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The Great Depression: 1929 to 1941



The depression was a big surprise for most Americans, so much so that people where jumping out of buildings. There are many theories about what caused the depression but one is that Federal Reserve Board raised interest rates causing everything to collapse. The Federal Reserve was created to protect form bank panics but ironically eventually caused them. Herbert Hoover was thought to have done absolutely nothing when the depression hit. Herbert Hoover however did pass acts to stop the depression but all he managed to do was to worsen it. For example Hoover raised tariffs and some people agree that lowering prices will cure depression. But Franklin D. Roosevelt wasn’t such a savior ether. Thought some of the acts he implemented did help other where along the lines of what Hoover was doing. For instance the minimum wage and the Davis Bacon Act suffer from the same problems that Herbert Hoovers Acts did. The United States entering World War II was finally what brought the United Sates out of the Depression. As the country prepared for the war, production boosted the economy out of the depression. The United States has survived the larges economic depression this country has seen.