Cause Of The Great Depression
President Franklin D. Roosevelt once said, “Don’t allow our doubts of today limit our tomorrow.” Roosevelt’s strong word of encouragement and plans that he had led us out of one of the deepest and darkest periods our nation has ever faced. The Great Depression lasted from 1929 – 1939, was a terrible time that left millions of people bankrupt with no money at all. According to Christina D. Romer, “The economic impact of the Great Depression was enormous, including both extreme human suffering and profound changes in economic policy” (Romer, “Great Depression”). It created many issues for people across the nation, leaving them with ten years filled with nothing but misery and despair. From the causes of the depression all the way to the reconstruction
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Despite the events that were occurring, American citizens decided to continue to invest lots of money into the stock market, which made it hit its highest point in the year of 1929. After a while, a decline in stock began to surface, and on October 24, 1929, many of the stock investors tried to sell millions of their shares in severe panic as the decline continued to drop. The stock market finally crashed on October 29,1929, also known as Black Tuesday, and many of the investors including the banks lost billions of dollars. This resulted in an economic depression that lasted for ten years and spread to other nations' economies that were connected with America, especially America’s partners in …show more content…
They listened to music, and watch movies to put their minds off of their problems. They used other things for meat, repaired clothes with things they could find, and some even moved in with other families. This sense of determination was the beginning of getting America out of bad position and back into business. When Franklin Delano Roosevelt became president and entered office in 1933, he set out on a mission and was determined to whip America back into shape. He did this by creating what we know as the “New Deal.” The New Deal was a plan created by President Roosevelt, that consisted of programs that were designed to provide jobs and help stabilize our economy. Though many people like Frank Knox said, “The sole alternative to a continuation of unsound economics and disastrous policies of the New Deal is a restoration of the Republican party to power” (Knox, p.243). Those same disastrous policies are still in motion, and still helping us today like they did when the Great Depression was in effect. Two very well know federal programs are the CCC and the SSA. The Civilian Conservation Corps, or CCC, was a work relief program created to provide employment to people who were struggling by building public places and trails for national parks. The Social Security Act gives an income to people who are retired so that they won’t have to worry about
Despite the events that were occurring, American citizens decided to continue to invest lots of money into the stock market, which made it hit its highest point in the year of 1929. After a while, a decline in stock began to surface, and on October 24, 1929, many of the stock investors tried to sell millions of their shares in severe panic as the decline continued to drop. The stock market finally crashed on October 29,1929, also known as Black Tuesday, and many of the investors including the banks lost billions of dollars. This resulted in an economic depression that lasted for ten years and spread to other nations' economies that were connected with America, especially America’s partners in …show more content…
They listened to music, and watch movies to put their minds off of their problems. They used other things for meat, repaired clothes with things they could find, and some even moved in with other families. This sense of determination was the beginning of getting America out of bad position and back into business. When Franklin Delano Roosevelt became president and entered office in 1933, he set out on a mission and was determined to whip America back into shape. He did this by creating what we know as the “New Deal.” The New Deal was a plan created by President Roosevelt, that consisted of programs that were designed to provide jobs and help stabilize our economy. Though many people like Frank Knox said, “The sole alternative to a continuation of unsound economics and disastrous policies of the New Deal is a restoration of the Republican party to power” (Knox, p.243). Those same disastrous policies are still in motion, and still helping us today like they did when the Great Depression was in effect. Two very well know federal programs are the CCC and the SSA. The Civilian Conservation Corps, or CCC, was a work relief program created to provide employment to people who were struggling by building public places and trails for national parks. The Social Security Act gives an income to people who are retired so that they won’t have to worry about