Invention of the Telephone - Technology - 1876 The telephone was invented by Alexander Graham Bell. He used the idea off of …show more content…
The Great Depression was the most severe economic depression in the 20th-century, beginning on black Tuesday, when the stock market crashed. International trade, personal income, prices, and profits all plummeted. Industrial production declined by 47%, gross domestic product fell by 30%, and the price index declined by 33%. Businesses and banks closed, causing people to lose their life savings. Farming suffered as crop prices fell. Unemployment reached a high of 27%. People lost their homes, lived on the streets, and had no source of income for food. They attempted to save the little money they had rather than spend or invest. President Hoover felt that it was not the responsibility of the government to provide relief. Relief did not come until after the 1932 election when Franklin D. Roosevelt was elected