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Great Depression DBQ On October 29, 1929, the stock market crashed and thousands of lives were changed and millions of dollars were lost. It came to be known as Black Tuesday, the day when the stock market dropped incredibly and life was never the same. On the 24th of October, the market dropped a little, but on the 29th, the market crashed completely. Americans were scared and in disbelief, so they rushed to the bank to claim their money before their life savings were gone forever.
American economy had completely shattered during the depression. Beforehand, the US implemented high tariffs on foreign goods, aiming to improve the US's own economy. This was a form of Protectionism. These tariffs slowed down world trade. The economy was falling off the economic edge.
Joshua Youngworth Mr. Wall Period 4A 1-13-23 Stock Market Crash and the Great Depression Prior to the Great Depression stocks started to be purchased much more commonly as people assumed they could only gain profit from them. After the stock market crashed in 1929, the Great Depression soon began and the United States fell into a state of financial struggles. The Great Depression was a time where these struggles were common for tons of people all over the country and unemployment rates skyrocketed. The stock market crash caused the Great Depression because families couldn’t pay for anything, businesses started to fail, and banks closed.
Many Americans lost all their money to the stock market when it crashed in 1929. Americans looked to President Hoover to end the depression. Most of Hoover’s policies were not likely to end the Great Depression. For example, President Hoover believed if the government could save business’ like banks, railroads, insurance, etc. that it would stop business collapse.
The Great Depression started do to the stock markets failing in October of 1929. This event was said to the be “longest-lasting economic downturn”. Once Wall Street went into a panic, millions of investors were wiped out. Over the next few years investments dropped and consumer spending. The industrial district was in a decline in production and since the stocks were failing they could not produce a great amount so they had to let go their employees to save money.
In Allen’s chart, he illustrates how only 2% of the American population makes over $10,000 a year. With the poverty level at $2000 a year, most of the American population fell close to or under this annual income (Doc 8). These low wages of annual income made people's’ lives a true struggle. Citizens would work for nearly 24 hours, all week long, just to get by with basic living standards. An example of living at or below the poverty level, is documented in Paul Blanshard’s “How to live on Forty-six Cents a Day” interview with a woman living in South Carolina with her family of 6.
The Great Depression started in 1929-1939 and lasted for a decade. The cause of the Great Depression was the market crash. Americans were eager to get rich quickly so they started to buy stocks on margin but the plan backfired. Investors began to worry that the stock prices would fall so they began to sell off their stocks. Those who lent money depended to repay their loans.
On October 29th, 1929, the worst economic downfall to ever happen occurred. This date marks the beginning of a long twelve-year depression filled with suffering of many kinds for all types of classes of people. Ontop of suffering for classes of all kinds, there were many causes of this depression that ruined lives not only in the United States but worldwide as well. Because of the effects of this depression it caused the civilians and the government to react and be effected in numerous negative ways.
The Great Depression The year 1929 started off as a year of wealth and prosperity in America, but ended with the worst financial disaster America has ever seen. First, the period of prosperity ended in a single day, when a crash in the stock market lost over fourteen billion dollars of investor money. Banks across the country were closing to cope with the loss which sent customers into a panicked frenzy. Second, no one had money because the banks had no money, loans fell through and houses were foreclosed, some people losing everything.
Sam Wylie Mrs. Guidry US History 6 November 2015 The Great Depression & Elections of the 1930s In 1929 the stock market crashed under the president Herbert Hoover, this was the start of hard times that would only get worse. The Great Depression was one of the most horrifying and remembered events in American history. Banks were failing, people were starving, poverty was all around, and unemployment was at an all-time high.
Zaid Mehmood Professor Brucher Paper 2, Draft 1 3 April 2024 A Time of Economic Disparity The Great Depression’s impact on society for the working-class was profound. Sharp economic downfall has resulted in families across the country experiencing financial hardships. Farmers faced challenges with the agricultural economy declining, leading to falling crop prices, which ultimately led to many losing their farms, because they were unable to make enough money to pay their mortgage and debt.
America was rocked by financial hardship in the wake of the Great Depression. No one was immune to its effects. It was ironic that then President Herbert Hoover had stated “We in America today are nearer to the final triumph over poverty than ever before in the history of any land.” Hoover could not have predicted the great economic crisis, but it shook America to the core. In October of 1929 the stock market crashed, rocking Americans like an earthquake.
The years prior to World War II little hope or improvements for Blacks. It was a time characterized by the realities of Jim Crow and poverty. The Great Depression of the 1930's had double the impact on many Blacks, who were already living below the poverty level before it began. For Southern Blacks, the burden of day-to-day struggle to survive in a society of sanctioned racism had gotten heavier.
The great depression, which occurred in the 1930s, was a major economic downturn that had a significant impact on the world. It was a revolutionary event because it resulted in significant changes in the and political systems, such as the rise of government intervention or social welfare programs. It also led a shift in societal attitudes and values, as well as changes in the global balance of power. The great depression was a revolutionary event that resulted in significant changes in economic and political systems, as well as a shift in societal attitudes and values.
The Great Depression was a catastrophic event that happened in the late 1920’s to the early 1930’s. The reason this happened was when the stock prices fell, causing the economy to completely collapse leading to severe economic failure. This event is what caused countless people to lose their jobs, which meant people were struggling to provide for their families, unable to pay for food and housing and the things they needed to survive, people started becoming homeless and weren’t able to eat. Businesses were failing and were not able to gain any revenue because people were losing their jobs, workers were being fired because they couldn’t afford to be paid, businesses were shutting down due to the fact that they were not able to make money to
