The Great Depression Or Dirty Thirties

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The Great Depression, or Dirty Thirties was a global, economical and environmental disaster, that eventually led to the second world war. The great depression was caused by multiple events. From abuse of the stock market to banks operating on empty promises; the decade long downfall had set its course. During this downfall a climatic calamity happened, The Dust Bowl. Thus creating a very dirty, defeated decade. The great depression started after a Wall Street stock market crash on October 24th of 1929. This was the first day of a decade long downwards spiral. On October 24, 1929 a record breaking 12.9 million shares were traded. Then on October 29, five days later, another record breaking 16 million shares were traded. These days where known…show more content…
Banks operated on empty promises to their clients. There were few regulations, banks lent money to reckless people investing in the stock market, who later disappeared into debt due to having borrowed money invested in the stock markets when it met its demise. Farming also added to the depression. Agriculture prices were high in 1910-1920 with a bizarre amount of wet years. In the 1910’s wheat prices were high. With the addition of generous federal land policies. A land boom was created. Some farmers, dubbed as ‘suitcase farmers’, started farming for a quick profit. By the end of the twenties nearly 5.2 million acres of first nations grassland had been turned into wheat fields. When the depression hit farmers would abandon their fields leaving miles of acres barren, empty and dry. Europeans started buying fewer American products, which resulted in the drop of the world commodity prices. Creating an abrupt drop in economic demand and credit. Which led to swift failure of world trading and unemployment. In 1929 nation wide unemployment rates were 3%, in three years time it had increased twenty percent. Now America’s unemployment rates sat at 23% while a heavy drought brought an even worse…show more content…
Roosevelt was quick to help every American. Roosevelt was the first president to serve 4 term, inaugurated in 1932. After only 100 days in office he had passed a bill that served to create jobs, balance agricultural and industrial production and inspire recovery. He reformed the financial system by creating many programs; one being the ‘Federal Deposit Insurance Corporation’ that dealt with protecting depositors accounts. “Securities and Exchange Commission’ was also put in place by Roosevelt and its purpose was to prevent abuses in the stock market by regulating it, to hopefully avoid another huge crash. Roosevelt's wife, Eleanor Roosevelt, was also very famous, one reason was for her program ‘National Youth Administration” that gave many students access to part time
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