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The Economic Disaster in 1929

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The Great Depression represented the most horrific economic downfall the United States has ever experienced. The Depression lasted around 11 years, from 1929 to 1940s. Millions of people were effected from this disaster that couldn't be controlled by only one man. As a result, it has become one of the worst points in American history.

One of the major causes of the Great Depression was the stock market crash in October of 1929. Every day Americans were buying into the stock market. Some winning big and others not so much. "Nearly thirty million people were associated with the stock market in some way" (The Great Depression, History). That number kept on rising and rising everyday. The way the market worked was simple. An investor would buy stock of a company and as the company made a profit, their stock price grew. If the company began to lose money, then the price dropped. The goal of the market was to buy low and then sell high. It was almost like playing a game. People were wishing for good luck of the company. However, when the stock market crashed, it left a lot of these people who were playing the "game" in deep trouble. The stock market crash wiped out all of these investors that were involved in the stock market. This day came to be known as Black Thursday. Five days later, a day that is known as Black Tuesday, stock prices dropped to the lowest they have ever been yet. "The stock market lost around ten billion dollars" (The Great Depression, History). The stock market crash was a major problem but it linked to more problems that were to happen. For example, the stock market crash also had a major effect on the banks.

"The bank had loaned approximately six billion dollars that went into the stock market" (The Great...

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...home, livestock, and even other people. Farmers had to leave the area to find somewhere else. The government tried to provide relief to all farmers affected by the Dust Bowl and Depression. This worked for a short time but quickly was just another failure in relief efforts. The farmers took a major hit from The Great Depression.

The Great Depression was one of the most horrific downfalls the United States has ever experienced. The stock market crash was a key moment in triggering the Great Depression. Because of the Depression, it left millions of people unemployed through the years. President Hoover attempted to help but failed miserably and as a result wasn't reelected. The Farmers took a major hit from people not being able to buy their crops, to the blow of the Dust Bowl. The Great Depression will be known as the worst economic downfall in American history.
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