Increase in suicide rate: During depression and the market crash it is said that many people committed suicide as they lost everything they had. On the day of market crash it said that more than 10 brokers committed suicide. 3. People lost faith in government: After the market crash people didn’t trust the government. Many protest and strikes were carried out against the government.
While many believe that the unprecedented crash of the stock market on October 29, 1920, better known as Black Tuesday, was the cause of the dramatic economic downturn of the century, long-term causes contributed highly to the impending catastrophe. This period of economic depression, aptly named the Great Depression, was due to: downfall of agriculture--farmers mass-produced goods to compensate for the lack of income, decline in industry-- due to tariffs and debt policies, and the decrease in consumer spending--
The percentage of Americans that were losing jobs was outrageous “25 percent of all workers and 37 percent of all nonfarm workers were completely out of work.”(Great Depression) and that only increased. The people moved and were kicked out of their lands feed to find work elsewhere but work was scarce and was no where to be found. The african americans also had a harder time finding work as the whites were given unfair priority. Their was a substantial gap between the rich and the poor and the poor was the lowest percentage of people in the Americas. 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.
The relationship of acute crisis in agriculture and the industrial crisis has made the economic depression worse, famers were angry with their government. The banks looked shaky and depositors wanted their money, making them shakier still, and in time many were forced to close. Factories and businesses got rid of large numbers of employees or closed down altogether, and soon there was no money to buy the farmer’s products or anything else and this causes people is inability to buy Agricultural products. “Farmers struggled with low prices all through the 1920s." Desperate bankers called in their loans, but farmers had no money to pay them and foreclosures and bankruptcy sales became daily events.
According to Feason in his book, Kansas in the great depression, he said; “Price falls also had a destabilizing effect in the farm community. Farm income was suddenly reduced, and it became especially services for operators holding mortgages who feared the real burden of their debt dramatically increased. Farm closures and the desperate, even violent attempt to prevent them became increasingly common news”, (p.2). This statement is showing how difficult, it was for the farmers and other U.S. firms to export goods. And being that the farmers make up to 1/3 of the nation in the 1930’s, their decrease in export and lack of income had a big severe effect on the nation’s economy.
Due to Germany losing in World War I (1914-1918), the German nation had to pay for War Reparations to the victors of the war. In the years after, Germany faced a crisis of inflation and hyperinflation under the Weimar Republic, which in turn led the German people to live in poverty. As poverty spread throughout Germany, middle-class Germans and the working class began to see their monthly wages become worthless and entire savings vanishing. By 1924 and 1929, the Great Depression increased Germany’s unemployment rate by the millions overnight similar to the United States at the time. In November of 1923, one german man led an unsuccessful rebellion, which is known as the Beer hall Putsch.
The colonists barely made it through winter as they had assistance with all necessary aid by the six or seven people who were immune of diseases. Only fifty out of one hundred colonists have survived the time of suffering. In the article, “Colonial America Depended on the Enslavement of Indigenous People”, Marissa Fessenden states, “In 1637, they burned a village on the banks of the Mystic River in southeastern Connecticut, killing 400 to 700 Pequots.” The colonists had murdered natives by destroying their homes and territory. During the Pequot war, many of their tribe members were lost. This weakened the natives in war as they had very little men to send to resist the colonists.
The 1930’s were a tough time, especially for the farmers who lost theirs farms and for the many children who died from the dust. The Dust Bowl was caused by modern farming tools and the large number of unprepared and unprotected farms. It is said that "In 1931, dust from the seriously over-plowed and over-grazed prairie lands began to blow. And, it continued to blow for eight long, dry years. As the storms blew across the plains, it came in a yellowish-brown haze from the South and in rolling walls of black from the North.
While the Great Depression was still happening, another complication hit the United States. This complication only affected a small region of America, and caused almost 40 dust storms. “The Dust Bowl was given the name to the great plains region devastated by the drought in the 1930’s depression ridden America,” (Foner and Garraty). The plains region thought the drought was the worst part of their issue, only to find out there was more coming. The land in the region was getting dry without any water, and all the farmlands became dusty fields.
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.
Many people believe that The Great Depression began when the stock market crashed on October 29, 1929. In the mid to late 1920’s the stock market grew majorly, the stock prices skyrocketed gaining interest from all kinds of people. As stock prices continued to rise, the market became very poplar. Eventually the stock prices started to fall during September through early October, and by October 24 the market was starting to crash. On “Black Thursday” (October 24,1929) 12.9 million shares were traded in order for investors to save what little money they could.
When the Dust Bowl came it completely destroyed the agriculture due to the severe drought that had come before the actual storm arrived. Some of the farmers managed to actually farm the areas of the drought, but once the storms arrived
Five days later some 16 million were traded the stock market had crashed. These actions led to people being fired, wages fell. The Great Depression that hit the United States was the first successful attempt. The Great Depression had an effect on many families financially. The government decided to step in and that’s when welfare really started, the social security act in 1935 which was amended in 1938.
THE GREAT DEPRESSION 1929 was the start of the deepest and darkest time for the United States Stock Market and the people of the United States. The Market crash, the loss of American jobs and homes, lead to one of the hardest downfalls in American history. Along with billions of dollars lost due to bad stock trading, over extending on personal credit and the spending of money that had yet to be produced. The American people never stood a chance and in a matter of 10 days the lives of almost everyone changed. In 1928 Herbert Hoover was elected as president.
First of all, one of the most diversity factor of the economic was the Stock Markets. During the 1920, the nation stock growth bringing an increased demand for American goods and speedy industrial growth. Things were looking good for the United States during the roaring twenties. The Stock Market crash of 1929, led to the ruin of many Americans and was followed by the great depression. The Great Depression witnessed the end of the economic boom in the 1920 's.