The Great Depression was a worldwide business slump of the 1930's. It ranked as the worst and longest period of high unemployment and low business activity in modern times. The Great Depression began in October 1929, when stock values in the United States dropped rapidly. Thousands of stockholders lost large sums of money and many of these stockholders were even wiped out. Banks, factories, and stores closed and left millions of Americans jobless and penniless. Many people had to depend on the government or charity to provide them with food. President Herbert Hoover held office when the Great Depression began. The voters elected Franklin D. Roosevelt President in 1932. Roosevelt's reforms gave the government more power and helped people get through the depression. The Great Depression affected almost every nation and everyone. It caused a sharp decrease in world trade because each country tried to help its own industries by raising tariffs on imported goods. The depression caused some nations to change their leaders and their ty
pes of government. The poor economic conditions of these times led to the rise of the German dictator Adolph Hitler and to the Japanese invasion of China.The Great Depression was known as the worst and longest economic collapse in the history of the United States. It not only put the United States in depression from 1929 to the early 1940’s, but also destroyed the rest of the World’s economy. Franklin D. Roosevelt’s confidence helped him win over the election in 1932, but it had raised the Americans spirits with his new aggressive federal programs known as the “New Deal.” “We Americans will rise from destruction, we Americans will conquer despair, we Americans are facing new things. With confidence we accept the promise of a New Deal”. There are many possible causes of the Great Depression. The biggest problem was that the stock market crash of 1929 was the cause of the Great Depression, but there were bigger problems within the United States economy before the Great Crash. One of the biggest problems of the econo
Example Essays Home
