1930s Great Depression

The Great Depression was the worst economic time in the United States and lasted from 1929-1939. The Great Depression began on "Black Tuesday," October 20, 1929. Investors lost confidence in the stock market and millions of people sold their stock. Over 300,000 businesses and millions of people were financially wiped out. About 11,000 banks went out of business wiping out 1 billion dollars of American's savings accounts. Many people also lost their homes. The people who could find work had their incomes slashed. People could not feed their families. Many stood in line for food from charity soup kitchens.

At the same time, a huge drought occurred in the middle of the country. Farms turned to dust and farmers could not grow crops. This was called the Dust Bowl.

Then America elected a President, called Franklin Delano Roosevelt, (FDR) who slowly began to turn the economy around and brought hope and confidence back to ordinary people.