Great Depression
The years between 1930 and 1945 were among the most extraordinary in American history. From the depths of the Great Depression to the exhilaration of victory in World War Two, the American experience was marked by extremes of discontent, deprivation, dislocation and, finally, the feeling of undiluted triumph. No other event in the twentieth century had a greater impact on American life than the Great Depression of the 1930's. The slump in the economy, the countless numbers of unemployment, and the swelling relief rolls were only half of the trouble. The other half, some may say greater half, was the emotional and psychological hardships that many Americans had to experience. These five factors are all brought into play when trying to understand the "worst economic crisis in American history." "Stock trading in the late 1920's captured the imagination of the broad American public." (Faragher 735) The stock market became very popular, it was treated like a sporting event. Americans were following the prices the way they would follow great athletes. Americans were basically told that it was their duty to buy stocks. By the end of the 1920's, stocks weren't being bought because of their earning power anymore, most stockh
Women's labor force was much cheaper than the men's labor force, so they found it easier to keep jobs. The National Labor Relations Act gave the federal guarantee of right to organize trade unions and collective bargaining. The Great Depression and World War II both had great impacts on Americans and the way we live today. " (Hartshorne pages 219-220) The industrial production fell to "pre-World War I levels," prices dropped to all time lows and farmers lost their land as the city dwellers lost home. It wasn't easy going from having whatever you needed and then some at your fingertips, to having to rummage through trash to find clothing and scraps of food. The foundation of credit for the market, margin debt, soon crashed as well. The Resettlement Administration relocated poor rural families and reforestation and soiled erosion projects. " (Faragher page 735) Only about 30% of Americans owned any stocks at all. He started his "fireside chats" which were radio broadcasted "chat" with the American public telling them the steps he had taken to meet the financial emergency. " (Faragher page 737) The Depression jumbled the psychological balance in many families. Every big city had men living like this. Secretary of the Treasury Andrew Mellon described the benefits of the slump: "It will purge the rotteness out of the system. The war brought in a large number of new workers. Most investors with margin accounts had no choice but to sell when the values fell. Other statistics put the figure that year above 16 million, or nearly one out of every three workers.
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Acceptance Essays
