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The Great Depression Essay: The Horrible Historical Years

In: Popular topics February 13th, 2018

The Great Depression essay

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The essay of the Great Depression is a way to discover all the horrible events of that period

Each of us heard about such a period in history as the Great Depression. The event that influenced millions of people.  A period, that demonstrated to us that there are some situations when people should be strong and fight until the end in order to survive. The Great Depression is a world economic crisis that began in 1929 and lasted until 1939. 10 years of continuous struggle and a lot of human victims, who were forced to starve and who earned a little money doing hard and exhausting work. This period has affected a number of countries, including Germany, France, Canada, the United Kingdom, and the United States. Although other countries are mentioned, this period refers mainly to the United States. During the Great Depression, many industrial cities suffered from the enormous losses, because there was no money to construct new buildings and departments. A lot of people who worked as the builders lost their jobs. Furthermore, a large increase in unemployment leads to a shortage of funds and the prices for all food products fell by an average of 50%. The economists and many people who are engaged in market research have not established the true reasons why such a tragic event was appeared and shocked the whole world. The main prerequisite for this period is Wall Street Crash of 1929, which lasted for 5 days: from October 24 to October 29, when the stock market crash occurred. In this post we will look at many theories about the Great Depression, and also we will explore the most influential events of that time more profoundly. By the way, if you are interested in other important events of the 20th century, you can read the Cold War essay, which also describes many interesting and significant political questions of that time. Well, we will consider all the events of the 1930s, which had a significant impact on the development of the American culture and not only. If you want to read about culture more deeply, look at the interesting post where you can find something new and expand your personal knowledge: http://puressay.com/blog/culture-essay-definition-development-forms

The causes of the Great Depression can be explained by many factors that took place at that time. The main problem that affected the collapse of the economy was a large number of goods that were produced and which made the entire market full. The capitalism, as well as all private business was out of the control of the state, so much was produced so that people simply did not have the opportunity to acquire it for themselves. Proceeding from this, an unprecedented collapse of the market occurred. Also, there were some financial frauds, such as stock trading. This method was used by many companies throughout the United States. All the companies bought up the shares, invested in them, which led to the fact that the whole thought-out process collapsed and thereby all the shares depreciated drastically. These two factors are considered to be the most important tremors to the beginning of the Great Depression and the decline of the American economy. There are a number of causes and interesting events of the Great Depression that are worth considering. Proceeding from these points, it can be understood that the US economy would fail in any case, because in all the areas of the internal policy there was some kind of carelessness or bad regulation of the country's reserves. Of course, not all the points are too significant in this situation, but these problems somehow led to the destruction of the USA internal economic system and to the depletion of the monetary resources. A lot of people faced the poverty and had to struggle everyday against thirst and hunger. Many people were forced to use candles in order not to freeze from the cold, because they hadn’t got an opportunity to pay for utilities during several months. Such events really shocked the population and the government of the USA at that time. If you want to learn more about such a problem as poverty and get know something new about the scope of its occurrence, read the essay about poverty, which is so informative and will help you understand the matter profoundly.

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If you have to write «The causes and effects of the Great Depression essay», don’t forget to tell about the President Hoover’s role in that influential time for the USA

As we know, there were many other reasons for such a difficult period for the country. The 31 President of the USA Herbert Hoover and the government of the country faced a series of failures in the economic system, which it was impossible to overcome even in five years. By the way, the President is still criticized by many people for his inability to rule the country honestly and justly in such a difficult period for the United States: http://puressay.com/blog/essay-on-honesty-is-honesty-really-necessary. In January 1932, out of his initiative, the Congress decided to establish a financing reconstruction corporation to issue loans in order save the railway stations, banks, some construction associations and other financial institutions. Hoover refused to aid the unemployed people and vetoed the law passed by Congress on rendering direct assistance to the individuals. Working hours weren’t expanded and there was no opportunity to employ the citizens. In July 1932, the number of unemployed reached 12 million people, but the President insisted that direct federal aid leads to the demoralization of the citizens. The necessary decision was to intensify the budgetary redistribution of income from the rich people to the poor people in order to stimulate the consumption and equalize the economic stability. The maximum income tax rate was increased from 25 to 63%. A large part of the public considered his position as cruel and inhuman, and the reputation of Hoover as a successful manager also came to naught. By the way, in our Popular Topics section, you can find many interesting posts that tell about significant historical events, as well as famous personalities.

