Dbq Essay On The Great Depression

1807 Words4 Pages

The Great Depression was the biggest and longest lasting economic crisis in U.S history. The Great depression hit the united states on October 29, 1929 When the stock market crashed. During 1929, everyone was putting in mass amounts of their income into the stock market. For every ten dollars made, Four dollars was invested into the stock market, thats forty percent of the individual's income (American Experience). during 1929 the stock market was the best way to make money, most of american population invested in the stock market, and back then the government assured people it was the best time to buy houses since the stock market was booming. Many people bought houses, but then stock market crashed in 1929, and it happened overnight, and it didn't end there either. After it crashed it continued to decrease due to investors still attempting to trade, causing the stock market to go further into a depression. After the crash, wall street went into a panic and continued to trade more, wiping out 13 million clients (A&E networks). Some people were able to withdraw their money from the stock market before things got too bad, but the majority of american population lost their money and went bankrupt. Many people blamed president hoover for the depression because he refused to help and believed the government should not be responsible for the stock market crash. Since the majority of the population went bankrupt, they were evicted of their homes due to no money able to pay bills. People came home from work to find their houses locked and their belongings outside, they were forced to live on the streets and live in tent camps. Because of president hoover's wide unpopularity, people began calling homeless tent camps “Hoovervilles” and an...

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...k in full production. This expanding industrial production reduced the unemployment rate to below its pre-Depression level, finally and officially ending the Great depression.
The Great Depression and the New Deals forever changed the relationship not only between Americans and their government, but as well as many other countries that suffered from the depression. Government involvement and responsibility in taking care for the poor and regulating the economy became expected by the citizens.
Its possible that the Great depression could happen again, but very unlikely now that there are regulations on the stock market to assure we wouldn't suffer like in 1929. In 1929 there were abuses in putting money into the stock market and caused such a large crisis, now people are much more cautious with the stock market than before.

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