The Great Depression and President Roosevelt The Great Depression was a worldwide business slump of the 1930's. It ranked as the worst and longest period of high unemployment and low business activity in modern times. The Great Depression began in October 1929, when stock values in the United States dropped rapidly. Thousands of stockholders lost large sums of money. Many of these stockholders were even wiped out. Banks, factories, and stores closed and left millions of …
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…America. These collections of shacks and tents were called "Homerville's" after Herbert Hoover, the President of the United States when the depression began. Frustrated and demoralized, many Americans took their protests to the streets, demanding government action. Bibliography: 1. Melanie, Robert S. The Great Depression: America, 1929-1941. Times Bks., 1985. First published in 1984. 2. The World Book Encyclopedia. Field Enterprises Educational Corporation. Volume 8. 1964. 3. Glassman, Bruce. The Crash of '29 and the New Deal. Silver Burdett, 1986. For younger readers.