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Great Depression Dbq

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Everything was normal, people were happy with jobs and being able to provide a home and food for their families. Until things weren’t normal. The stock markets crashed on October 29, 1929. This was the beginning an economic downfall throughout the nation and most of the world. Many people had lost their jobs and were homeless. Poverty increased as more people lost their jobs. There were troubles everywhere. Banks were closing and other countries were getting affected by this terrible economic downfall. At one point the economy was down by 33%, the unemployment rate was 25% and banks were going bankrupt. This was the start of the Great Depression. The two presidents at this time were Herbert Hoover and Franklin Roosevelt. They brought the nation …show more content…

Congress responded by establishing the Reconstruction Finance Corporation and signed a bill authorizing $2 billion in spending in order to save businesses.” Hoover asked Congress to lend money to save our institutions. In return the Congress granted 2 billion dollars to do so. This supports the claim that the economic decisions were most effective to bringing this crisis to an end because the 2 billion dollars were used to save the banks and other businesses. This way people would get jobs to work at these businesses. Also it would also decrease the unemployment rate. In the long term effect people would recieve money for their families and be able to support them. Also according to “Two Presidents and the Depression” it states, “He did not think it was fair for people to run a debt that their children and grandchildren would have to pay back. He also believed that if the government kept on borrowing money, it would be much harder for businesses to borrow and start producing again.” Hoover wanted to bring the Great Depression to an end and the best way he thought was to end debt. This supports the claim that the economic decisions were most …show more content…

According to “Two Presidents and the Depression” it states, “...Hoover called business leaders to meet him in Washington. He then asked them to keep up production and not to lay off workers or cut wages.” Hoover didn’t want there to be a decrease in employment. This supports the claim that social decisions were most effective to bringing this crisis to an end because the people will still be getting paid, so they are able to support their families. This also will help the U.S. end the downfall because there is minimal change to the way the businesses work and how the workers will live. There would be less poverty and the workers would be able to support their families. Also, according to “Two Presidents and the Depression” it states, “The most immediate crisis was the problem of massive unemployment. Roosevelt proposed a number of solutions. The FERA (Federal Emergency Relief Administration) was created to funnel money to the states so they could rapidly create jobs for the unemployed.” There is a way to decrease the amount of poverty. This supports the claim that social decisions were most effective to bringing this crisis to an end because there would be less people unemployed. The workers will be able to support themselves and their families. A decrease in the employment rate would mean an end to the downfall because when people are getting paid they can start to pay off

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728 Words | 3 Pages

This tragic event sent Wall Street into a complete frenzy and took out millions of investors. Over the next few years, consumer investment and spending decreased. This caused sharp declines in manufacturing production and rising levels of unemployment. By 1933, 13 plus million Americans were unemployed and nearly half of the country’s banks failed (Coker, 2005). Thanks to the reform and relief measures placed by President Franklin D. Roosevelt helped diminish the most horrible effects of the Great Depression.

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1091 Words | 5 Pages

Hoover understood that not being involved into the lives of the American people worked for Coolidge, if something is going well, there's no need to change it. Until the Great Depression in 1929 he kept that mentality, but something needed to change and was expected of him when the economy was so low. He created the Reconstruction Finance Corp. with the 3 platforms of volunteerism, localism, and rugged-individualism. Describing volunteerism as helping each other out and the need to get involved, localism focused on state governments to make their attempt to fix the problem first rather than the federal government, and rugged-individualism was this new term of growing character and that American culture of fixing things out on their own and after getting through the rough and tough, they will succeed. “Economic depression cannot be cured by legislative action or executive pronouncement “ (DOC C).

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1974 Words | 8 Pages

 Hoover is often blamed for not doing anything to end the Great Depression, but he actually did try to use the government to create infrastructure projects, thus creating jobs. Like the Hoover Dam and the Reconstruction Finance Corporation to try to end the Depression. There are two major differences between their approaches.  One is that President Roosevelt was willing to do more than President Hoover to combat the Great Depression.  Roosevelt was willing to let the government become more involved in the economy.

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564 Words | 3 Pages

The wealth during the 1920s left Americans unprepared for the economic depression they would face in the 1930s. The Great Depression occurred because of overproduction by farmers and factories, consumption of goods decreased, uneven distribution of wealth, and overexpansion of credit. Hoover was president when the depression first began, and he maintained the government’s laissez-faire attitude in the economy. However, after the election of FDR in 1932, his many alphabet soup programs in his first one hundred days in office addressed the nation’s need for change.

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509 Words | 3 Pages

Throughout the years to come, investments and consumer spending would crumble, creating a huge drop in industrial output and large numbers of unemployed workers due to the results of failing companies. As of 1933 the Great Depression hit an all-time low, 13 to 15 million Americans were unemployed and now half of the Nation’s banks had failed. With President Franklin D. Roosevelt’s policies and new deal programs, he aimed to end the Great Depression. Even though the economy would not make a full turn around until after 1939, President Roosevelt concentrated on immediate relief as well as long term, and restoring hope back into the economy.

