2011). This put a high tax on imported goods. This caused the rate of trade with foreign countries to change dramatically. One last aspect that contributed to the Great Depression was the drought in the Mississippi Valley in 1930. Many people had to sell their farms because they were unable to make a profit. References Kelly, M. (2011). The top 5 causes of the Great Depression . About.com. Retrieved from http://www.about.com on April 11, 2011....
View Full Document

This note was uploaded on 06/10/2011 for the course HIS/125 AAFO0NDH19 taught by Professor Gunter during the Spring '11 term at University of Phoenix.

Page1 / 4

The Great Depression - People lost their jobs and were no...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online