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The great depression free essay history
Introduction about great depression
Effects of stock market crash
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The Great Depression was one of the worst times in US history. The stock market had crashed and many people had lost their jobs and could not redeem them. Students could not find jobs that would hire them, many adults lost their jobs but the 2 presidents during this time tried to help with this downfall.To start out with, many people lost all they had including jobs, homes, money, and much more. In the article “Firing, Not Hiring”, The stock market crash lead to millions of people without a job and according to Gordon Parks, “ I was without a job” (Hayes). This one boy was saying he had no job. But to add to that he said that millions of other Americans had no jobs either. Many people lost their jobs to this downfall. Also in the article “Digging In” it says, The closing of Old West Side Mine meant the borderline of a steady job for eight years” (Hastings). …show more content…
This is how so many people lost what they had because of the money downfall lead from the stock market crashing.Secondly, many people had very, very little money. Most people had to give up things because they could not afford them and some had to cut back and many things to keep their homes and so they could have food and clothing. In the article, “Firing not Hiring”, 16 year old Gordon Parks knew that due to a money downfall in the economy in which it affected his family he would not be able to stay at school and he said, “it was impossible to stay on” (Hayes). Gordon Parks was a 16 year old student that had to give up school because he could not find a job and his family
In the Roaring Twenties, people started buying household materials and stocks that they could not pay for in credit. Farmers, textile workers, and miners all got low wages. In 1929, the stock market crashed. All of these events started the Great Depression. During the beginning of the Great Depression, 9000 banks were closed, ending nine million savings accounts. This lead to the closing of eighty-six thousand businesses, a European depression, an overproduction of food, and a lowering of prices. It also led to more people going hungry, more homeless people, and much lower job wages. There was a 28% increase in the amount of homeless people from 1929 to 1933. And in the midst of the beginning of the Great Depression, President Hoover did nothing to improve the condition of the nation. In 1932, people decided that America needed a change. For the first time in twelve years, they elected a democratic president, President Franklin D. Roosevelt. Immediately he began to work on fixing the American economy. He closed all banks and began a series of laws called the New Laws. L...
The great depression was a very sad and hard time. This was a time where people had little money, no available jobs and just had a hard time with everything. Many people had nd any way to make money whether it was cutting kid’s hair in neighborhood, picking fruit, selling iron cords house to house or even painting a house for 5 dollars. Even though this was a very hard time some people still had hope that things would get better. This was a really bad time until Franklin Roosevelt who was for the government supporting the Americans and not the other way around became president.
The Great Depression often seems very distant to people of the 21st century. This article is a good reminder of potential problems that may reoccur. The article showed in a very literal way the idea that a depression can bring a growing country to its knees. The overall ramifications of the event were never discussed in detail, but the historical significance is that people's lives were put on hold while they tried to struggle through an extremely difficult time.
The unemployed and underemployed had been left to find work themselves
Poor working conditions in mines in The Gilded Age was as normal to the people then as a 40 hour workweek is to us now. Looking back at all of the horrific and terrible accidents and such that happened then seems unimaginable to us, but to them, it was just another day at work. Children worked in the mines to support their families, often in company towns where inhaling soot all day and contracting black lung was really your only option for a job.
