The Great Depression Essay

1517 words - 6 pages

America and indeed the world were on a high as the 1920's started coming to a close. The Republican Presidents who had served from the end of the First World War, Warren Harding and Calvin Coolidge, had an easy time getting the Presidency due to the publics lack of trust in the Democrats. The Republicans position was only strengthened as the economy continued to improve. The seemingly only hope the Democrats had of gaining power and the Presidency was a disaster. And a disaster they got, first obviously noticed with the Wall Street Crash in 1929. Both parties handled matters differently, though they Democrats were more prepared to try ways to ease the hardships. Had the great depression not occurred some important changes might not have come about? There would be no social security, no taxation, quite likely higher unemployment and therefore lower living standards and a larger gap between the rich and poor, and the private sector would have a much greater effect on the running of the country.

As the prosperous twenties grew to a close, none expected the joy and fun to end. None would have predicted the collapse of the Stock Market on "˜Black Thursday', the 24th October 1929. The good times had come to an end and the American people were in for the worst depression ever in the history of the western world. The two major political parties, the Republicans and the Democrats, both held power a some stage during this time and approached the economical and social ramifications of this decade in different ways. The Republican representative at the time was Herbert Hoover and was more the victim of bad timing then anything else as he was elected just months before the Stock Market Crash. Franklin Delano Roosevelt was the Democratic President and capitalized on Hoovers bad luck and help his nation to prosper once again on the way to becoming the longest serving President in American history.

The first major happening, and the one that is often (wrongly) thought to be the cause of the Great Depression was the Stock Market Crash. Although it was considered an "˜out of the blue' happening, the fact was that the economy had been slowing down for months before on the 24th October, 1929, Black Thursday, Wall Street Collapsed. The market recovered slightly on Friday before diving in oblivion on Black Monday and Tuesday of the next week.

At the time of the collapse the Republican Herbert Hoover was President. As was Republican policy, he did not interfere, instead thinking that the crisis would pass or the private sector would fix it. It was not the place of the federal government to be meddling with the economy any more the it had to. The Democrats were not in power at the time of the crash but when they did come into power they the New Deal, an initiative of Roosevelt, included money to boost the economy, he also closed all banks...

Find Another Essay On The Great Depression

The Great Depression Essay

1296 words - 5 pages The Causes of the Great Depression The cause of the Great Depression has been debated for many years. The actual cause of the Great Depression is a multitude of factors, there was no single cause. Several reasons for the Great Depression were supply and demand, the banking system, wages of workers, success and failure of business, government policy, excessive speculation in the stock market and the unequal distribution of wealth...

The Great Depression( Canada) Essay

1013 words - 4 pages The great depression, a time that was hard for almost all Canadian citizens. A time where Canadians looked towards there government for some form of decisive action that would end the great depression but unfortunately, Canadians only received relief efforts and attempts at protecting our economy both of which where horrible inadequate. As a result, Canadians during this time faced a series of hardships which worsened the human...

The Great Depression( Canada)

1013 words - 4 pages The great depression, a time that was hard for almost all Canadian citizens. A time where Canadians looked towards there government for some form of decisive action that would end the great depression but unfortunately, Canadians only received relief efforts and attempts at protecting our economy both of which where horrible inadequate. As a result, Canadians during this time faced a series of hardships which worsened the human...

The Great Depression

1203 words - 5 pages      The Great Depression was a period, which seemed to go out of control. The crashing of the stock markets left most Canadians unemployed and in debt, prairie farmers suffered immensely with the inability to produce valuable crops, and the Canadian Government and World War II became influential factors in the ending of the Great Depression. The 1920’s meant prosperity for Canada. Canadians living in the 1920’s were...

The great depression.

1611 words - 6 pages THE GREAT DEPRESSION"What attempts were made to try and solve the problem of the Great Depression in Australia and why did they have so little success?"The Great Depression of the 1930s is a time that will always be remembered around the world as the worst economic slump ever to affect the US, and consequently the rest...

The Great Depression

2209 words - 9 pages “No one can possibly have lived through the Great Depression without being scarred by it. No amount of experience since the depression can convince someone who has lived through it that the world is safe economically.” Isaac Asimov's is defined simply as terror and pain for all humanity that had to endure through the depression...

The Great Depression

2235 words - 9 pages The Great Depression was a time of sadness and poverty for many. It became an unforgettable historical time in American history. The author of the book The Great Depression, Pierre Berton gives a clear view of what happened from 1929-1941. He basically outlines the Depression event by event, explaining what happened where and who was involved. Although many books can tell stories of the depression, I think the author of this book did a good job...

The Great Depression

1578 words - 6 pages The Great � PAGE \* MERGEFORMAT �2� The Great DepressionMany factors played a role in causing the Great Depression. A major cause of the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's. Another factor was the extensive stock market speculation by investors that took place during the latter part of that same decade which led to the panic on...

The Great Depression

1115 words - 4 pages     In 1929, A Yale University Economist Irving Fisher stated. " The nation is marching along a permanently high plateau of prosperity".(5) 5 days later the stock market crashed and the worst economic downturn in American history called the "Great Depression" began. The Depression started in 1929 and would last for a decade until we entered War World II. The Great Depression affected every part of economy and no job was...

The Great Depression - 1913 words

1913 words - 8 pages A Good Grade Essay on a Good Topic!!! Very Interesting.The Great DepressionAll these changes affects the society in different ways .The Great Depression caused many people to destruct businesses and led the government to regulate the businesses and economic affairs. All this increased regulation led to the widespread belief...

The Great Depression - 1030 words

1030 words - 4 pages The Great Depression The great depression hit the nation quite hard with an un-comparable feeling of instability and weakness. The United States and other nations including Europe and Great Britain were quickly affected. The depression, caused by the fall of the stock market in 1929, caused many individuals to panic and the depression was everywhere by 1932. Many people were affected by the depression. ...

Similar Essays

The Great Depression Essay

1279 words - 5 pages Many adolescents, In the Great Depression, received the full affects and suffered. Some were left hungry, impoverished, and hopeless, how are adolescents today compared? The 30’s were a time of great distress for many Americans. Events such as the stock market crash, an economy suffering from being inflated, overuse of credit, a farming crisis, and other events led America to the economic downfall known as the Great Depression. During the great...

The Great Depression Essay - 902 words

902 words - 4 pages Two books by different historians paint a largely similar picture of the Great Depression of the 1930s, but have quite different attitudes about this period.

The Great Depression Essay - 910 words

910 words - 4 pages The Great Depression Many times throughout history, the United States has undergone economic depression. The most recognized period of economic depression is called the Great Depression. The Great Depression is well known because of the seriousness of the stock market crash. The results of the crash were more serious than any other crash throughout American History. The Great Depression caused a change in the nature of the...

the great depression Essay

714 words - 3 pages 1 The Great Depression Causes of the Great Depression Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's and 30's, and the extensive...