Republican Herbert Hoover (1874-1964), was president when the Great Depression began. In March 1930, he announced that a crisis had begun, but that was not for long. He had no idea that the crisis would last until the outbreak of World War II (1939). People who lost their homes often lived in so-called "Hoover Villas, " or slums, which were named after the president. The Wall Street Crisis of 1929 was one of the main causes of the Great Depression. The 1929 stock market crash was the most devastating catastrophe in the history of the United States.
On Black Tuesday, October 29, 1929, the market lost $ 14 billion, and in a week the losses reached $ 30 billion. This was ten times more than the annual federal budget and the current money was $ 377, 587, 032, 770. In the worst years of the Great Depression (1933-1934), the total unemployment rate was 25% (1 in 4 people) and another 25 % worked part-time. An interesting fact, the board game Monopoly became extremely popular during the Great Depression.
Between 1930 and 1935, nearly 750, 000 households were lost to bankruptcies. It is interesting that when the crisis struck, the Americans began to accuse the Mesican emigrants of taking away jobs from the indigenous population, and mass deportations of Mexicans to their homeland began. During the Great Depression, nearly 1.5 million women were abandoned by their husbands because it was easier for a man to feed on his own. Democrat Franklin Delano Roosevelt (1882-1945) became president in March 1933 and promised a New Deal for the American people. He tried to create jobs by creating federal organizations. It is not known whether this situation improved or not, America recovered from the crisis only after 8 years.