The Great Depression Was A Hard Time For The People

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The Great Depression was a very hard time for the people in the United States. There were several events that led to this difficult time in the world. Stock market problems, industrial businesses declining, banks collapse and international economic are some of the things that led to the Great Depression. October 24, 1929, Black Thursday occurred at the stock market. This was the day the stock market crashed. Prices plunged so fast that over ten billion dollars were wiped out in one day. Many of the stocks hit record lows. Sellers looked for buyers to sell stocks to but there were none. Just a few days later, Black Tuesday occurred. Stock prices plummeted once again. While this was not the only cause of the Great Depression, it is one of the biggest causes. Agriculture had started going downhill for more than a decade. Farm prices had hit an all-time low. Many farmers were in debt so bad that they had to have their land auctioned off to pay it. Mining and textiles could not make profits. Automotive and household good industries had been sluggish for quite a while. Declining demand in different industries helped cause the economic weakness. No new housing meant, no need for building supplies, which led to unemployment. As wages fell, families could not afford to buy the consumer goods they needed. Risky loaning practices to business unable to pay back debts, caused many banks and investment companies to collapse. Some banks didn’t even have enough money to cover customer deposits. This caused more weakness to the economy. International economic conditions also brought on the Great Depression. During World War I, Americans loaned billions to European nations (Norton, 2015). When America call... ... middle of paper ... ... in front of the Lincoln Memorial. Finally, African-American people had the support of the white people, hundreds of thousands of them. This is where Dr. Martin Luther King gave his famous I Have a Dream speech. This showed the government they needed to support the civil rights movement. Civil Rights Act of 1964 was created after many years of the civil rights movements. This bill finally ended legal discrimination on the basis of race, color, religion, or national origin in employment, federal programs, voting, and public accommodation (Norton, 2015). It ended segregation in schools and other places. The Voting Rights Act of 1965, was also part of the anti-discrimination legislation. It finally gave everyone the right to vote. The Voting Rights Act is often said to be the single most effective legislation passed by Congress.

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