Great Depression Research Paper

Submitted By Prestonhunter
Words: 456
Pages: 2

Research paper:

The great depression
By Preston Hunter

English 1201


The great depression was a severe worldwide economic depression, in most countries it started in early 1930’s to mid 1940’s and had originated in the U.S after the fall in stock market prices in sept,4th 1929 although it did not effect everyone the same way such as wealthy people did not feel the impact at all and were oblivious to the suffering of others this dramatically changed family’s by many couples could not get married do to inefficient funds, the depression lasted until late 1930’s and in some counties mid 1940’s.

The stock market crash of 1929, was the beginning of the Great Depression, it was preceded by the Roaring '20s, a period when the American public discovered the stock market and dove in head first. The crash wiped out many people's investments and the public was understandably broken. When bank failures erased the savings of those who weren't even invested in the stock market, people were shattered. Although the market crash was unavoidable, the bank failures could have been prevented with better regulation.

While not a direct cause of the Great Depression, the drought that had occurred in the Mississippi Valley in 1930’s was of such proportions that many could not even pay their taxes or other debts and had to sell their farms for no profit to themselves. The area was nicknamed "The Dust Bowl."

As businesses began failing, the government created the Smoot-Hawley Tariff in the 1930’s to help protect American companies. This charged a high tax for imports there by leading to less trade between America and foreign countries along with some economic retaliation.

With the stock market crash and the fears of further economic woes, individuals from all classes stopped purchasing items.