Great Depression DBQ
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(Be sure to BOLD your document #’s and highlight outside information) After the stock market crash of 1929, America went into a severe financial crisis known as the Great Depression. During this Great Depression, about 75% percent of American Families lived in poverty, and 25% of people lost their jobs and became unemployed. During this time, many banks went out of business too because people demanded their money back due to the Stock Market Crash. This caused a huge economic banking emergency. Two problems Americans faced during the Great Depression were unemployment and the banking crisis.
The first problem Americans faced during the Great Depression was unemployment. According to document
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When many people bought stocks on margin, with the mindset of “buy now pay later”, eventually caused the Stock Market Crash of 1929. When the stock market crashed in 1929, most people ran to their banks demanding their life savings back in cash, but the banks didn’t have enough money to do so, therefore they went out of business. This was the banking crisis. According to document 2, the caption reads, “Disbelief turned to panic as people besieged [stormed] the banks (this one was in New Jersey) trying to withdraw their life’s savings — often too late.” This helps demonstrate the mentality of many Americans who had their life’s savings in the bank, and how this conflict of banks going out of business started. In the picture, you can observe that there was a huge crowd of people outside of a bank in New Jersey, demanding their money. As more people began to show up to banks trying to withdraw their old deposits, the more the banks began to go out of business. Hoover thought that the banking crisis would naturally fix itself, and that the government shouldn't interfere. This was a problem because it didn’t fix itself and was progressively getting worse to the point where around 9,000 banks had to shut
The Great Depression affected millions of American financially. After the stock market crash in 1929 and particularly after the banking crisis of late 1930, many Americans lost their jobs and were living in poverty. Herbert Hoover was the president of the United States at the beginning of this Great Depression. During the beginning of Hoover’s presidency most Americans supported a laissez-faire system as did Hoover . In a laissez-faire system the market dictates the economic prosperity of the country.
The great depression was a very hard time for almost all Americans. In 1930 there were 5 million people unemployed and it was up to 13 million by the end of 1932 in America. Almost all of America was classified as poor and didn’t have a living wage and most of America was falling apart. The three most impactful reasons that the Great Depression happened in the United States was because of the stock market crash, unregulated banking institutions, and overextension of credit/excess consumerism.
Fortunes disappeared within days and people surrounded the banks in an effort to withdraw their life savings which was often too late causing panic. This caused the political, economic and social organizations in the US to collapse to all-time
The Stock Market Crash of 1929 fell with a domino effect, driving people out of businesses, causing employers to fire workers because of money shortage, consequently, those workers to go broke and become homeless, and eventually setting the country into the hardly-reversible state of hardships that came with the Great Depression. Quite obviously, the country was impoverished. Panic arose as people started to withdraw all their savings from the banks as soon as they heard that the stock market had plunged, trying to keep their money safe and secure, manually. After breaking down the core issues of the Depression in his “Fireside Chat”, Roosevelt claimed, “I can assure you that it is safer to keep your money in a reopened bank than under the mattress.” This advice stuck with many after hearing their president speak so knowledgeably about the matter.
In the year 1929, the biggest economic crisis in U.S history would take the United States by storm. This economic crisis would drastically change the lives of Americans for decades after. The stock market crash in 1929 signaled the beginning of the great depression. This would result in high unemployment rates, issues with poverty, homelessness and would bring hunger to millions. It also affected farms and agricultural businesses resulting in even bigger problems later on.
The Great Depression to many people was a time of great loss. The loss of lives, jobs, and money all contribute to its horrible past. But for many others, it was a time of gain and prosperity. They looked at it in a moral way, not a financial way. Think of all the life lessons learned and put to work.
Christian Stagliola Mod: F. History 1/12/23 5.4 Essay Rough Draft The Great Depression of the 1930s was a significant economic and social crisis that greatly affected the American people and the government. Millions of Americans lost their jobs and savings and were forced to rely on charity or government aid to survive.
Firstly, the Great Depression harmed the American people by having them change their lifestyle. Since so many people lost their jobs, money was terribly scarce.
In 1929, there was a loss of over $25 billion, and a significant number of people were in debt. Due to a lack of money, payments for necessities or basic needs like food, mortgage installments, and other purchases were impossible to afford. Furthermore, widespread unemployment resulted in bank closures due to people taking all their money out of there. All of this contributed to the stock market crash, which caused the Great Depression. It lasted a decade, during which many people struggled to make purchases that would ensure their survival.
The Great Depression was one of the most devastating economic crises in the history of the United States. It began in 1929 after the stock market crashed, setting off an economic spiral. Lasting for a decade it caused widespread unemployment, poverty, and social unrest. The economic collapse had devastating effects that had impacted everyday American life, including individual families, to the national economy, and even the government. During this period of time the American people faced a range of challenges including, unemployment, homelessness, starvation, and social inequality.
The Great Depression was an American crisis, right after the Roaring 20’s, where the stock market crashed and forced many people into poverty. The Great Depression affected many people and businesses across the USA. Banks were greatly impacted by the Great Depression. They were giving away money they didn’t have, which eventually led to them taking from their customers accounts to pay people that were walking through the door.
The Great Depression The Great Depression was by far one of the worst times of America’s history, and the world’s history. The Depression affected everyone except for the politicians and the wealthy. During the depression a lot of people lost their jobs which caused the unemployment rate to sky rocket to 14% of America’s population was unemployed, and the number would stay their till World War 2, and the depression started in the 1920’s. Middle class workers were hit the hardest in the depression. Most of the middle class citizens lost their jobs.
The context of the Great Depression is World War 1 and the Roaring 20’s. When the war was ending, a new era of prosperity began to come to America. The stock market exchange started to expand because more people started to trade. The Great Depression was caused by installment plans and unemployment. During the Great Depression, unemployment rates shot up due to many losing their jobs.
The Great DepressionTopic: the great depressionQuestion: How did the great depression affect americans?Thesis statement:The great depression affected americans because it destroyed their economy. Millions of families lost theirs savings as many banks collapsed in the 1930’s. The Great Depression was the worst economic drop of all times in the industrial world1. The Great Depression began because of a stock market crash in 1929 and came to end ten years later in 1939, around 15 million americans were unemployed and about half of the American banks failed. It was one of the darkest era in the United States.
The first cause of Great Depression was bank failure. It was one of the main causes of the Great Depression. Throughout the 1930s over 9000 banks failed. In 1920s there were a lot of banks.