In 1929, the world's economy system completely collapsed after America's economy was extremely weakened.
Because most families were too poor to buy any goods from the stores, store owners had to cut back orders from factories. The factories reduced production and were forced to lay off workers.
On Thursday, October 24, lowering of stock prices had become an all-out slide downward and prices plunged to a new low. There was panic every where and everyone wanted to sell, but no one wanted to buy. There was a record of 16 million stocks sold that day then the markets crashed.
The effect on the world was major. Prices went down, banks failed, and people were evicted or had to sell there land
In 1930 France had become less dependent on foreign trade and by 1935, 1 million workers were unemployed
Franklin Roosevelt was the first president to be elected after the depression he also started the New Deal. The New Deal helped provide jobs for the unemployed. Government agencies gave financial help to businesses and farms. Large amounts of public money was spent on welfare and relief programs. And regulations were imposed to reform stock market and banking systems