This caused people to become unemployed, and the unemployment rate actually reached 25% in 1933.

All of these factors increasing unemployment and restricting consumption.

These was because foreigners could sell less in the US and earn less US money to buy US goods or make payments on debts owed to the US.

It only takes seconds! Programs such as the Works Progress Administration employed over 8 million Americans to work on public roads and parks. If they weren’t looking for … All of these factors culminated into the crash in 1929, and thus resulted in devastating loss for individuals and nations.

One of the most negative developments of the Depression was the plunge of the nation’s banks toward bankruptcy.

One political cause, which could also be related to economic causes, is the Federal Reserve System, which is the nation’s central bank.

Some held that the New Deal was not as effective as it was thought to be. “The American system is grounded upon the conception that only through ordered liberty, freedom and equal opportunity to the individual will his initiative and enterprise spur on the march of progress”, “The Republican party restored the government to its position as an umpire instead of a player in the economic game”, “For these reasons the American people have gone forward in progress while the rest of the world halted”. Four two more years one in every five people was unemployed. President Roosevelt attempted to soothe race relations by calling on some African Americans as advisers to work in the federal government.

However, critics of President Hoover's approach believed that the federal government should intervene to help Americans more directly. Change ), You are commenting using your Twitter account.

( Log Out /  Another cause was the many weaknesses in the banking systems. FDR’s told the American people that the New Deal would improve the old order not change it, which appeased Conservatives, and would keep the basic structure of American capitalism intact.

This was made worse for the farmers as they had overused the soil, and because in the early 1930s droughts and high winds caused farming to be near to impossible, which meant that they were receiving virtually no income.

Between 1929 and 1933, thousands of banks failed and with it, the economy’s credit supply. His plan entailed the granting of 200$ a month to all citizens over the age of 60 on the restriction that the pension be spent within a month.



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