The Great Depression was more than just that of money. It begins with the fall of Wall Street‚ the down fall put the country into a deep hole. With the veterans asking for their bonus that they were promised. They could no long feed their family‚ and President Hoover deny their bonus. People becoming frustrated and resorted to violence. People rush to withdraw their money from banks‚ scared to not have enough money to feed their family. Banks started closing day after day‚ approximately 300 closed
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A economic depression is a sustained economic recession with low production and sales with high rates of business failures and unemployment. On cause of the great depression was the stock market crash. On October 24‚1929 investors began to rapidly sell stocks and stock prices dropped drastically. For people buying on margin they went completely broke. A second cause were government policies. After the Hawley-Smoot tariff other countries responded by putting high tariffs on American goods. Which in
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The Great Depression was the most severe worldwide economic depression. It lasted ten years until it was over but during those ten years there was a lot of pain and suffering. Millions of people lost their jobs and couldn’t care for there children. It affected many countries including America. Many businesses went bankrupt. It was just chaos! It all started on October 29‚ 1929 or as we now call it “Black Tuesday” when stock market prices dropped drastically. Why did they plummet? Well it happened
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that we know as The Great Depression. Within three years the low wages that Americans had been receiving just was not cutting it. Unemployment was reaching record numbers. It was 50 percent or more in many places. There simply were not enough jobs or money to go around. Depression was becoming a way of life. People were living out of their cars‚ cardboard boxes and moving in with relatives that were slightly luckier than they were. Many men were faced with terrible depression. Families that were
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Herbert Hoover and The Great Depression Herbert Hoover was the United States 31st president and after months of him being head in office‚ the stock market crashed and the nation fell into “The Great Depression”. Hoover’s intentions were good because he tried to do all he could to recover the economy from it’s downfall‚ but he failed. His plans were to reform banking in order to provide mortgage relief. He also tried expanding public spending whilst trying the keep a balanced budget. He brought
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Government Responses During the Great Depression‚ Canada’s federal governments were slow to respond effectively to the crises that were provoked. Mackenzine King’s government (1925-30) felt it was best to leave the problems alone; he believed in laissez- faire‚ in other words the economy would get fixed on its own. King was impassionate in balancing the budget and a limited government role. He also believed that the downturn was caused by the business community and an adverse climate cycle‚ which
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The Great Depression The Great Depression was a sad time of worldwide poverty‚ but it ended well for most countries. According to Wikipedia.org‚ the official beginning of the Great Depression was the American stock market crash on Black Tuesday‚ October 1929. This started the economic depression for the rest of the world. Other contributing factors were a weak banking system in the U.S and the Dust Bowl‚ a massive drought in the Midwest. The Dust Bowl happened after the “overproduction of agricultural
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1.Hoover reacted to growing despair by urging more voluntary action. 2.Hoover blamed the depression on international economic problems‚ and he was at least partially right. 3.In may 1931‚ the leading Austrian bank collapsed;by June ‚ the German financial system. 4.Many World War I veterans lost their jobs during the Great Depression‚ and beginning in 1930‚ they lobied for the payment of their veterans’ bonuses‚ wich were not dure until 1945. 5.A bill passed congress in 1931‚ over Hoovers veto
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The Great Depression was a really big historic event that happened in the 1929.In 1933 many people have lost their jobs and income workers reduced by 40%. On October 24‚ 1929 there was something called “Black Thursday” and that’s when the traders started to get 12 millions dollars a day. Over the next couple of days the stock prices fell about 23 %. So The effect of the Great Depression caused many people to suffer; it was a time period in which people faced tremendous challenges such as bank
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your teacher by the due date for full credit. (50 points) 1. After you have completed your research and examined first-hand accounts of people who lived through the Great Depression‚ write a detailed summary of your findings‚ highlighting at least three examples. Include information on these topics: The impact that the Great Depression had on the people you studied. For example: What actions did the people take to survive‚ cope with poverty‚ pay bills‚ remain in their homes or on their farms‚ etc
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