How Far Was The New Deal A Success By 1914

How Far Was The New Deal A Success By 1914?

In this piece of coursework I have been asked if the new deal was a

success by 1941. I will be explaining to you about the new deal, Wall

Street crash, the depression and many more things. The title for this

piece of course work is How far was the new Deal a success by 1914?

The new deal was necessary because in October 1929 the stock market in

America had fallen deeply. This caused the American economy to

collapse. The Wall Street crash occurred because share dealers thought

that the stock market could not rise forever. So some of the rich

stock holders sold there shares thinking that the prices were at its

highest. Many other stock holders were worried and more and more

people started to sell. Prices dropped very quickly and panic had

begun. Thousands of stock holders sold their shares. The market

dropped like a stone. The US stock market collapsed completely. No one

wanted the shares. The shares were sold for very low prices. Most of

the people had taken out loans to buy the shares. The people thought

that if they take out a loan and buy the shares they could make enough

money to pay the loan back and have enough for profit. Hundreds of

thousands of Americans were in problems. They owed money to the bank.

They sold all there belongings and possessions. This caused the

depression. The depression lasted for 10 years. It was from 1929-1939.

Between 1929 and 1932 over 5,000 banks went bust. By 1932 unemployment

had risen to at least 12 million due to business going bankrupt.

Breadlines were very popular all over America. Farmers suffered

greatly during the depression. Many families who had farmed there land

for generations were forced to sell. Millions of farmers moved to the

city to find work. This was difficult because all the business went

bust so the amount of unemployment had risen. The Wall Street crash

led to the great depression. The impact of the depression was very