The Great Depression Did you ever think America, the most prosperous country in the world, was once not considered “The Land of the Free and the Home of the Brave”? From 1929-1945, America faced its worst economic crisis. During the 1920’s, a combination of rise in the stock market coupled with certain negative events paved a way to economic decline. These events were, a decrease in agriculture, production, an increase in unemployment rates and outstanding debts. The eventual Wall Street Crash of 1929, led to The Great Depression, adversely affecting people's daily lives but finally America emerged victorious through these dark times (History.com Staff). The Wall Street Crash of October 29, 1929 was one of the most significant causes leading …show more content…
As a result of the Great Depression, factories and other businesses closed and had to fire their workers. “By 1930, 4 million Americans looking for work could not find it; that number had risen to 6 million in 1931” (History.com Staff). Industrial production in the country slowed down. With no source of income, families became destitute. There was no access to banks, nor were there any jobs available. There was a shortage of food and stores were forced to close down. “The country’s industrial production had dropped by half. Bread lines, soup kitchens and rising numbers of homeless people became more and more common in America’s towns and cities” (History.com Staff). Farmers were forced to leave their crops rotting away on fields while there were thousands not being fed at all. Life became tough on every citizen during this great hardship. President Hoover and his administration at the time tried comforting and supporting the people of this country. The government supported failing banks, so that loans could be paid off and insufficient cash reserves could be balanced. In turn, the banks would be able to turn loans into businesses. This helped to hire back employees and strengthen the workforce (History.com …show more content…
By 1932, President Franklin D Roosevelt won the presidential election. President Roosevelt brought about an optimistic vibe declaring, “the only thing we have to fear is fear itself” (History.com Staff). “During Roosevelt’s first 100 days in office, his administration passed legislation that aimed to stabilize industrial and agricultural production” (History.com Staff). This decision created a lot of jobs, sparked economic recovery and stirred hopes in people’s hearts. President Roosevelt reformed the system as well as stabilized the Stock Market. There were several other recovery programs that promoted jobs and agricultural growth as well. In 1937, a sharp recession hit again losing on some gains made in production and jobs. This may have extended the effects of the Great Depression through the end of the decade. Thankfully, the country bounced back again in 1938, making strides than before. Despite the hardships in America, World War II had begun and President Roosevelt decided to support Britain and France against Germany and the axis-powers. As a result, defense manufacturing soared to create more private sector jobs. This further strengthened the economy of the country. “The Japanese attack on Pearl Harbor in December 1941 led to America’s entry into World War II” (History.com Staff). On one hand America was propelled into war, on the