Great Depression and the Stock Market
explanatory Essay
1945 words
In the 1920's, the economy of the United States dramatically increased. World War I had ended and leftover products, like steel, could now be sold to consumers. Big buisnesses, like General Motors, took over small companies, causing production to double. Inflation was non-existent and the unemployment rate was as low as it had ever been. The economy was booming, and it showed no sign of slowing down in 1929. However, the United States was about to recieve a huge shock when the stock market suddenly took a turn for the worst and crashed, leading to the Great Depression. This crash would become a major event in U.S. history due to the disastrous effects that followed it. In 1923, Calvin Coolidge became president of the United States. He was very buisness-oriented and helped push along the prosperity of the 1920's. In 1928, Herbert Hoover, Coolidge's secretary of commerce, took over as president. Not only was he also pro-buisness, but he was also interested in public service. For example, he helped Europe get back on their feet after World War I. His compassion for the poor and economic knowledge caused him to be declared the best qualified president of the 1920's. Not everyone prospered in the 1920's though. The average pay for workers in 1929 was 60 cents per hour, the same as it had been at the beginning of the decade. World War I had improved radio technology and led to the use of the radio for advertising. Buisness owners also kept iterest rates low so that consumers would use credit to buy expensive products. These factors resulted in any profit from the economic boom towards the working class to be spent right away. Many banks closed because too many people were taking out loans and milli... ... middle of paper ... ...elp Germany still and Germany's economy, still rebuilding from World War I, suffered greatly. Because of resentment towards their economic struggles, German people started joining the Nazis. Followers of the Nazis doubled every six months after the stock market crash. As you can see, the stock market crash of 1929 was a very important event in the United States history. It caused the nation to go from the "Roaring Twenties" to the Great Depression. In a matter of days, millions of investors lost all of their savings and couldn't pay back the loans that they had took out of the banks to pay for stocks. Overproduction by buisnesses caused a decline in the economy and taking back the loans to other countries had angered our foreign neighbors. Black Tuesday caused us to go from a prospering society to a struggling one that would never be the same.
In this essay, the author
- Explains that in the 1920's, the economy of the united states dramatically increased. world war i had ended and leftover products, like steel, could now be sold to consumers.
- Explains that the economy was booming and it showed no sign of slowing down in 1929, but the stock market suddenly took a turn for the worst and crashed, leading to the great depression.
- Explains that herbert hoover, coolidge's secretary of commerce, took over as president in 1928. his compassion for the poor and economic knowledge led him to be declared the best qualified president of the 1920s.
- Explains that william c. (billy) durant was a buisnessman born in boston in 1861, who took over the carriage making company in flint, michigan. he later added three more motor companies to it, creating general motors.
- Explains the idea behind the stock market: money is needed to buy items like machines and builings, called capital. corporations pay the capital by selling stocks, or parts of their company, to investors.
- Explains that 1929 was a good year for the economy, but there were warning signs that the stock market was going to crash. when the demand for products declined, the stocks that investors had bought declined in value.
- Explains that the united states loaned billions of dollars to europe after world war i to help rebuild their economy, but investors took back their loans to invest in stocks instead.
- Explains that the federal reserve tried several times to reduce speculation in the stock market, but the public ignored their warnings and criticized them for intervening.
- Explains that the stock market reached its peak prices on september 3rd, but didn't rise again and a worried wall street raised the interest rates. at the beginning of october, the market dropped again.
- Describes how investors were forced to sell their stocks to pay off their loans. the new york stock exchange didn't open until ten'o'clock in the morning and the halls were packed with speculators.
- Narrates how the new york stock exchange went on a chaotic selling spree on monday, despite hoover's attempts to stop the panic.
- Explains how the stock market never sprang back up after the horrific tuesday crash. millions of investrors went bankrupt, including will durant.
- Concludes that overproduction before the crash had decreased the value of products and many workers weren't needed anymore for production. the stock market crash left families with no income and poverty spread through america.
- Narrates how president hoover was blamed for the stock market crash in a day. roosevelt easily won because the republicans were now
- Explains that the stock market crash of 1929 was a factor leading to world war ii. german investors pulled their loans out of to buy stocks in the market.
- Explains that the stock market crash of 1929 was a very important event in the united states history. it caused the nation to go from the "roaring twenties" to the great depression.
