Great depression story

Great depression story

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  • Warren Harding (1921-23)
  • His promise was "return to normality" He reduced taxes to give businesses more money to grow and to put more money in the pockets of ordinary Americans.
  • He had a huge respect for businessmen and adhered to the laissez-faire policy. He gave businessmen the freedom to make a profit and become rich
  • "Business is America's business,"
  • Calvin Coolidge (1923-29)
  • He tried tax cuts and did project which keep more money in people’s pockets, and keep people working. He also contacted business leaders and urged them not to cut wages or lay off workers. 
  • Herbert Hoover (1929-32)
  • put a chicken in every cooking pot, and a car in every garage
  • His ambitious slate of New Deal programs and reforms redefined the role of the federal government in the lives of Americans.
  • Franklin D. Roosevelt (1933-45)
  • The economy was on an all time rise and millions of people were positively affected.Bankers would allow people to Buy on Margin in order to create a larger profit. Banks would give out Loans to people and charge them interest if the Loans were not paid on time.  Nebraska had 1.3 million people and there was one bank for every 1000 people loan out money to farmers and businesses.
  •  Banks began to fail at alarming rates. there was an average 70 banks failing each year nationally. $140 billion disappeared though bank failures.  Banks in all 48 states had either closed or had placed restrictions on how much money depositors could withdraw.
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