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The Great Depression Essay

1611 words - 7 pages

“Severe despondency and dejection, typically felt over a period of time and accompanied by feelings of hopelessness and inadequacy”. That my friends is the true definition of of what the Great Depression really was. It was a time that most people want to never remember or ever happen again. You would think the United States would have learned from their mistakes but it seems we are going down the same road once again without even taking a step back and realizing it. When people talk about the Great Depression not a single person will have anything good to say about it. It caused families a great deal of pain that they will never forget. With the “prices of farm products falling about 40% by 1921 and remaining low through the 1920s” it seemed that this tragedy was never going to get fixed. Things for the Great Depression was obviously not looking good because of the stock market crashing, over production of products, and not having sufficient jobs and suffering of African Americans.
With the stock market at the worse it has ever seen it caused many issues in the social classes dealing with money. With most peoples primary focus on buying the latest car model or household appliances with what they thought they had everything figured out with the newly developed “credit” that the banks were allowing them to use. What they didn't know was that they were digging themselves a hole that they truly couldn't get themselves and even the government out of. Rich and poor was so imbalanced that “.1 percent of society earning the same total income as 42 percent...” With the producing of more and more goods to satisfy the needs of many individuals. The day that the government never saw coming finally hit them right in the face. That day was know as Black Tuesday, and on October 29, 1929 the Great Depression was in full effect. “With banks failing and businesses closing, more than 15 million Americans (one-quarter of the workforce) became unemployed” and the president was completely oblivious of what was going on. President Herbert Hoover, underestimating the seriousness of the crisis, called it “a passing incident in our national lives,” and assured Americans that it would be over in 60 days.” Saying something like this is completely crazy because he didn't know what he had coming down the road. With President Hoover in office and not even attempting to offer any kind of support to bail America out of debt, when election time rolled around thats when the rich governor from New York soon took over in the next election. That President was the great Franklin Delano Roosevelt, and his plan was the complete opposite of what Hoover had in mind. Taking action on the Depression, Roosevelt declared “a four-day bank holiday, during which Congress passed the Emergency Banking Relief Act to stabilize the banking system.” Roosevelt thought this would cure the problem quick and efficiently. The New Deal was in full effect with the confidence that Roosevelt brought, the...

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