Great Depression Dbq

377 Words1 Page
bulb-icon

Recommended: Critically discuss the reasons for the 1929 wall street stock crash as well as the economic and social impacts of the crash in USA

Overspending by Americans in the Roaring Twenties, the increase in bank offered credit, the rise and final crash of the stock market all took part in causing the Great Depression (“The Great Depression”, n.d.). These were times the wealthy saved their money and the middle class had taken on too much debt putting them in the same place as the poverty-stricken. Proceeds in this time made by the owners of the manufactures and other profitable companies were held close at hand. Workers couldn’t keep up with the times nor were their pockets becoming larger at the larger demands were upon them; thus, most losing their jobs in the end. Disbursement of monies was hugely lopsided and President Hoover with his minimalist approach did not try to correct this. When he won his election, he had led the nation to believe the U.S. was well on its way to ending poverty altogether; however, within an instant, this dream and his words fell short. His support from the people lowered every year he was in office and finally crashed as did the stock market. …show more content…

He is one that made his own way in life. With this, he believed this was the right way for the people and the government, to achieve economic success. As separate entities not as one nation working together to make it through this (Schultz, 2014). The business owners, citizens, and government needed to be a team. Hoover did not see this, nor did he allow it. He saw this as forceful and government handouts. He wanted voluntary cooperation, one for another; however, to achieve this asking would not be enough. Laws were needed and as he could not open his eyes to this, he, in turn, failed in all aspects of this. One term I know well from my Chief, a very wise man I work for, that Hoover lacked knowledge of is that there is no I in TEAM. We, the U.S. needed and still need to be a TEAM not individual’s hopeful for oneself

Show More
Related

  • FDR Election DBQ Essay

    524 Words  | 2 Pages

    In the Roaring Twenties, people started buying household materials and stocks that they could not pay for in credit. Farmers, textile workers, and miners all got low wages. In 1929, the stock market crashed. All of these events started the Great Depression. During the beginning of the Great Depression, 9000 banks were closed, ending nine million savings accounts. This lead to the closing of eighty-six thousand businesses, a European depression, an overproduction of food, and a lowering of prices. It also led to more people going hungry, more homeless people, and much lower job wages. There was a 28% increase in the amount of homeless people from 1929 to 1933. And in the midst of the beginning of the Great Depression, President Hoover did nothing to improve the condition of the nation. In 1932, people decided that America needed a change. For the first time in twelve years, they elected a democratic president, President Franklin D. Roosevelt. Immediately he began to work on fixing the American economy. He closed all banks and began a series of laws called the New Laws. L...

    Read More

  • Review of "SInce Yesterday"

    784 Words  | 2 Pages

    He quickly moves from the panic of 1929 to the ‘30’s and how many of the popular governmental sentiments during the election were no longer so. Hoover quickly moved from a position of public acceptance and admiration to that of a scapegoat. That the Depression was his fault is not entirely true, though. Hoover did not have much of the information needed to foretell the economic situation. In the laissez-faire form of government he prescribed, there was no place for a department that would document these things for the use of the president’s office.

    Read More

  • Compare And Contrast Franklin Roosevelt And Hoover's Inaugural Address

    708 Words  | 2 Pages

    Hoover’s nation was coming out of a war and was facing an economy plummeting into an unknown Great Depression. Hoover proclaimed a need for reform of the criminal justice system, the enforcement of the Eighteenth Amendment, cooperation of government and businesses, the development of education, organization of the public health services, and maintaining the integrity of the He called for restoration with action, and promised solutions to the economic crisis, unemployment, world policy. He however, does remind the people, “We do not distrust the future of essential democracy. The people of the United States have not failed.”

    Read More

  • Down And Out In The Great Depression

    1337 Words  | 3 Pages

    During the 1920’s, America was a prosperous nation going through the “Big Boom” and loving every second of it. However, this fortune didn’t last long, because with the 1930’s came a period of serious economic recession, a period called the Great Depression. By 1933, a quarter of the nation’s workers (about 40 million) were without jobs. The weekly income rate dropped from $24.76 per week in 1929 to $16.65 per week in 1933 (McElvaine, 8). After President Hoover failed to rectify the recession situation, Franklin D. Roosevelt began his term with the hopeful New Deal. In two installments, Roosevelt hoped to relieve short term suffering with the first, and redistribution of money amongst the poor with the second. Throughout these years of the depression, many Americans spoke their minds through pen and paper. Many criticized Hoover’s policies of the early Depression and praised the Roosevelts’ efforts. Each opinion about the causes and solutions of the Great Depression are based upon economic, racial and social standing in America.

    Read More

  • JEdgar Hoover

    1452 Words  | 3 Pages

    A brief biography, as an introduction to the man will aid us in the understanding of who he was, and through this we may gain incite into the reasons for why he did the things he did. Hoover was born New Years Day 1895 in Washington D.C. the youngest of three children. He had an older brother and sister that lived and an older sister that died as a baby. His mother, Annie Hoover had the greatest influence on him as a child. She was strong willed and militaristic in her approach to raising her children and running a family. She instilled in him a strong sense of right and wrong, and taught him the work ethic for which he would live by. Hoover was a winner, during his school years and beyond. As a boy Hoover was afflicted with a speech impediment. He was so determined to overcome this handicap that he read aloud for hours a day until he no longer stuttered. Hoover was short and slight in stature but he was athletic and quite agile.