Essay about the Great Depression

Proceeding from this, we will consider several significant reasons for the onset of the Great Depression, the sphere of their influence, and also find out why such a difficult economic crisis was so inevitable.

1. World War I. Since the First World War was the reason for the considerable investments in the military operations and other supplies to maintain the country at that time, many military orders were made and the economy was adapted to this process. But, obviously, after the end of the war, the number of the orders and production of weapons fell sharply, which led to the instability in the turnover of money and large cash losses in all the areas of the economy of the country. Thus, it can be said that World War I not only affected the population and the government of the USA morally, but also reduced significantly the United States economic ability. Don’t forget, that you can ask the essay editor online if you need to write an essay on such a historical event of the 20th century: http://puressay.com/blog/get-help-from-the-online-essay-editor-to-write-successfully

2. Smooth – Halley Tariff Act. This law was signed by President Hoover in 1930, despite a number of things that cast doubt on him. This law provided an increase in the duty rate for more than 20,000 imported goods. 1,028 American economists were against this law, but the President considered this decision as very useful for the economic situation. As one would expect, a number of European states responded to Hoover's decision in the same way and also introduced a duty on American goods that were imported to Europe. This failure led to the fact that the US economy reached a peak of the economic decline in those years. According to the official statistics, total imports to the US fell from 4.4 billion in 1929 to 1.5 billion in 1933, while US exports fell from 5.4 billion to 2.1 billion, which hit the country's GDP in the strongest way. Imports from Europe fell from 1.334 billion in 1929 to 390 million in 1932, while US exports to Europe fell from 2.34 billion to 784 million. Canada introduced new increased tariffs on 16 products in 1930, American exports to Canada equaled 30% . Furthermore, Canada strengthened the cooperation within the framework of the British Commonwealth. France and Great Britain were dissatisfied with the decisions of the US government and began to develop a foreign trade with other countries, as well as Germany, which entered into the cooperation with USSR. So, if you need to write an essay on this topic, you can check some free samples to structure your works correctly: http://puressay.com/blog/puressay-offers-free-essay-examples

3. Rapid Population Growth. At that time there was a fairly natural increase in the population, on average about 3 to 5 children per family were born, which was a good indicator for any country. But, America had very progressive medicine, which helped overcome serious illnesses and thereby increase life expectancy. The natural decline in the population decreased significantly and the monetary losses also influenced the country. Also, don’t miss to read very interesting essay about family to expand your knowledge in this area, because it can be so useful for you: http://puressay.com/blog/essay-on-family-family-traditions-and-values

4. Gold reserves of the country. In those days, the US Federal Reserve System had a bad policy regarding money. In the USA, there was an oversupply of gold reserves, which altered the reserves of other countries. The system was not viable and the lack of a natural turnover of money also led to the collapse of the economy and the subsequent crisis of the country's economy. Many economists considered gold as a reliable way to keep the economy from the inflation, because they thought that such a system would lead to the stability. However, the deficit of payment causes a decline in the production due to the liquidity crisis and breaks all the visible economic processes. By the way, if you have to write a thesis about economic system in the USA, you can contact our professional writers to help you with it: http://puressay.com/blog/thesis-writing-services

5. Keynesian economics. Keynesian economics is a macroeconomic trend that emerged as an economic theory which explained the causes of the Great Depression in the United States. At that time, the gold reserve was the most popular way to invest money. At the same time, the production grew, new types of products appeared, such as cars, airplanes and radio. As a result of the limited money supply and the growth of the commodity mass, strong deflation arose-a fall in prices that caused financial instability, the bankruptcy of enterprises, and non-repayment of loans. A powerful multiplicative effect hit even the growing industries. If you need to learn some economic features and don’t have an opportunity to spend a lot of time on it, check the essay on learning and succeed!

To sum up, it should be said that the US economy was surrounded by many factors that destroyed it. Many people could not even prevent such a development of the events. Many of these factors changed significantly lives of the country's population, and therefore led to the terrible consequences, which have to be mentioned.

