The Depression Of The Great Depression Essay

1824 Words Nov 24th, 2016 8 Pages
During the late 1920’s the Great Depression was underway. The Hoover administration was trying to combat the problems through different tactics and programs along the way. This differed with the Roosevelt administration as they used different tactics and programs to try and combat the Great Depression. Some of the problems that were created by the Great Depression were resolved, however some continued on. Because of the Great Depression the role of the Federal Government changed. The Great Depression began in the late 1920’s. One out of four Americans were unemployed and 500,000 people had lost their homes (David Shi 829). The Depression started by the rise and then great fall of the stock markets. On October 29th, the stock market took a terrifying plunge. Panic started to set in as investors and stockbrokers lost everything as they were forced to sell the investments for a great loss. The day will go down in history to be known as Black Tuesday. (David Shi 829). As the markets went down the economy was too. Businesses laid off large amounts of workers as others flocked to the banks to try and save their savings from the stock market. The stock market crash had revealed the weaknesses of the economy’s foundation to which it crumbled everything underneath.
The Hoover administration believed that the great depression was to be ended, but thought that it would end by leaving it alone ( (David Shi 837). Hoover during this time decided it would be a good idea to balance the…

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