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The stock market begins to skyrocket, but this is not what America was doing. Americas lower class began to grow while the middle class lessened.
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Construction slowing down is a sign that the economy is crumbling.
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The stock markets crash is the intimidate cause of the Great depression. The market lost 30 million dollars in two days causing it to be the worst crash in history.
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When the first bank is concerned about bankruptcies people start to panic
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Trying to cause Americans to buy their own product they raise the taxes on foreign products. This did not effect our economy but it did effect Europe putting them in an economic crisis.
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Another bank becomes bankrupt causing the public to worry. No new legislation had been passed on the subject.
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100,000 banks have failed from 1929 leaving the economy to crumble.
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Roosevelt starts the New Deal, this was to help rebuild the economy. It helped enforce a maximum hours per week, child labor laws, minimum wage, and unemployment compensation. Bank reforms were then put into action as well as civilian conservation corps happening.
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Roosevelt becomes the president. He lowers unemployment drastically from what it was when he became the president to the end of his service.
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This act set a minimum wage and maximum work week.
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World war II caused a majority of the world out of a Great Depression because the governments were putting it into the war.
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When America enters World War II, it causes the Great Depression to end because everyone was needed during that time. With a need for everyone, jobs were filled due to most men being at war.