The Great Depression
by Samantha Ritson
1. The unemployment rate rose with no government help at first.
1.1. Since people could not buy things productivity was cut back. more unemployment.
2. Austrian banks and loaning German banks therefore were forced into bankruptcy
2.1. and b/c German banks had borrowed from Americans, U.S. banks began to go bankrupt, wiping out life savings of thousands of Americans
3. Oct. 29th, 1929 NYC Stock market crashed, causing a depression that would last until 1942
3.1. * beginning in Oct. 1929, investors’ confidence dropped, leading to a market collapse
4. President Hoover wouldn't help so during the elections Roosevelt won by a landslide
