If you’ve been living in this wild world for a bit of time, then you’ve likely heard plenty of talk about the Great Depression. The Great Depression was easily one of the most severe global economic crises to ever take the world by storm. When people draw reference to the Great Depression they’ll often talk about the extremely high rates of unemployment, poverty, and then the severe reductions that folks saw in terms of liquidity, industrial production, as well as trade. The Wall Street stock market crash is most often referenced as the catalyst for the beginning of the Great Depression. We’ll take a look at some of the most surprising facts that ended up surfacing as a result of the Great Depression.
1. Children would be sent away or abandoned altogether.
To kick things off with the Great Depression facts, there were numerous children that were abandoned and sent away altogether.
2. Numerous people relied on bartering instead of money.
As any significant economic crisis will do, people can end up getting wildly creative. In this case, we’re talking about folks turning to a system of bartering instead of exchanging typical currency.
3. The world witnessed the birth of social security.
Amazingly enough, there were some shining moments during the Great Depression. In this case, we’re talking about the introduction of social security.
4. Thousands of banks folded.
As it goes, tons of banks were wipe clean off the map during the Great Depression.
5. Unemployment surged to a daunting 25%.
Now that’s just crazy, but there it is. The unemployment rate being enduring by folks ended up hitting an absolutely staggering 25%.
6. Crude Shantytowns referred to as “Hoovervilles” popped up everywhere.
The crazy and heartbreakingly rundown shantytowns that were Hoovervilles popped up like wildfire during the Great Depression.
7. Suicide rates soared through the roof.
This is one of those Great Depression facts that just rocks me to my core. It turns out there was the largest increase to date in terms of the overall suicide rate during the Great Depression. The rate itself skyrocketed from 18% in 1928, all the way up to 22.1% in 1932.
8. Bank holidays were implemented to steer clear of panic.
You know things are taking a nosedive down south when you see the widespread implementation of bank holidays to subdue the panic being experienced by folks.
9. Public works programs served to rebuild the broken parts of America.
Fortunately, there were plenty of brilliant minds that were heard at work when it came to strategizing how America was going to dig itself out of the Great Depression.
10. Sales of small luxury goods somehow didn’t disappear.
You wouldn’t expect it, at all, but all the small luxury goods like a fancy lipstick, that were being sold before the Great Depression came into the picture, somehow kept being sold all over the place.
11. The gold standard was fully abandoned.
As with many things that simply had to go during the Great Depression, the gold standard was certainly one of those things that needed to not be used anymore. It really doesn’t come as a shocker eitherf.
12. Penny auctions were able to safeguard farmers.
Thank goodness for those penny auctions. Penny auctions were essentially designed to help save farms and by default then just stick it to the lenders. Apparently, they were quite effective.
13. The Great Depression fully shifted how Americans save money.
As any significant economic crisis will do, the Great Depression ended up fully transforming people’s saving mentalities. Obviously, people were much more so inclined to build up as big of nest eggs as they possibly could.
14. People made clothes out of flour sacks.
Desperate times most often always call for desperate measures. People left and right had to opt for creating their clothing out of flour sacks to cut the costs of living. I shudder to think about those long and unforgiving winter days and nights being suffered through with no heating and nothing but a flour sack to keep you warm.
15. Famous brands with lasting legacies were made during the Great Depression
There was still plenty of entrepreneurship running amok during the exhausting days of the Great Depression. Ada Feed & Seed, Pendleton Grain Growers, and Ocean Spray Cranberries were all started during the Great Depression.
16. The Dust Bowl only made the crisis that much worse.
The Dust Bowl was one of those natural catastrophes that the world really didn’t need during the Great Depression. They were a nightmarish series of apocalyptic dust storms that happened during the 1930s to further amplify the suffering already being delivered by the Great Depression.
17. Farmers literally destroyed crops while people starved.
This is another one of those Great Depression facts that just fills me with a sweltering blind rage. You had countless people suffering a terrifying, endless series of days where the question of having enough food to survive was always present. Then, you had farmers going out of their way to destroy the very crops that were never more important to have.
