Essay on The Great Depression - 1003 Words

1929-1942 America at its lowest. How did such a catastrophe arise? Who did it affect? What was the outcome of this horrid era? The Great Depression is known for its downfalls, such as agricultural scarcity, poor banking, and the ignorance of man. Contrary to popular belief, its cause is not the crash of the stock market, but rather a number of interrelated factors. This downfall left people on the streets with harsh working conditions, and nature was not on America’s side especially with the Dust Bowl era transpiring. Wages era low and people had to fight for survival in whatever way possible, whether it be through labor unions or scavenging for jobs. The Great Depression ushered in a dark time for people; in which Americans had to†¦show more content†¦Banks Gone Under Banks not only lost their purpose, they destroyed our people as well. David Kennedy once said â€Å"By 1929, commercial bankers were in the unusual position of loaning more money for stock market and r eal estate investments than for commercial ventures.† Kennedy, David. The American People in the Great Depression: Freedom from Fear. 1999. 26 May. 2014 books.google.com/books?isbn=0199840067. This greatly affected the nation because banks were giving away money to a cause that did not profit anyone, both banks and citizens lost money. This problem forced many Americans into bankruptcy because their money was not secure. If banks would have invested more of their time in commercial ventures, money would have been less of an anxiety because banks would have had an abundant amount of money and would have kept everything secure. The majority of America’s banks are small individual institutions that had to rely on their own resources. This resumed as being unbeneficial for people because these banks were not stable, in terms of keeping Americans’ money cycling properly through banking systems. When there was a panic, depositors rushed to take their money out of the b anks. The banks sank if they did not have enough money on reserve. This eventually left banks in the dust. The bank catastrophe spread across the North. In 1930, a wave of bank failures began in Ohio, then spread to Indiana, Illinois, Missouri, Arkansas,Show MoreRelatedThe Depression Of The Great Depression1223 Words   |  5 Pagesfar-reaching consequences as the Great Depression. This experience was the most extended and severe depression of the Western world. It was an economic downturn that began in 1929 and lasted until 1939. A large amount of America’s labor force lost their jobs and suffered during this crisis. During the nation’s financial disaster, Franklin Delano Roosevelt became president and made extensive changes to America’s political structure. The effects of the Great Depression had lasting consequences that areRead MoreThe Depression Of The Great Depression1232 Words   |  5 Pagespeople think that the stock crash was to blame for the Great D epression but that is not correct. Both the crash and depression were the result of problems with the economy that were still underneath society s minds. The depression affected people in a series of ways: poverty is spreading causing farm distress, unemployment, health, family stresses and unfortunately, discrimination increases. America tended to blame Hoover for the depression and all the problems. When the 1932 election came peopleRead MoreThe Great Depression Essay1390 Words   |  6 PagesIntroduction: The world had faced two main economic problems. The first one was the Great Depression in the early of 20th Century. The second was the recent international financial crisis in 2008. The United States and Europe suffered severely for a long time from the great depression. The great depression was a great step and changed completely the economic policy making and the economic thoughts. It was not only an economic situation bit it was also miserable making, made people more attentionRead MoreThe Depression Of The Great Depression2071 Words   |  9 PagesPaul Von Hindenburg appointed Adolf Hitler Chancellor on the 30th January 1933. The Depression did play a vital role in this, however other factors such as the Nazis propaganda, the resentment of the Weimar republic and the political situation of 1932-1933 also contributed to his success. Before the Great Depression, the Nazis gained 12 seats and 2.6% of the vote in the May election of 1928. Despite this, by July 1932, Hitler gained 230 seats and 37.3% of the vote in the Reichstag. This is a dramaticRead MoreThe Great Depression1292 Words   |  6 PagesBefore the crash Before the start of the great depression the United States was a country of great economic wealth, with new technology being invented and a boom in industry. Due to a boom in America’s Industry because of World War One the economy was at an all-time high with a tremendous amount of prosperity. Following the end of world war one the industrial might that America had was being used for peaceful, domestic purposes instead of being used for violence and war. New technologies like carsRead MoreThe Great Depression1731 Words   |  7 PagesThe 1920’s was a decade of discovery for America. As mentioned in â€Å"who was roaring in the twenties? —Origins of the great depression,† by Robert S. McElvaine America suffered with the great depression due to several factors but it managed to stay prosperous at the end. In â€Å"America society and culture in the 1920’s,† by David A. Shannon there was much more to the great depression. It was a time of prosperity an economic change. Women and men were discovering who they were and their value to societyRead MoreThe Great Depression1551 Words   |  6 PagesThe G reat Depression was one of the most devastating events recorded in history. The nation as a whole plummeted in one economic downfall. Few individuals escaped the effects of the depression. The hardship of unemployment and the loss of homes and farms were a large portion of the pain caused by the economic crisis. Through all of these sufferings, women had a large impact on society. Women faced heavy discrimination and social criticism during the Depression Even though through research it is provenRead MoreThe Great Depression1186 Words   |  5 Pagesfriends is the true definition of of what the Great Depression really was. It was a time that most people want to never remember or ever happen again. You would think the United States would have learned from their mistakes but it seems we are going down the same road once again without even taking a step back and realizing it. When people talk about the Great Depression not a single person will have anything good to say about it. It ca used families a great deal of pain that they will never forget. WithRead MoreThe Great Depression1368 Words   |  6 PagesAfter WW1 the Great Depression had a very late impact on the major film companies in France, when it did, it unfortunately caused several film studios to go bankrupt, then in the late 1920’s to 1930’s many small film companies and groups emerged giving birth to the tendency called poetic realism. Because the large companies who made films with a focus on making money were gone the filmmakers and artists were able to concern themselves with the art of film, they often took poetic innovations thatRead MoreThe Great Depression1133 Words   |  5 Pagesâ€Å"The only thing we have to fear is fear itself,† is a famous quote once said during the Great Depression by Franklin D. Roosevelt. After one world war, great financial fallout, and another world war to follow, the twentieth century was already shaping out to be a handful. When the Great D epression was coming to an end and the economy was trying to turn around, jobs started opening up and a new wave of immigrants came into New York, the Puerto Ricans. For some the American dream was to come to