The Large Sad. By Derek Ball and William Nees

The Large Sad. By Derek Ball and William Nees

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  • During the 1920's European Nations were re-building war-torn economies. In the Americas the economy was booming with factories in 1929 putting out nearly half of the worlds industrial goods. 
  • There were some early signs of the great depression within the 20's. Some indications are how un-even the wealth was actually spread across each economic class. Overproduction of food from farmers drove prices further down on the agricultural side which means that they are unable to sell theit crops for profit. The farmers unpaid debt caused some weakened banks to collapse adding more warning signs  to the list.  but no one noticed. 
  • The decline within the stock market began on Thursday October 24th, also known as black Thursday. On this day everyone began to panic sell their stocks but no-one wished to buy anything. At this point, prices for stock began to rapidly plummet until the stock market crashed. With this came alongside the crash of America's economy. 
  • Banks closed, thousands of businesses closed , farmers lost their land because they could not make mortgage payments and banks also fell
  • Some of the effects from the Great Depression on unemployment and trade are that 1/4 of all American workers had no jobs, and factory production have been cut in half. Due to this effects of the depression were not only felt in America but also through out Europe in countries that relied on trade with America.
  • The president of the US at the time (Franklin D. Roosevelt) immedietly began programs of government reform, these reforms include large public work projects to  provide jobs for the unemployed, new government agencys to give financial help to buissnesses and farms, and large amounts of public money were spent on welfare and relief programs. These reforms were called ''the new deal''
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