Premium Essay

What Was The Impact Of The Great Depression On American Society

Submitted By
Words 961
Pages 4
The effect that The Great Depression had on the American people was drastic; it drew many of them to do things they never would have done. Families were torn apart because they could not afford to feed their children, many were forced to send them away to work, or to go live with other family members. The declaration of bankruptcy was very common during this time; stock brokers in the New York Stock Exchange lost lots of money, hurting millions of Americans. Millions in poverty caused a big change in industry. Clothes were now being made to last longer, and cars, trains, and airplanes were becoming more efficient. The Great Depression from 1929 to 1939 negatively affected American society, children and economy.
Society was constantly changing …show more content…
“Nearly every one of the 751 investment trusts operating at the New York Stock Exchange was fatally wounded by the events on October 1929” (Aaseng 74). Not only did wealthy individual investors take overwhelming economic hits, but investment firms also found themselves in deep economic trouble. Later that year by mid-November some of the largest and most trustworthy investment firms in New York had declared bankruptcy. Some never got their money back. What made this crash even worse than the one before, was the fact that it severely raised the dollar amount worth. The dollar then was several times more than the one today. These people lost all of the money that they have saved all of their life. They had no choice but to start all over. Banks were beginning to struggle. Before the devastating losses of the Stock market Crash factories all over America were producing far more goods than consumers could buy. This was dramatically changed. “A substantial portion of the population, suddenly with far less money to spend than just a few weeks before, had to cut back considerably on spending, further reducing the demands for goods. Thousands could not afford to pay for what they had already purchased on credit” (Aaseng 83).The sharp drop in the amount of consumers buying hit hard in the automobile industry. Sales were collapsing just as their inventories were full. The demand for cars dropped so low that Henry Ford had no choice but to drop his prices drastically, but still they had trouble selling. Congress tried to prevent as much foreign competition as possible by placing a high tariff on their imports. However the countries that were exporting these goods reacted by also placing a high tariff on American goods coming into their own country. This made U.S products unaffordable overseas and eradicated markets that

Similar Documents

Free Essay

History

...historical context which of these two sources is more valuable at explaining the impact of the Great Depression on Germany? [25 marks] German artist Lea Gruding recalls in her autobiography that the unemployed suffered massively during the great depression not only financially but mentally, having no job to go to anymore. This source was published in 1964, 35 years after the Great Depression making it a secondary source. Some may argue that due to it being a secondary source it is less reliable as it wasn’t written primarily at the time and could differ from the actual events that happened during the Depression. It also maybe exaggerated. Despite this however Gruding doesn’t use statistical evidence which means even though this source could be exaggerated it is not numerically exaggerated. This source on the other hand from historical knowledge is fairly accurate and so is useful because what happened in Germany during the time is represented accurately. It’s true the Weimar Republic was devastated by the Wall Street Crash of October 1929 and the Great Depression that followed. The Crash had a devastating impact on the American economy but because America had propped up the Weimar Republic with huge loans in 1924 (the Dawes Plan) and in 1929 (the Young Plan), what happened to the American economy impacted the Weimar Republic’s economy and society due to them being so dependent on American loans (the USA was also Germany’s biggest trading partner which affected Germany massively)....

Words: 860 - Pages: 4

Premium Essay

Progressive Era

...turning points in the Progressive Era.   During this time there were two groups that pushed and furthered the cause of women’s suffrage.   The National American Woman Suffrage Association (NAWSA), founded in 1890, and the National Women’s Party (NWP), founded in 1913 and led by Alice Paul (Schultz,2012,pg.341-42).   The second major historical turning point in this era I will discuss is the Stock Market Crash of October 1929.   The Stock Market Crash of 1929 devastated the economy and was a key factor in beginning the Great Depression. Analyze the impact of the two (2) or more major historical turning points selected on America’s current society, economy, politics, and culture. The Women’s Suffrage movement had a major impact on society, economy, politics, and culture.   In 1920 the Nineteenth Amendment was passed and women won the right to vote (Schultz, 2012, pg.342).   The enfranchisement of women was the largest expansion of the voting population in American history, significantly increasing the American electorate.   This movement opened many doors for women; they now knew that they had a voice and the right to speak on political issues within the government and allowed them property rights.   The stock market crash of 1929 caused fear and panic throughout the country and resulted in the beginning of the Great Depression.   All aspects of the economy were affected by this downward spiral in the stock market; it caused many banks and businesses to fail and have to fail for...

