This+Day+in+History

The Great Depression   The great depression fell upon the  world as if a huge rain cloud rolled over us and rained on our parade of riches. The morning of Thursday October 24, 1929 the stock market collapsed. The market had been chaotic for days and as that chaos turned to panic the whole thing tumbled to the ground. So as the stock market demobilized everybody’s investment. Many then rushed to their bank to withdrawal their load of money making many banks go bankrupt and fail. “Riches to Rags” like this says many rich and wealthy one day, the next they were living on the street with nothing to spare. It didn’t just strike America affected the whole world. Like in Chile the copper mining company shut down because no other company was buying their products. With the world trade collapsing the demand for ships was slowing to a trickle and so steel and iron production stopped. And as many of you know the alcohol prohibition started during the great depression. But still many smuggled it into illegal bars and actually more deaths from alcohol consumption because people were so depressed from losing their job they just drank beer. Finally when Franklin Roosevelt was elected president he started creating jobs for people(that why he was elected president 4 times) and what really finished off the depression was actually WW2 (world war 2) because every country in the world need supplies for the war and the mass production in the factories created thousands of jobs.