Banks Great Depression

The Great Depression was the worst period of economic decline in U.S. history. It began on October 29th, 1929, and was officially declared over, in the year 1939, once the second World War was commenced. There were many factors that both influenced, and made the Great Depression even worse. A few examples of this are: During this time period, many Americans had money invested in the stock market, and once they saw that somebody else began to sell their stocks, they sold their own. On October 29th, people began to sell their stocks at an extremely rapid rate. Due to the rapid rate of stocks being sold, people lost countless amounts of money, and eventually ran to the bank to take out whatever they had in there. However, these banks were

The Great Depression of the 1930’s was caused by many problems. They include overproduction, monetary policy, war debt, tariffs, the stock market crash, and unequal distribution of wealth. These each play a specific and intricate role in bringing the U.S economy to its knees.

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.

The Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other interventions can save capitalism from itself. The Great Depression had important consequences and was a devastating event in America, however many good policies and programs became available as a result of the great depression, some of which exist even today.

The Great Depression was an economic downturn in America that lasted from 1929 until about 1939, making it the longest lasting depression ever experienced by the industrialized world. The stock market crash caused a chain reaction that involved problems such as unemployment, deflation, an increase in debt, and general poverty for lower class citizens. Attempts at escaping the depression weren’t altogether successful. In fact, most of the efforts resulted in high consumer debt as well as over optimistic loans given to the public by banks and business investors. The Depression caused severe political changes in the US as well as its obvious economic failures. After three years of the depression, Herbert Hoover lost the presidential election

In conclusion, the Great Depression was a downside of America’s history. But, in the dark times, one of our nation’s best presidents came into light. Franklin D. Roosevelt once said “the only thing we have to fear is fear itself”. This meant in those times that Americans were doing more harm than good. When they withdrew their stocks and money from the banks, they were causing more damage to the economy. With shutting down the banks and getting congress together, they were able to solve the dilemmas of the Great Depression through actions taken by federal and state

The Great Depression affected everyone and everything in America. It affected families, friends, businesses, jobs, cities, states, the entire country! But everyone, no matter whether they were a man, a woman, or an african american, was affected in different ways, some ways worst than others. Everyone who lived through the Great Depression had a different experience for themselves. The women had a tougher time surviving than the men. The white men got jobs faster than the african americans. The african americans were the first fired and the last hired.

The great depression was one of the most economical disasters in the history of the United States. There were many causes of the great depression, including the stock market crash, dust storms, bank failures, over production and America’s policy with Europe. “While not a direct cause of the Great Depression, the drought that occurred in the Mississippi Valley in 1930 was of such proportions that many could not even pay their taxes or other debts and had to sell their farms for no profit to themselves. The area was nicknamed ‘The Dust Bowl’.” (https:// www.thoughtco.com).

The Great Depression made many effects on American life. Some of the bigger effects that it had was on the NAACP, the Scottsboro Case, and Mexican Americans and Women in the workplace. The NAACP was experiencing important changes as they began to work diligently to win a positions for blacks in the growing

The Great Depression. The worst financial crisis to ever hit America. Unemployment rates of over 25%. A 50% decrease in national income. Billions of dollars lost in a single day. (Trotter, pg.8) The Depression affected everyone in America. Young and old, rich and poor, black and white, none were spared. However, for America’s 12 million African Americans (Encyclopedia of Race and Racism) the Depression didn’t just start in 1929.(Africa to America: From the Middle Passage Through the 1930s) African Americans were a subjugated minority. Racism wasn’t only present in America, it was accepted by many. In the South, Democrats fought to keep African Americans under harsh segregation and oppressive laws. (Trotter, pg. 9) Efforts to relieve

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

To begin, it’s important to understand what the banks were like before the crash. Banks were closing during the 1920s but not a devastating rate. “In the 1920s, almost 600 banks failed every year” (“Banking 1929-1941” ). People didn’t have much to blame for these banks failing so they just blamed it by saying that it was just local failures. What a lot of people missed where examples of the weak state of the banking system. The showing of public confidence towards the banks was at an all time high and everybody trusted the banks. A lot of banks were also being made to make up for these fails. This shows the banks before the crash that showed very little of the Depression but a lot of people missed it.

     In conclusion, the Great Depression can’t be attributed to just one cause. However, among overproduction; uneven distribution of wealth; protective tariffs; and the struggling of America’s leading industries, the largest contributor to causing the depression, in my opinion, was the unequal distribution of income. I believe this because if congress attempted to redistribute money to the consumers, people would have been able to purchase

The Great Depression was a difficult time for all the American people. It was a time of unemployment, falling wages, and hope for recovery (“Chapter 27”). Some of the causes of the Great Depression were government policies, economic factors, and the gold standard (“Chapter 27”). Other reasons included the fall of the stock market, overseas investments, and the investments in Florida real estate (Farless). The president at the time of this difficult time was President Herbert Hoover. When the Great Depression started, Herbert Hoover took matters into his own hands. President Herbert Hoover came up with multiple recovery attempts.