Effects Of The Great Depression

1329 WordsMar 17, 20156 Pages
Del pozo 1 Zackery Del Pozo Mrs.Kent English 8 3/12/2015 The Effects of the Great Depression The Great Depression, the worst economic recession in US history. In October 1929 the U.S. stock market crashed. This event is commonly referred to as the beginning of the Depression. The stock market crashed in New York causing the rest of America to fall. It was not just one factor, but a combination of domestic and worldwide conditions that led to the Great Depression. There are many theories of what caused the Great Depression, however, they are not all agreed upon. This paper is about how the Great Depression occurred, what the Great Depression is, how it affected people, jobs, businesses, the President during the Great Depression, World War II, and how the Great Depression ended on October 18th the stock market began to crash. Panic started to set in as bankers attempted to stabilize the market. However the market went into freefall and on October 29th stock prices collapsed completely. The consumer spending dropped and stores began to pile up on excess goods, which slowed production. Billions of dollars were lost, wiping out thousands of investors, and stock tinkers ran hours behind because the machinery could not handle the volume of trading. After October 29th stock prices continued to drop as the United States collapsed into the Great Depression. Not only the stock market had been affected. Nearly seven hundred banks Del pozo 2 failed in 1929 and about 2,300 failed over the
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