USA HISTORY

Detailed explanation-1: -Industries that suffered the most included agriculture, mining, logging, durable goods, construction, and automobiles. The depression caused major political changes including President Herbert Hoover’s loss in the presidential election of 1932 to Franklin Roosevelt.

Detailed explanation-2: -It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.

Detailed explanation-3: -The first major impact of the Great Depression was the election of Franklin D. Roosevelt in 1932. Herbert Hoover was the President of the United States at the start of the Great Depression and held a general view based on self-reliance.

Detailed explanation-4: -The value of farm produce, declined by half while the land rent to be paid by the peasants remained unchanged. In terms of prices of agricultural commodities, the obligation of the farmers to the state doubled. Farmers and Indian manufacturers therefore had to sell their gold and silver reserves to subsist.