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Great Depression Outline

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The Summary of the Great Depression of the 1930s The Great depression was a global economic catastrophe. The Depression began in the 1920s for many Americans because of the food production and distribution stumbled along weakly. In that time, the U.S. government did not determine the levels of industrial and agricultural, and did not set the price for them, so economy was keeping changing that let to times of recession. Therefore, the government provided welfare-state benefit, such as medical care, during the Depression and many American families also provided the first line of defense against disaster. Hard time was nothing new for many poor families and they joined the growing ranks of hobos, riding the trains from town to town, looking for job. Even worse, severe drought exacerbated the difficulties of farmers across the plains regions and many migrant farm families fleeing the Dust Bowl came to symbolize the suffering wrought by the Depression. …show more content…

President Herbert Hoover declared that “excessive fortunes are menace to true liberty”, so he increased inheritance and income tax on the wealthy with no tax on the poor. He also created jobs for people who needed employment and establish the Reconstruction Finance Corporation to make the U.S. government credit available to the bank. However, he refused the veterans to receive the bonus early, then the Army chief of Staff Douglas MacArthur steeped in the escalated violence and the attack injured more than 100 people. On the other hand, President Franklin Delano Roosevelt nationalized the banking system, proposed the Emergency Banking Bill, and provided government support for private bank in order to many banks to fail. He also encouraged Congress to repeal the Prohibition Amendment and promised the American people a “New

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The great depression was an economic problem in the United States that started with the first domino to fall in 1929 with the stock market crash. In one day alone the United States lost over 14 billion dollars which this dramatic loss alone America’s industries would slowly start to fall 2 months after the crash in, stockholders had lost more than $40 billion dollars. During the 1930s, more than 9,000 banks failed. Bank deposits were not insured and, therefore, as banks failed, people simply lost their savings.

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Of the programs he created, the ones that helped Americans was the decrease in taxes on imported goods, increase taxes on business, having a public works project, and convincing local governments to create jobs. This way it made the depression ease in the eyes of Americans. Because of the poor money handling and the effort to get the economy back up again, President Hoover lost in the re-election against President Franklin Roosevelt. Roosevelt promised Americans a “New Deal” when he took office, and during his first “Hundred Days” as president, he signed a number of groundbreaking new laws (Gilder Lehrman). He signed numerous laws that would support the Americans by utilizing their money carefully and effectively, in oppose to President Hoover, who failed to do so.

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Many economists trace the start of the Great Depression back to the 1929 stock market crash in the United States. This impacted the United States in a major way causing many laborer’s to find themselves jobless. There was a dramatic drop in trade, income and taxation that was felt by every country in the world. In the United States the unemployment rate reached 25%. Put in perspective this means that 1 in 4 people during the 1930’s had no form of income.

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The great depression was a very hard time for almost all Americans. In 1930 there were 5 million people unemployed and it was up to 13 million by the end of 1932 in America. Almost all of America was classified as poor and didn’t have a living wage and most of America was falling apart. The three most impactful reasons that the Great Depression happened in the United States was because of the stock market crash, unregulated banking institutions, and overextension of credit/excess consumerism.

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The Great Depression was a severe worldwide economic depression that took place during the 1930s. The article by Edwin Gay and pictures compiled by Cary Nelson are both descriptions of how the Great Depression was and the several impacts that it had on the American economy. The range of the great depression is unprecedentedly wide according to Edwin Gay. The great depression was believed to have started from the collapse of the US stock market in 1929. This was shown in a picture as compiled by Cary Nelson

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758 Words | 4 Pages

The Great Depression was an enormous economic downfall in the history of the United States and was also a very hard time for many Americans. People had lost jobs, markets went bad, banks had shut down, and unemployment rate has gone up. It had lasted from 1929-1939. During the next several years, buyer spending and investment had dropped, causing a decline in industrial output and raising the unemployment level. It began with the stock market crash on October 29 1929, which had lost millions of investors, markets had lost $30 billion dollars in two days, making it ten times more than the annual budget the U.S had spent for WWI, and prices were dropping until the end of November.

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755 Words | 4 Pages

As stocks continued to fall, the nation lost hope, businesses were failing and unemployment rose dramatically. The president at the time, Herbert Hoover, did many things to control and put an end to the great depression but was unsuccessful. And so the inauguration of Franklin D. Roosevelt felt like a miracle for the destitute americans. Franklin saw the miserable state of the U.S economy and had a plan, the New deal, This consisted of many fresh ideas to fix the problems of the Great Depression, such as the Glass Steagall Banking Reform Act which was established to properly segregate commercial banking from investment banking. This act created the federal deposit Insurance which ended a century long tradition of unstable banking that reached a crisis during the Great depression.

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On October 29th 1929, the United States of America fell into an all consuming state of fear. The crash of the stock market and the economic tribulations that rural United Statians were facing resulted in the Great Depression. No matter where one would he or she would encounter a plague of despair and people looking for the same jobs that no longer existed. People left their homes hungry for opportunities but would end up with starving for not only a small sum or money but a morsel of food as well.

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548 Words | 3 Pages

The Great Depression was a severe worldwide economic depression in the 1930s. It was the longest, deepest, and most widespread depression of the 20th century. It challenged American families in major ways, placing great economic, social, and psychological strains and demands upon families and their members. Millions of families lost their savings as numerous banks collapsed in the early 1930s. In addition, farmers lost their crops and failed to make a living.

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The Great Depression was a catastrophic period of economic hardship that lasted from 1929 to 1939. It was caused by many primary and underlying factors that led to a downfall in economic activity and widespread unemployment. Some of the major causes of this event were stock market speculation, overproduction in numerous industries, underconsumption by consumers, high levels of debt, and the fateful crash of 1929. All of these factors combined created a severe economic emergency that resulted in extreme levels of unemployment and poverty for many Americans.

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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.

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Christian Stagliola Mod: F. History 1/12/23 5.4 Essay Rough Draft The Great Depression of the 1930s was a significant economic and social crisis that greatly affected the American people and the government. Millions of Americans lost their jobs and savings and were forced to rely on charity or government aid to survive.

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FDR was a progressivist, meaning government should influence the daily life. During FDR’s first 100 days in office he and the Senate pass a bunch of laws (such as the FDIC, AAA, CWA, PWA, etc.) that would hopefully get America out of the Depression, but FDR was experimenting and was not sure if the laws would work. On March 6th FDR ordered a Bank holiday to stop massive bank withdrawal then on March 9th only allowed financially stable banks to reopen. FDR also proposed the New Deal, which included the 3 R’s.

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The Great Depression was one of the most devastating economic crises in the history of the United States. It began in 1929 after the stock market crashed, setting off an economic spiral. Lasting for a decade it caused widespread unemployment, poverty, and social unrest. The economic collapse had devastating effects that had impacted everyday American life, including individual families, to the national economy, and even the government. During this period of time the American people faced a range of challenges including, unemployment, homelessness, starvation, and social inequality.

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Utopia was written by one of the greatest minds of his time, Thomas More. Written in 1516, however its commentary on politics is still very valid and there are many truths about human nature that still apply to modern world. The idea behind the book is “a wish for humans to work together, so that all might prosper.” Thomas More provides a vision of a virtuous society in Utopia. While the society that he illustrates is not necessarily completely ideal or flawless, the society stands as an opposite of his native England as it exists in 1516, the year of Utopia’s publication.

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