The Great Depression Left A Giant Impact On America And The World

836 Words Oct 22nd, 2014 4 Pages
On October 29th of 1929, a day deemed “Black Tuesday,” one of the biggest events in history occurred: the crash of the stock market. At the end of the “Roaring Twenties,” a period of major economic prosperity, America was bewildered by an event so unexpected that it shook the nation and caused utter chaos. Thousands rushed to their banks only to realize that what they had before was gone. The wealthy, the poor, the middle class, and everyone who invested in stocks or used banks were all greatly affected by this event, no exclusions. Lasting until the early ‘40s, the Great Depression left a giant impact on America and the world. So how did we get out of this insane economic downturn? During the Great Depression, President Hoover was in office. Many people place blame upon him for the stock market crash and the disaster the economy had become. There had even been not-so-flattering things named after him such as Hoovervilles (shantytowns) and “Hoover wagons” ( broken down cars). In 1932, Franklin D. Roosevelt easily slipped into office as Hoover lost in his attempt at re election by a landslide. New United States leader, President Roosevelt promised a bright future and assured Americans he would make a prominent effort to curing the Great Depression. First and foremost, he closed all banks in the nation. After doing so he began production of the new programs that would be put in place known as the “New Deal.” These programs were intended to create jobs for Americans and help…

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