The Great Depression During World War I

1943 Words8 Pages
The 1920’s in American history, characterized by its social, artistic and cultural vitality, and is known as the roaring twenties. The U.S. economy was the largest industrial in the world, thus it provided significant help to European nations that experienced debt after World War I. Throughout this prosperous era, many rich Americans made large profits from businesses that they owned. A majority of Americans started to spend more money than they earned which would inevitably lead to major problems in the future. On October 29, 1929, which is known as Black Tuesday, the stock market crashed. The Great Depression began and proved to be a worldwide phenomenon. Domestically as well as internationally, the dramatic effects of the depression worked as a domino effect as all banks and other businesses fell almost instantaneously. Through the use of these two documents which are being used from Shi and Mayer, For the Record; “Two Views of the Great Depression”, and “Letters to the Roosevelt’s this paper will address and assess the effects of the depression from eyes of the everyday American who experienced this depression first hand.

Throughout the 1800’s the nation was a rural, agrarian society, isolated from the rest of the world since the days of independence.[1] Industrialization was never a major concern at this time. During the next century the way people started to think changed drastically. After World War I the economy around the world plummeted. Immediately
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