미국교과서 Dictation자료 Unit 2 - History 4 : THE GREAT DEPRESSION

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THE GREAT DEPRESSION
 
   The 1920s were a time of great change. New inventions changed people's lives. Cars and airplanes began to make it faster and easier to travel. Other inventions such as the telephone and radio made it easier for people to communicate with each other over long distances. Millions of people went to see the new "moving pictures." Many parts of the U.S. were getting electric lights for the first time.
   The 1920s were a boom time for businesses. Americans earned more money. By 1929, two out of three homes had a car. Many businesses grew quickly and made large profits. Ordinary working people bought stocks in big companies. The value of the stocks went up as the profits grew larger. People bought stocks because they hoped to get rich quickly.
   But then the stock prices suddenly fell. Owners of stock panicked and sold their stock. On Tuesday, October 29, 1929, the stock market crashed. Owners of stocks lost 74 billion dollars. This day is remembered as Black Tuesday.
   Banks closed. Many people lost all their savings. Businesses closed, and many people lost their jobs and their homes. A time of great hardship began. The United States economy went into a depression. Soon the depression spread to the rest of the world. This was called the Great Depression. In the United States, one out of every three people was unemployed.
   During this period, many farmers were forced to sell their farms. Many farmers became migrant workers. They moved with their families from one place to another looking for work.
   In 1932, Franklin D. Roosevelt was elected President. For him, the Great Depression was a national emergency. He told Americans that he had made a new plan to help the economy. The new plan was called the New Deal.
   The New Deal gave government a more active part in the economy. Roosevelt started government programs to make new jobs. These jobs included building roads, airports, and schools. Many artists and photographers also worked on government projects.
   Congress passed new laws giving the government control of the banks. Under the New Deal, federal laws were passed that helped factory workers and farmers too. The government passed laws to set minimum wages and work hours. Workers were given the right to form unions. Farmers received federal loans that helped them to get back on their feet.
   The government also started the Social Security system and an unemployment insurance program. Both of these programs still exist today. Many other laws were made to protect people and businesses. Roosevelt wanted to make sure that there would never be another depression.