The Great Depression: A Worldwide Economic Slump Of The 1930's

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Life in the Great Depression was hard; people lost homes, jobs, life savings, and family. “Great Depression was a worldwide economic slump of the 1930 's” (Mitchener). The Great Depression started within the last six months of 1929, cause being the giant stock market plummet in October. Shortly after the Depression began, the current president, Herbert Hoover was denied another term due to rising unemployment and Franklin Delano Roosevelt took office (Mitchener). The struggling time brought the United States into appalling unemployment rates, with America’s population being 25 percent unemployed. The American people were greatly affected by the Great Depression of the 1930’s, creating a shutdown in banks all across the United States, employment being extremely limited, and the amount of working woman steadily rising as result of the New Deal. One of the many things that was effected in the Depression, was the banking system. “The banking system witnessed a number of "panics" during which depositors rushed to …show more content…
The Great Depression ended with the beginning of World War II when many people were sent into the military. This gave jobs to a number of people, and the people who didn’t have a job, replaced the people in the Military (Bryson). We ended up with quite a few new laws, including FDIC and SEC, created to help insure we don’t have another bank holiday similar to the one in 1933 (Mitchener).Many things can be done to fix the repercussions of the Great Depression. We should always make sure there are jobs for the people who need them, and when a law should be passed that if you reach a certain amount of debt, a person cannot be given anymore to pay back. This would make it easier to pay back debts and loans. The United States could also make sure the stock market is stable in some

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