The Collapse Of The Great Depression Essay

1068 Words Jan 19th, 2016 5 Pages
Begging for food, financially unstable, mentally falling apart, and overall just fighting to live every day were all due to the Great Depression from 1929-39. Herbert Hoover was president during a business thriving time and less than eight months into his presidency, the depression began (Hoover believed the crash was part of a passing recession.) These years were the longest-lasting economic downturn in the history of the Western industrialized world. Manufacturing/production, business profits and investments in the stock market all grew and increased at this time period until the stock market crash began which started the travesty. After the stock market crash of October 1929, panic and confusion filled the minds of many in Wall Street. The Great Depression was more steep in the United States than in other industrialized countries. Over the next several years, there was a massive decline in trade and rising levels of unemployment due to companies laying off workers. In order to dig out of the hole Hoover was in while being president, he attempted to improve the economy by focusing on volunteerism and raising money, yet refused to use federal money for direct aid to citizens. There are multiple reasons why the Great depression began which led to different effects and policies starting up.
One of the biggest causes of the great depression was ideally the Stock Market crash. When hell broke lose with the crash, that had a snowball effect and created more problems because of…

Related Documents