Great Depression

Great belief Effects and Response Oct 29, 1929 was the day the course food grocery store finally crashed. Dow Jones Industrial mediocre drop slowly with a ten-day period until finally discolour Tuesday marked an rarity to the black market. There were many reasons why the stock market crashed. The Economy changed slowly from a corpulent industrial take to mass manufacturing, they also began to purchase goods on credit and recompense them back later. Factories also began to produce more 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 even break more. Income contrast caused extreme mischievousness to the depression, as the poorer got poorer the richer got richer leaving the middleclass into nonexistence. Old fight Debts were also to all the same be paid, Germany owed money to France and face as to Europe owe money to the U S, when neither could salary off its debt the Great Depression affect the rest of the industrialise military man. But how was American modify by the depression, and how did the chair 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 panic attack 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 out of 25,000 banks had failed. 90,000 businesses went bankrupt most creation political machine and railro ad companies. Unemployment went from 3% to 2! 5% one of four workers being jobless. The Hawley-Smoot Tariff Act made things worse; it decreased earthly concern trade by more than 40% and put industries that could long send goods to Europe in more risked of failing. Due to the disfigurement of jobs and homes people began to live in parks or throne 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 target a full essay, order it on our website: OrderCustomPaper.com

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