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The Great Depression

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The Great Depression - Page Text Content

FC: The Great Depression

2: The Great Depression was caused by a wide range of issues, not just by the stock market crash. Besides the billions of | dollars that just disappeared in a day, the failure of banks, and the rising unemployment rates, a global depression was growing due to Europe's many war debts. World trade was rapidly declining, with foreign countries buying less and less American goods. Making matters worse, the US

3: government stupidly continued to pass taxes on imported goods. The huge gap in incomes and the resulting consumer debt were also major contributors to the Depression.

5: The Great Depression lasted for a total of 9 years, from 1930 to 1939.

6: Life during the Great Depression was just that: depressing. Unemployment rates were higher than ever, and as a result, people were impoverished. In cities, people would fight over garbage and stand in breadlines to eat, many were homeless, and those who did have homes often lived in shantytowns, or collections of makeshift shelters. Because city dwellers had no money with which to buy food, farmers also suffered.

7: Ironically, they had to let crops rot in the fields because they couldn't sell it, while those in the cities starved. Without any income, farmers couldn't pay their mortgages and banks foreclosed the farms. Family dynamics changed with many woman still working (because they could be paid less) and men taking care of the children. Most families banded together, but some broke apart from the strain.

8: The Depression affected pretty much everyone from farmers to business men, women, children, people in cities, people in the country, blacks, and whites. Everyone was affected because there just weren't jobs to be had, so everyone lost money.

9: Some groups were more affected than others, like African Americans who were the first to loose their jobs at failing businesses. Also, the rest of the world was affected by America's depression, and the global depression in turn fueled America's economic fall.

10: In 1932, F.D. Roosevelt became president with many ideas on how to end the Depression. Within 100 days of | being in office, his New Deal plan had been signed, which created 42 agencies dedicated | to creating jobs, made unions legal, and provided unemploy-ment insurance. While all of these

11: things helped to prop America's economy up, they unfortunately weren't enough to entirely end the crisis. It wasn't until the outbreak of WWII, when many defense related jobs were created, that the Depression truly came to an end.

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  • By: Kathryn G.
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  • Title: The Great Depression
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  • Published: over 9 years ago