Overview | Great Depression and World War II, 1929-1945 | U.S. History Primary Source Timeline | Classroom Materials at the Library of Congress | Library of Congress (2024)

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What are some primary sources of the Great Depression? ›

The longest and deepest downturn in the history of the United States and the modern industrial economy lasted more than a decade, beginning in 1929 and ending during World War II in 1941.

The "Great Depression " was a severe, world -wide economic disintegration symbolized in the United States by the stock market crash on "Black Thursday", October 24, 1929 . The causes of the Great Depression were many and varied, but the impact was visible across the country.

After the fall of France in June 1940, the United States increasingly committed itself to the fight against fascism. Ironically, it was World War II, which had arisen in part out of the Great Depression, that finally pulled the United States out of its decade-long economic crisis.

Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.

Changes in brain chemistry, especially disruptions in neurotransmitters like serotonin, that play an important role in regulating many bodily functions, including mood, sleep, and appetite, are thought to play a particularly important role in depression.

The Great Depression began in 1929 when, in a period of ten weeks, stocks on the New York Stock Exchange lost 50 percent of their value. As stocks continued to fall during the early 1930s, businesses failed, and unemployment rose dramatically. By 1932, one of every four workers was unemployed.

Could the Great Depression happen again? It could, but such an event is unlikely because the Federal Reserve Board is unlikely to sit idly by while the money supply falls by one-third.

The Great Depression was the worst economic downturn in US history. It began in 1929 and did not abate until the end of the 1930s. The stock market crash of October 1929 signaled the beginning of the Great Depression. By 1933, unemployment was at 25 percent and more than 5,000 banks had gone out of business.

What was the Great Depression simple answer? ›

Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.

Many families sought to cope by planting gardens, canning food, buying used bread, and using cardboard and cotton for shoe soles. Despite a steep decline in food prices, many families did without milk or meat. In New York City, milk consumption declined a million gallons a day.

World War II was the biggest and deadliest war in history, involving more than 30 countries. Sparked by the 1939 Nazi invasion of Poland, the war dragged on for six bloody years until the Allies defeated the Axis powers of Nazi Germany, Japan and Italy in 1945.

Mobilizing the economy for world war finally cured the depression. Millions of men and women joined the armed forces, and even larger numbers went to work in well-paying defense jobs. World War Two affected the world and the United States profoundly; it continues to influence us even today.

What were three immediate effects of the Great Depression? Millions were unemployed worldwide. Governments increased their activity in the economy. People were drawn to extremists who offered simple solutions.

Massive unemployment beginning in the middle of the 1920s led to a drop in stock prices. The collapse of the banking industry led many banks to foreclose on home loans, eventually leading to the stock market crash.

A primary source is a first-hand or contemporary account of an event or topic. Primary sources are the most direct evidence of a time or event because they were created by people or things that were there at the time or event. These sources offer original thought and have not been modified by interpretation.

The New Deal in Action: FERA Gives Economic Aid

The Federal Emergency Relief Act of May 12, 1933, implemented President Roosevelt's first major initiative to combat the adverse economic and social effects of the Great Depression.