The year is 1939. You are reading a special edition of The New York Times which features an article about the catastrophic stock market crash of 1929. It has been 10 years. The article reads:
"The Great Depression was an economic disaster in North America, Europe and other industrialized areas of the world. It was the most severe depression ever experienced by the industrialized world. The main cause was the catastrophic collapse of stock market prices in the New York Stock Exchange in 1929. Due to falling stock market prices, banks felt strained and were forced to close. In addition to banks closing, there was a decrease in supply and demand, forcing many businesses to close its doors. Also, farmers could no longer afford the payments on their farm equipment and were forced to sell their crops at extremely cheap rates. Another pitfall was a rise in unemployment to 12 to 15 workers out of work. The depression had political implications as well. In the U.S., economic distress led to the election of Democrat Franklin D. Roosevelt to the presidency in 1932. Despite his attempts to promote recovery, mass unemployment economic strain continued on a smaller scale.
But there is hope for this year, because there’s a war coming, and with that comes work in the machinery warehouses and military infrastructures. Hopefully we are going to come out of the depression!"
After reading the article, you stop and think, “What can I do?”
President Roosevelt really does not understands the American struggle.
If he understood the situation more maybe he would work harder to bring the country out of the depression. He needs to know what had been happening in your neigborhood. It is your job to help him understand!
The floor of the New York Stock Exchange on Oct. 29, 1929
