The Great Depression Essay example

Submitted By candy335
Words: 1210
Pages: 5
Open Document
Depression are part of the economic cycle which includes: Peak, Recession and expansion; sometimes the economy experience a fall after a peak but when this is greater them the previous fall is call a depression and this have severed consequence like : unemployment, inflation and loss of currency value. When a depression strikes the government have to intervene with reforms to help the economy because they are the only ones that can accelerate the healing process. The Great Depression started in the late 1920s, is one of the hardest event that American people had faces since the Civil war; the stock market crash was the beginning of the nightmare because when prices got down the stock panic begins with all the people trying to sell their stocks but no one was buying. The stock market was a saved way to get rich before the great depression, a lot of people lost all their investment and saving, and when bankruptcy with no hope of getting their money back. Many banks had invest their clients’ money in the stock market, they lost part of their money with the crash so they have to close, when people start seeing banks closing the rush to get their money so the people that withdraw their money save part of their investment but a lot of people did not lost all their money because when the bank closes there is no way to get the money back. Business and industries where also affect, because they lost some of their money in the crash and losses more money when banks started to closes, so to keep the business running they have to cut wages and hours so they can survive, a lot of business have to close because they had financial problems which got more severe when people stop consuming because they did not have money to spend, has a consequence all of people where fire from their jobs with no hope of getting back. Farmers where affect by a sand storm call “The Dust Bowl” this happen because the accumulate years of farming and with the effects of the drought cause the grass to disappear has a consequences the land got dry and when high winds pick up the dirt and whirled it for miles, living farmers without their crops. Jennifer Rosenberg says “These small farmers were usually already in debt, borrowing money for seed and paying it back when their crops came in.” Because the farmer did not have their crop they have to give their land to the bank to pay their debt so they were unemployed and homeless. During depression a lot of people lost their jobs and saving so they start to look for jobs in other part of the country, a few people had cars so they use trails has their primary source of transportation. The large portion of people traveling where teenagers but their where men, women and entire families traveling for their new life’s far from home, when there was a job opening a lot of people apply for the job but a few people find jobs, the one that did find jobs have to stay shantytown because that was the only thing they can afford, this houses where built with anything they can find like: driftwood, cardboard, or even newspapers. The farmers that lost they land and job usually headed west to California because their where rumors of a lot of jobs, a few farmers got some seasonal jobs, the conditions for their families where transient and hostile.
Gene Smiley says “The federal government took over responsibility for the elderly population with the creation of Social Security.” They intervene in the create depression with this reform they can have an accurate percentage of the people unemployed and they can help the people in the future because they can provide a support when a crisis strikes again. During the 1932 presidential election, Hoover did not stand a chance at reelection and Franklin
D. Roosevelt won in a landslide. People of the United States had high hopes that President
Roosevelt would be able to solve all their woes. As
Show More

Related Documents: The Great Depression Essay example

The Great Depression

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 lasted until…

Words 867 - Pages 4

The Great Depression

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…

Words 2199 - Pages 9

Essay on The Great Depression

The Great Depression Table of Contents Final Draft Sources Pictures 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…

Words 376 - Pages 2

Nevada Great Depression

did the great depression affect Nevada? The great depression was a time when the US money was very low. The amount of unemployment and the number of homeless people rose dramatically. This was one of the worst times for a great depression because the Second World War. The president at the time was Herbert hoover. He would try to solve this problem but all his solutions would fail. After hoover presidency Franklin D Roosevelt would come into office and eventually solve the great depression by created…

Words 560 - Pages 3

Great Depression Causes

The Great Depression was the worst economic depression in the history of the United States of America. It caused many Americans to face and experience hard times and hardships during this time. This major event occurred on October 24, 1929 (Great Depression, 2009). This event lasted for many years. The Great Depression caused many people lost many things. Furthermore, the American people lost their job, home and many other valuable things that were important to them. There were many things that led…

Words 852 - Pages 4

The Great Depression Essay

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…

Words 429 - Pages 2

The Great Depression Essay

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…

Words 1017 - Pages 5

Causes Of The Great Depression

First of all, The Great Depression became one of the most extreme monetary scenarios the world had ever seen. It all commenced for the duration of overdue 1920’s and lasted till 1930’s. President Hoover also 31st president of the United States did not understand the complexity of the true damage that was coming in these coming years. Although the beginning of melancholy turned into United Sates with United States Economy being fantastically correlated with the international economic system, the…

Words 309 - Pages 2

Essay the great depression

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…

Words 1296 - Pages 6

Essay on The Great Depression

Branton 1 Adrianne English 101 04 August The Great Depression The Great Depression began during the 1929. It was a very severe economic devastation that happened in the United States history. President Franklin Roosevelt had to make new laws just to protect the citizens of the United States as a result of the Great Depression. President Franklin Roosevelt made deals, social security, gave more rights to the labor union, and he signed the law for a minimum wage plus 40-hour work week.…

Words 1048 - Pages 5