In October 1929 through November the stock market crashed, wiping out 33 percent of the paper values of common stock.
In 1931 alone over 2,000 American banks failed. There was no FDIC insurance.
By 1932 one out of every four Americans was
By 1933 the value of stocks on the New York Stock Exchange was worth less than a fifth of what it had been at its peak in 1929....and 11,000 of the United States' 25,000 banks had failed by 1933.
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Did You Know
Eleanor Roosevelt received and responsed to thousands of letters
During her first year in the White House, Mrs. Roosevelt received 300,000 pieces of mail from adults and children.
She continued to receive hundreds of thousands of letters in the years that followed.
The First Lady had a secretary who was in charge of the mail. Her secretary would read the mail and either reply to it or send it to another department for action. She would also select about 50 letters a day for Mrs. Roosevelt to read. The First Lady would sometime dictate replies to those letters.
Eleanor Roosevelt helped establish the National Youth Administration in June 1935. The NYA helped more than 2 million high school and college students stay in school by giving them grants in exchange for work.
They worked in libraries and college labs, and on farms. The NYA also found work for 2.5 million young people who were not in school and not working. As World War II approached, NYA youths worked in defense industries where they gained useful job skills.
The NYA was an equal opportunity agency, providing aid to women and minorities. This feature of the program was very important to Mrs. Roosevelt. "It is a question of the right to work," she said, "and the right to work should know no color lines."
In 1932 sociologist Thomas Minehan disguised himself as a hobo and set out to research the lives of transient, homeless men. Much to his surprise, Minehan found that "a great number" of hoboes ''were youths and even boys.... And as I left .... to live in hobo railroad yard camps or jungles and river shanty-towns, [where the homeless stopped as they wandered across the country I found more and more youths and not a few girls ... -- children really -- dressed in army breeches and boys' coats or sweaters -looking, except for their dirt and rags, like a Girl Scout Club on an outing."
Minehan was so startled by this army of homeless youths that he made these poor children and teens the subject of his book Boy and Girl Tramps of America (1934).
What Minehan had stumbled upon during his research was just one part of the youth problem of the 1930's. Some 250,000 youths belonged to the homeless sector that Minehan had studied in the early Depression years; millions of other teens and children, even though not homeless, faced material deprivation and limited educational opportunities because of the economic crisis.
The unemployment rate among young Americans during the 1930s was higher than that of the rest of the population. Experts on youth, such as Homer Rainey, director of the American Youth Commission, estimated that during the early Depression years "40 per cent of the youth (16-24) in the whole country are neither gainfully employed nor in school." Children below working age were utterly dependent upon their parents, and when those parents were unemployed -- as was common in this age of double digit joblessness, before the advent of federal unemployment and food relief programs -- hunger often resulted.
Surveys revealed that a fifth of New York City's children suffered from malnutrition at the height of the Depression. In the impoverished coal regions of Illinois, Kentucky, Ohio, Pennsylvania, and West Virginia that malnutrition rate may have exceeded 90%. Schools and colleges were also thrown into crisis. Declining tax revenues disrupted the education of at least a third of a million children in 1932 in districts which lacked the funds to operate schools. Poverty forced some 80,000 college students to drop-out in 1932-1933, making this the first peace-time period in the twentieth century when American college enrollments declined.
Commodity Prices tumbled druring the depression
In 1918 Curde Oil had soared up over $3 a barrel, driven up by WWI from under 0.50 cents a barrel in 1914. After WWI prices fell back.
By 1929 Oil was down to $1.45 but during the Great Depression Oil fell to only 0.25 cents a barrel in 1933. Oil experienced a sharp bounce back up to $1.00 in 1934.
Wikipedia -Great Dpression
The Great Dpression reference links
Library of Economics Liberty
Essays on the great depression
by Ben Bernanke
Great Depression by T Hall & D Ferguson
About the Great Depression
The World in Depression 1929-39
Lessons from the Great Depression