Introduction:
The Great depression was the antithesis of the progressive era. It was a time when most middle and low clansmen were struggling to provide for their families due to various financial issues. people were living on the weekly checks being given to them. Herbert Hoover was the president during this period of struggle. The government was in an amorphous state and changes were needed to ameliorate the situation.
Time Line:
1900-1920: Also known as the progressive era, this time period is when the United states had ameliorated. Government actions were being made against big monopolies that were controlling Americas economy such as; trust busting (splitting up big businesses) and government regulations on big companies to see if no laws were being broken. Many Environmental protection acts, and economy booming.
1929: President Hoover elected, 1929-1933
1929: Stock Market Crashed, this caused many investors (1.5 million in total) to lose jobs. most Banks were significantly weakened affecting all Americans.
1929-1933: bank failures, since the stock market crashed banks were starting to fail. at the end of 1933 11000 of the 25000 banks in the United states had failed. Americans lost their saving deposits, in a total 140 billion dollars had been lost.
1930: Tariffs were made by Hoover. there goal was to increase taxes on imported things. Other nations refused to trade with America which ed to 50% decrease in exports.
1932: Franklin D. Roosevelt (FDR 1932-1936)