Rossevelt and Hoover
In early September 1927 share prices on the Wall Street stock market began to slip, unlike the last 7 years when they had been constantly rising. Experienced stockbrokers began to sell their shares because they saw that the prices would probably fall. Normal working class people saw the stockbrokers doing this, and suspected something was going wrong and they began to sell their shares too. Soon after everyone began to panic and were selling their shares as quickly as possible. Prices of shares plummeted and people were selling their shares for anything they could possibly get. Then on Tuesday, 29th of October 1929, 16 410 000 shares were traded in the worst day in history of the New York stock market. No one would buy the shares and everyone was panicking. All shares lost a huge amount of their value and nearly all people, wealthy or poor were hit. Herbert Clarke Hoover started off with nothing in life. His parents died before he was 9 and he was left to be brought up by his uncle who was a Quaker Doctor and his aunt in Oregon. He only stayed in High School till he was 14 then he left for work as an office boy. He became interested in engineering and went to university and graduated with a degree of mining an
The Federal Emergency Relief Administration provided more relief and better recovery because it provided $500 million for soup kitchens and money for the dole. Franklin Delano Roosevelt served for longer than any other U.S president. He brought hope back to millions of people and helped tho whole nation through the Great Depression. The National Recovery Administration (NRA) was also set up and this got rid of child labour, introduced a minimum wage and 8 hour days and this helped employment. Employers did not have to abide by these because they were only guidelines, but if they didn’t they did not have the privilege to have the blue eagle NRA sticker on their products and this discouraged people to buy the product without them. Way over 2 million employers cooperated with these new guidelines.
Some topics in this essay:
Wall Street,
Depression Roosevelt,
Relief Act,
Valley Authority,
Administration NRA,
Quaker Doctor,
Security Act,
Conservation Corps,
Calvin Coolidge,
President Roosevelt,
money banks,
fair labour standards,
labour standards act,
relief recovery,
relief act,
farmers relief,
brought confidence,
people food,
farmers relief act,
world war,
solve economic,
act brought,
deposit money banks,
selling shares,
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Approximate Word count = 1563
Approximate Pages = 6 (250 words per page double spaced)
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