Essay on The Great Depression And Its Impact On America

1596 Words Dec 17th, 2015 7 Pages
The Great Depression, it was a time in our history spanning through the 1930’s that saw an extremely dramatic economic downturn, well known as the worst in our history. It’s affect was felt by people all over the world. This dramatic economic condition is now referenced as the the worst that the economy could ever get. It’s affect ran over, so to speak, so many people from every economic class. It not only affected companies but it affected just about everyone across the board, no discrimination. Everyone was in it for the long haul. People’s income began to marginally decrease to the point the profit people and companies made kept decreasing, the governments tax revenue plummeted , the price of things dropped because the value and worth of things such as currency dropped as well. Most of these events can be traced back to a few things. However, The Great Depression was not just a sudden collapse or a sudden floor drop. It was destined to happen by some important events that led up to it. Some of these significant events were; the crash of the stock market in 1929, the “Roaring Twenties” as we read about, the wide division created between the rich and the poor or as they called it in the text “Maldistribution” , there were a great number of banks that closed, and the loss of jobs for hundreds of thousands of American people.

One of the major events of the crash of 29 was called Black Tuesday. Black Tuesday was the most devastating and the biggest stock market crash in…

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