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Great Depression Essay

  • Submitted by: ih8k8666
  • on December 8, 2008
  • Category: History
  • Length: 1,710 words

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Below is an essay on "Great Depression" from Anti Essays, your source for research papers, essays, and term paper examples.

The stock market crashing, scarcity of jobs and opportunity, economic slump, these were once descriptions that accurately depicted the great depression and American life from 1929-1939. However, as time goes on those depressing images and loss of confidence within the United States’ system is becoming more familiar, and some of the documents written in that time period seem to have come right out of a paper today. Maybe history does in fact repeat itself, and the documents I chose represent that, and are easy to relate to.
To begin to understand this period of time on a personal level, we must understand what happened, how it happened and its impact on the United States historically. During the late 1910’s and 1920 America was prospering, we had become urbanized, industrialized and established ourselves as a world power.   The nation’s productivity was at an all time high, however people were still insecure with the economy and all this manufacturing was leading to overproduction and a crash could perhaps have been foreseen. Yet still, people were producing, making money, and instilling it right back into the economy “80% of the nations families had no savings at all”(Out of Many 663). The stock market peaked in September of 1929, then it seemed as though everything took a turn for the worst. On “black Tuesday” October 29, 1929 the market completely crashed and in a panic, people mass sold stock, which was just the start of a deep downfall.

In reaction to the market crash many companies cut back on production, and employees were laid off. Unemployment was spreading “12.6 million workers- over one quarter of the labor force- were without jobs.. nearly one out of every three workers” (Out of many p.664). Money became scarce and people ran to the banks trying to pull out savings, which upset the system and caused bank failure. When the banks failed and people lost their savings many became upset, depressed, angry, and lost complete trust in their government and...

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