Great Depression Essay

1212 WordsDec 1, 20165 Pages
The Great Depression The Great Depression was a horrible time of turmoil, hardships, and trials for Americans. It was a time when jobs were scarce, people were out of work. So many US citizens lost their homes, went hungry, and were left cold. Those who were fortunate enough to have jobs, made very little money. Necessities of life became a daily struggle. What is a depression? It’s a period during which businesses, employment and stock-market values severely decline. Americans have grown to know the depression we faced as the Great Depression. It is named due to its long duration, as it began in 1929 and didn’t end until mid-1941—the start of WWII. It is also named due to the severity of decline it caused. Employment was already low, and unfortunately, only started to drop. The Great Depression had many causes for its start. Unequal distribution of wealth in 1920, high tariffs and war debts, overproduction in industry and agriculture, and the stock market crash are just a few of the reasons that will be discussed in the following paragraphs. International trade with Europe and Germany is also said to have caused the depression many of our parents and/or grandparents faced as children. The Great Depression is held responsible for a dramatic change in the structure of American politics, as well. The stock market crash is thought to be the major outlining cause of the twelve-year depression America faced some seventy years ago. The stock market crash was not the immediate cause nor was it the sole factor of the depression. The crash of 1929 was a warning of the economic problems the U.S was facing. It simply made the unfathomly deep poverty much more apparent. Thursday, October 24, 1929, “Black Thursday”, marked the start of the large economic crisis that impacted the lives of millions. Tuesday, October 19, 1929, known as “Black Tuesday”, was the beginning of

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