...On October 29, 1929 the stock market crashed and that triggered the Great Depression. That day was known as Black Tuesday and investors realized their shares were overpriced and they tried to to sell them all at once. Many investors lost all their savings and went bankrupt. The cause for the depression dependence on exports of natural resources, optimism, dependence on credit, high tariffs, and low income. Canada’s economy depended on exporting natural resources. Investor thought there will be nothing bad happening in the future, so they didn’t prepare on backup plans. People were depending more on credit as it was efficient because they didn’t have the cash. Many business began to overproduce which was bad because there wasn’t a high enough...
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...There was an event called “The Great Depression” that occurred in the 1930’s . This even caused so many people in the United States to stop working and banks were all shut down. Now, your probably asking like, “Did everyone went poor?”, “What did they do in order to make money?”, or “How did they pay bills?”. Will lets find out the answers to this questions. Now, we all know that if we need food, we’ll go shopping and get food. But you see, during The Great Depression, they not only shut down the banks but they also shut the stores. When they shut down stores, no one is able to sell or buy anything and all the workers had to quit. So what did they do? If you take a look at Passage 1 by RObert J. Hastings, it gives you an example of what people back then did. Like for example, paragraph three gives you an example of what one of the people did. This paragraph stated “...bought a horse to break gardens, rented an extra lot of garden on the shares, picked peaches…” So this gives you a bit of information on what they did. People would buy stuff from others and others would buy stuff...
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...Ann Q In October 1929, the crash of the U.S. stock market and the result of the Great Depression did not sweep the world in an economical decline right away. The economic events varied greatly among many different countries, including, Europe, Latin America, and Asia. Not only did the U.S. economy suffer, but many other industrial countries also experienced difficulties. For example, one result of the Great Depression was a collapse of world trade. In 1931 German industrial production decreased more than 40 percent. In May 1931, Austria's largest bank collapsed, resulting in many European residents rushing to banks where they had their money deposited. This led to failure of German banks by mid-June. Then, as a result, Germany announced...
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...There were many causes of the great depression. That Great Depression was a long lasting time of economical downturn that followed the bull market boom in the 1920’s. The Great Depression of the 1930s was caused by the stock market crash, overproduction all combined with inequality of income. Overproduction made a huge contribution into the downfall of the economy that lead into the great depression. More products were being made than consumers were consuming Average Americans in the 20s were buying household products such as vacuums and other appliances to “ electrify their homes’ so those companies such as ge started to mass produce and then advantulay, over product became a huge economical issue.. As illustrated in Document N, a farmer...
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...The underlying causes of the depression are: 1) more goods were produced than consumers wanted or could afford. 2) high risk investments and buying stocks on a margin. 3) high tax for imports from foreign countries caused an decrease in trade between America and foreign countries. 2. Compare and contrast the beliefs and actions of President Hoover and President Roosevelt in regard to the desperate times of the depression. Why is FDR ranked among our greatest Presidents and Hoover remains near the bottom? Elaborate. Hoover believed that all individuals can succeed on their own and that government help for people should be minimal. If people got in economic trouble, private charity was the best way to help them. The government should not...
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...GREAT DEPRESSION EFFECTS ON RURAL POVERTY The stock market crash on October 29, 1929, sent the United States into the longest and darkest economic depression in American history. Between 1929 and 1933, all major economic indexes told the same story. Unemployment statistics revealed the impact of the Depression on Americans. This depression financially devastated all Americans which led to writing personal letters to First Lady Eleanor Roosevelt appealing for help. Letters written to Eleanor Roosevelt by poor children affected by the Great Depression with the photographs compiled by the FSA employees depict the grievances of the people affected. Roosevelt was elected as the president with 89 percent of electrical votes, a landslide victory. New president carried new hopes for the depressed poor people. He made numerous innovations during his first hundred days of his tenure. This reforms and new policies gave Americans sense of hope of steps towards revival from this Great depression. With this positive attitude towards new governance and the hope for help, young people started writing letters to the First Lady Eleanor Roosevelt. Possessing the wealth, power and the face she imprinted over the Americans young people thought her convenient to write a letter and express their situation. The letters written by these young people convey a greater amount of truth and the ground reality which they are facing other than the statistics and the figures. The letters depict a unique...
