Essay Examples on The Great Depression Essay Example

Essay Examples on The Great Depression Paper 1st Essay Sample on The Great Depression The Great Depression was a bad time in history for everyone.It was the worst financial slump ever in U.S. history.The depression began in late 1929 and lasted for about a decade.Many people were affected by this event.The main cause for the Great Depression was a combination of things. First, thing that caused the Great Depression was the stock market crash.The stock market crash began on Black Friday in October 1929.In addition, the Federal Reserve raised interest rate in 1930 and 1931.This reduced the chance of recovery for investors who had to pay their debts.Banks everywhere went under.Businesses couldn’t continue to operate. Farmers fell into bankruptcy. A quarter of the working force was unemployed in 1932. Next, Hoover felt the only way to save the country from depression was to have the government get involved.He requested that local governments spend their money on public works projects. He created the Farm Board in 1929 to help support the prices of wheat and corn.When the farmers ran into trouble, the rural banks were not far behind. Since they were the main lenders to the indebted farmers, they suffered when the farmers suffered. This led to panic throughout the worldwide banking system. Then, Roosevelt believed the only way out of the depression was for the government to spend money. We will write a custom essay sample on Essay Examples on The Great Depression specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Essay Examples on The Great Depression specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Essay Examples on The Great Depression specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Roosevelt started a lot of programs.Some programs he tried creating would be the CWA, PWA, and WPA. He set minimum wages, conditions, and maximum working hours, making it tough on businesses.Hisfirst AAA made farmers happy by paying them not to plant crops.He was responsible for creating the New Deal and the Second New Deal. The Great Depression was a very devastating event in history.I could never imagine having to go through that type of event.With the New Deal, the American economy recovered gradually. 2nd Essay Sample on The Great Depression Many things can be attributed to the cause of the Great Depression. The stock market crash can be seen as a starting point but not the only cause of the depression.With people spending money as often as they could, and not even having any to begin with they ended up buying new cars or radios on installments up until the point that they were unavailable to buy any more merchandise. This continued with the belief that everyone was able to be rich, and this lead to more careless spending.An uneven money distribution was also accredited to the great depression, and with money going to just the rich rather than being giving equally, the middle class began to suffer greatly and with that they started down the road to utter poverty.One last cause that further developed the great depression was the new tariff acts established; this was more seen as a cause rather than a solution. In the mist of a prosperous period in American history, citizens were wasting their money on things they wanted but did not really need.The great wealth†¦has had the widest distribution among our own people†¦has gone steady stream†¦into the region of luxury. (Doc. B)Being as optimistic as Hoover was, Americans were reassured of their economic status and began to shop more than usual. Americans continued to buy one more car or radio, and when people had bought all they could afford they stopped buying.Demand for supplies fell causing manufacturing companies to drop its prices. As a result of this change in the economy, cotton prices, wheat prices, etc, fell dramatically leaving farmers with major money problems.Americans had been in an expansion peak with high qualities of supply and demand, but as Americans stopped buying the country went into a contraction, which led to a trough.