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How Did The Great Depression Affect African Americans

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The Great Depression’s Impact on Economic Prosperity for Blacks and Whites in America.
The Stock Market Crash and The Great Depression had a huge economic impact on Blacks and Whites in America. The Stock Market Crash was the most devastating crash in American history. It began on October 24, 1929 (Black Tuesday). Black Tuesday refers to October 29, 1929, when panicked sellers traded nearly 16 million shares on the New York Stock Exchange.(Invest answers) Black Tuesday is often cited as the beginning of The Great Depression. The Stock Market crashed because of many economic imbalances and structural failings, such as borrowing money to buy shares, overconfidence that the market would continue to rise, increase in a number of loans and many …show more content…

Also if banks wouldn’t have started using depositor funds. Americans were dealing with starving, desolation, hopelessness, poverty during The Stock Market Crash and The Great Depression and had a lack of trust for their government and many Americans were unemployed. Also many Americans were very depressed. Tragic events that were occurring after The Stock Market Crash was people starving, having no jobs, homeless, no money which then led into The Great Depression. In the aftermath of Black Tuesday, America and the rest of the world coiled into The Great Depression (1929-39), the deepest and longest-lasting economic downturn in American history. The Great Depression made all of America realize how delicate our economy is. One thing goes wrong and the whole thing can just fall like dominos.
The Great Depression was important because it pushed the US into a better economic system. There were laws set afterwards to attempt to prevent something like that happening again. It also produced a lot of great organizations through the work of FDR (Franklin Delano Roosevelt). The numerous amount of programs were known as his “alphabet soup” he knew that this time was hard for Americans and through some of his programs, he gave Americans their dignity …show more content…

Even though the stock market began to regain some of its losses, by the end of 1930, it just was not enough and America led into the Great Depression. Another cause was Bank Failures many Bank deposits were uninsured and thus as banks failed people simply lost their savings. Reduction in Purchasing Across the Board was another cause. With the stock market crash and the fears of further economic woes, individuals from all classes stopped purchasing

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