    Read More

  • Book Review - The Great Depression

    1002 Words  | 3 Pages

    The Great Depression America 1929-1941 by Robert S. McElvaine covers many topics of American history during the "Great Depression" through 1941. The topic that I have selected to compare to the text of American, Past and Present, written by Robert A. Divine, T.H. Breen, George M. Frederickson and R. Hal Williams, is Herbert Hoover, the thirty-first president of the United States and America's president during the horrible "Great Depression".

    Read More

  • Great Depression Dbq

    283 Words  | 1 Pages

    The Great Depression had a massive unemployment and accompanying hardship in 1930. Big banks and businesses had weak systems. In fact, they were margin buying, which is buying numerous stocks while most of the money was being borrowed.

    Read More

  • Comparing Presidents of the United States of America

    1815 Words  | 4 Pages

    President Herbert Hoover took office shortly before the Great Depression began, in a time in which the country was doing well. Once the Depression struck, however, the country needed help desperately. In attempt to pull the country out of the Depression, Hoover followed his beliefs in trickle-down economics and passed laws that followed this philosophy, laws the gave money to large corporations, in hopes that they would be able to hire more workers, who would get paid and who would go out and buy products, which would increase the demand for products, which would increase revenues of businesses, which could start the entire circle all over again. In theory, Hoover’s plan would have worked, however, the country was in such trouble that nothing much at that time would help it. The Depression first had to run its course for a while, before anything could be done. During the Depression, it took time for people, especially presidents of large corporations, to humble themselves to a point where they would accept aid from the government. Often, they remained the greedy people they were and didn’t use the government’s funds for ...

    Read More

  • Great Depression Dbq

    912 Words  | 2 Pages

    . An expansionary monetary policy would have created a little strong inflation. Instead, the fed protected the dollar's value and created immense deflation which helped turning a recession into a decade-long depression. Many people were rubbed out, selling businesses and losing their life savings. That's because when the stock market started falling, brokers suddenly called in their loans. People had to struggle to find enough money to pay for their margins. The subsequent depression destroyed the us economy. The index for industrial production fell by 14.7% between august 1929 to october 1929. The index fell by another 21% by december 1930 in the u.s. industrial unemployment rate rose 3.3 times in u.s. from 7.9% in 1921-29 to 26.1% in 1930-38.

    Read More

  • Great Depression Dbq

    897 Words  | 2 Pages

    A. The quotes from Henry Ford and Herbert Hoover suggest that the great depression took government and businesses by surprise. Hoover talks about how America was “nearer to the final triumph over poverty than ever before in this land”, and that they were in a good position. In reality the country was continuing to fall into a deeper hole of financial problems. Hoover also suggests that he felt he didn’t need to interfere with the situation, as the country was doing just fine. The same goes for Ford who says that there are enough jobs in the country for people who are actually willing to put in work, when in reality he is forced to fire more and more people. B. The excerpt from the song “Brother can you spare a dime” showcases the anger of the veteran during the great depression. The song describes how he “went sloggin’ through hell” during the first world war. But is not being

    Read More

  • The Great Depression

    915 Words  | 2 Pages

    October 29th, 1929 marked the beginning of the Great Depression, a depression that forever changed the United States of America. The Stock Market collapse was unavoidable considering the lavish life style of the 1920’s. Some of the ominous signs leading up to the crash was that there was a high unemployment rate, automobile sales were down, and many farms were failing. Consumerism played a key role in the Stock Market Crash of 1929 because Americans speculated on the stocks hoping they would grow in their favor. They would invest in these stocks at a low rate which gave them a false sense of wealth causing them to invest in even more stocks at the same low rate. When they purchased these stocks at this low rate they never made enough money to pay it all back, therefore contributing to the crash of 1929. Also contributing to the crash was the over production of consumer goods. When companies began to mass produce goods they did not not need as many workers so they fired them. Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst.

    Read More

  • The Great Depression

    1204 Words  | 3 Pages

    The Great Depression was a period, which seemed to go out of control. The crashing of the stock markets left most Canadians unemployed and in debt, prairie farmers suffered immensely with the inability to produce valuable crops, and the Canadian Government and World War II became influential factors in the ending of the Great Depression.

    Read More

  • Great Depression Dbq Essay

    765 Words  | 2 Pages

    Weize Tan History 7B 3/09/14. Chapter 23 1. What is the difference between a. and a. What were some of the causes of the Great Depression? What made it so severe, and why did it last so long? a.

    Read More

  • Dbq Essay On The Great Depression

    1807 Words  | 4 Pages

    The Great Depression was the biggest and longest lasting economic crisis in U.S history. The Great depression hit the united states on October 29, 1929 When the stock market crashed. During 1929, everyone was putting in mass amounts of their income into the stock market. For every ten dollars made, Four dollars was invested into the stock market, thats forty percent of the individual's income (American Experience).

    Read More

  • Hoover versus Roosevelt: The Great Depression

    520 Words  | 2 Pages

    President Herbert Hoover was the conservative republican president of America when the great depression occurred, and was given the burden of rebuilding the economy. He believed the federal government should not intervene, and instead believed that helping the needy was the obligation of private organizations and donors, whom he pressured. In addition, Hoover granted loans to big businesses, hoping that the money would “trickle down” and that more employees would be hired. Still, during...

    Read More

More about Great Depression Dbq

Open Document