1. Ten Major Events That Shaped the United States
... 1929 precipitated the Great Depression; The worst economic downturn in the history of the nation. The depression had devastating effects on the country. The stock market was in shambles. Many banks couldn't continue to operate. Farmers fell into bankruptcy. A quarter of the working force or 13 million people were unemployed in 1932, and this was only the beginning (Encarta Encyclopedia). The ... to prevent depressions and their associated problems, such as bank panics. This agency was the Federal Reserve Board and it was to have been the loaner of last resorts for banks in order to prev...
- Word Count: 2504
- Approx Pages: 10
- Has Bibliography
- Grade Level: High School