The Impact of the Great Depression on Black Americans Essay

     The Great Depression was a huge economic downfall in North America and involved many other industrialized countries of the world. The Depression began in 1929 and lasted for about ten years. Millions of people lost their jobs along with many businesses going bankrupt. The common misconception of the Great Depression is people think that the stock market crash was the main cause for it. There were many causes for the Depression; unequal distribution of money during the 1920’s was the main cause of the Depression. This unequal distribution happened on many different classes of people. The imbalance of money is what created such an unstable economy. The stock market was doing much worse than people thought

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

The Great Depression was a time of great economic tragedy during the 1930’s. October 24, 1929 was the day of the stock market crash, causing economical shortage everywhere, even globally, and this scared everyone, including the rich. This day was/ is known as “Black Thursday”, where over 2.9 million shares were traded. On “Black Tuesday”, five days later, more than 16 million more shares were traded in another wave of panic. Many investors then lost confidence in their banks and demanded deposits in cash which forced the banks to liquidate loans in order to supplement their on hand cash reserves. By 1933, around 15 million Americans were unemployed and nearly half of the country’s banks had failed. This stopped Americans from purchasing which then led to less production of goods and decreased the amount of needed human labor. In the end, millions of shares ended up worthless, and those investors who had bought stocks with borrowed money were wiped out completely.

Throughout history, people of African descent have had to struggle to find their place in the world; to even be counted as human beings. Comparatively, African American folk have been marginalized and severely oppressed in society, and have had to endure hardship stemming from the days when they were brought to the Americas as slaves. In the light of the Great Depression (1929-41), a time in the United States – and later much of the world – when the value of stocks (partial ownership in a company) dropped sharply in October 1929 and brought mass suffering to all regions of the country, African Americans were

In October 27, 1929, the United States stock market crashed and created a ripple effect of unfortunate events. This economic downfall that the U.S. economy faced was one never experienced by American citizens. The crash immediately stunned Wall Street and wiped out millions of investors. As the years passed the Great Depression only worsened. No one knew how to react to this situation and fear began to over run the country.

President Roosevelt's New Deal program during the 1930's failed to aid impoverished African-American citizens. The New Deal followed a long, historical chronology of American failures in attempts to ensure economic prosperity and racial equality. During the nearly seventy years after the conclusion of the Civil War, the United States faced a series of economic depressions, unmotivated Congress,' and a series of mediocre presidents. With the exception of Teddy Roosevelt, few presidents were able to enact anti-depression mechanisms and minimize unemployment. The America of the 1920's was a country at its lowest economic and social stature facing a terrible depression and increasing

35) As Hoovers administration continued its business backing policies African Americans drifted towards Democrats. This accompanied a rapid urbanization that rose the percentage of African Americans living in cities from forty four percent to fifty percent in just 9 years, from 1930 to 1939. (Trotter, pg. 11) Seventy five percent of African Americans lived in the South, where Southern Democrats had oppressed and opposed African Americans since the end of the Reconstruction in the early 1870’s. (Americans at War) Despite the bad blood between African Americans and Democrats, they drifted in large numbers towards ‘the left’ as Roosevelt and his administration began to administer the “New Deal”. The New Deal was a series of programs and agencies set up to help the United States recover from the Depression. Over 20 million Americans sought assistance from agencies and programs such as Social Service. (Trotter, pg. 8) Many of these were African Americans, but over sixty percent of African Americans received no benefits from the New Deal due to a propensity towards racism in many of the local distributers of aid. (Trotter, pg. 11) According to labor laws supported by Roosevelt and the Democrats, it was not required to pay African Americans minimum wage. Roosevelt also refused to sign an anti-lynching bill into law, allowing lynching to remain legal in many Southern states, due to Roosevelts need of the Southern Democrats to maintain power in the Senate and

They lived in parks, on the streets, and dirt rode’s. Photo 2 shows people going in and out of tents. Also there were covers over cars show that shows that if you still had a car you lived in their as well. People also built shacks out of material scraps they found around the city. If you had a large amount of kids an example of a home would be living inside a piano box.

The development of sharecropping was associated with the endless debt cycles that afflicted the entire South well into the twentieth century. The freedmen endured an economic status likened to peonage, (Bowles, 2011) in addition to having their hopes for political and social equality dashed. The entire South suffered, it was the freedmen who paid the highest price. Ignorant and impoverished, they were easy targets for exploitation by landlords (Bowles, 2011) and merchants alike; moreover, their options were limited by the overt racism in the South, legal restrictions and partiality. Sharecropping resulted from the intense explicit or implicit desire of white Southerners to keep blacks subservient to them. African Americans possessed few skills, and those they did possess related almost exclusively to agricultural production; they owned no property but the clothes on their backs; (Bowles, 2011) Many dreamed of "forty acres and a mule" with which to begin life anew as an integrated part of American society and the proprietor of one's own land. Inside of a year, however, a different reality became obvious to most. By 1868, land confiscation and redistribution was not in the realm of American political possibility. Desperation, familiarity with people and surroundings at the old places coupled with reunion of many lost loved ones, as well as the urgings of

The great depression all started with the stock market crash of 1928. The president at the time was herbert hoover who promised to keep peace. He ended up winning 444 electoral votes to his opposing opponent who only had 87 electoral votes (Notes). After the stock market crashed banks started to fail and had no money to give to people. Nobody had money to pay anyone so unemployment roared all the way to 23% from 3%.

African Americans didn’t know that is was a Great Depression. African Americans have always been poor and knew how to survive. By 1932, approximately half of black Americans were unemployed, blacks always felt unemployed and under paid. Whites attempted to keep blacks out of work by not hiring African Americans. They used racial violence, and discrimination tactics to keep an underprivileged population depressed.

Many people speculate that the stock market crash of 1929 was the main cause of The Great Depression. In fact, The Great Depression was caused by a series of factors, and the effects of the depression were felt for many years after the stock market crash of 1929. By looking at the stock market crash of 1929, bank failures, reduction of purchasing, American economic policy with Europe, and drought conditions, it becomes apparent that The Great Depression was caused by more than just the stock market crash. The effects were detrimental beyond the financial crisis experienced during this time period.

Why was the Great Depression such a hard time for Americans? In 1929 the stock market crashed in America. Which resulted in massive amounts of disarray, and caused Nine Thousand U.S. Banks to Fail. During the Great Depression of the 1930’s, African Americans were hit the hardest by the scarcity of jobs and money. During the Great Depression almost all of the blacks were fired from their jobs and had no way to sustain themselves or their families due to the loss of food and money. After being fired it was nearly impossible for them to get another job, and if they did happen to be hired they received almost no pay. John Hardman wrote, “The Great Depression of the 1930s worsened the already black economic situation of black Americans. African

The economy’s horrific condition led to people losing houses and living in homes made from cardboard, tin, or containers. These makeshift homes would often be seen in one common area called Hoovervilles. Everyone could tell if a person was poor

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.