General information about great depression

The great depression in 1930s was the worst downturn in the economical condition faced by United States of America. This economic slump distributed to various countries especially industrialized countries. There are many myths that lead to this great depression timeline. One among the great myths is the intervention of the government was responsible for the onset. Let us see some of the general information about this great depression timeline. This peaked between the years of 1932 and 1933. Nearly 6,000 street vendors were forced to the situation of walked to the streets of the city and sold an apple for 5 cents. The name of the president Herbert Hoover became the responsibility with the poverty faced by several numbers of people. At the time soup was known as Hoover stew. Shanty towns made using sheets and cardboard were known as hoovervilles.

Zippers were used widely at the time since buttons became very costly. Due to the poor circulation of money, United States of America did not cast nickels in the years 1932 and 1933. The hit song of this time was the song sung by Bing Crosby. Several thousands of people camped out on the lawn in New York City with their families. At this time, this park was considered as an empty reservoir. In the year 1940, 2.5 million Americans had migrated from the Great Plains and moved to other places. Nearly 200,000 people migrated towards California. The word skid row arouse during this great depression timeline. One among the largest Hooverville’s built in this nation was St. Louis and it was built in the year 1930. This Hooverville’s had churches, mayor and social institutions. Shantytown was financed by some private contributors and it existed until 1936. Some of the comic strips like dick Tracy, flash Gordon and superman made the children get entertained during this depression.

“ Of mice and men ” and “ the grapes of wrath ” were the books published at the great depression timeline by the author john Steinbeck. These books describe the lives of people at the depression time and devastating effects of this condition. Let us see some of the financial facts during the period of great depression. In the period of 1920s, one percent of the wealthiest people have owned properties more than third of American properties. When the stock speculator became the prominent practice in United States, bank provides money to the investors for buying stock. About 4 dollars out of 10 dollars were borrowed by the investors from the banks as a practice. This method was used by the government of U.S to let investors buy some stock. Average wage of the family fell to 40 percent between the years 19298 and 1932. The income of the people fell from 2,300 to 1,500 dollars a year. During the time of 1930s, employees involved in manufacturing have earned 17 dollars per week and doctors earned 61 dollars per week. The new deals made by the president Franklin D. Roosevelt helped in getting the country out from the poor economic conditions.


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