The Stock Market Crash of 1929 led the United States into one of the most unforgettable time periods in history- the Great Depression. During this economic disaster, political, economic, and social institutions were in turmoil. In attempt to solve the corruptions brought about by the Great Depression, actions were taken by the government, various groups, and subtly by individuals. Unemployment levels in the United States reached as staggering 25%. This rate was so high due to the decrease in consumer consuming confidence; hence employers had no choice but to decrease their production and lay off workers. With item prices dropping, this made the value of wages higher. The Stock Market Crash of 1929 affected the workers, as shown in Document 1, because the percent of workforce unemployed was rising. In 1929 the unemployment rate was about 5%; however, in it increased to about 25%. Self-employed farmers were also vulnerable during this time. The Great Plain regions of the United States suffered a severe drought accompanied with heavy winds during the 1930s. This caused many farmers to become deprived of food quantity consumption which led their farms to foreclose. Many farmers left their properties and headed west in hopes of acquiring another job. "Hoovervilles," which are country shanty towns were housing for those that couldn't afford to live. People would do anything to keep off starvation, for example, selling apples on sidewalks. In Document 3, Vera, a college-educated woman in NYC never had a job. She lived on a small inheritance, but by the summer 1934 it was gone and the hopes of getting a job was scarce. Vera had no money to pay rent for her furnished room and for food she depended almost entirely on occasional dinner invitations from friends. The crash also affected banks. After the market crashed, people were afraid and paranoid- this led to Black Tuesday. Due to this outcome, many refused to trust financial institutions and so they went to retrieve their money from the banks. In New Jersey, people were trying to withdraw their life savings- unfortunately, often too late. This breed them to close their doors; many of them forever. Documents 1 and 2 are alike because in Document 2, the unemployed people who rushed to withdraw their money increased the rate of unemployment. Savings of many years to thousands of families, were gone, and farmers found no markets for their produce. According to Document 5, President Franklin Delano
July 25, 2013
The Great Depression
The Great Depression was a big tragedy that left a lot of Americans out of work and
hungry. It affected many people’s lives and a lot of people suffered and even died. The
depression lasted roughly 12 years. Many believe that the Federal Reserve Board had many
failed policies. They caused a shrinking of the money supply that made economic conditions
worse. The stock market crash on October 29, 1929 signified the beginning of the depression and
The Great Depression was a very complicated economic depression which had many factors contributing to it. To pinpoint the exact causes of the Great Depression is so complicated because all the factors relied on each other. When one thing went wrong, other things were soon to follow. Over production and under consumption, the stock market speculation, and the inequity of wealth distribution would be considered majors causes that led to the Great Depression.
The over production and under consumption…
The Great Depression
Table of Contents
The Great Depression was a severe worldwide economic depression in the decade before World War II. The timing of the Great Depression varied across nations. But it most countries is started in 1930 and lasted until the late 1930s or middle 1940s. It was the longest, deepest, and most widespread depression of the 20th century. The Great Depression is commonly used as an example of how far the world's economy…
The Great Depression was a worldwide event that was an economic meltdown. Most people agree that the beginning of the Great Depression was Black Tuesday on October 29, 1929. According to Taylor, on that particular Black Tuesday, “the Dow Jones Industrial Average fell almost 23 percent and the market lost between $8 billion and $9 billion in value.” During this time, there was widespread unemployment, homelessness, a major drop in industry, debt deflation and an 89 percent drop in stock prices…
or have learned something about the great depression and the effects it had on the United States. There are a list of issues the created the great depression, but have we actually thought about it, and tried to understand it before? In the 1920’s the American economy was going strong, for the most part, and the vast majority of Americans had witnessed economic growth, however, stock prices fell, more and more issues arose, and then came the great depression which created uneven distribution of wealth…
States history was the Great Depression. This had brought one of the greatest and strongest of countries to its knees. I believe there are three main reasons that contributed to the economic collapse of the United States. New York stock Market crashed, The Dustbowl, and thousands of migrants move to the Northwest. But there are also three causes that helped U.S. recovered from this tragic event. They were Roosevelt’s New Deal, Grand Coulee Dam, and World War II.
The Great Depression began with New York…
Many people were affected by the Great Depression. After the stock market crash in 1929, the country changed in a lot of way. Many people lost their jobs because of this downturn in the economy. During the Great Depression practically every person had to adjust to a different way of living than what they were used to. This tells how life changed for all Americans. During this time many children didn’t receive education because many communities had to close their schools down during the 1932-1933…
February 14, 2013
The Great Depression and the New Deal
The 1930’s was one of the lowest points in American history. The stock market and economy was at an all-time low. As many Americans began selling their stocks, the market plummeted. This caused many people to lose their money and investments due to them buying on margin. During the election of 1932, President Hoover was removed from office and in came Franklin D. Roosevelt. Roosevelt went to work right away and passed…
The Great Depression
As we all know, the Great Depression was a severe economic depression. It was world wide and happened in the years before World War II. The greatest of despair for the community that I live in was the years from about 1930 until 1934. My family has lived here forever, just above Tellico Plains in the mountains is a little community called Coker Creek. This is where my family has lived for years and years. Even at the time of the Great Depression. Including my Great Aunt Lucille…
Causes of The Great Depression
Fundamental cause – contraction in spending i.e. aggregate demand.
Decline in production as inventory level at manufacturers and merchandisers increased.
Transmitted to rest of the world mainly through the gold standard.
Variety of other factors also fuelled the downturn in various countries.
Major causes are discussed here.
Stock Market Crash
Decline in output occurred in the U.S. during the summer of 1929.
Stemmed from tight U.S. monetary policy aimed at…