What Are The Causes Of The Great Depression Essay

Title
In 1929, one of the most devastating financial crisis occurred. It was just seventeen years ago when the greatest disaster in the United States financial history occurred. People were fired, the stock markets fell, and people jumped from buildings. The fear and anxiety that was struck into people left them in a shell shock. The Great Crash of 1929 was the United States most devastating era of history and became known as “ The Great Depression.”. It created fear for life, hatred for the Government, and the failure of everyday life. The day the stock market crashed was one of the most memorable times in the financial history of America Prior to the economic downfall of 1929, money kept pouring in from different people throughout the whole united states. People started investing money into the bank and borrowing it as well. It is said that more than one hundred thousand Americans held stocks during the summer of 1929. Although many people disagree, the stock market crash of 1929 was not the sole cause of The Great Depression, but it did accelerate the global economic collapse. Another cause was because most Americans started putting their purchases on credit, which is when someone does not have the money at the time, so they save it for when they had money and paid for it, even though it seldom happened that they actually paid.
A man that
survived the Great Crash as a child said, “Credit cards are dangerous, "Save up if you want something.” Doing this had the banks pay the business for them and the people would plan to pay the bank back in payments . As people heard the hush hush news about the crash coming, mainly investors, they started to take their money out of the banks and shutting down their investments which often resulted in the bank's failure. The result of this not only affected banks, but it also affected people's job. Many people didn't know about the crash and noticed the drop in their paycheck due to the reduction of money being put in the banks. As their paychecks dropped they started to not have enough money to support their family and most of the time ended up on the streets. (Taylor) The streets were lined up with newly homeless people. As people were walking down the road they may have heard a loud clap as bodies hit the ground from ten stories above. The offices that were in ten story buildings or higher, were mostly owned by high businessmen that businesses had failed. They took this as a way to get out of the financial crisis that was about to or that was being bestowed onto not only them but also the citizens of America. The people, at that moment, didn't think they would ever recover from this depression. People cried and people died. This quote is from a survivor of the great depression, "We kept everything. We didn't waste anything," "My dad never got over it mentally," Gowell said. "He never really got over how bad it got." During this time millions of American citizens were living outside the normal rent-paying housing market. Many of the people relied on their family relatives to take them in and make a new way of life for all of them. Although many of them sought the comfort in family, many of them took the streets, finding whatever shelter they could.
Many people know and believe that the Great Depression was resolved by War World II.
When the war started The American Military Forces sent out over twelve million American soldiers of all different ranks to go into war. With the start of War World II more and more jobs were created for the people of America. They needed people to produce armaments, munitions, and necessities that was needed for war. This allowed many new jobs for people including women, which was new for this time. While the men were at war the women's workforce was driven harder not only for the need of things for the war, but also the needs to
live.