The Great Depression was undoubtedly the worst economical time period in United States history. On October 29, 1929, prices of stock in the New York Stock Exchange fell drastically, and following the declinations, the stock market officially crashed. This day was known as “Black Tuesday,” and its effects would last for a decade. To say that a person was not affected by the Depression would be a complete lie, as every single citizen within the country was affected by this omnipotent crash. From wealthy families in New York City, to minorities in the South, the stock market crash brought pain and suffering to everyone.
After crash of the New York Stock Exchange, the lives of American citizens began to change rapidly. Factories and businesses began firing employees at extremely high rates, as they could no longer afford their employees. In fact, about 25% of the nation’s able-bodied people were unemployed. In addition, banks began to permanently close their doors. This was because many people wanted all of their money physically in front of them; however, the banks did not have a great supply of money to give, and eventually, ran out of money entirely. The rising of unemployment and the closings of banks caused an abundance of people to begin to live in a world of poverty.
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This occurrence happened to hundreds of thousands of people within the nation (1.) To combat homelessness, shanty villages composed of cardboard boxes, crates, tarps, and essentially anything else that could be used to build some sort of shelter became very popular. These villages were known as “Hoovervilles.” The term “Hooverville” was used as a politicized label to blame President Hoover and the Republican party for the economical crisis that was shed upon the American people