The Black Tuesday Essay

The Black Tuesday Essay

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October 29, 1929 was a dark day that made the textbooks as 16,410,030 shares of stocks were sold in swarms, consequently beginning the Great Depression. This day will forever be known as “Black Tuesday”, when the stock market went from an upbeat roaring to a screeching halt. The Nation’s economy diminished, banks failed, and people everywhere suffered from scarcity and insufficiency of resources and job opportunity. Which left more than 10 million unemployed workers and their families submerged into the pit of poverty (American Heritage Center). A response of some people, usually teenagers was to “ride the rails” in order to survive during the lack of basic necessity. Later on, the people were in a foul disposition as the presidential campaign of 1932 approached. By 1933 President Franklin Delano Roosevelt took office and immediately sought to stabilize the economy. With his first act declaring a nationwide banking holiday, Roosevelt took his first steps toward what is known as the three “R’s”; relief, recovery, and reform. Organized within the first 100 days in office the three “R’s” became known as Roosevelt’s New Deal (Kennedy).
As desperate times called for desperate measures Roosevelt’s attempts to tie up all loose ends consisted of set federal programs which stabilized banks, created job opportunity for the oppressed, and built up cities by creating highways, schools, hospitals, post offices, and much more (Kennedy). One of his first moves in this was the Emergency Banking Act in 1933, which ensured that the federal government covered the public’s deposits in their bank’s against the losses due to the panic of the public (American Heritage Center). This as can be imagined set well with those who were in a current state of ...

... middle of paper ...

...the country eventually triumphed over the distraught that filled lives by the success of their leader and cooperation of the people that had not come easily.

Works Cited
American Heritage Center "Franklin D. Roosevelt -New Deal." Franklin D. Roosevelt . N.p., n.d. Web. 15 Mar. 2014.
Beattie, Andrew. "What Caused The Great Depression?" Investopedia. N.p., 26 Feb. 2009. Web. 13 Mar. 2014.
Ganzel, Bill. "Riding the Rails during the Great Depression." Riding the Rails during the Great Depression. Ganzel Group, 2003. Web. 19 Mar. 2014.
Kennedy, David M., Lizabeth Cohen, and Thomas Andrew Bailey. The American Pageant: A History of the American People. Boston, MA: Wadsworth Cengage Learning, 2010. Print.
Kingsbury, Alex. "Sealed the Deal." US News. U.S.News & World Report, 15 Jan. 2008. Web. 17 Mar. 2014.
Riding the rails. South Burlington, VT : WGBH Boston Video, c1997.

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