Summary: Lessons Learned During The Great Depression
Lesson 1
How to be resourceful in economic turmoil
One lesson learned during the Great Depression was to be resourceful in times of need. When the stock market crashed and banks closed people were made to make use of what they had, whether that was food or clothes. The Great Depression left a great impression on people of the era’s thoughts, and their habits. Many of them hoarded money, become pack rats, and generally had trouble parting with anything they may possibly have found a use for down the road. Many people ask how people survived the Great Depression; the answer is some did not, but for those who did it was by sheer will to carry on. I wonder how many times saving the ends of a loaf of bread or cutting the mold off cheese meant …show more content…
The value on your home has plummeted to a mere fraction of what it used to be. You begin seeing a line forming outside of several banks and begin to wonder if you should get your own money out, like other people are. Your job cuts your wage by 25 percent, but your feeling fortunate to still have a job, except that six months later consumer demand is a distant memory of what it used to be, so your job enforces furloughs. Unfortunately due to bank issues the money you had set aside in your bank is not there anymore. What do you do now?
How did these people survive the Great Depression? Here are some ways that people were able to survive and live in this penniless era. Based on my reading I found that some people got by, by selling things like apples on the Street Corner, Pacific Northwest apple growers had a surplus of apples, and decided to sell to the unemployed people, and after paying the Orchard owner, a person could stand to make around $1.25. These people sold what was available, and what people would buy would be food before anything …show more content…
Millions of people in the cities lost their jobs and were without means of support for themselves and their families. They were forced to seek help through any means possible, meaning government public assistance programs. The government during and following the depression made some changes on how the citizens were able to access funds set aside for times of need. One of the programs that started the public assistance revolution was the Reconstruction Finance Corporation (RFC) It was modeled after the War Finance Corporation of World War I. The agency gave $2 billion in aid to state and local governments and made loans to banks, railroads, mortgage associations and other businesses. It was continued by FDR in the New Deal and played a major role in handling the Great Depression in the United States, and it helped by setting up elief programs that were taken over by the New Deal in 1933 and
How to be resourceful in economic turmoil
One lesson learned during the Great Depression was to be resourceful in times of need. When the stock market crashed and banks closed people were made to make use of what they had, whether that was food or clothes. The Great Depression left a great impression on people of the era’s thoughts, and their habits. Many of them hoarded money, become pack rats, and generally had trouble parting with anything they may possibly have found a use for down the road. Many people ask how people survived the Great Depression; the answer is some did not, but for those who did it was by sheer will to carry on. I wonder how many times saving the ends of a loaf of bread or cutting the mold off cheese meant …show more content…
The value on your home has plummeted to a mere fraction of what it used to be. You begin seeing a line forming outside of several banks and begin to wonder if you should get your own money out, like other people are. Your job cuts your wage by 25 percent, but your feeling fortunate to still have a job, except that six months later consumer demand is a distant memory of what it used to be, so your job enforces furloughs. Unfortunately due to bank issues the money you had set aside in your bank is not there anymore. What do you do now?
How did these people survive the Great Depression? Here are some ways that people were able to survive and live in this penniless era. Based on my reading I found that some people got by, by selling things like apples on the Street Corner, Pacific Northwest apple growers had a surplus of apples, and decided to sell to the unemployed people, and after paying the Orchard owner, a person could stand to make around $1.25. These people sold what was available, and what people would buy would be food before anything …show more content…
Millions of people in the cities lost their jobs and were without means of support for themselves and their families. They were forced to seek help through any means possible, meaning government public assistance programs. The government during and following the depression made some changes on how the citizens were able to access funds set aside for times of need. One of the programs that started the public assistance revolution was the Reconstruction Finance Corporation (RFC) It was modeled after the War Finance Corporation of World War I. The agency gave $2 billion in aid to state and local governments and made loans to banks, railroads, mortgage associations and other businesses. It was continued by FDR in the New Deal and played a major role in handling the Great Depression in the United States, and it helped by setting up elief programs that were taken over by the New Deal in 1933 and