Today, the United States of America is one of the wealthiest countries in the world, but this was not always the case. Before the most famous Great Depression, our country suffered six other significant depressions, which took place in 1873-1879, 1893-1897, 1907-1908, 1920-1921, 1929-1933, and 1937-1938 (Nordeen 1). All of these periods of economic difficulty were caused by the government's inability to stimulate the country's economy. The greatest depression that the United States has ever endured lasted from 1929-1940. This time period was a great struggle both economically and psychologically for most of the United States population. Although the Great Depression was caused primarily by economic problems, the United States was affected both economically and socially during this period of time.

In 1913, the Federal Reserve Board replaced the Commerce Commission to help avert further economic crises (Nordeen 2). It was a way for the government to become more involved with...