Words: 3734 - Pages: 15

Premium Essay

The Great Depression

...The Great Depression me Institutional Affiliation Date The Great Depression Duignan, B. (2013). The Great Depression. New York: Rosen Pub. The book highlights information concerning the great depression. The author argues that the great was a period that was characterized by severe hardship which affected every person. The time did affect not only the poor but also the rich. It was also marked with various changes in the world politics. The book stresses that the primary cause of the great depression was the 1929 market crash. The writer argues that the U.S was the most troubled nation in the world. It changed the country’s popular culture and its government institutions. It also affected other industrialized states as they suffered a decline in the wholesale prices. The book states that various moves that were made so as to deal with the issue of Great Depression. For instance, one of the moves was the devaluation the States currency. The first state to recover was Britain as it was forced off the gold standard early. The book underlines the causes of the great depression and its impacts. The source also offers information concerning the significant steps that were taken by different countries in dealing with the issue. The book provides clear information about the Great Depression. The author divides the book into various sections where he starts off by giving a short introduction to the topic. It helps a reader to have...

Words: 2391 - Pages: 10

Premium Essay

How Did The First World War Affect America

...Name: Professor: Course: Date: U.S in the 20th Century 1. World War I and American Life. Explain the impact of World War I in America. Consider various social, economic and political changes in the country during and right after the war. Do you think these changes were caused by the war? War brings changes to every country. The American significantly transformed life after World War I. the country faced social, economic and political changes, which were felt both the negatively and the positively. First and foremost, it goes without saying that the population was increased since there were immigrants who were coming into the country with new ideas and new experiences. Therefore, the society was very vibrant. On the negative, there was a significant effect of othering that caused a rift between the immigrants and the local population; therefore, there were many differences. The economy of...

Words: 1864 - Pages: 8

Premium Essay

Why Did The First World War One Break Up In The Progressive Era

...should not attack passenger ships in the Mediterranean Sea and North Atlantic Ocean. In February 1917, the Germany violated this agreement which annoyed the US government. Second, the Germany government had written a letter advising Mexico to attack the US. This letter was intercepted by the British, and when the United States received it, the Congress declared war against the Germany forces. The First World War was debatable war in America because there were conflicting pubic opinions. On one hand was German Americans, who were with the German government. Most of the Americans with British and France, on the other hand, origin supported the Entente forces and wanted the US to fight against the Germany. Therefore, President Wilson feared that the war would divide the country....

Words: 1433 - Pages: 6

Free Essay

From Boom to Depression

...Running head: A new deal to recovery From Boom to Depression HIS105: Contemporary U.S. History May 10, 2012 From Boom to Depression The period after the civil war was a time of physical, economic, social, political and geographical reconstruction for the United States of America. The nation had experienced mark destruction by the civil war. Slaves were now emancipated and must be considered. These events were marked turning points for the country. Of these turning points, the social security act and the 19th amendment were most influential in that they initiated an act of government that is still practiced today. 1. Identify at least (2) two major historical turning points in the period under discussion. The 19th Amendment The woman’s fight for their own equality and for others was not an easy one. It can be traced as far back to the first woman’s right convention in Seneca Falls, New York in July of 1848. It was here that the woman suffrage movement was launched and the National American Woman Suffrage Association (NAWSA) was born. Some of the key sponsors for the launch were courageous women such as Elizabeth Cady Stanton and Lucretia. Contributors to the movement were also abolitionists, whose goals at the time were to include equal rights for all, including that of the Negro male. In 1870, their fight was partially won with the passage of the 15th amendment to the Constitution, thus giving the Negro male the right to vote. The passing of the...

