October 29,1929 was the day when my world got turned upside down. It was dubbed Black Tuesday because that was the day the Stock Market crashed where many people and corporations frantically tried to sell their stocks before the prices fell to the lowest they've been in years. (pg.485)
My husband, our two children and I lived in Chicago during the Great Depression. Our economy has severely declined putting millions of men and women out of jobs including my husband. (486) Before the depression his income would total up to several thousand dollars a year but now we are lucky if we even get a quarter of that. The Red Cross has set up soup kitchens and bread lines for the poor. (pg. 491) My husband has spent many hours waiting in lines to receive fresh bread for the family. I refuse to stand there on the streets begging for food, I have to much pride and will not be seen stooping to such levels of the poor.
The few food that we do have left over before the depression is canned and saved in the icebox for winter. I used to be able to go out and pay for new clothes for my children but once again that pleasure is stripped from me as I now sit hours a day sewing from scratch. Because material is so hard to come by at a cheap price, I try and gather as many scraps of old or used material as I can so I may sew them together to create a quilt for the family to use at night.
With all of these domestic duties to complete at home its hard to find time to look for one of the scarce jobs available. (pg. 493) Although I would receive less money then the men, it would still provide more income to the house budget. Additionally, the odds of a married woman securing a job are slim. Many people believe that married women have no right to work when there are plenty of single men out of their jobs and suffering.
Plebeians assume that I have the easier side of the dilemma because they don?t see me standing in the cold asking for food, but the thing is, I?m doing as much if not more than they are! Not only am I budgeting the household income, I?
After nearly a decade of optimism and prosperity, the United States took a turn for the worse on October 29, 1929 the day the stock market crashed, better known as Black Tuesday and the official beginning of the Great Depression. The downfall of the economy during the presidency of Herbert Hoover led to much comparison when his successor, Franklin D. Roosevelt, took office. Although both presidents had their share of negative feedback, it is evident that Hoover’s inaction towards the crises and Roosevelt’s later eccentric methods to simulate the economy would place FDR in the positive limelight of fixing the nation in one of its worst times.
On “Black Tuesday” stock prices dropped completely. After “Black Tuesday” stock prices couldn’t get any worse or so they thought, but however prices continued to drop, the U.S. fell into the Great Depression, and by 1932 stocks were only worth about 20 percent of their value.
During The Great Depression, many individuals were had lost their fortunes and property due to the crash in the stock market. Many could not even merely afford to buy anything but necessities such as food. Luckily, Boy Staunton was unaffe...
Great Depression “No one can possibly have lived through the Great Depression without being scarred by it. No amount of experience since the depression can convince someone who has lived through it that the world is safe economically.” was once stated by Isaac Asimov. The Great Depression was one of the most horrific and troubling times in American history. Many homes were affected by this tragedy and many families were injured as a result of it. Man had the opportunity to prove himself by both continuing and struggling with his family leaving them.
Food shopping when you are poor in America doesn't mean taking the minivan out to Costco; it can mean walking to the only "supermarket" in the neighborhood, often a small corner retail operation with high markups on food and household supplies.With so many people in poverty it is questioned if giving the poverty aid is even a solution as stated by David Cheal in his book New Poverty: Families in Postmodern Society, “Throwing money at social problems is no longer
Great Depression was one of the most severe economic situation the world had ever seen. It all started during late 1929 and lasted till 1939. Although, the origin of depression was United Sattes but with US Economy being highly correlated with global economy, the ill efffects were seen in the whole world with high unemployment, low production and deflation. Overall it was the most severe depression ever faced by western industrialized world. Stock Market Crashes, Bank Failures and a lot more, left the governments ineffective and this lead the global economy to what we call today- ‘’Great Depression’’.(Rockoff). As for the cause and what lead to Great Depression, the issue is still in debate among eminent economists, but the crux provides evidence that the worst ever depression ever expereinced by Global Economy stemed from multiple causes which are as follows:
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.
The Fall of 1929 the United States’ stock market crashed in what today is known as Black Tuesday. Its effects did not discriminate. It impacted both the rich and the poor, young and the old, educated and uneducated. It was a time of great economic stress on every area of life. Industrial prices rose out of the reach of the average consumer, and crop prices drastically plummeted. It was a time when many roles within families and the government were changed. The Great Depression greatly impacted religion, work environment, and the family structure within the home. However, many forget that these impacts still exist in today’s society and continue to impact our homes.
However, in 1929 when stocks had soared to an all-time high, in September they plummeted. This day in history is known as Black Thursday and is remembered as the Wall Street Crash of 29. The crash hit people's interests hard. and Americans all over lost a lot of money. Banks had to spend all of the money they had on regaining the economy, and agricultural needs.
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.
Many families had gone through Soup Kitchens or Bread Lines since they have a lack of food. Most Soup Kitchens serve mostly bread and soup. The meal help provide around 3,000 hungry people every day for breakfast. Most of these were set up at churches or service places, since most states had received a fund of $4 million from President Hoover. Bread Lines is another way of giving away food to the people in need. Many people were accepting free handout of food and other types of food. Not only adults are in need of needs, but children are too. Nearly 50% of children are having a lack of food, clothing, shelter, education and medical care. In which, many adults just give up their food for their children since they needed the most. Many diseases and illness were caused during this time of period; like Rickets, Influenza, Pneumonia, Tuberculosis, Diphtheria, Skin Diseases, and Diarrhea (The Great Depression
Devastation and desperation started on Thursday, October 24, 1929. There was a strong sense of panic in the air at the Stock Exchange. The stocks were dropping, alarmingly fast; the worried American tried desperately to keep their savings. Markets began to steady again on Friday and Saturday only to sweep back down the following Monday. By Tuesday the twenty-ninth all doubt was erased, many Americans lost everything they had on Black Tuesday (Andrist and Stillman 190). President Herbert Hoover made a decision and refused to provide emergency relief. Hoover believed that it was “strictly a state and local responsibility.” Most local organizations were far too small to handle this big of a situation (Andrist and Stillman 193). America needed a change, a change that would come at the next election time.
The black Tuesday, October 29th, 1929 has been identified as the symbol of the Great Depression. Stock holders lost 14 billion dollars on a single day trade, and more than 30 billion lose in that week, which was 10 times more than the annual budget of the Federal government.[ [documentary] 1929 Wall Street Stock Market Crash
On Tuesday, October 29th, 1929, the crash began. (1929…) Within the first few hours, the price fell so far as to wipe out all gains that had been made the entire previous year. (1929…) This day the Dow Jones Average would close at 230. (1929…) Between October 29th, and November 13 over 30 billion dollars disappeared from the American economy. (1929…) It took nearly 25 years for many of the stocks to recover. (1929…)
In American society, the woman has always been viewed in the traditional viewpoint of what role she should play in the home; that she is the homemaker or caretaker. Even when women break from the stereotypical role of "housewife" and join the workforce, they still are not given an equal opportunity at acquiring a job that is seen to be as advancing or of higher recognition, as they would like to have. Men usually already take those positions.