The Great Disaster
The 1900’s was a time of learning for the government, and the people alike. October 29, 1929 was the beginning of a tragic lesson. This was the start of The Great Depression. The Great Depression affected thousands of people worldwide. During this time hundreds of confused people lost jobs, money, and hope. The disaster earned it’s name because it made the economy, and people depending on the economy, depressed. In the beginning, people viewed the crash in the economy as a drop in the business cycle, and that it would only improve. Unfortunately it was only the beginning. Overproduction of goods and underconsumption of buying slowed the market greatly. No one knew it yet, but this time of debt, depression, and unemployment would last 10 years. President Herbert Hoover believed that the depression was the people’s fault, and was adamant on helping them. This made the people loose trust in Hoover. Areas of large economic poverty filled with shacks made from newspapers, and cardboard were referred to as Hoovervilles. Also, people called empty pockets Hooverflags. President Franklin D. Roosevelt on the …show more content…
The New Deal Plan included programs like the farm credit administration, the civilian conservation corporation, the national industrial recovery act, and the agricultural adjustment act. The farm credit administration refinanced farm loans and worked to save rural banks from closing. Next, the civilian conservation corporation assisted unmarried men ages eighteen to 25 by giving them jobs. Additionally, the national industrial recovery act was designed to eliminate unfair competition between businesses, and prevent business failure. Finally, the agricultural adjustment act was made for farmers, this act paid farmers to reduce the production of dairy products, and many crops. Unfortunately, this act hurt small farmers, and was ultimately deemed
The 1900’s was a time of learning for the government, and the people alike. October 29, 1929 was the beginning of a tragic lesson. This was the start of The Great Depression. The Great Depression affected thousands of people worldwide. During this time hundreds of confused people lost jobs, money, and hope. The disaster earned it’s name because it made the economy, and people depending on the economy, depressed. In the beginning, people viewed the crash in the economy as a drop in the business cycle, and that it would only improve. Unfortunately it was only the beginning. Overproduction of goods and underconsumption of buying slowed the market greatly. No one knew it yet, but this time of debt, depression, and unemployment would last 10 years. President Herbert Hoover believed that the depression was the people’s fault, and was adamant on helping them. This made the people loose trust in Hoover. Areas of large economic poverty filled with shacks made from newspapers, and cardboard were referred to as Hoovervilles. Also, people called empty pockets Hooverflags. President Franklin D. Roosevelt on the …show more content…
The New Deal Plan included programs like the farm credit administration, the civilian conservation corporation, the national industrial recovery act, and the agricultural adjustment act. The farm credit administration refinanced farm loans and worked to save rural banks from closing. Next, the civilian conservation corporation assisted unmarried men ages eighteen to 25 by giving them jobs. Additionally, the national industrial recovery act was designed to eliminate unfair competition between businesses, and prevent business failure. Finally, the agricultural adjustment act was made for farmers, this act paid farmers to reduce the production of dairy products, and many crops. Unfortunately, this act hurt small farmers, and was ultimately deemed