The great depression was a hard time for America in their economy. Lots of things happened throughout this decade. (1929-1939)The world wouldn’t know how to handle economy now if it wasn’t for this. The United States lost 7 million people because of lack of food and supplies to live.
The Great Depression lasted about ten years in total. Before the markets crashed the economy was already shrinking in the United States. One big cause of the great depression was because of the overproduced goods and all of the expensive products. The farms grew more than people could buy. Nobody bought any and the Prices fell because of this. factories had to close down and The workers from the factories that closed now were unemployed so they had less money and They soon became homeless. When they were homeless they didn’t have any money they couldn’t buy food so most people starved to death. Even though it all happened in the United States soon it started happening in most other countries in the world. Germany had to make huge reparations because of the treaty of Versailles.
The new president Hoover, promised many things to the country. Nobody really liked him because he never fully helped Americans throughout the Great Depression. He wrote a letter to a governor telling him that everything that had to do with economy had gone up.
1929 In September Dow reached a record of 381.7. As soon as Black Tuesday or the Wall Street crash came the stock market crash of 1929 had begun. It was the worst crash ever but nobody realized it. A lot of people blamed it on the banks because of all of the deposits they made.
When franklin Roosevelt became president and the Great Depression was going on he led the nation through. The new deal, his policies, expanded the governments role in economy issues.
Before all of this happened Nebraska had a lot of safe banks that everybody used. Then in 1931 There was so many bank failures and there was less credit available to everyone. (About 30,000 failures)One of the largest banks in America at that time failed. People started food riots and everything went bad. Nobody had food so they started making soup kitchens to give out soup for free to needy people. They were run by churches and people with a lot of money and donations. These soup kitchens served from 1,600 to 3000 people a day.
In 1936 There was a heat wave and 1700 people were killed by it since there was no air conditioning in their houses. The temperatures were of 100 degrees and above for almost two weeks straight. And while trying to cool off some people drowned! The dust bowl came. It is when the US had super dry and hot summers and people struggled more because they had no money.
As you can see in this paper the Great Depression was a pretty big and bad deal that ruined many lives. I sure hope people and everyone in the government learn from the past so it doesn’t happen again.