The Great depression Introduction: The great depression of 1930 was one the most disastrous event in the economic history. It started from the United States and then spread to the other countries. It lasted for 10 years and brought immense problems for the people and the government of that time. The great depression of 1930 is studied as an example of how far a country’s economy can fall. The recovery of many countries, from the great depression started just before the World War 2.
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.
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 Great Railroad Strike of 1877 The Great Railroad Strike of 1877 began on July 7, 1877 in Martinsburg, West Virginia. Workers became angry when the company had reduced their wages for the second time within the previous year. “The strikers refused to let the trains run until the most recent pay cut was returned to the employees” (“Great Railroad Strike of 1877”). The decrease in wages was a result of the economy’s recent downfall. According to Joseph Adamczyk, “That year the country was in the fourth year of a prolonged economic depression after the panic of 1873” (Adamczyk).
Harper Lee’s To Kill a Mockingbird. Published in 1960, a model of conventional plot and character, the novel is the most widely read twentieth century American work of fiction devoted to the issue of race. To Kill a Mockingbird begins in the summer of 1932 and concludes in the fall of 1935. These are the years of the Great Depression, one of the most traumatic periods in American history. The causes of the catastrophe were complex, but most historians agree that an unstable economic situation was devastated by the stock market crash in New York City in October 1929.
America was thrown into desperation as the stock market crumbled, marking the official beginning of the worst economic crash in the history of the world. Banks shut down, people became bankrupt and the number of unemployed reached one-quarter of the workforce. Farmers needed to produce more goods for the same amount of money; which led to a huge seven-year drought. ‘The dirty thirties.’ When thousands of workers migrated to California with a hope of achieving ‘The American Dream.’ Steinbeck was interested in those who strived for a better life and those who had hopes and dreams. George and Lennie have these dreams, the dream to “get a little stake” and to “live off the fatta the lan’” But what binds them together is their trust that keeps them moving.
The Great Depression was catastrophic. It was a critical time period in our history when our economy crashed. People lost their jobs, and families became homeless. Back then, two million people were homeless(Timeline). Today, 564,708 people are homeless(Social Solutions).
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
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.
The Great Depression (1929-39) was the most profound and longest-enduring financial downturn in the historical backdrop of the Western industrialized world. In the United States, the Great Depression started not long after the share trading system accident of October 1929, which sent Wall Street into a frenzy and wiped out a huge number of speculators. Throughout the following quite a while, purchaser spending and venture dropped, bringing about steep decreases in modern yield and rising levels of unemployment as coming up short organizations laid off laborers. By 1933, when the Great Depression came to its nadir, exactly 13 to 15 million Americans were unemployed and about portion of the nation's banks had fizzled. Genuine yield and costs fell continusely.
Seeing how the economy was so shaky, people began to lose confidence. When the businesses started to lose their money, they had to start letting their workers go. This resulted in the unemployment rate rising immensely. The closing of the Ford Plant is an example of the spike in the unemployment rate. People without work were unable to make an income which meant they had to change the way
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.
Unfortunately, on October 1929, people were being informed that the New York stock market had crashed. In fact, many different banks at this time shutdown with several million citizens hard earned savings. Therefore, over the next few year many face the hardest times of their lives; their employment being taken, food being scarce to
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 market actually crashed, millions of shares became worthless and investments were lost. Within a week from “Black Tuesday” the market lost $30 billion leaving millions of people
The Great Depression began in 1929, when stocks on the New York Stock Exchange lost half of their value. As stocks continued to fall, businesses began to fail and unemployment rose dramatically. Life savings were lost and banks had failed, leaving many Americans with nothing. All around people began to lose their jobs and homes. Forced to live on the streets and live in shacks.