The Great Depression
Ever thought about the great depression war? The Great depression ware happened in the 1900s when markets didn’t have enough food to stock the shops, it was very stressful so bad to where people started to withdraw money and start to move away to a different city .with that it caused many Americans great depression. At the time, Americans were recovering from the shock of World war 1. The United States had become the strongest, economic power. Economic interest spread and were linked with other nations, especially Europe. That had started a prewar. The twenties had developed into an almost schizophrenic decade because economy grew rapidly and life got quicker. Also in the 1920s, the value of goods and services increased. The people noticed that this was solid proof
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With that it made national income decrease. The weak companies went out of business and the stronger ones were forced to cut back, and lay off many workers. So a lot of people were of a job. With this it worsened the depression of many. This depression affected all industries. Between 1930 and 1932, 5,100 banks had closed and stock prices kept falling. All of this had a devastating effect on most of the Americans. From 1930 to 1933 an average of 75,000 workers lost their jobs every week. This caused panhandlers to fill the streets selling apples and people with no jobs to hold up signs that said “I will do anything for money”.
Banks that were still operating began to foreclose on home and business mortgage. And many were evicted, and so were tenants, who failed to pay their rent, many became homeless. Several, hundred homeless women, Chicago 1931. Food grew scarce for many people, some families survived with little earning survived off of stale bread, and canned vegetables. The unemployed survived on handouts from bread lines and soup kitchens. Middle class however did not go
By 1933 millions of Americans were out of work. Bread lines were a common sight in most cities. Hundreds of thousands of people scoured the country in search of food, work, or a roof. There was a popular song from this era known as “Brother, can you spare a dime (Modern)?” A big step that happened for the unemployed were the Civilian Conservation Corps, a government program that brought relief to men between the ages of 18 and 25. The Conservation Corps gave jobs to young men in work camps across the country for about $30 per month. There were about 2 million men that took advantage of these jobs (The Great Depression). These men took part in a variety a jobs that included: planting trees, elimination stream pollution, creating game and bird sanctuaries, and conserving natural gases. For the other part of society work relief came in the form of the Civil Works Administration. These jobs consisted of ditch digging to highway repairs to teaching. Civil Works Administration was created in November 1933 and was ceased in the spring of 1934. Roosevelt continued to offer unemployment programs that offered pay (America).
The stock market crash, called Black Tuesday. Unequal distribution of wealth was a key factor during the time period as well. The day know as “Black Tuesday” was the day the stock market crashed. This led to the fall of stock prices, in fear, people sold their stocks and gathered the money they could. The people who didn’t, lost all of their stocks. Those who bought them on credit, they were now in debt. Investors lost a collective amount equal to the amount spent in WWI, that’s billions of dollars gone, approximately thirty-two billion dollars (32,000,000,000). As bad as the crash was, unequal distribution of wealth did not help. The rich saw an income increase of 70%, and the poor saw an increase of 9%. More than 70% of families earned less than $2500/year. Many of these families couldn't afford household products, such as the flood of overproduced goods. Only one out of ten families owned an electric refrigerator. One thing many people overlook when on the subject of the Great Depression is the president's influence on the situation. The two presidents during this time were Herbet Hoover and Franklin D. Roosevelt. Hoover was in office during the collapse of the economy, he didn’t believe in national relief, he believed in self-prevalence and self-help. His beliefs didn’t get the confidence of the people, in 1933, a fourth of working American’s were out of a job, that’s more than fifteen million people unemployed. Many people disliked Hoover, so when they needed to make a home out of paper, glass, tin, or whatever they could find, they named the towns constructed from these items “Hoovervilles”. They were found mostly on the outside of cities. Hoover's idea of self-reliance didn’t get him reelected, he lost to Franklin D. Roosevelt in 1933. Roosevelt brought forward a new strategy to take on the economic problems, it was called the New Deal. The New Deal was a series of actions him and his
In 1933 thousands of banks closed. Millions of Americans lost their jobs. Also, 90,000 businesses went bankrupt. This situation lead to people going homeless. They also went without food and water. Some even sold their valuables for money to be able to afford their basic necessities.
In the 1920s, the United States was in the middle of a revolution in the area of production. With a 64 percent increase in manufacturing; outputting per work hour around 40 percent. The most difficult to grasp was the sale of electricity and the consumption of fuel oil doubled. Americans were spread to their limits. Around 1922 and 1927, the economy grew by at least 7 percent a year.
