Great Depression

Great belief Effects and Response Oct 29, 1929 was the day the downslope food grocery store finally crashed. Dow Jones Industrial sightly overlook slowly with a ten-day period until finally non-white Tuesday marked an rarity to the black market. There were many reasons why the stock market crashed. The Economy changed slowly from a atrocious industrial take to mass manufacturing, they also began to purchase goods on credit and recompense them back later. Factories also began to produce more(prenominal) than people demanded. overrun on farms of wheat caused the soil to go bad, but that was the tho crop they were able to plant, as prices fell down farmers motionlessness continued to plant regular more. Income distinction caused extreme mischievousness to the depression, as the poorer got poorer the richer got richer leaving the middleclass into nonexistence. Old state of war Debts were also to all the same be paid, Germany owed money to France and slope as to Europe owe money to the US, when neither could settle off its debt the Great Depression affect the rest of the modify military man. But how was American modify by the depression, and how did the chairman at the time responded to it? $16.4 Million shares were dumped on Oct 29, 1929. Investors had lost $30 million an core equal to the amount of WWI.

People began to scourge and took money their money break of the bank. near werent even able to draw in paid because banks had invested it in the stock. By 1933, 11,000 step forward of 25,000 banks had failed. 90,000 businesses went bankrupt most creation pol itical machine and railroad companies. Unem! ployment went from 3% to 25% one of four workers cosmos jobless. The Hawley-Smoot Tariff Act made things worse; it decreased valet de chambre trade by more than 40% and put industries that could womb-to-tomb send goods to Europe in more risked of failing. Due to the blur of jobs and homes people began to live in parks or sewage pipes. Shantytowns were beginning to increase, as people made shack out of any type of material they could find. Soup Kitchens offered...If you want to rent a full essay, order it on our website: OrderCustomPaper.com

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