Related
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- The Great Depression in Americaexplanatory essayThere were many primary causes for The Great Depression, Unequal distribution of money to the economy,
In this essay, the author
- Describes the causes of the great depression, including unequal distribution of money to the economy, stock market speculation, and many more.
- Explains that the u.s. economy was booming in the 1920's and uneven prosperity made recovery difficult.
- Explains that the stock market boom was unsteady, because it was mostly borrowed money and false optimism.
- Explains that the great depression caused many people to close businesses and led the government to regulate the business and economic affairs. bank failures cleaned out some depositors savings.
- Explains that inventions like automobiles and color television spur business investments and consumer spending, resulting in contraction. the expanded role of the federal government came to be accepted by most americans by the 1930's.
- Explains that the 1920's economic slump was caused by unequal distributions of wealth and stock market speculation. the benefits of the 'coolidge prosperity' were not evenly shared among all americans.
- Explains that the u.s. economy was reliant on credit sales and luxury spending and investment from the rich to stay afloat during the 1920's.
- Explains how roosevelt's modest deficit spending led to astonishing growth numbers. roosevelt eased back, but the economy slipped back into a recession.
- Explains that herbert hoover was the last in a line of republican presidents who firmly believed in and adhered to the principle of small government.
- Explains hoover's advocacy for the smoot-hawley tariff in 1930. the grain stabilization corporation bought wheat at high prices at the market to drive supply down and prices up.
- Argues that hoover was not successful in combating the depression. he remained committed to a conservative, small government political posture, despite criticism and political setbacks.
- Explains that the experience of american citizens during hoover's term left them wanting something new from the government. they demanded an intelligent and effective governmental intervention to revive the flailing economy.
2944 wordsRead More - The Great Depression in Americaexplanatory essayThe 1920’s in America The 1920’s was a very prosperous period for many Americans. Food production increased 64 percent, worker productivity increased by 40 percent, electricity sales doubled, fuel consumption more than doubled, and pay was increased for many industrial workers (Davidson, 2008). With the soaring economy and new items hitting the shelves all the time, American consumers were living the high life. Even if you wanted something and did not have the money you could simply get it on credit and pay for it later.
In this essay, the author
- Explains that the 1920's was a prosperous period for many americans, with food production increasing 64 percent, worker productivity increasing by 40%, electricity sales increasing, fuel consumption more than doubled, and pay increased.
- Explains how the federal reserve system raised interest rates in an effort to slow market speculation, which led to a reduction of spending. millions invested small and lager sums of money into stock, causing the stock market to crash.
- Explains that president hoover was optimistic about the stock market and the unstable economy. he signed the smoot-hawley bill to raise tariffs on farm and non-farm products to reduce foreign competition.
- Explains that roosevelt and congress worked for 100 days to come up with ideas and passed many new laws to hopefully stimulate economic recovery.
- Explains that the civilian conservation corps (ccc) program was an effort to create new job opportunities for young men.
- Explains how the agricultural adjustment act of 1933 helped increase farm income by over fifty percent between 1932 and 1935. poor agricultural practices and years of sustained drought caused the dust bowl.
- Explains that roosevelt's new deal was a more aggressive approach to the economy and earned respect and appreciation from labors, farmers, immigrants, and urban ethnic groups.
- Explains that while many programs and policies formed during the great depression helped to alleviate some of the major strains on the economy, nothing brought the united states out of depression until world war ii began.
- Opines that the great depression bought many changes and a new awareness to americans. roosevelt showed powerful leadership and eased the suffering of millions of lives.
- Cites arnesen, e. (may/june, 2010). stock market crash. cobblestone. retrieved june 19, 2011 from proquest database.
- Explains that davidson, j. w., and delay, b. (2008), nation of nations: a narrative history of the american republic.
- Cites mitchener, k. j. (june 19, 2011). great depression. world book web. retrieved june 19, 2011.
- Cites nelson, c. (unknown). the great depression. modern american poetry. retrieved june 19, 2011.
- Explains that roaring twenties. retrieved june 20, 2011 from world book advanced.
- Cites rung, m. c. (june 19, 2011). new deal. world book web.
- Cites walch, t. (june 19, 2011). hoover, herbert clark. world book web.
1872 wordsRead More - The Great Depressionexplanatory essayThe 1920’s, also known as the Roaring Twenties, were fantastic times for the economy. People were buying extravagant things such as automobiles, and investing in the stock market in order to make big money. Many of the new, expensive things that people purchased were bought on credit. People even bought stocks “on margin,” which means with borrowed money. All this extravagance would soon disappear and everything people bought on credit or margin would soon come back to haunt them.
