The depression had steadily grown worse, between twelve and fifteen million industrial workers had lost their jobs. The sharp fall in prices of farm products had brought many persons to a state of poverty. Millions of farmers and city workers had lost their homes and more were about to lose them, because they had no money to pay their taxes and interest on their mortgage. The Great Depression was not solely a result of economic practices. The Great Depression took a momentum of its own. Individuals with mortgages on their homes, who bought cars and other goods on credit and who had purchased stocks on margins "lost it". They stopped purchasing luxurious items such as radios causing them to close down plants or run them only part-time. Thousands of workers were laid off as orders were canceled for copper, wood cabinets, and glass radio tubes. Because of this jobless workers could not

The action ended the banking crisis. Everyone knew that if bank doors were open to all, it passed the test and was "safe". Few persons wished to withdraw to withdraw their money if they knew the bank was sound. The "Runs" stopped, and banking became normal again.

Many people thought that women should not hold jobs as long as men were unemployed. Despite such prejudice, desperation drove a large number of women into the workforce. Many families survived in women in the workforce. Women also worked harder at home to make ends meet. Instead of buying clothes and grocery they sewed their there own clothing, baked their own bread, and carved their vegetables. Some women started home businesses such as laundry and boarding houses.

Milton Friedman, an individual that the monetarist was linked with, viewed much of the Great Depression. Monetarists do not deny the importance of the decisions made by businesses about investments in the early 1930s. Friedman, however, places more emphasis on the drop of the amount of money in circulation as aggregation demand. This, in turn, caused businesses to reduce their investments. Despite the federal's stated goal of stimulating the economy, the money supply decreased by one-third from the start of the recession in 1929 to the depths of the Great Depression in 1933 and 1934. The Monetarists claimed that what would have been just another recession became the Great Depression because of the federal's action. During the period, the federal claimed he wanted banks to loosen their credit. At the same time, the federal continued to sell government securities. This reduced the money in circulation. As a result, people would have been able to invest.

Roosevelt went into action swiftly and vigorously. His first official act declared a "banking Holiday" until treasury officials could examine all banks. The banks that found to be in g

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Approximate Word count = 1279
Approximate Pages = 5 (250 words per page double spaced)