How Did Al Capone Contribute To The Great Depression

831 Words4 Pages
Black Tuesday: the beginning of the Great Depression figure.1 People flood the streets of New York after the stock market crash. In October 29, 1929, panicked crowd flooded the streets of New York City. At that day, investors at New York Stock Exchange traded almost 16 million shares, nearly 4 times of the normal value at the time and causes billions of dollars of lost. During the roaring twenties, while the American cities prospered, the society and economy continued to neglect the agriculture industry, and created widespread financial despair among American farmers throughout the decade. This is later blamed to be one of the key factor that led to the devastating stock market crash in 1929. In the aftermath of this event, the economy…show more content…
Al Capone (1899-1947) was an American gangster who was active during the era of Prohibition as the founder and boss of the Chicago Outfit. During the time of Prohibition when Al Capone was in charge of the gang, the gang of Chicago Outfit has been involved in a variety of criminal activities, including distribution of alcohol, gambling, corruption and murdering. On October 18, 1931, Capone was eventually convicted after trial and on November 24, was sentenced to eleven years in federal prison, fined $50,000 and charged $7,692 for court costs, in addition to $215,000 and interest on unpaid taxes. On November 16, 1939, Al Capone was released after having served more than seven years in Prison, he never publicly returned to Chicago after his release, and was diagnosed to have a mentality of a 12-year-old. Assembly…show more content…
Henry Ford and his invention: The Assembly Line was one of the most important chapters in the 20th century, and one of the great leaps of the Industrialization. Before 1913, Ford has already been looking for ways to improve the production number of his best-selling Model T, in order to reduce the production cost and so to lower the price and be able to sell it in great numbers. To building the predecessor of Model T, the Model N, the process required parts of the automobile to be arranged beforehand, put the under-construction car on a skid and slowly dragged it down the line as they work and finish the car step by step. In which, the working hour required by the construction of each car became unsatisfactory. In 1913, Henry Ford invented the first assembly line for mass-production of automobiles, inspired by the continuously-flowing procedures of manufacturing from other fields, especially food and clothing products. The invention of the assembly line eventually turned the Industrialization to a whole new level with the faster than ever production rate ready for mass production and global
Open Document