Essay on The Great Depression And Its Effects On American Citizens

1256 Words Jan 14th, 2015 6 Pages
The Great Depression is referred to as the time in history between the 1930s and mid 1940s. These were the years of a severe worldwide economic depression. Which all started with the collapse of the stock market in 1929, which resulted in a 40 billion dollar loss. Plus an unstructured banking system has been just enough to create a chain-reaction of events to occur, which by 1932 had the economy spiraling out of control. As stock prices dropped, banks requested more loans and by mid-November an estimated $30 billion in stocks had disappeared. As The Great Depression raged on, the negative impacts on American citizens increased, company shutdowns became more frequent, and government changes occurred.
Between 1929 and 1932 alone, the nation’s average income dropped by 40 percent. By 1932, over 10,000 banks had gone bankrupt and the amount of unemployed Americans rose to 13 million. This huge increase in unemployment led to the resentment of foreign workers. In the month of February 1931, over 6,000 Mexican Americans are deported for stealing the jobs of Americans. In 1932, Cook County Chicago was firing their public servants such police, firefighters, and teachers. Bread lines and the creation of Hoovervilles became a common occurrence.

Hoovervilles were small, cheaply made makeshift shelters for the homeless during the great depression. Hoovervilles were named after President Herbert Hoover because citizens of the nation blamed him for the hardships they were facing.…

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