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Jump Back in Time Depression & WWII (1929-1945)
 
Waiting for Relief Checks, Calipatria, California
People wait for relief checks from the government in Calipatria, California 1937

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The Stock Market Fell To Its Lowest Point During the Depression
July 8, 1932

Tarpley, the bank manager, was forced to sell his belongings and leave his hometown to look for work, but he was fortunate, as the Great Crash was only a minor setback for him. "Of course I felt like I was ruined at the time," he told an interviewer in 1940, "but if the crash had not come, I might have still been down in that little South Georgia town working for a small salary."

When Franklin Roosevelt was elected president at the end of 1932, he promised Americans a New Deal to bring economic relief. The government created many agencies to revive industry and agriculture and create jobs to help Americans get back on their feet. Important reforms to the banking and investment industry were made. The Federal Deposit Insurance Corporation (FDIC) was established to insure bank deposits, and the Securities and Exchange Commission (SEC) was formed to protect against stock market fraud. It took a long time though for the American economy to emerge from the Great Depression. The depression continued for 10 more years and didn't end until the military buildup of the early 1940s, as the United States geared up to enter World War ll.

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