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In this essay on the Great Depression we are going to explore the consequences and the particularities of the fight against the crisis in the country

The consequences for the USA, as well as for other countries, were simply appalling. Among them we can distinguish a reduction in the level of industrial production, which according to the data was identical to the situation which was 30 years ago, at the beginning of the 20th century. Also, it is worth highlighting the high unemployment rate, which reached 30 million people for several years. Also, other branches of the country were affected. Many farmers, traders and middle-class people lost a lot of their properties and were so poor. As previously noted, one of the causes of the Great Depression was high fertility and a low death rate. During the crisis, the situation has changed significantly and the percentage of child births has significantly decreased. Moreover, almost 90% of children suffered from hunger and exhaustion, which demoralized the population. Many banks became bankrupts and almost the whole system was collapsed. Some existing banks tried to avoid loans to save their assets, which also became a big failure for the USA and other countries as well. As might be expected, many workers arranged the strikes, because they were unhappy with the state of things. Many of them were subjected to the repression, which also caused not the best mood among the population. For 4 years, the USA economy fell by 31% and half of the banks simply ceased to exist. These were the consequences of the crisis of the Great Depression. Don’t forget that you can turn to the best online essay creator, if you need to write some complicated works, the professionals offer only the best help!

At that period, the Presidential administration tried to take decisive and urgent measures with regard to the internal economy of the country, but the society considered that President Hoover was a bad leader and his measures were too weak for such a state of the affairs. The Presidential elections of 1932 were approaching and Hoover's opponent was Franklin Roosevelt. Roosevelt defeated Hoover and established the power of the Democrats in the Congress. If you have to write an essay about Roosevelt’s life, check the essay examples free to make your working process easier. The new Roosevelt Course appeared and the President invented a series of the economic reforms that were supposed to resolve such a difficult situation for the country. Some people consider that some of these reforms were really effective, some influenced the society and a few of them were really failing. It was a matter of the leadership and the perseverance of the President at a time that was important for a country like the USA. The essay on leadership explained the features of this concept.

In the Great Depression essays, we should notice the anti-crisis measures and the reforms of President Roosevelt

1. Banking system. Roosevelt decided to close all the banks that could function only after obtaining the permission from the special government agencies. If there was a possibility of its functioning, the state helped him to work again. For many economists and political figures, this meant that Roosevelt had the right to nationalize the banking system. The opportunity to control all the banks was considered as the most correct and obvious solution at those days. But, the President decided that it was necessary to restore the private system so that it could function and help restore the USA economy.

2. The reforms in the industry. The government decided to settle all trade issues and establish fair competition. This was done in order to stabilize all prices, production, etc. The government adopted a law that restored the industry and created a market of equal competition between entrepreneurs. This law helped create the basics of the labor relations and the workers could work according to the rules which were based on a mutual agreement. The reforms also influenced the farmers. The government decided to raise the prices for agricultural products, the farmers were forced to stop sowing a new crop. All of them could receive the compensation from the authorities. As expected, a large amount of grain, livestock, dairy products were destroyed. These actions led to the tragic consequences. In addition, this also happened at a time when the threat of hunger was increasing every day. Get the narrative essay sample if you want to write about difficult events professionally and interesting!

3. Public works. Since 1935, the expansion of the program on public works began. By that time, unemployment reached 12 million people. In addition, citizens were not provided with any social assistance in the event of job loss and people could stay absolutely without money. Moreover, in most families only one member of the family worked, the father, which also complicated the situation. The main task of the government was to take as many people as possible who were unemployed. It was not even talking about any buildings for the benefit of the city or the country, it just needed working hours for people. So, this reform became really important for the Americans. The citizens built many schools, stadiums, roads, stations, railways, etc. A lot of people were involved, who had such professions as architects, engineers, builders, etc. Everyone had the opportunity to get at least some income from such work. Many musical and theater theaters also functioned, which also inspired people. After all, one of the most important and significant laws for America was adopted. It is about the introduction of unemployment benefits, as well as pensions, which became the most important unit of the American society. Then, a law on hiring was created, where there were certain terms of the contract and the number of working hours.

To sum up, it should be said that many reforms were really effective, many were absolutely disastrous, but the crisis lasted until 1939. In many respects, the Second World War, which began in Europe, played a large role and thereby pulled the economies of the countries out of such a precipice. But, as we know, all the reforms adopted by Roosevelt in the 1930s became the foundation of American society and the economy. A lot of means of regulating finance, banking relations were created. The executive branch changed completely. The new forms of life in society were introduced. The main achievement of Roosevelt's course can be considered the creation of the origins of the modern country and the policy course set by him. The Great Depression is a period that left a mark on history, including the history of the USA. Also, don’t miss a chance to read the essay about George Washington, another influential figure in American history. Many people and American citizens will always remember that time as one of the hardest for the country for the entire period of existence. But as we know, willpower and the desire for life always exist and will be the main keys to the victory of mankind.

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