1930s : A Tough Decade For America Essay

1533 Words May 3rd, 2015 7 Pages
1930s is a tough decade for America. The Black Tuesday in 1929 and the bank failure hit American economy, that lead U.S. to the Great Depression. People suffer under poverty. Also, this is the first time government try to create a large number of jobs to help people. The most important event shaped 1930s are Great Depression, New Deal program, and the entertainment during 1930s.
The stock crash in 1929 seems marked the end of the roaring twenties. Thousands of people lost their working capital. At that time, many people support the idea of the stock market will rise, but the reality isn’t, because the economy of 1920s is an illusion. More than sixty percent of households with incomes below their living needs (Why). Also, farmers’ low-income cause them to get more loans but unable to repay them. This brought pressure to the bank system. Under the pressure, banks not grant loans to small businesses, and try to enter the stock market to get more money. Small business owners rely on the stock market to get their working capital. After the stock market crashes on Black Tuesday, thousands of small businesses went bankrupt. People try to take their money from the bank, but some of people lost their saving account and money because the bank failure. By 1933, 11,000 banks failed (Danzer 469). The lack of protection on economic system from the government finally bring the United State into the Great Depression .
The Great Depression affect people hugely on their daily life. As most of…

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