preview

The Great Depression

Better Essays
Great Depression is one of the most important periods in modern US history. It began with the global economic crisis in 1929, which affected most of all the United States. The acute phase of the crisis dragged on for three years from 1929 till the beginning of 1933. From 1930 until 1939 the economy of the country could not overcome the crisis and recover. Therefore, this period was called the Great Depression, because of its duration and serious consequences for society.
The war gave rise to prosperity, both real and illusory. It was real, because the warring European powers demanded during that period, that the cost of wheat, cotton, corn, livestock products should rise, and they wanted US to be the only country, that can be a manufacturer. Deficiency of sea transport made inaccessible markets of Australia and Argentina. The US government encouraged farmers to increase production, to expand the acreage that eventually allowed them to get rich. There was a slogan, "The war will be won with food." And this is true, the Allied victory was built on food. And suddenly, by the end of 1920 the agriculture crisis hit. The crisis dragged on and took a dramatic turn. In 1921, Dakota and Nebraska farmers burned their corn, the only thing that they could use was fuel. Those who raise sheep, wool traded on the shirts and socks. Exports of wheat decreased. Experts believe that stagnated, no doubt, temporary: it is necessary to be patient and everything will be restored. Farmers spent,
Get Access