Solutions To The Great Depression Essay

The Great Depression was an enormous economic downfall in the history of the United States and was also a very hard time for many Americans. People had lost jobs, markets went bad, banks had shut down, and unemployment rate has gone up. It had lasted from 1929-1939. During the next several years, buyer spending and investment had dropped, causing a decline in industrial output and raising the unemployment level. It began with the stock market crash on October 29 1929, which had lost millions of investors, markets had lost $30 billion dollars in two days, making it ten times more than the annual budget the U.S had spent for WWI, and prices were dropping until the end of November. Also stocks were only valued at 20 percent. The Down Jones market had gone up to it’s highest peak at 381 …show more content…
It raised import duties to protect American manufactures from foreign competitors. The 40 percent tariffs only worked out to tax 2.4 percent of citizens. American businesses were no longer investing in Europe and the tariff hasn’t made a huge problem in the United States but was a big threat to Europe. It also resulted in a general globe trade war and a rapid decline in international trade. He had given loans to farmers with the Agricultural Marketing Act to help stop them from going bankrupt, but they had to pay back the loans.
Then comes the Dust Bowl, as known as the Dirty Thirties, which made a huge impact to the Great Depression. It was a severe dust storm that caused a lot of damage to the prairies of the U.S. Millions of acres were affected by the dust bowl and farmers had lost their properties. Because of the continuous dust storms, about 100 million acres of farmland didn’t have enough topsoil to grow crops. Poor practice farming like over planting crops and overgrazing, massive plowing under natural grasses, contributed to the Dust Bowl of the Great