Essay On The Great Depression

Submitted By bigkidnow

Words: 463

Pages: 2

Open Document

As the “Roaring Twenties” were coming to an end, people continued to assume that the market would continue to rise indefinitely, due to the recent wealth and success of many during the past decade. America was devastated the day they were proven significantly wrong. Come October 24th of 1929, the stock market took a fall for the worst. Stock prices dropped, and the poor and rich lost almost everything in the crash. The great depression brought about both positive and negative effects. Although the depression caused a significant unemployment rate drop and the closing of over 9,000 banks nationwide, it did create the welfare and social programs we use today. The main cause of the depression was Black Tuesday. Overnight, hundreds of thousands of customers began to withdraw their deposits on this day. With no money to lend and loans going sour as businesses and farmers started to fail, the American banking crisis deepened. Those failures resulted in the state deposit insurance programs ending. The failed banks were primarily small, rural banks, and people in metropolitan areas were generally unconcerned. Most investors and businessmen concluded that these banks were weak and poorly managed, and cause their failure. These failures did end up strengthening our current banking system. Unemployment was one of the most memorable effects of the great depression. The unemployment rate rose from 3% in 1929 to 25% by 1933. The market became so bad that companies were forced to lay thousands of employees off. Companies across the nation were downsizing left and right, increasing the unemployment rate. It affected millions of families that were forced to turn to welfare checks as a main source of income. Although the depression was always known for the tremendous

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