Nallely Sagastume Pillsbury US History February 27, 2018 The Great Depression The 1920s was a chaotic time, it dealt with a worldwide depression that affected many countries but most specifically the United States. During this time the economy drifted into a deep decline and left many people jobless and struggling to financially support their families. Many things were going off balance and there seemed no way to solve it, the farming industry fell, unequal distribution of wealth was going around and overproduction was losing a great amount of money, these problems greatly contributed to the Great Depression. The world was falling into chaos but no one really knew what to do until President Franklin D. Roosevelt came up with a great solution
People all over the country were all impacted by this prolonged recession. Many people slumped into poverty and became homeless and unemployed citizens. This immense downturn was due to overproduction, the Wall Street crash, and the weak banking system, the European recession, the Gold Standard and the policies implemented by the Hoover administration. The depression lasted for over a decade before an economic upturn began to take hold. This marked the end of the Great Depression in the 1930’s.
The people were in debt and and just dug themselves a deeper hole “,combined with production of more and more goods and rising personal debt,”(The Great Depressions) and had no way of making money to pay it all back without jobs. This all goes back to the roaring twenties when eh people bought and bought and dint think of the consequences. The biggest problem for the American was the stock market crash “the stock market crashed, triggering the Great Depression, the worst economic collapse in the history of the modern industrial world.”(The Great Depression) leading them into social mayhem. The people although causing this distress themselves sought out other things to blame while being completely helpless in their
In this part of Franklin Roosevelt’s inauguration speech he is encouraging the people of the United States and showing his zeal to improve the economy. In the cause of the depression Roosevelt came up with the plan of the NEW DEAL. In his new deal plan, he aim was to stop deflation. Though there were complications in regards to this
Farmers’ incomes fell, the farmers went bankrupt. “750,000 farms were lost between 1930 and 1935 through bankruptcy and
Following the devastating economic disaster in 1920, 15 million people had not only lost their jobs, but a majority of their savings as well. Many of their homes were dependent on the money used for relief from the government. A number of business and banks were shutting down, the production and sales of services and goods were drastically reduced. All the while, very little aid had reached state level. By May 22, 1933, the Federal Emergency Relief Administration was set up.
“The second year of the reign of Valens (366 CE)... the Roman world was shaken by a violent and destructive earthquake.” “But the tide soon returned with the weight of an immense flood which was severely felt on the coast of sicily, Greece, and Egypt… Fifty thousand persons had lost their lives in the flood.” After Rome lost 50,000 people in the flood the plague killed thousands more. “The resulting disease decimated the population. The population of Rome decreased from a million people to 250,000.” This disease caused the population to decrease severely, and most of the people in the army died as well so they had very little and weak military power.All of these things are happening to Rome and it is causing them to become very weak and have almost no military power because know they only have 250,000 people in all of Rome compared to what they used to have, 1 million. All of this helped play a significant role in the fall of
The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. The FDIC was a provision of the Glass-Steagall Act. During the nine year period from 1921-1929 more than 600 banks failed each year. The failed banks were small banks operating in the rural suburban areas and held the deposits of mostly farmers and blue collar folks. When banks fold and continue to do so, people will start to worry about their money in any bank.
In October of 1929, United States fell into the Great Depression. The Great Depression was the time period in United States’ stock market completely crashed. That same year 600 banks closed down and by 1933 11,000 of the nation’s banks failed. Unemployment rates raised from 3% in 1927 to 25% in 1933. Programs such as Soup Kitchen and Bread Line started serving free or low-cost food to people in need.
was on a downhill slide in the 1930’s. Herbert Hoover was failing to keep the United States above water and the Great Depression had only just begun. On October 29, 1929, on Black Tuesday, the Stock Market crashed and sent investors into despair. The atmosphere in the United States started to decline rapidly, until 1933, when things started to look more promising. Franklin Delano Roosevelt, Eleanor’s husband, was inaugurated into office in 1933, in the midst of the Great Depression.