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...Great Depression Document Based Question Industrious workers cried out for help from our government stating that they needed better working conditions, higher pay or relief from the seemingly hopeless situation. However, the government was apathetic towards these cries for help, often ignoring their desperate attempts to relieve their economic struggles. The letters continued to flood in, each one pleading for help about different situations. Unsatisfied with the working conditions at his job in Plaquemine, Louisiana, R. J. wrote to Miss. Perkins describing the horrific situation and callous employers. Using imagery, he stated that “The bell rings at 2 A.M. in the morning when all should really be sleeping at rest. they work in the summer until 9 or 10 A.M. the reason they knock them off from the heat is not because of killing the labor from heat but they are afraid it kills the mule not the slave” (pg 172). The modern day resolution to this situation is that the government created it so if a worker works more than forty hours a week, the laborer will receive time and a half pay. Not wanting to pay the employee so much money, this causes the company to limit the hours they will work, resolving the issue of being overworked....
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...The Great Depression was caused by the brash approach towards the county’s own stock market and wealth. A political cartoon has depicted what seems to be Uncle Sam resting safely in the luxuries of America, clearly not caring about any possible declines or threats to the nation (Doc O). In the cartoon one can tell that the country was blinded by its pride in the economy that they were not able to prepare themselves for any sort of economic decline, therefore worsening any small detail of future decline. Another case of careless spending by an overly prideful nation can be seen again as the nation’s stock prices went up due to insane amounts of competitive bidding. Harry J. Carman and Harold C. Syrett clearly wrote in A History of the American...
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...The great depression was a of significant poverty which had many contributing factor. Some of the significant factors were, Stock market crash of 1929 and people buying goods on credit, unfair wages. This caused very high unemployment in poverty starting in 1931.In 1932 FDR was elected and was president until 1942. During his presidency he put new deal into effect which was designed to create programs that can support and help the world get out the depression. Overall FDR’s response to the Great Depression , such as social security and giving government money to relieve poverty,over all effective and expanded the role of government to make room for these new programs. One of FDR responses to the Great depression was putting money towards public projects and into relieving poverty which helped significantly. According to Document D “An enormous outpouring of federal money for human relief and immense sums for public-works...
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...The great depression forced society and president Franklin D. Roosevelt to make major changes in government organization to relive the lives affected by the great depression. The great depression left millions of American citizens unemployed or underpaid and overworked. Franklin D. Roosevelt's response to the great depression was the new deal and the three R's (relief, reform, and recovery). Following the stock market crash in 1929, unemployment spiked and the great depression began. According to the graph in document one, the number of s of unemployment increased to nearly forty percent by 1938. This shows that FDR's programs started to make a positive impact on the extremely poor people and the huge poverty that will soon start because...
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...APS Social Studies Causes of the Great Depression DBQ Historical Context: The Great Depression in the United States started in 1929 when the stock market crashed. It caused an economic depression. The depression last over ten years and had long-term social, economic, and political effects on American society. It is still one of the greatest defining eras in US History. In general, we know what caused the Great Depression, but these causes are still debated even today. It happened after a period of great prosperity (The 1920s) when American commerce was growing. The issues that surround the causes of the depression are still issues today. Task: Using information from the documents and your knowledge of United States history and government, answer the questions that follow each document in Part A. Using your answers from Part A you will write an essay (Part B) in which you will be able to: • Discuss the following three causes of the Great Depression, o Use of Credit o Over speculation o The Federal Reserve’s Monetary (Money) policy Use the box below to organize your notes and ideas that can be used to convert into an essay. Part A: Short Answer Document #1 Ford Advertisement: 1920 [pic] Duke University Library 1. An average annual wage of all industries in the 1920s was about 1400.00 dollars a year. Many workers averaged (depending on the job) between .50 cents per hour up to 2.00 dollars per hour). How much does...