In this essay, the author
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- Explains that the great depression was the deepest and longest-lasting economic downturn in the western industrialized world.
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- Explains smiley, gene, and nelson, cary. "about the great depression." modern american poetry.
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In this essay, the author
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- Explains that japan suffered significant losses in world war ii, including the naval war in pacific and the battle of coral sea 1942.
- Explains that america's involvement in world war ii did not begin with the attack on pearl harbor. the stock market crashed in 1929, awed the country used to the excesses of the 1920s.
- Argues that herbert hoover was a do-nothing president who allowed the country to slide into its worst depression.
- Explains that during hoover's presidential term, immigration doubled between 1890 and 1930, due to immigrants from southern and eastern europe.
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- Opines that the rainbow 5 strategy was being planned as fdr was conducting his fireside chats endearing the american people to him.
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2431 wordsRead More - Fsa Photography During the Great Depressionanalytical essayThe 1920s were a time of leisure and carelessness. The Great War had ended in 1918 and everyone was eager to return to some semblance of normalcy. The end of the war and the horrors and atrocities that it resulted in now faced millions of people. Easily obtainable credit and rapidly rising stock prices prompted many to invest, resulting in big payoffs and newfound wealth for many. However, overproduction and inflated stock prices increased by corrupt industrialists culminat...
In this essay, the author
- Recounts how they were amused by a family photo taken on memorial day. they begged their mother to let them join them at the pool, but she refused.
- Explains that the 1920s were a time of leisure and carelessness. the great war ended in 1918 and everyone was eager to return to some semblance of normalcy.
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In this essay, the author
- Explains that the 1920s were the most influential decade on contemporary because of the contribution in transportation technology, the advantage of credit, and the change in women's freedom.
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In this essay, the author
- Explains that the jazz age was one of the many highlights of 1920's before the stock market crash that triggered the great depression in 1929.
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In this essay, the author
- Analyzes how f. scott fitzgerald's "babylon revisited" tells the story of a man who has made many mistakes in his life and is living with these regrets.
- Explains that the 1920s were a time of leisure and carelessness. the great war ended in 1918 and everyone was eager to return to some semblance of normalcy.
- Analyzes how fitzgerald uses these troubled times as a background for his story in "babylon revisited." his rise from mediocrity to wealth and leisure and his tragic fall appealed to the broken and world-weary masses subjugated by the demoralizing affects of the depression.
- Analyzes how fitzgerald never relates charlie's circumstances outright. it is inferred through his present situation and his interaction with those around him.
- Analyzes how charlie's past haunts him as he is unable to help those around him differentiate between his past and his present self. his old friends try unsuccessfully to entice him back into their world not seeing the change that circumstance has brought.
406 wordsRead More - Roosevelt's Legacyanalytical essaymany problems faced by the nation during his time and set standards by which we still follow
In this essay, the author
- Explains that roosevelt's first major act as president, he focused on the separation of the two.
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- States that the u.s. had the right to intervene in the southern hemisphere.
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1160 wordsRead More - Great Depressionanalytical essayDuring the 1920’s America was experiencing great economic growth. As WWI was ending Americans were out of energy. For almost 100 years they had been facing the problems of sectionalism, civil war, reconstruction, imperialism, and WWI. By the end they were ready to just sit back and party. Demand sky-rocketed and brought great economic growth. Americans failed to see the great problem looming overhead though. The Great Depression was caused by a combination of factors- a natural slowdown of the business cycle, weaknesses of the 1290’s economy magnified the slowdown, the republican response failed to help, a great environmental disaster, and the collapse of the world economy all contributed to the cause of the Great Depression.
In this essay, the author
- Explains that the 1920's economy had a number of problems which magnified the slowdown of the economy in 1929.
- Analyzes how the republicans' failure to respond effectively was limited by their beliefs in laisse-faire. they passed the volunteerism act, the hawley-smoot act and the reconstruction finance corporation.
- Explains that the great depression was caused by a combination of factors, such as the natural slowdown of the business cycle and the 1290’s economy.
- Explains how the 1930s environmental disaster caused the great depression. the world economy was on a steady decline throughout the 1920s until it finally collapsed.
1172 wordsRead More