The Great Depression
President Herbert Hoover
The Great Depression was an event in the 1930's that caused the United States economy to go into its deepest recession yet. The loss of faith in the banks as well as rising unemployment, and a decline in construction, among other things caused the Great Depression to take hold. Had it been taken care of early, it may have not been as big of a problem, but the President at the time, Herbert Hoover, did not want to take action due to his stance on a government-free economy. Due to his mistake, the Depression shook the foundations of many of the most powerful cities, like Chicago.
Chicago's response to the depression
Lake Shore Drive
The depression hit harder in Chicago more than other places due to the city's heavy reliance on manufacturing. Only 50% of Chicagoans were able to keep their jobs through the Depression. Immigrants were hit the hardest by the economic downturn, especially those in manufacturing. In 1932 nearly 50% of many immigrant minorities were employed.
A widespread tax strike arose from the fiscal problems that Chicago was facing. Most of the institutions in Chicago plummeted financially, and even more so when the city's emergency funding ran out. This was mostly due to the city being unequipped to face such a hard blow to its economy. Many workers began protests and strikes during this time. Some of the most violent strikes occurred in the Depression era. The strikes were organized by the Congress of Industrial Organizations.
Eventually, the Republican governor of Chicago was replaced by the Democrats, who were able to revitalize the city with government programs among other things. Eventually, Chicago returned to an acceptable condition. Franklin Roosevelt encouraged heavy implementation of New Deal funds in the city. The funds allowed the city to complete Lake Shore Drive, numerous parks, 30 schools, and a state-of-the-art subway system.
Had it not been for the New Deal, Chicago may have not survived the Depression.
A widespread tax strike arose from the fiscal problems that Chicago was facing. Most of the institutions in Chicago plummeted financially, and even more so when the city's emergency funding ran out. This was mostly due to the city being unequipped to face such a hard blow to its economy. Many workers began protests and strikes during this time. Some of the most violent strikes occurred in the Depression era. The strikes were organized by the Congress of Industrial Organizations.
Eventually, the Republican governor of Chicago was replaced by the Democrats, who were able to revitalize the city with government programs among other things. Eventually, Chicago returned to an acceptable condition. Franklin Roosevelt encouraged heavy implementation of New Deal funds in the city. The funds allowed the city to complete Lake Shore Drive, numerous parks, 30 schools, and a state-of-the-art subway system.
Had it not been for the New Deal, Chicago may have not survived the Depression.