The Great Depression : A Period Of First Time Decline Essay

The Great Depression : A Period Of First Time Decline Essay

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The Great Depression was a period of first-time decline in economic movement. It occurred between the years 1929 and 1939. It was the worst and longest economic breakdown in history. The Wall Street stock market crash started the Great Depression; it had terrible effects on the country (United States of America). When the stock market started failing many factories closed production of all types of good. Businesses and banks started closing down and farmers fell into bankruptcy. Many people lost everything, their jobs, their savings, and homes. More than thirteen million people were unemployed.
The Great Depression caused major political changes. Three years after the great depression started, Herbert Hoover lost the 1932 presidential election to Franklin Delano Roosevelt. Franklin Roosevelt economic recovery plan, the New Deal, started exceptional programs for relief, recovery, and reform and brought major readjustment of American politics. The Depression also caused an increase of emigration of people to other countries for the first time. Some native US citizens went to Canada, Australia, and South Africa and some immigrants went back to their native countries.

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One of the causes from the Great Depression was the stock market crash that occurred on Black Tuesday, October of 1929. Two months after the stock market crash, stockholders lost more than fourteen million dollars; it dropped more than 40%. It continued to decrease; it went down to nearly 90% from its 1929 highs. Before the crash the 1920s were known for the roaring twenties, parties, extravagant outfits, and the music. It was the decade where people were known to spend money, they were not afraid of spending it. But when banks started to crash that is whe...

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.... Progressives tried to counter these trends through federal action. But conservatives supposed these as symptomatic of the unnecessary growth of government during the previous two decades. This transition from Progressivism to conservatives was one of the leading dynamics of the 1920s. Even though the middle and late 1920s saw a resurrection of conservative thought, Progressive ideas about reform would carry on into the early 1920s. The political climate continued its meaning away from the tolerance of the progressives towards more conservatives views concerning the appropriate role of government.
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All in all, the Great depression lasted from 1929 to 1939. The stock market crashed I other words “Black Tuesday”. It was the longest crisis in history. Many people were affected by it. Banks were closed, people were unemployed and many people lost their homes.

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