Words: 1962 - Pages: 8

Premium Essay

Great Depression

...Great Depression The Great Depression had a tremendous effect on the people of this Dark Age in the United States. Throughout these tough times people faced many hardships such as increases in crime, the stock market crash and the Dust Bowl. These events were all results of the Great Depression and also had huge impacts on people’s lives. Beginning of the Great Depression The Depression began in the year 1929 and was a result of the ending of the First World War. The United States was sending aid to Europe in recovery but this resulted in an over extension of credit and spending in the 1920’s. This over extension was a direct cause that led to the “most dramatic economic event in United States history”. No other depression had such a devastating impact on the United States society. Throughout the twelve years of the Great Depression, one quarter of the work force were unemployed, 5,500 banks closed and 32,000 businesses went bankrupt (“Great Depression”). Stock Market Crash On the infamous day known as Black Tuesday, October 29, 1929 the stock market crashed. The only thing was that no one was thinking anything could go wrong because a little over a month before the market had reached a 10-year high price. From then on the prices slowly decreased causing confusion, apprehension, and uncertainty began to set into all investors big and small (Galbraith 1). A couple of days before Black Tuesday a day known as Black Thursday was when people really started to notice...

Words: 1167 - Pages: 5

Free Essay

Progressive Era Through Great Depression

...Progressive Era through the Great Depression For this assignment I will discuss the major turning points in American history between the Progressive Era and the Great Depression. Analyze how some historical events shape America’s current society, economy, politics, and culture. Describe ways that women and minorities have responded to challenges and made contributions to American culture. Recognize and discuss the ways that formal policies of government have influenced the direction of historical and social development in the United States. Analyze the rise of the United States to a world “super-power” and how that status has shaped its internal developments in recent decades. Identify how changes in social and economic conditions and technology can cause corresponding changes in the attitudes of the people and policies of the government. Identify at least (2) two major historical turning points in the period under discussion. The first major historical turning point was the changing roles of women. Women won the right to vote with the Nineteenth Amendment in 1920, one of the final great reforms of the Progressive era. A group of congressmen proposed an Equal Rights Amendment to the Constitution in 1923. It states: “Men and women shall have equal rights throughout the United States and every place subject to its jurisdiction” (Schultz, 2012 p.379). The amendment’s objective was to eliminate all legal distinctions between the sexes, such as those who permitted different...

Words: 1284 - Pages: 6

Free Essay

Roosevelt and the Social Security Act

...University Roosevelt and The Social Security Act Franklin Delano Roosevelt was greatly influenced by the events of The Great Depression to pass a series of legislation. His most notable legislation that he signed into law was The Social Security Act of 1933. While Roosevelt’s original version of the bill was modified in order to pass congress, he was still extremely proud of its passing. The Social Security Act of 1933 has effected almost every working citizen since being signed into law and has had a profound social impact on our society. Much of Franklin Delano Roosevelt’s presidency was on the passing of this bill. He had enacted a similar state law while he was governor of New York. He experienced pressure to address the issue of older unemployed Americans after the great depression by supporters of Dr. Francis E. Townsend. Townsend advocated that people over 60 should be able to stop working and receive financial benefits from the federal government (Quadagno, 1984). Once Roosevelt signed the bill into law, he performed a speech for the American people. In his speech he stated, “This social security measure gives at least some protection to 50 million of our citizens who will reap direct benefits through unemployment compensation, through old-age pensions, and through increased services for the protection of children and the protection of ill health” (American Rhetoric, 2001). In his speech, Roosevelt was able to appeal to the uncertainty of employment in order to garner support...

Words: 1046 - Pages: 5

Premium Essay

African American Fashion In The 1930's

...Fashion of the 1930’s In the 1930’s fashion was at its peak. The fashion showed the elegance and beauty of the United States during a time of depression. During the 1930’s, fashion began to have a ready to wear mentality. The United States was just beginning the Great Depression and trying to adjust to a life with very little. The American people had to find cheaper ways and places to buy and manufacture clothes, especially after the stock market crashed (Dudbrige). Most of the inspiration for the fashion came from films which impacted the culture (Lewis). Most of the designers that designed for these films were located outside of the country where the bulk of the fashion industry was located (Lewis). In the 1930’s, fashion impacted the country...

