РефератыИностранный языкThThe Great Depression Essay Research Paper THE

The Great Depression Essay Research Paper THE

The Great Depression Essay, Research Paper


THE GREAT DEPRESSION


The year of 1929 began a time period of horror in America. It was the


beginning of the great depression. A time in which many lost their


jobs,became homeless,and went hungry. Many people had to live off the


nutrition of weeds or some worked fifty – five hours and only earned seventy -


five cents. The cause of the depression was the stock market crash of 1929


known to investors as Black Tuesday. Black Tuesday is said to be the most


shocking financial event in the history of the united states. Not only did the


stock market prices drop drastically but the business world was brought down


with it. Inflation also rose because of the crash.


The crash that occurred on October of 1929 caused Americans to lose


Thirty billion dollars,and the American dollar value was 90% less than it was


prior to October of 1929. Wholesale and retail food prices dropped 40% and


farm prices dropped over 60%. About four million families were left


unemployed and on relief support only receiving fifteen dollars a month.


Because of the crash the government was required to set new regulations


regarding stock market trade. The reason for this was to attempt to prevent


another stock market crash from happening in the future.


The depression brought about many problems not only did people have to


worry about unemployment they also had to worry about crime. Many


Americans tried to get easy money by taking part in


robberies,kidnappings,and murders. In 1935 criminals out numbered


carpenters four to one, grocers six to one, and doctors twenty to one. In t

he


mid west, crooks with shot guns and Tommy Gun were a common thing. In


large cities the criminals were making money off of extortion,prositution and


auto theft.


GREAT DEPRESSION TIMELINE


1929


Herbert Hoover became president


Stock market crash begins on October 24


investors call October 29 Black Tuesday


Losses for the month are sixteen billion


congress passes Agricultural Marketing Act to support farmers until they can


get on their feet


1930


By February, Federal Reserve cut prime interest rate 6% to 4%


The smoot-Hawley Tariff passes on June 17


Democrats gain in congressional elections but still don?t have majority


The GNP fails 9.4% and unemployment rate climbs 3.2% to 8.7%


1931


A second banking panic occurs in the spring


The GNP falls another 8.5%


Unemployment rises to 15.9%


1932


This year and next year are the worst of the depression


GNP falls a record 13.4%


Unemployment falls another 23.6%


Congress creates the reconstruction finance corporation


Congress passes the federal home loan bank act


Congress passes the glass steagall act of 1932


1933


Roosevelt inaugurated


Third banking panic occurs


Congress passes the Emergency Banking Bill,The farm credit Act,and


National Industrial Recovery Act


1934


Gnp rises 7.7%


Unemployment falls 21.7%


1935


GNP rises 8.1%


Unemployment falls 20.1%


1936


GNP rises 14.1%


Unemployment falls to 16.9%

Сохранить в соц. сетях:
Обсуждение:
comments powered by Disqus

Название реферата: The Great Depression Essay Research Paper THE

Слов:551
Символов:3855
Размер:7.53 Кб.