Great Depression DBQ Essay Imagine this. You wake up one morning in the year 1929, in your luxurious, pricey mansion. You then make your way downstairs to eat that nice big breakfast. Then you kiss your family good bye and head off to your fancy job. You come home that evening and suddenly you’re flat broke. Meaning all your money and life’s savings vanished. Unreal right? Well it was real for hundreds of families on October 29, 1929. The day the stock market crashed and when America’s confidence was challenged greatly. Such an event caused many problems in the country. The first problem had been that when banks lost tons of money due to the stock market crash, they also lost the life’s savings of so many hard …show more content…
It aided to the problem America had when people lost their life’s savings because of an irresponsible choice their bank had made. The F.D.I.C insured savings accounts in banks approved by government. If one of those banks fails, the government would promise depositors that they would receive their money. Many other solutions similar to the F.D.I.C were created which was shown in document 6. But, some of the ones that solved the issue of unemployment were Federal Emergency Relief Administration (F.E.R.A), Civilian Conservation Corps (C.C.C), Works Progress Administration (W.P.A), Rural Electrification Administration (R.E.A), and the Tennessee Valley Authority (T.V.A). They all had different tactics at going towards the solution of the unemployment epidemic. For example, the Works Progress Administration would put the jobless to work by doing many things like building airports, playgrounds, parks, schools, and hospitals and also becoming photographers, artists, actors, writers, and composers. Another solution to one of the problems was “kitchens” being opened up by various individuals or groups. Many starving families would send out a member to bring the free food home from these kitchens. They would wait outside of the building in very long lines just to get a simple small meal, which was shown, in document 4. Although the problems weren’t completely gone, there were certainly numerous attempts at solving or reducing
Based on this photograph, the Great Depression had severe effects on many Americans. In this picture, many men are depicted standing, waiting in a very long line outside a restaurant. The line is crowded and very lengthy, and it probably took a very long time for the men to get to the restaurant. Document 4 Based on this document, the Bonus Marchers went to Washington because “they needed their money now.” These men, mostly ex-soldiers, were starving and desolate, and they simply needed money to survive.
His goal was to make sure the Americans as a whole grow and lift the United States out of the Great Depression. Some of the political altered were The Agricultural Adjustment Act (AAA), The Civilian Conservation Corps (CCC), The Federal Emergency Relief Act (FERA), The National Recovery Act (NRA), The Federal Deposit Insurance Corporation, and Securities and Exchange Commission (FDIC). The AAA was created to cut farmers’ output. The CCC was established to provide
“At one point in the Depression, the cupboard was literally bearing of money.” What effect did the Great Depression have on the people who lived through it? The jobs they had, how they had to use their money, and the help they had to get.
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.
When the stock market crashed in October 1929, the nation plummeted into a major depression. An economic catastrophe of major proportions had been building for years. The worldwide demand for
The Great Depression had many aspects that made it one of the harshest times for people around the world. It began on October 29, 1929. Jobs were hard to find, the economy was in terrible conditions, and lots of people were homeless and dying of diseases. Some of the key players in ending the Great Depression were Franklin D Roosevelt and Mary McLeod Bethune.
His consideration for the future is reflected in his programs that made up the New Deal. FDR created these programs in order to further relieve stress from low income families and provide employment to others; his vision for the New Deal was long term. Programs such as National Youth Administration (NYA) gave families money so that their children could afford to go to school and get an education without worrying about the cost. An education provides long term benefits to future generations because it creates a more productive and wholesome society. Document 1 describes an American worker who benefited from the New Deal, Helen Farmer, who worked in the NYA as a teenager stating that it helped her own mother out when it came to money. This document reflects how FDR’s NYA provided grants to high school students in exchange for work and that allowed adolescents to continue studying without the employment rate dropping. Another program that guaranteed the well being of America’s future was the Works Progress Administration (WPA) which provided nourishment to underprivileged children who couldn’t afford it. The WPA provided employment to the unemployed and new construction to communities around the United States. Daily service of warm food was also prepared by women workers that made it possible for millions of children to have a meal, while providing women with jobs, which
During the Great Depression, thirteen million americans lost their jobs, one million families lost their farms, 273,000 families were evicted from their homes, and four thousand banks closed (“The Great Depression Facts”). Families went through many hardships. On October 29, 1929, the stock market crashed, sending a panic through Wall Street. Investors were starting to withdraw their shares, sending more shock through the public, ultimately sending a wave of people to rush to nearby banks. With the abundant amount of withdrawals, banks now started to lose the money that they had (“The Great Depression”). Families lost their life savings, leaving them devastated and searching for help (Bryson). The Great Depression brought a downfall to the
The Great Depression time period took place between the years 1929 and 1939 and it affected millions of Americans through all its time. Several people like Herbert Hoover, Franklin Roosevelt, and Dorothea Lange served an impact during this time. The stock crash of this time period left a decade of consequences for the lives of many Americans. The economic plumet of the 1930’s can also be related to our economic standings today.
(Context)“...by October 1929, US stock prices began falling, and investors quickly sold off their stocks. The false inflation of these stocks had made the investments worthless, and many people’s life savings suddenly disappeared. The sudden wave of selling caused great panic throughout the United States. With everyone selling their stocks, stock prices fell dramatically. Borrowers could not pay back their lenders, and banks could not even pay out cash to the people who owned it”(Gale In Context Online Collection, “Global Effects of the.”).
Americans woke up one fateful morning, and thought that it was, in fact, the end of the world. Just the night before, they had owned large amounts of money, all of which had dissipated by the time morning came. By spring of 1933, circumstances had not improved; losses exceeded over seventy Billions of dollars were lost, The aftermath of Black Tuesday caused America and the rest of the industrialized nation to spiral into what is now known as The Great Depression. While the Stock Market Crash of 1929 was not the sole incident that caused the Great Depression, it did kick the collapse of the economy into higher gear. In addition to monetary losses, there were business-related losses.
On October 29, 1929, the stock market crashed. Not only did millions of investors lose their money but banks lost all of the money they had invested that their customers had given to them. To make the problem worse is that the people who had remaining money in the banks tried
Bank Failures (Over 9,000 banks in the US and over 100,000 around the world failed as deposits were uninsured and people lost their savings. The surviving banks unsure of the economic situation and concerned for their own survival refused to
The America in the 1930s was drastically different from the luxurious 1920s. The stock market had crashed to an all time low, unemployment was the highest the country had ever seen, and all American citizens were affected by it in some way or another. Franklin Delano Roosevelt’s New Deal was effective in addressing the issues of The Great Depression in the sense that it provided immediate relief to US citizens by lowering unemployment, increasing trust in the banks, getting Americans out of debt, and preventing future economic crisis from taking place through reform. Despite these efforts The New Deal failed to end the depression. In order for America to get out of this economic
The Stock Market Crash of 1929 was certainly not the only cause of the Great Depression, but it was significant is the downturn in produced goods and employment. The economic repercussions of the crash were felt through the loss of job, businesses, and an estimated 40 billion dollars, but most importantly people’s personal sense of security had been lost. Many Americans lost their homes, and had to move in with relatives in order to maintain any normalcy. While the stock market did begin to rebound late in the year, it was