Group+J

Group J
 * //Topic: The Great Depression// || //Group Members: Claire Chapman and Ashley Adeshola// ||
 * //[|Point of View -]// || //[|Dramatic Question: What is the Great Depression?]// ||
 * //Choice of Tool//: || //Purpose: Students to learn about events of Great Depression// ||
 * //Grade level: 4th// ||  ||



Script In 1929, just after Republican President Herbert Hoover (1874-1964) took office, the U.S. economy contracted, after eight years of unprecedented growth For 10 years beginning in 1929, most of the world experienced the largest economic depression in history. The Great Depression devastated national economies, threw millions out of work, and contributed to the outbreak of World War II The Great Depression had devastating effects in virtually every country, [|rich] and [|poor]. [|Personal income], tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%.[|[] [|Cities all around the world] were hit hard, especially those dependent on [|heavy industry]. Construction was virtually halted in many countries. [|Farming] and rural areas suffered as crop prices fell by approximately 60% The most enduring symbols of the hard times were the shanty towns called Hoovervilles, thrown up by the homeless. The hard times ended with the rapid growth in employment and government spending for World War II. In November 1932, Democrat Franklin D. Roosevelt (1882-1945) was elected President, but by the time of his inauguration on March 4, 1933, the banking system across the nation was near collapse. There followed on October 29, Black Friday, when the Stock Market took a nosedive. The Dow Jones Industrial Average lost 40 percent of value in eight weeks. Governor Clarence Martin (1887-1955) declared a bank holiday. The following Monday, Roosevelt expanded the closures nationwide. Consumers used IOUs and scrip to buy groceries and pay bills until they had access to their accounts. The common view among economic historians is that the Great Depression ended with the advent of World War II. Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery. It did help in reducing unemployment. America's entry into the war in 1941 finally eliminated the last effects from the Great Depression and brought the U.S. unemployment rate down below 10%.[|[55]] In the U.S., massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending the Depression

links: http://www.historylink.org/index.cfm?DisplayPage=output.cfm&File_Id=3717 http://en.wikipedia.org/wiki/The_great_depression