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The Great Depression. By Hayley Acker

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FC: The Great Depression | By: Hayley Acker

1: The Great Depression was a monumental time in our country's history.The people that lived through it were changed forever. | The Great Depression started for numerous reasons but one of the main reasons was when the stock market failed in 1929. The stock fell 40% and caused over 9,000 banks to go out of business, but this was just the beginning of a long and demanding journey for American citizens.

2: When the stock market failed not only where the owners of the banks affected but also everyone that had money in the bank as well. Over nine million savings accounts were wiped out and 8,600 businesses failed. Wages also decreased by 60% and unemployment went from nine percent to twenty- five percent which is roughly fifteen million jobless people the United States at the time.

3: However, there were many other reasons to why the Great depression occurred. In the years leading up to the depression there was unequal distribution of wealth, high tariffs and war debts, over production in industry and agriculture, and financial panic.

4: The Great Depression affected both young and old of every economic class. Although some individuals may have suffered more than others the Great Depression affected everyone in some way. | Since women were mainly house wives they did not loose their job in fact it became more important than ever. Women often bartered or traded services for goods that would usually be purchased. They worked hard to reinvent ways to do chores to save money and other resources. For example they would buy old bread to save money and warm up meals in the oven to save gas. Basically they lived one day at a time and prayed that no catastrophes would come upon them or their families such as illness or accidents.

5: Men on the other hand that became unemployed had too much time on their hands and didn't know what to do with themselves outside of their work routine. Most men thought of themselves as failures and worried about providing for their families. A lot of men during the depression would be seen wandering around in the streets or looking for jobs.

6: Almost twenty percent of children in America at the time of the depression were suffering from hunger and did not have the proper clothing. | Education for the youth of America also came to halt when many of the schools closed. There were approximately three million children ages seven to seventeen that had to leave school. | Widespread hunger and poverty did not just affect the adults, but the children also had to go through the same struggles that their parents were going through.

7: So many families lost their homes during the depression and then had to live on the streets. They made shelters out of anything they could find such as tents, sheds, and cars. They called their communities "Hoovervilles".

8: Officially the Great Depression lasted ten years with the start of the crash of the stock market in 1929. However, the years preceding the stock market crash also had an impact on the Great Depression. Although President Hoover claimed this economic crisis would only last sixty days it unfortunately did not start to turn around until Franklin D. Roosevelt was elected into office in the early thirties. Several of his polices including the New Deal helped lessen the severity of the depression, but the country did not fully start to recover until the start of World War two in 1939.

9: President Roosevelt's New Deal insured banking deposits which increased consumer's confidence, prompted citizen to put their money back into the banks, and soon the amount of deposits outnumbered the amount of withdrawals.

10: With the start of World War Two in 1939 the United States industry started manufacturing goods, weapons, and ammunition. This put millions back to work across the country and helped jump start the economy. Thus, pulling The United States out of the Great Depression.

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  • By: Hayley A.
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  • Title: The Great Depression. By Hayley Acker
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  • Published: almost 6 years ago