The Great Depression was a severe period of poverty and tragedy. It effected many other countries not just America; especially in Europe, where many countries had not fully recovered from the aftermath of World War I. The cost of World War I weakened the ability of the world to respond to a major crisis. America alone had ten billon dollars of debt from the war. In Germany America’s economic failure contributed to the rise of Adolf Hiltler, so the Stock Market Crash had a domino effect on our country and others.
The Tariff placed high taxes on imports leading to a decline in international trade. The United States held many loans with European countries that began to default. Reduction in international market spending in the US, coupled with the high tariffs placed on foreign countries led to unemployment abroad and foreign countries were forced to impose their own tariffs on other countries (Kelly, n.d.). The Great Depression was perhaps most devastating to the individual and family. The Depression was recorded to have decreased the marriage rate which helped lead to a decline in the birth rate.
Be sure to discuss various programs and the long term effect of the New Deal on the U.S. The Great Depression was one of the worst periods of economic collapse in the history of the United States. It affected nearly everyone, and many people lost everything. The nation of America was in disarray. In 1932 Franklin D. Roosevelt won the presidency in a landslide victory over Herbert Hoover (President at that time).
The 1920′s could be described as economic boom gone bust. The early 1900′s began with an advancing industrial revolution and ended with the Stock Market Crash of 1929, which is one reason it is known as an era of contrast. The trigger that caused the great depression began with the boom in sales of stocks in a bull market. Credit was developed and debt was created. Stock prices hit rock bottom and wild selling left banks with little in reserves to stabilize.
The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess. However Major did have some success, he abolished poll tax, which was very popular among the public, he increased spending on the NHS and introduced transport subsides to keep travel fares low.
The depression made people bankrupt and lose their jobs; Hitler and the Nazis promised people that they would get them jobs and solve unemployment. By 1930, the number of people unemployed was at 3,217,000 and the Nazis votes had gone up by 18.3%. Another reason why people would agree was that the ‘Wall Street Crash’ not only caused unemployment but also caused farmers to get evicted, have bad harvests, and
True, during the time of the war, and for about ten years post-war, the US economy soared to all time highs. But shortly after, when the costs of the war had kicked in and the debts came rolling in, what followed was the greatest depression America had ever faced. People lived in “Hoovervilles”, thirteen million people became unemployed, the income of an average American family decreased by 40%, there was more emigration than immigration, racial tensions ran high, etc. These are just some of the consequences of the Great Depression, part of which was caused by the debt of a war that America could have avoided, thus avoiding such a hard blow by the Depression. Had America stayed out of the war, the economy might have not been affected as seriously as it was by the Great
The Great Depression changed and effected Americans and the economy. Millions of Americans lost their jobs and homes. The economy went though a lot of failure of meeting financial obligation in banking and in trading. Because of this Europe and many other nations were set back from many of our abilities to help with their broken economies as well.The unemployment in the Depression was very scary. The Depression started with the market crash of 1929.
It brought devastation to the United States’ economy, as well as actual “depression” to the American public. Various issues caused the fall of the most prosperous country in the world such as, the accumulation of installment loans and lack of government agencies regulating the stock market. Throughout the 1930’s, the American government and its people dealt with the depression in numerous ways. Herbert Hoover was the
America, despite its efforts, could not remain neutral and was forced to enter World War 1. Germany did not respect America’s decision to stay neutral and purposely sunk their ships in the British Isles. They sent the Zimmerman Telegram uniting other countries against America. Lastly, they blockaded British ports and prevented American trade with France and GB. Over 100,000 Americans died during WW1, but were rewarded with patriotism, an Allie victory and trade which once again