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The Great Depression In The Mid-1900's

730 Words3 Pages

During the mid-1900’s, the United States had experienced an era of extreme economic downfalls and social issues called the Great Depression. It was far more intense than previous depressions since it occurred after the first World War, when the country was at its all-time high in profits from selling food and supplies to Europe. After the U.S. exceeded in their time of prosperity, a surplus of crops and goods were overgrown and overproduced than the amount that was being sold. Also, banks were overspending other peoples savings in the stock market and to buy bonds. This lead to millions of Americans to lose their savings in the stock market and banks, become unemployed from businesses, and being kicked out of homes for being unable to pay bills. …show more content…

For example, Dr. Santos, interviewed in 1935, had described how the amount of “those who did not work, have multiplied to such an extent that if I should say 25,000,000 workers are without work at the present moment, I would not be mistaken” (Santos, 1935). Some of the effects of the Depression include the mass unemployment of Americans due to financial issues with the bank and economy in general. President Roosevelt created programs in public works which helped provide people jobs by constructing highways, bridges, hospitals, schools, theaters, libraries, city halls, houses, post offices, airports, and national parks (Walker, 2011). However, the sheer numbers of the rate of unemployment for workers was still considerably high with these programs in use, still ranges in the millions. Furthermore, “in 1939, the unemployment rate was still at 19%, and not until 1943 did it reach its pre-Depression levels ("An Evaluation of the New Deal," 2008). The work programs President Roosevelt created had failed its purpose in providing immediate support of jobs to American workers who were unemployed during the …show more content…

For example, Dr. Santos stated that “I believe that it has been a failure as it has protected the trusts more than the American people.” (Santos, 1935) . Some programs of the New Deal dealt with issues on the securities of people’s savings accounts to reinstate the confidence of banks in the country and regulated the stock market to avoid any serious disasters or crashes. The government relied on the act of people not withdrawing cash from the bank, but instead financing it with their own savings account. During his time as president, “Roosevelt more than doubled the national debt in two short terms” ("An Evaluation of the New Deal," 2008). He was too busy trying to put money into the banks and accounts that he was not conservative of the funds of national debt that would eventually accumulate beyond the reach of what Americans could actually repay. The financing programs created by President Roosevelt failed to provide economic relief to the

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