When a group of people must adapt to a lifestyle distinct from the agricultural lifestyle one would not know what to expect. Like a nation that is just starting, it would take time to construct and enhance laws; it’s a trial and error process. These businesses were starting out and there were no regulations as to how to run them. Unquestionably, there were no laws imposed to aid the labor conditions of these employees like we know today. The testimony and interview proved that the 1800’s took advantage of the work of children, often depriving them of food. It was obvious most children stuck around due to the urgency of money, therefore I am sure employees threatened to replace them seeing how the money was needed for families. For those who worked in factories with heavy, dangerous machinery, they were prone to accidents or even death. According to the sub-commissioner, the young girls picked the coal “with the regular pick used by men” . It is typically easier for a grown man to lift a regular pick than it is for a young girl because of the physical development and obvious age difference. Still there weren’t any regulations to protect children against the harms of labor and their wages were unreasonably
The Great Depression was the worst period in the history of America’s economy. There is no way to overstate how tough this time was for the average worker and there was a feeling of desperation that hung over the entire country. Current political wisdom leading up to the Great Depression had been that the federal government does not get involved in business or the economy under any circumstances. Three Presidents in a row; Warren G. Harding, Calvin Coolidge, and Herbert Hoover, all were cut from the same cloth of enacting pro-business policies to generate a powerful economy. Because the economy was doing so well during the “Roaring 20s”, there wasn’t much of a dispute
The Varied Impact of the Great Depression on American People The experiences of Americans during the Great Depression varied greatly. For most, the Great Depression was a time of hardships and trials. The way that people were tried were different though, some languished in a collapsed economy, while others had to struggle to make a living in the remote regions of the country. The years berween 1929 and 1933 were trying years for people throughout the world.
The Great Depression was one of the most important historical events that has happened within the last century that impacted every Americans life one way or another. There were many factors that could be an explanation of why The Great Depression happened, but there is no one definitive list of the reasons of what caused The Great Depression. It was a mixture of events in the United States and outside of it that probably led to this period of time to happen. The main reason that everyone could agree on was the event of the Wall Street Crash of 1929. Because of The Crash, it made people go on a bank run which made thousands of banks to close because they simply did not have all the money for all the people wanting to withdraw their savings. Because everyone was trying to take their savings out, most people were turned down by the bank and essentially lost of their savings in the bank. The banks were failing and because they had no more money left, this stopped the banks from having available credit for people to use which made matters even worse for the people. This leads people to poverty and were left with nothing. Because people were poor and were scared of spending their money now, it made people stop buying extra things that weren't essential to live. This was the cause of the unemployment rates during this time period because if no one was buying anything, then there was no reason to keep extra workers for things people are not buying.
The Great Depression was felt worldwide, some countries more than others. During this time many Americans had to live in poor conditions. In the United states, 25 percent of the workers and 37 percent of all nonfarm workers lost their job(Smiley 1). Unemployment rates had increased to a 24.9 percent during 1933(Shmoop 1). Unable to pay mortgages, many families lost their homes. The cause of this was the Stock Market crash in 1929. Many investors of the stock market panicked and sold all their stocks. The results of this include frightened Americans withdrawing all their saving causing and hoarding it in their homes many banks to shut down and less money to circulate in the economy. Although the economy had taken a dramatic blow, there was hope. A new program was administered by the government to help people suffering from the depression. The Works Progress Administration (WPA) program helped improve lives of Americans affected by the Great Depression.
During the Great Depression, life was not as easy as it once was. Many people were out of jobs and prices on things went down, therefore making it harder for people to make money. In a poem written by Donald Justice it says, “We gathered on porches; the moon rose; we were poor.” Money was a huge struggle during this time, causing a lot of
The loss of jobs affected their personal finances as well (Pettinger). When times got tough, businesses started to cut wages and went even further laying off some people (“Economic Causes and Impacts”). As the damage has caused harm to many citizens, Franklin Delano Roosevelt created the New Deal to help the many families in
] This catastrophic event is caused by the accumulation of a large scale of speculation by not only investors but also banks and institutions in the stock market. Though the unemployment rate was climbing during the 1920s and economy was not looking good, people on Wall Street were not affected by the depressing news. The optimism spread from Wall Street to small investors and they were investing with the money they don’t have, which is investing on margin as high as 90%. When the speculative bubble burst, people lost everything including houses and pensions. The main reason ...
In the Great depression it was extremely difficult to keep a stable job that would provide enough money to keep their families off the streets, so they had to find other opportunities to make money
The Great Depression was the deepest and longest-lasting economic downfall in the history of the United States. No event has yet to rival The Great Depression to the present day, although we have had recessions in the past, and some economic panics, fears. Thankfully, the United States of America has had its share of experiences from the foundation of this country and throughout its growth, many economic crises have occurred. In the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors ("The Great Depression."). In turn, from this single tragic event, numerous amounts of chain reactions occurred.