The Great Depression
Many things can be attributed to the cause of the Great Depression. The stock market crash can be seen as a starting point but not the only cause of the depression. With people spending money as often as they could, and not even having any to begin with they ended up buying new cars or radios on installments up until the point that they were unavailable to buy any more merchandise. This continued with the belief that everyone was able to be rich, and this lead to more careless spending. An uneven money distribution was also accredited to the great depression, and with money going to just the rich rather than being giving equally, the middle class began to suffer greatly and with that they started down the road to utter poverty. One last cause that further developed the great depression was the new tariff acts established; this was more seen as a cause rather than a solution. In the mist of a prosperous period in American history, citizens were wasting their money on things they wanted but did not really need. "The great wealth...has had the widest distribution among our own people...has gone steady stream...into the region of luxury." (Doc. B) Being as optimistic as Hoover was, Americans were r
to lead into a depression because most of the population could not afford basic requirements to live. "I am firm in my belief that anyone not only can be rich but ought to be rich. During the Great Depression Families were classified as either being rich or poor. The tariff act was an emergency to stop the U. That one day people all over the country lost $14,000,000,000 total in income. population received about 33% of the nations personal income and by 1948 they received less than 20%. Unfortunately, the prices fell and on one day the entire country lost $14,000,000,000 in income. Therefore, farmers were not able to sell their merchandise and the economy plunged. Another cause for the Great Depression is the uneven income distribution. There is a high connection between speculation, stocks, and the depression. The stock markets purpose was to help build public confidence, when prices were high people were encouraged to buy more.
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