The Great Depression affected Alabama by devastating farming businesses and the manufacturing industries in larger cities such as Birmingham. The beginning of the Great Depression as far as Alabama is concerned had no official start date. Many things led up to the financial devastation, and some historians believe that the boll weevil infestation of 1920 was the catalyst that led to the area's harsh economic fall.Know More
The boll weevil infestation affected around 207,000 cotton farms, most of which were run by tenant farmers. Because the weevils were destroying the cotton crops, cotton stock prices fell drastically.
As time went on, employment in the non-farming industries plummeted. For example, Birmingham went from having 100,000 people employed full-time to only 15,000 in a short period.
Even though there were many charitable organizations trying to help the people of Alabama between 1929 and 1933, they were overwhelmed by the sheer number of people who needed them.
To add to the problem, the L&N railroad expelled 27,200 transients from the state who were illegally riding freight trains. This action tore apart families because nearly half of those people were in their teens. They were found trying to either leave the state or enter via train by detectives working for the railroad.Learn more about US History
As a result of his commitment to balancing the federal budget and his business-friendly policies, President Calvin Coolidge successfully strove to maintain the economic good times the United States enjoyed between the short depression that occurred immediately after World War I and the Great Depression. Other characteristics of "Coolidge prosperity" included rising wages, declining unemployment, decreasing inflation and a bull market.Full Answer >
The stock market crash and subsequent economic depression, known as the Great Depression, hit the deep South much harder than the rest of the country. Life was difficult for all Southerners, particularly African-Americans, during this decade, as cotton prices fell and the boll weevil wiped out crops on a large scale.Full Answer >
The Great Depression began in the United States in September 1929 and lasted through 1939. With the stock market crash in October 1929 the depression was felt worldwide, with most countries experiencing extreme financial hardship, some through the middle 1940s.Full Answer >
The Great Depression lasted for approximately 10 years, from 1929 to 1939. The stock market crash in October 1929 wiped out millions of investors and sent Wall Street into a panic. By 1933, 13 to 15 million Americans were unemployed, and almost half of U.S. banks had failed.Full Answer >