(Himmelberg, 9).
American's economic condition had become desperate, and it only worsened during the next year. When the depression bottomed, a staggering number of workers, one out of four, had no employment at all, and many of those still with jobs had only part-time work. (Himmelberg, 9) Many Americans, unable to make mortgage payments, lost their homes, and even more lost their savings as the banks came under increasing pressure. The rate of bank failures mounted rapidly during 1930 but rose to epidemic proportions in 1931, in that year conditions forced 2,294 banks, holding deposits worth $1.7 billion, to close, with depositors losing much of their money. (Himmelberg, 9).
Statistics tell the same story everywhere we look. Farm prices dropped by 55 percent between 1929 and 1932, drastically lowering farm income and worsening the burden of fixed debt most farmers were carrying. (Himmelberg, 9) As a result, farmers were forced to foreclose with frightening frequency, and a very high proportion of farmers lost their land. In manufacturing, the rate of unemployment rose even higher than the national average as output dropped by half between 1929 and 1932, and in some industries, such as automobiles, by nearly three-quarters. (Himmelberg, 9) In many of the great industrial cities such as Detroit, Toledo, and Cleveland, half or more of the blue-collar workers were unemployed by 1932. (Himmelberg, 10) Hundreds of thousands of farm families, many from the "Dust Bowl" states, lost their land and became migratory farm workers. A great number of families from Oklahoma and Arkansas were forced into this condition. Signs of grave dislocation were everywhere. The number of hoboes, men (and some women too) who wandered the country stowing away on trains and living by begging or through intermittent labor, numbered in the millions. (Himmelberg, 10) It was common for people in cities and towns along the railways to find ragged men knocking at their back doors asking for food.
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The Great Depression The Great Depression was one of the longest depressions in the history of North America left Americans shaken. ... My grandmother, a survivor from the great depression says "we had to gather food from were ever we could find it, we were starving". ... The Great Depression sent people that were ordinarily comfortable with life scurrying for reassuring shelter and it left many people badly shaken from the experience. ... People that went through the Great Depression and survived will forever remember the way that it felt to stand in line for hours for food or even to...
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The Great Depression When Franklin D. Roosevelt took office, America was going through what was known as the Great Depression. ... Farm families are an example who suffered during the Great Depression. ... The banks were closing down due to the depression. ... The Great Depression was not the first or only depression Americans had seen, but it was the worst. ...
The Great Depression The Great Depression was the greatest economic slump to ever occur in US history. The depression began in late 1929 and lasted throughout the following decade. Several factors played key roles in bringing about the depression. ... However, though a great deal more work was being done, the average wage for a manufacturing worker increased minimally. ... Though the Great Depression has long since ended, it continues to leave an indelible imprint on our economic society. ...
Great Depression was the worst and longest economic collapse in the history of the modern industrial world. ... The depression started in the United States and spread to most of the world's industrial countries. ... During the Great Depression there were rapid falls in the production and sale of goods and a rise in unemployment. There were many factors to the cause of the Depression. ... Another one of the factors to the Great Depression was what the government had done or had not done to ensure that this would not happen. ...
The Great Depression On Thursday October 24, 1929 at 10:00am the stock market bell went off at the New York Stock Exchange, stocks were plummeting down. ... The Great Depression did not just happen there were many factors that contributed to the depression like the United States international credit system, economic dependency, and international trade policies. ... The great depression is a very important chapter in our history. Through the great depression we learned many great lessons and as a country we came to realize how fragile what may ...
Causes of the Great Depression The Great Depression was the severe economic crisis that began in 1929, that sent the United States into a frenzy. ... It's undeniable that the Great Depression was one of the hardest trails the US has had to endure. ... The Great Depression was a trying and difficult time for America. ... Work Cited Page America's Great Depression. ... Available http://odur.let.rug.n1/~usa/H/1994/ch9_p8.htm "Great Depression" Encyclopedia.com . ...
