Congress raises Tariffs, which boosted the American economy, but worsened the economic state of European countries, especially Germany
Germany suffers from hyperinflation due to the heavy costs of reparation because of the war. one American dollar=7,000 German marks
The Great Depression was a point in history where the American stock market crashed, which in turn increased unemployment, put companies out of business, and shut down a ton of banks.
Stocks dropped another 16 percent as Banks were in panic
The stock market crashed on October 24, 1929, Bringing stocks down 11 %
Stock Prices fell another 13 percent
The Stocks hit bottom, and as a result, they are traded sideways
The New York bank failed, losing 200 million dollars. It was the largest bank failure in all of American history.
Franklin d. Roosevelt is elected. He would put the new deal into action along with the emergency banking act.
The new deal was a series of work projects and financial reforms and regulations. This would end help bring an end to The Great Depression