Was the Stock Market Crash of 1929 the Main Reason for the Great Depression?
Introduction:
Thesis: The Stock Market Crash of 1929 marked the beginning of the Great Depression. It was the catalyst for the greatest economic collapse in history.
Understanding the reasons behind the Great Depression- in particular regards to how the Stock Market Crash greatly affected and commenced it- is vital to preventing any future economic depressions.
Body:
The result of the Stock Market Crash of 1929 caused bank closures nationwide. These bank failures threatened the economy when people began losing their savings.
Many banks invested in large portions of their clients' savings in the stock market. Due to this, these banks were required to close …show more content…
Farmers who prospered at the rising wheat prices, were hit the hardest. Many even used their corn crops as fuel because the price of corn was lower than coal at that time. Unemployment rates were rising at climactic rates in the 1930's. Thirty million people were unemployed in the United States alone.
Unemployed men felt like disappointments as a result of their inability to provide for their families. Unemployed men were often at home, frustrating their wives; arguments became more common between husbands and wives.
Men were emotionally distant from their children. Some unemployed men drank their problems away, while others left their homes in search of employment in other cities. Some abandoned their wives and families completely.
Conclusion:
The Stock Market Crash of 1929 was the main cause of the Great Depression. It was the greatest contributor to the worst economic downfall North America had ever seen.
This event left many in debt and unemployed, caused bank failures, foreclosures, a decline in consumerism, and had a negative effect on families. Overall, these effects are linked to the Great Depression and prove that the Stock market Crash of 1929 truly did cause the Great
Introduction:
Thesis: The Stock Market Crash of 1929 marked the beginning of the Great Depression. It was the catalyst for the greatest economic collapse in history.
Understanding the reasons behind the Great Depression- in particular regards to how the Stock Market Crash greatly affected and commenced it- is vital to preventing any future economic depressions.
Body:
The result of the Stock Market Crash of 1929 caused bank closures nationwide. These bank failures threatened the economy when people began losing their savings.
Many banks invested in large portions of their clients' savings in the stock market. Due to this, these banks were required to close …show more content…
Farmers who prospered at the rising wheat prices, were hit the hardest. Many even used their corn crops as fuel because the price of corn was lower than coal at that time. Unemployment rates were rising at climactic rates in the 1930's. Thirty million people were unemployed in the United States alone.
Unemployed men felt like disappointments as a result of their inability to provide for their families. Unemployed men were often at home, frustrating their wives; arguments became more common between husbands and wives.
Men were emotionally distant from their children. Some unemployed men drank their problems away, while others left their homes in search of employment in other cities. Some abandoned their wives and families completely.
Conclusion:
The Stock Market Crash of 1929 was the main cause of the Great Depression. It was the greatest contributor to the worst economic downfall North America had ever seen.
This event left many in debt and unemployed, caused bank failures, foreclosures, a decline in consumerism, and had a negative effect on families. Overall, these effects are linked to the Great Depression and prove that the Stock market Crash of 1929 truly did cause the Great