Great Depression

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The Great Depression of the 1930s was caused by a stock market crash in 1929 and subsequent bank failures and business closures that led to mass unemployment across the United States. Rural areas were especially hard hit, with families losing their farms and homes during the Dust Bowl droughts and dust storms that ravaged the plains. Millions were left homeless and unemployed, living in shanty towns, while minorities faced discrimination with African Americans and Mexican Americans disproportionately impacted.

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1Q) which were the main causes of great depression From the b.docx

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1Q) which were the main causes of great depression? From the book of history economy I have learnt about the economic situations in America and among them the most devastating was Great Depression. In the year March 1930 when Herbert Hoover was president when the Great Depression started. The main problem was to the farmers who suffered the heavy prices and indebtedness. There was a decline in the economic activity. There was also the crash in stock market, banking crisis also existed and also smooth Hawley tariff came into existence. He proclaimed in that the U.S. Had "passed the most noticeably awful" and contended that the economy would get itself straightened out. The most noticeably bad had started and it endured till the flare-up of World War II in 1939.There are a few reasons for the Great Depression which are generally bantered about. There was no single reason, however a few things conflicted with to get it going. Few noteworthy reasons were a feeble saving money framework because of Federal Reserve Monetary Policy, over creation of merchandise in industry and agribusiness, over spending and blasting credit gurgled, unequal circulation of riches, high duties and war obligations. Political changes 1928 Presidential decisions, Stock Market accident and money related frenzy. It was noted that The Wall Street Crashed in 1929 was the most devastating crash in the history of the United States. On October 1929 is called “Black Tuesday.” the stock market lost $14 billion, making the loss for that week an astounding $30 billion. It took 23 years for the stock market to hit the high it was at before the crash. It was also published in New York times about the new of stock market crashing.The news of stock market crash spread like a wild fire cause panic, customers rushed to banks for withdrawing money causing disastrous “bank runs”. Many wealth people lost their total wealth and committed suicide. Many companies were shut down and lot of people lost their jobs. It was noted at the peak of depression 1 out of every 4 people were jobless. Between 1930 and 1935 nearly 750,000 farms were lost through bankruptcy or sheriff sales. People who lost their homes often lived in what were called “Hoovervilles” or shanty towns that were named after President Herbert Hoover. There was also “Hoover Stew” which was the name for food handed out to the poor at soup kitchens. “Hoover Blankets” were the newspapers that were being used to cover people like a blanket. “Hoover Hogs” were jack rabbits that were used for food, and “Hoover Wagons” were broken down cars that were pulled by mules. People who became homeless would ride on railroad cars, because they didn’t had money to travel. It is believed that more than 50,000 people were injured or killed while jumping trains. They traveled together and were called “Hobos”. The living conditions at that time in United States of America were miserable there was not enough food, shelter or medical care. Many suffe ...

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