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The American Depression（美国大萧条）began in September 1929 with a great collapse（暴跌）of the stock market（股票市场）in Wall Street，New York. During the money-making mania（狂热）which accompanied（伴随）the great prosperity（繁荣）of the 1920s，“paper”fortunes（财富）were made and the prices of shares（股票）soared（高涨）to record high levels.
President Herbert Hoover（美第三十一位总统赫伯特•胡佛）tried unsuccessfully to abate（减轻）the fever. On September 7 a reaction（反应）set in and on October 24 came the great Wall Street crash（崩溃）. On that Black Thursday，13000 million shares of stock were sold and prices plunged（急降，跳水）faster than ever before.
Huge fortunes were lost by many businessmen，and the savings（储蓄）of millions of small investors（投资者）vanished（化为乌有）. Factories were closed，the number of unemployed（失业者）rocketed（猛增），foreign trade fell，banks failed，mortgages（抵押）were foreclosed（被取消）and，all the time，the prices of wheat，cotton，copper，oil and other commodities（日用商品）kept sinking. The buying power of the United States was paralysed（停滞）.
These were the days of “Buddy，can you spare a dime?”（兄弟，你能匀出一角钱吗？）All over the country people lined up at emergency（紧急情况）“soup kitchen”（济贫处）. Young men rode freight trains（货运列车）looking for work and old people died of starvation（饥饿）. By February 1932 a full third of（三分之一）the American workforce（劳动大军）was idle（失业）. The rest of the world，too，was affected and international trade dwindled（减少，衰退）to a third of its 1928 volume（量）.
In 1933 a new president，Franklin D. Roosevelt（美第三十二任总统罗斯福）was elected. He launched the New Deal（实施新政）and set up a vast（庞大的）system of public works paid for by the state. Contractors’ orders for these schemes（规划）revived（振兴）heavy industry，and workers’ wages restored（恢复）prosperity to thetowns. Trade unions were encouraged，tariffs（关税）lowered and many laws passed which helped to save the economy.
President Herbert Hoover（美第三十一位总统赫伯特•胡佛）tried unsuccessfully to abate（减轻）the fever. On September 7 a reaction（反应）set in and on October 24 came the great Wall Street crash（崩溃）. On that Black Thursday，13000 million shares of stock were sold and prices plunged（急降，跳水）faster than ever before.
Huge fortunes were lost by many businessmen，and the savings（储蓄）of millions of small investors（投资者）vanished（化为乌有）. Factories were closed，the number of unemployed（失业者）rocketed（猛增），foreign trade fell，banks failed，mortgages（抵押）were foreclosed（被取消）and，all the time，the prices of wheat，cotton，copper，oil and other commodities（日用商品）kept sinking. The buying power of the United States was paralysed（停滞）.
These were the days of “Buddy，can you spare a dime?”（兄弟，你能匀出一角钱吗？）All over the country people lined up at emergency（紧急情况）“soup kitchen”（济贫处）. Young men rode freight trains（货运列车）looking for work and old people died of starvation（饥饿）. By February 1932 a full third of（三分之一）the American workforce（劳动大军）was idle（失业）. The rest of the world，too，was affected and international trade dwindled（减少，衰退）to a third of its 1928 volume（量）.
In 1933 a new president，Franklin D. Roosevelt（美第三十二任总统罗斯福）was elected. He launched the New Deal（实施新政）and set up a vast（庞大的）system of public works paid for by the state. Contractors’ orders for these schemes（规划）revived（振兴）heavy industry，and workers’ wages restored（恢复）prosperity to thetowns. Trade unions were encouraged，tariffs（关税）lowered and many laws passed which helped to save the economy.