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|Date:||4/23/2014 1:13:28 PM
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Interesting Facts About The Depression
26.As news of the stock market crash spread, customers rushed to their banks to withdraw their money, sparking disastrous “bank runs.” Nobel prize-winning economist Milton Friedman argues that the 1930s market crash itself did not cause the depression, but rather it was the collapse of the banking system during waves of public panic during 1930-1933.
27.The most famous demonstration during the Great Depression was held by the “Bonus Army.” It consisted largely of WWI veterans who requested financial bonuses that were scheduled to be given in 1945 to be paid instead in 1932. The U.S. Army was called in to disperse them.
28.Democrat Franklin Delano Roosevelt (1882-1945) became president in March 1933 and promised a “New Deal for the American people.” During his first hundred days, he attempted to create jobs by establishing federal organizations that were nicknamed “Alphabet Agencies,” such as the TVA, NRA, CCC, and WPA. Economists and historians continue to debate whether Roosevelt’s actions actually deepened and lengthened the Depression.
29.Economist John Maynard Keynes (1883-1946) gained popularity during and after the Great Depression for consistently arguing for government intervention in the economy and for his suspicion of laissez faire policies.
30.In the mountain communities of Appalachia, whole families were reduced to dandelions and blackberries for their basic diet. Some children were so hungry, they chewed on their own hands.
Screech <--- NOT just another Pretty Face, hee hee.
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