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Great Depression Of 1929-1939 Research Paper

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The Great Depression of 1929-1939 was the worst economic period in the history of the U.S.. Citizens relying on credit, bank failures, and bad farming practices were just a few of the many that led to the disaster. After the “Roaring 20’s” people started to try new things, AKA the age of rebellion. With that, many people started creating new inventions and sharing more ideas, but with this came many flaws leading to economic disasters. As businesses became successful, they developed a new concept where people would buy on credit. Citizens went crazy and bought expensive things with money they didn't have. For example, many would buy houses on credit, only downturn was that the loaned money had to be paid at one point. People didn't have the …show more content…

This ended the use of credit and closed down many businesses, leading to people losing their jobs. Then when the US government tried to help businesses by allowing them to put taxes on foreign goods under the “Smoot-Hawley Act of 1930” the depression spread to Europe. In response, Europe began putting tariffs on the US’s goods, dropping world trade by 23. Now it was a lose-lose situation for everyone. With the loss of jobs and insane loss of money, farmers income decreased leaving them to have to sell their farm. All the overproduction of crops just for them to decrease their prices ruined farmers. Another thing farmers were going through at the time was a drought, due to poor farming practices on flat areas great erosion occurred. And while there was barely ever any rain, this event later became known as the “Dustbowl”. The dust not only hurt farmers income, but it also hurt the farmers and their families health. Dust would enter through the cracks of the house, then all the family would breathe, getting them sick and some died. Out of panic, many farmers decided to take their families to the city and search for jobs

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