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...getting laid off from their jobs because the company can’t afford to pay their workers. Imagine trying to take money out of your bank account and they tell you their all out of money. All those issues occurred from the Great Depression. The buying on credit was a long term cause of the Depression. Since the 20’s was a period of great economic boom, not many people took the future into consideration. Many people bought expensive luxury items using money they did not have. Installment buying allowed people to make a monthly, weekly, or yearly payment on an item that they wanted or needed. Buying on credit and installment buying left millions of people in debt. Also, the continuous scamming in the stock market caused a loss of a lot of money. Buying on margin was a problem because people would only pay 10% and borrowing the rest from the bank. In 1928 Herbert Hoover was elected for president, when the Great Depression hit he did nothing about it. He thought it wasn’t the government’s problem and the people had to deal with it themselves. His approach was “rugged individualism” which means just waiting the depression out, he was a proponent...
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...Twenties, much despair would follow by the end of them. The 1920’s saw an increase in consumer spending as well as a large increase in economic growth. The 1920’s was also an era dominated by Republicans. The Republicans took a rather conservative approach to the economy. They forged tight and close relationships between government and big business. President Warren Harding took the White House in 1921, when the United States economy was seeing the time of a depression. Runaway inflation and a high unemployment rate swept the nation. At the time of World War I the United States economy enjoyed prosperity because of the agricultural industry. With the increase of demand came the increase of prices. With the increase of prices came the increase of output used to supply Europe. With the conclusion of the War the American agricultural industry had a massive surplus of farm goods that by any means could not be absorbed into the international market. The agricultural industry took a large spiral downwards. With much of the depression resulting from the failing agriculture industry President Harding signed the Emergency Tariff of 1921 to help relieve some burden the farmers were being troubled with until a better solution could be put in place. President Harding also passed the...
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...The Progressive Era Through The Great Depression Kaishonta Arnold Professor John Swann History 105 February 9, 2013 The Progressive Era was a period of social activism and political reform in the United States. From the Progressive Era through the Great Depression there were many significant turning points within this period. The Women’s Suffrage Movement was one major historical turning point of the Progressive Era. Another turning point in this period was the Stock Market Crash of 1929. Although “women were basically the main players in the Progressive Era reforms, there right to vote were still denied” (Schultz, 2012). Many pushed for the franchise for all women and through their efforts in the Nineteenth Amendment to the constitution provided full women suffrage. There were two groups that pushed and furthered the cause of women’s suffrage. These two groups were formally called “The National American Women Suffrage Association (NAWSA), as well as The National Women’s Party (NWP)” (Schultz, 2012). The National American Women’s Suffrage Associations strategy was basically a way to push for suffrage at the state level, hoping that the federal government would pass the amendment. The National Women’s Party’s goal was of eliminating all discrimination against women. As stated by Brown, “In 1923 The Equal Rights Amendment (ERA), was announced and launched what would be a life-long campaign to win full equality for women,” (2010). ...
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...In 2007, the U.S. economy experienced one of the greatest downturns since the Depression era, and furthered by the collapse on a global scale. The bubble burst on the housing market and the house of cards called the mortgage industry tumbled down, no longer able to sustain charade of success. This caused the collapse of some of the largest financial institutions, once thought to be immortal. This rippled into a massive tightening of the belts of many companies, as they found themselves without lines of credit, lack of business, and the daisy-chain collapse of their support networks. Who paid the final price? Companies cut costs through pay cuts, layoffs, and closings. While this may have saved jobs for many, the feeling of loss and vulnerability permeated corporate American in all ranks. The Great Recession was a rude awakening for those living the American Dream at the turn of the century. The 2000’s were the new 80’s, but for all. People lived off credit, borrowed time with Home Equity Lines of Credit and lived through every cent they made. As people felt corporate American tightening its belt, that belt became a noose around America’s neck. In a 2009 “ABC News/Washington Post poll, 61 percent of Americans said the economy is causing stress in their lives; a third said the stress is "serious." And those who said they've been hurt "a great deal" by the recession reported stress levels more than double those who said they were just "somewhat affected" by the recession...
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