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StoreStatSource ezflaun, 47, But the vast bulk could not afford any loss of money. This had a very important economic impact as these people could no longer afford to spend money and therefore did not buy consumer products.

Therefore as there was no buying, shops went bust and factories had no reason to employ people who were making products that were not being sold. Therefore unemployment became a major issue.

The Great Depression took a while to get going but by the winter of it was at its worst. The impact of the Wall Street Crash: There was no system of benefit for the unemployed. Charities such as the Salvation Army gave out free food and shelter.

It is known that some people actually starved to death. In some states men deliberately set fire to forests to get temporary employment as fire fighters while farmers killed their animals as no-one could afford to buy them in the cities despite there being great hunger there.

The Market Crashes [etygivusyx.web.fc2.com]

What did the government do? The president was a Republican, Herbert Hoover.

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He believed that if you were in trouble you should help yourself and not expect others to help you. Therefore he did not do a great deal to help those out of work. However, Hoover did do some good.

Money was used to create jobs to build things such as the Hoover Dam. In the November election, Hoover was heavily defeated by the Democrat candidate. His name was Franklin Delano Roosevelt. Thirteen years of Republican rule had come to an end. Causes of the Great Depression.

America in the s. Weimar Republic and the Great Depression. History Learning Site History Learning Site Explore 2 Trueman Contact Home About the Author Terms of Use Log In Check out our Music Learning Site.

U.S. Stock Market Crashes and Their Aftermath: Implications for Monetary Policy

Wall Street Crash of and its aftermath Citation: C N Trueman "Wall Street Crash of and its aftermath" historylearningsite. The History Learning Site , 22 May Home About the Author Terms of Use RSS Log In Check out our Music Learning Site. Popular Pages America in the 's - History Learning Site Weimar Republic and the Great Depression - History Learning Site The New Deal - History Learning Site.