How Did The Cause Of The Great Depression In The 1930s

By the year 1931, one in three New Yorkers were unemployed. According to Oren Harman in his book “ The Price of Altruism” words “…roughly 1.6 on some form of relief.” New York hit rock bottom when it peaks the most between 1932 and 1933. The Great Depression was an economic crash lasting from 1929 to 1939, it didn’t have much effect on the rashly rich, but it took its tolls on everyone else, especially New Yorkers who had the hell of it.
The stock market crashed on October 24, 1929. In the 1920s “The roaring twenties,” the stock Market skyrocketed due to the introduction of “ buy now, pay later,” credit, this caused debt to double up. This idea was a pleasing to many Americans who took advantage until it all crashed down in 1929 when loans
Even though they were referred to as Hoovervilles because of many people blaming President Herbert Hoover for the cause of the Great Depression; they had many different names. These were tents and small shacks put together to provide shelter for homeless people; they were built by homeless people. Since they didn’t have blankets, they would replace them with newspaper and called it “ Hoover blankets.” The largest Hooverville located in the USA at the time was in Central Park, New York. Many people were arrested for constructing these shelters in unauthorized places; they would create in unauthorized areas only because they didn’t have space in authorized locations because of overcrowding. The Hoovervilles were often dirty and were a significant factor in people getting
Crimes rate in New York increased Steve Stack, a professor at Wayne State University “for every one percent increase in unemployment; there was a two percent increase in crime rates.” People were desperate, and this would often lead to riots where people smash windows of grocery stores and steal what they could. These riots would involve several of police officers to bring to cease. People looked to a higher figure to help provoke change.
In the spring of 1935, Franklin D. Rosevelt begun would help America eventually change the Great Depression; The New Deal. The deal was a series of programs for financial recovery. The goals of the New Deal were to relief those in need, recovery the economy and reformed the stock market. The New Deal projects helped put millions of people to work around New York. For example, a project provided was the “ Public Works Administration” which helped create jobs to work on government projects.
After the New Deal began, the unemployment rates decreased, but it took about eight years for the stock market to recover. It was successful and help put an end to the Great Depression. It was swift in stabilizing the economy and offering jobs and relief to those going through