Essay on President Calvin Coolidge 's The Great Depression

1825 Words Sep 5th, 2016 8 Pages
In the words of President Calvin Coolidge, “The country can regard the present with satisfaction and anticipate the future with optimism,” (Doc B). Despite being President of the country, Coolidge was incredibly mistaken. Coolidge had no clue as to how far down their economy would plummet from 1929 to 1939. Coolidge had no clue that there would be thousands of homeless families and failing businesses in America’s not-so-distant future. Even John T. Raskob could not see this happening as he wrote in Everybody Ought to be Rich, “...anyone not only can be rich, but ought to be rich” (Doc C). Due to the overconfidence in our economy it left the nation wondering, “What Caused the Great Depression?” It is essential to define caused in this question; caused is defined as a person or thing that gives rise to an action, phenomenon or condition. The Great Depression was caused by the overconfidence in the country’s own market and wealth, overspending in the nation and the fall of the international trade.

The Great Depression was caused by the brash approach towards the country’s own stock market and wealth. A political cartoon has depicted what seems to be Uncle Sam resting safely in the luxuries of America, clearly not caring about any possible declines or threats to the nation (Doc O). In the cartoon one can tell that the country was blinded by its pride in the economy that they were not able to prepare themselves for any sort of economic decline, therefore worsening any small…

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