The Great Depression Essay

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. Investors, the ordinary work force and consumers sank rapidly with the panic that spread across the world. The United States tried to gain security through several attempts at restoration. With the help of president Roosevelt and his attempt to restore security with The New Deal the nation would overcome the onset crisis.

The ordinary people affected by the crisis experienced many forms of mass unemployment. As the workforce began to panic the anxiety grew stronger. The stress of unemployment and anxiousness forced thus individuals to look to the government for the answers. Governments quickly responded to the anxiety by raising taxes. Which in turn only seemed to make matters worse. The United States attempts at restoring the nation with confidence failed. Some believe that the main reason being that the United States had developed an enormous economy of mass production, but the larger picture consisted of analyzing more than the mass production. Instead there was a problem arising. How would the nation survive with a population of mass production and a decrease in consumption became the main question being analyzed. As the stock market crashed and the United States economy began to as well the U.S. government began to focus on the idea of every nation for themselves.

The United States quickly rejected taking on the responsibility of being the world?s financier. They rejected the thought of canceling the war debts and reparations. Their attitude towards the economic downfall and the depression settling in was approached wrong in all ways. The only hope the U.S. would gain was the idea brought on by President Franklin Roosevelt.

After Roosevelt?s election in 1932 he approached the situation with a brighter solution, and what would be known to the world as The New Deal. When all the sources of government had hopelessly failed many followed Roosevelt without an ounce of reluctance. Over twenty-five percent of the workforce was unemployed when he was elected. His first action was to reopen the banks across the nation and he did this by depositing savings guaranteed by the Federal Deposit Insurance Corporation. He issued the Federal Emergency Relief Act, which replenished the funds used by cities and states.

The New Deal approached the nation with a strong backbone and gave the suffering individuals the support they needed and the stability to turn to. Roosevelt supplied these theories and backed them with acts and limits to many areas of the hurt...

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