Jul 03 2011 06:20 pm
Posted by Xue Ying Chen under July 5 Assignment
New York Vs. Philadephia
http://www.youtube.com/watch?feature=related&hl=en&hl=zh-CN&v=S4aPi0ZgN0E
This clip is made by a Youtube user, vietnamgal and been uploaded in 7-26-2008.
The Great Depression was triggered by the stock market crash in 1929. This tragic event soon took effects on every American city, and led to heavy unemployment. New York City was been hit the hardest. By 1932, about 25 percent of the population was jobless, and most of them were concentrated in cities like New York and Philadelphia. New York City had one million unemployed, and Philadelphia had 298,000 people unemployed. In 1933, the unemployment of New York City reached 30 percent. The same year, the congress created FERA (Federal Emergency Relief Administration, which distributed $500 to help the country, and 42 percent of the fund went to the five heavily urbanized cities including New York and Philadelphia.
4 Responses to “New York Vs. Philadephia”
Xue Ying Chen on 03 Jul 2011 at 6:28 pm #
Professor, I am not sure why my video did not show up in this post. I had tried different browsers, but I still had this problem.
jason.zhu on 05 Jul 2011 at 2:06 pm #
Other than heavy unemployment, it also led to poverty, deflation, diminishing incomes and lost economic growth. Cities that were big on heavy manufacturing, such as production of steel and automobiles, suffered the most.