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 Great Depression was an austere economic depression that began in the late 1920’s and spanned until the late 1930’s. It was the longest and most widespread economic downturn in the history of America. It was characterized by the devastating effects it had on the United States. Personal incomes, tax revenues, profits and prices dropped, while international trade plummeted by more than 50% and unemployment rose to 25%. People all over the country were all impacted by this prolonged recession.
The Great Depression Beginning in 1929, the Great Depression was a true test of the world's economic health and ability to overcome crisis. The Great Depression was a severe economic crisis that was marked by low business activity and intense deflation. The Great Depression began in the United States, but swept all the way across the world and affected every industrialized nation. The Depression lasted for ten straight years and will not be forgotten. Its effects on the global market were visible up until 1954.
This drought caused many problems. Farmers’ crops wouldn’t grow because there was no water. Crops were dying and so were livestock. The dust bowl happened towards the beginning of the Great Depression. The year was 1930, and the winds picked up to become strong gusts.
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.
Imagine trying to survive when the stock market crashes, thousands of banks close, and the Dust Bowl destroys crops. In the 1930s, the United States had a period of financial crisis, known as the Great Depression. The stock market crash, the closure of thousands of banks, and the Dust Bowl wrecked havoc on almost all of the citizens in the United States. The Great Depression led to farmers losing their farms, millions of people becoming migrant workers, and unsafe conditions for laborers. Many farmers lost their land in the 1930s.
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.
In what ways did the Great Depression affect the American people? After a decade of economic prosperity, what seemed like an era that defined the concept of the American dream, quickly came to an end when the stock market on Wall Street collapsed in 1929. The aftermath of the events that occurred on Wall Street would put its heavy mark on the years to follow among the citizens of the United States. Banks closed down, unemployment rose and homelessness increased. It was a widespread national catastrophe that had its impacts on both poor and rich.
John Steinbeck, an American author and communist grew up in Salinas River Valley, California, on a ranch during the Great Depression. The Great Depression was a dreadful economic downturn that started after a stock market crash. This crash led to a downfall domino effect of many investors, businesses, investment, and employment. It all set the stage for the lowest point of the depression where some 15 million Americans were unemployed and roughly half of America’s banks had failed. Steinbeck’s novels all take place in Salinas River Valley, California.
To cite an instance, Brown University wrote, “because of illness and death workers became exceedingly scarce so even peasants felt the effects of the new rise in wages”(“social”). The population decline affected the economy in many ways. Though there were many negative consequences, there were also some positives, such as higher wages. Additionally, an excerpt from 'The Black Death’ reads “The Black Death did more than kill large numbers of people. It also altered many social customs disrupted trade, and made most people fearful of contact with strangers”(Bender 65).
On October 24, 1929, also known as ‘Black Thursday’, one of the greatest economic and social crisis in the United States of America begun. On that day more than 12 and half million shares of stock were sold, which was triple the usual amount. Next, over the following 4 days, the stock market prices fell 23 percent. Afterwards, the Americans had to face suffering and obstacles for the next 10 years. In 1933, the unemployment had risen from 3 percent to 25 percent of nation’s workforce and those who were able to keep their jobs faced harsh reductions in wages.
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.
The Great Depression was the worst economic downturn in the history of the world. It began in the United States when the stock market crashed in October 1929. Everybody was sent into a panic and millions of investors were wiped out. Unemployment levels began to rise after consumer spending and investment dropped, while stock prices continued to increase. Companies started to lay off their workers, and soon nearly thirteen to fifteen million people in America were without jobs.
The Great Depression of 1929 was one of America’s most influential downfalls that crippled society for years. The depression caused many years of failure and poverty for almost all of society. The government’s role during these times was crucial and critical for turning around the economy. The depression had a major effect on government’s power and involvement with the people and states. The government was less involved before the depression.
"Dust Bowl" conditions obliterated three hundred million tons of topsoil, equal to 3,000 hundred-acre farms. Farm families moved west to find jobs in California. The Depression created hard times for all Americans. Failure and helplessness dropped like a shroud over the spirit of a starving nation; the suicide rates increased as people lost hope of employment in hopes of feeding their families. Farmers began to destroy their crops or let them rot in the