Words: 919 - Pages: 4

Premium Essay

Bvmnm

...Analyze the impact of the Atlantic trade routes established in the mid 1600s on economic development in the British North American colonies. Consider the period l650-1750 Analyze the cultural and economic responses of two of the following groups to the Indians of North America before l750/ British, French, Spanish Compare the ways in which religion shaped the development of colonial society in 2 of the following regions prior to l740/ New England, Chesapeake, Middle Atlantic How did economic, geographic and social factors encourage the growth of slavery as an important part of the economy of southern colonies between l607 and l775? Compare the ways in which 2 of the following reflected tensions in colonial society/ bacon’s rebellion, pueblo revolt, salem witchcraft trials, stono rebellion To what extent had the colonists developed a sense of their identity and unity as Americans by the eve of the Revolution? Dbq Analyze the impact of the American Revolution on both slavery and the status of women in the period from l775-l800 Evaluate the extent to which the Articles of Confederation were effective in solving the problems that confronted the new nations Analyze the contributions of 2 of the following in helping establish a stable government after the adoption of the constitution/ John Adams, Thomas Jefferson, George Washington Although the power of the national government increased during the early republic, this development often faced serious opposition...

Words: 1140 - Pages: 5

Free Essay

Hist 110

...History 110 / Midterm Study Guide During this part of the course we address several different themes that shaped modern America. The first is the importance of the Civil War and Reconstruction in setting the stage for the great industrial growth and development in the late 19th century. The second theme is the impact of industrialization in late 19th century America--economically, politically, socially, and culturally. A third theme centered on the emergence of an aggressive America foreign policy that in general sought to export American values and ideas so as to bring order to the international scene. The fourth major theme is the rise of progressivism in the first two decades of this century. Like the unions and Populists before them, the Progressives responded to the tremendous impact of industrialization and corporate capitalism on American society, however with much more success. A fifth theme centers on the American entrance into World War I and the war's impact on American society and politics. A sixth theme is the conflict over values and power in American society. Different groups (African-Americans, KKK, nativist/anti-immigrant, socialists, women, etc) with their own unique visions of what American society should be came into conflict over whose vision should predominate. A final theme is emergence of a powerful, welfare state in the form of the New Deal which finally addressed in a large-scale and systematic effort the negative consequences inherent in capitalism...

Words: 1041 - Pages: 5

Premium Essay

Great Depression

...Effects of the Great Depression on other countries During the Great Depression there was a worldwide economic decline in government tax revenues, prices, profits, income and international trade. Unemployment grew at high speed and political upturn developed in many countries. While many first think the Great Depression only affected the United States, it largely affected and involved many countries throughout the world. Every country had direct or even indirect ties; both industrialized countries and those which exported raw materials were hurt and affected as a result of America’s collapsing economy. One of the worst-hit was Canada, because of its economic position. The Great Depression that started in the United States in 1929 quickly reached Canada. At the time, Canada’s economy was just starting to shift from primary industry to manufacturing. Exports of raw materials drop, and employment, prices and profit fell in every sector. It was further affected as its main partners were Britain and the United States. Between 1929 and 1939 the gross national product dropped 40%. Unemployment reached 27% at the depth of the Depression in 1933. Canada did have some advantages over other countries, especially its extremely stable banking system that had no failures during the entire depression, compared to over 9,000 small banks that collapsed in the United States. But, at the same time, was hurt badly because of its reliance and other commodities, whose prices fell by over 50%,...

Words: 1524 - Pages: 7

Premium Essay

Compare And Contrast Crucible And Today

...talking about the society of each story and the society of today. Overall how society affects our lives in different ways. The time of each story has a big impact on the society times too. What was okay and what wasn’t okay. How people looked at each other. How society affected one another. The first story was called The Crucible. It was set in the 1692’s time period. The story was a lot about reputation, small town, everybody knows everybody. The second story was The Scarlet Letter. The Scarlet Letter was set in Middle of the seventeenth century time period. Set in Boston, Massachusetts. The third story was Of Mice and Men. In Of Mice and Men was set in the 1930’s. South of Soledad, California was the setting. Again with both of the last stories of The Scarlet Letter and Of Mice and Men everyone knew everyone. In The Crucible it is set in theocratic society. Theocratic means a type of government in which...

Words: 665 - Pages: 3

Premium Essay

Hoover Dbq

...won the election against Herbert Hoover, the previous president, by a landslide. Because of Hoover’s failure to help the US during the Great Depression, the people disliked him. Though FDR was chosen due to process of elimination, he proved he could successfully lead the US. Roosevelt is known for serving the longest time as president, helping the US overcome the largest recession in history, connecting with the citizens of the US, and leading America close to the end of World War II. FDR left his precious country’s side and died during his fourth term as president. His death shocked the nation and he was unable to see his prized...

Words: 1180 - Pages: 5