The 1920s were a time of advancement and prosperity in America. The end of the first world war caused America’s economy to boom resulting in a large increase in industrial output and credit. In addition to this, the invention of the assembly line made the automobile much easier to produce making it possible for most middle class families in the United States to be able to afford one which changed the concept of transportation. Modern advertising caused Americans to desire stuff that they didn’t necessarily need. Working conditions at this time were still poor but there were major improvements from the way it was at the beginning of the century. Due to welfare capitalism workers were much less inclined to strike which also helped the booming
The stock market crashed which led to less money, less production of cars, and less purchases of alcohol. It affected the world we live in greatly. The stock market crashed on October 29, 1929. It was commonly known as “Black Tuesday”. Obtaining enough food for a family was becoming difficult. Many individuals were out of work and unable to find a job that was willing to pay enough to help put food on the table. Vehicles were no longer selling due to the lack of financial funds. Music had nearly come to a halt and the parties of the roaring twenties became quiet. Even the middle class struggled to keep their homes. The middle class eventually started to allow people to board at their homes for a fee. The fee helped to pay for the home and the food the individuals needed. Eventually, the Great Depression came to an end. The Great Depression ended in 1939, nearly ten years after it had begun. Families were able to get back on their feet and begin to live a better
Then shortly after this in 1932 alone 30,000 companies lost their jobs. By 1933 over 12 million people were out of work which is one fourth of workforce. Average income dropped to $1,600 from $2,300 a few years from 1929.(Appleby 535-536) Since people were out of work they often waited in bread lines or soup kitchens to get free food which was handed out by charities. “Peggy Terry, a young girl from Oklahoma City during the Depression, later told an interviewer how each day after school, her mother sent her to the soup kitchen.” (Appleby 536).
The 1920’s followed World War I. During the war, the United States had suffered very few casualties and its economy did not suffer like other nations had. This enabled it to experienced an economic boom: Higher sales, productivity, and wages, increasing demand for new products for consumers, and greater profits for corporations and businesses. This paved the way for economic developments during the 1920’s, such as buying on margin in the stock market and buying on credit, that caused the economy of the United States to enter a bull market. During this time, a new culture that centered around free expression also formed. This led to developments in art and entertainment like the creation of the symbol of the flapper and the popularization of
The 1920s seemed to promise a future of a new and wonderful way of life for America and its citizens . Modern science, evolving cultural norms, industrialization, and even jazz music heralded exciting opportunities and a future that only pointed up toward a better life. However, cracks in the facade started to show, and beginning with the stock market crash of 1929 the wealth of the country, and with it the hopes and expectations of its people, began to slip away. The Great Depression left a quarter of the population unemployed and much of the rest destitute and uncertain of what the future held. Wealth vanished, people took their money out of banks, and plans were put on hold. The most significant way in which the Great Depression affected Americans’ everyday lives was through poverty because it tore relationships apart and damaged the spirit of society while unexpectedly bringing families together in unity.
The Great Depression first started as early as 1928, but did not affect the United States until 1929. The Great Stock Market crash started the event of the Depression here in America, but was not the main cause to why it happened. During the early stages of the depression, President Hoover failed to help the economy and continued with his belief system of giving people the least help they needed, so they can earn themselves a rightful spot with pride, not with government’s help. The Great Depression was a very intense experience for us, even until today, the
When the citizens had bought all that they could buy, there was a decrease in demand. Suddenly, the industries had an excess of goods and no one to sell it to. At this point, the Fordney-McCumber Act began to cripple the economy of America. Other nations introduced high tariffs to boost their revenue and to spite the United States. Sadly for the United States, these high tariffs and low demand were instrumental in the depression that America experienced. When the stock market crashed on October 29th, 1929 or “Black Tuesday”, the united states, along with other nations were in economic turmoil and the widespread prosperity of the 1920s ended abruptly. The depression threatened people's jobs, savings, and even their homes and farms. During the heart of the depression, over one-quarter of the American population was out of work. For many Americans, these were extremely hard times. When Roosevelt was voted into office, he introduced the New Deal. While this plan tried to help the united states out of it’s isolationist rut, the second world war was the final solution. Mobilizing the economy for world war finally cured the depression. Millions of men and women joined the armed forces, and even larger numbers went to work in well-paying defence jobs.
The 1932 presidential election came in the midst of the greatest economic depression experienced by the American people. Never before in the history of the United States has pessimism been so universal. The descent from the height of prosperity of the late 1920s had been rapid, bringing fear and uncertainty. By March 1932 approximately 12 million men and women were unemployed. By March 1933 unemployment had reached 13.5 million. In the hard-hit cities, long lines of hungry people waited before charity soup kitchens for something to eat, and thousands unable to pay rent, huddled in empty lots. Homeless people made shelters out of old packing cartons. More than one million Americans
In the early 1900s, tragedy struck for America when the Great Depression hit. A major economic decline rapidly spread throughout the country. Unemployment soared
After World War 1, America had to demobilize and revert back to a peace time economy. During the 1920’s, it was viewed as a prosperous economy since there was a new labor force due to demobilization, new inventions, and a new infrastructure. Also moral spirits were high since America along with the Allied Powers defeated Germany and the Great War was finally over. However, America began making many economic policies and decisions that will eventually lead up to the Great Depression.
The stock market crash of 1929 sent the nation spiraling into a state of economic paralysis that became known as the Great Depression. As industries shrank and businesses collapsed or cut back, up to 25% of Americans were left unemployed. At the same time, the financial crisis destroyed the life savings of countless Americans (Modern American Poetry). Food, housing and other consumable goods were in short supply for most people (Zinn 282). This widespread state of poverty had serious social repercussions for the country.