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1080 Words | 5 Pages

In 1832, he shared these ideas in his Annual Message to Congress. His first point was the “continuing reduction of all government expenditures, whether national, state, or local” was essential to repairing the economy (Hoover). Hoover states the importance of this step by saying, “That is the first necessity of national stability and is the foundation of further recovery. It must be balanced in an absolutely safe and sure manner if full confidence is to be inspired” (Hoover). He acknowledges that the only way to move forward in recovery is through the stabilization of the nation.

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1434 Words | 6 Pages

During the Great Depression, the U.S. was facing a plethora of problems. The economy collapsed and a huge portion of the money was among a very small number of very wealthy individuals. Common people and workers resorted to living in villages called Hoovervilles where the houses were made up of whatever could be salvaged. Before the Great Depression began people took out loans carelessly without money to back it up; people were paid too little and goods cost too much. The result of a larger amount of goods were produced than sold eventually lead to an economic downfall.

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270 Words | 2 Pages

Roosevelt’s idea was almost the exact opposite he believed that it should be the government's responsibility to get the people out of this crisis. Today we are still reaping the benefits of Roosevelt's new deal such as social security act, National Youth Administration and many more that helped us get out of the deepest depression this country has ever

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892 Words | 4 Pages

New Deal The Great Depression began soon after the stock market crashed. As a result, the people lost their jobs, banks failed, and companies went bankrupt. One long term cause of the Great Depression was when people put their money in banks and when they went back to get It, It was not there because the banks had no money because they loaned it out to big companies and then the big companies were not making money so they could not pay the banks back. The second long term cause was when they had to shut down the railroad tracks because It was replaced by busses and cars.

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1526 Words | 7 Pages

Hoover exclaimed “We in America today are nearer to the final triumph over poverty than ever before in the history of any land”(White House), but only months later the stock market would collapse and plunge the nation into a depression. After the crash, Hoover discarded Republican officials who “believed there was nothing for the government to do but wait for the next phase of the business cycle”(Britanica 1). Hoover started by calling business leaders to the White House and urging them to not reduce wages or lay-off workers. Hoover also “asked Congress to appropriate money for public-works projects to expand government employment”(Britnica 1). Though Hoover attempted to act, the depression worsened and plunged the nation's economy into further depths of despair.

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1558 Words | 7 Pages

The Great Depression was a severe economic downturn in the United States lasting from 1929 to 1939. During the time of the Great Depression, stock prices plummeted, and unemployment had risen. Since millions of individuals lost their jobs, poverty and homelessness became so widespread as investors lost significant amounts of money resulting in a widespread panic and a decline in consumer spending. Because of this, the agricultural sector also suffered due to falling crop prices, leaving many struggling to meet basic needs. Although this period caused an economic downturn and unemployment, several ideas and developments such as New Deal Programs, labor movements, technological advancements, and social security.

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89 Words | 1 Pages

As unemployment increased and the Great Depression continued, President Hoover called a conference to try and find a solution to the economic crisis. He told business leaders not to lower the wages, but at the same time they did lower the wages which forced their businesses to close down and unemployment to persist. President Hoover also tried to help farmers and the businesses. In the past, the government of President Hoover was known to hold onto people’s money; however; at his urging congress provided resources to help the

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765 Words | 4 Pages

If you got lucky and did not get fired the wages fell and the buying power increased. The americans that were forced to buy on credit fell into debt,and the numbers of repossessions and foreclosures increased steadily. The gold standard fixed currency exchanged around the world, and helped spread economic distress from the U.S. through the world.7When the country elected Franklin D. Roosevelt he promised he would create federal government programs to end the Great Depression.8 The federal government programs allowed people to get more jobs and help the economy increase. Roosevelt was a big influence during this time period and impacted many people, giving jobs to citizens and boosting the economy. After Franklin Roosevelt created the federal government programs it allowed the economy and society to grow and strength from the unlucky situation.

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1020 Words | 5 Pages

In 1929, the stock market crashed significantly and caused widespread unemployment and poverty. The Great Depression began in 1929 and did not begin to end until 1939. Most states were not fully recovered until the mid-1940s. During the Great Depression, people had to stand in long lines just to get essentials. The economy was in a huge decline, and many people lost their homes and jobs from this.

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780 Words | 4 Pages

In the early 1930s the labor force in countries that were industrialized saw as much as one forth of its workers unable to find work. Conditions were starting to improve by the mid 1930s, however total recovery did not happen until the end of that decade. This was a very difficult time in United States history and around the world, but it could be said that something good came out of it, central banks throughout the world now try to thwart or moderate recessions. It is unclear whether a change like this would have occurred if not for the

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