HISTORY 1302 WRITING ASSIGNMENT Explain why the stock market crash of 1929 occurred and tell how it turned into a major Depression. Describe the major ways in which the Depression affected Americans. What did President Hoover and President Franklin D. Roosevelt do about the Depression?
Though the New York Stock Exchange was founded in 1817, its actual foundation was masterminded as far back as to 1792 when a group of merchants and stockbrokers entered into an agreement in Wall Street. In 1929 something spectacular happened. Prices of stock started to decline in the month of September and by the month of October a fall began and by the end of the same month about 12million shares were sold. …show more content…
Crime rate for instance rose due to unemployment; this was to meet up with subsistence, those who could not meet up simply committed suicide to avoid malnutrition; it is said “During the Great Depression, crime flourished, and while many criminals found imprisonment and punishment, some found opportunity and even success”. (Sarah L.; Murders, Gambling, and Suicides: Crime in Seattle during the Depression cited from https://depts.washington.edu/depress/crime_seattle_great_depression.shtml) .Bills increased to be paid and desperate women resorted to prostitution to foot the bills. People died of sicknesses due to poverty and inability to receive medical treatment. Many people became alcoholics in order to forget their …show more content…
. . action.” He took measures to reshape the economy by encouraging labor unions, supporting aid endeavors, opened up dialogue with business enterprises to stabilize prices; he founded government agencies encouraged volunteerism to raise money. He gave indirect aid to banks and local public works projects but refused involving federal government into what would eventually be a deficit and
Though the New York Stock Exchange was founded in 1817, its actual foundation was masterminded as far back as to 1792 when a group of merchants and stockbrokers entered into an agreement in Wall Street. In 1929 something spectacular happened. Prices of stock started to decline in the month of September and by the month of October a fall began and by the end of the same month about 12million shares were sold. …show more content…
Crime rate for instance rose due to unemployment; this was to meet up with subsistence, those who could not meet up simply committed suicide to avoid malnutrition; it is said “During the Great Depression, crime flourished, and while many criminals found imprisonment and punishment, some found opportunity and even success”. (Sarah L.; Murders, Gambling, and Suicides: Crime in Seattle during the Depression cited from https://depts.washington.edu/depress/crime_seattle_great_depression.shtml) .Bills increased to be paid and desperate women resorted to prostitution to foot the bills. People died of sicknesses due to poverty and inability to receive medical treatment. Many people became alcoholics in order to forget their …show more content…
. . action.” He took measures to reshape the economy by encouraging labor unions, supporting aid endeavors, opened up dialogue with business enterprises to stabilize prices; he founded government agencies encouraged volunteerism to raise money. He gave indirect aid to banks and local public works projects but refused involving federal government into what would eventually be a deficit and