Therefore, small banks that gave the loans failed and big ankhs lost millions of dollars. In Industry, people bought all they could and factories produced too much so the companies had to lay off workers and the unemployment rate soared. The stock market then crashes because banks Invested peoples’ money In the stock market, but all of the money was gone.
Everyone lost billions of dollars. After all of this had happened, the final cause that made everyone go crazy were the banks falling. The farmers couldn’t pay back loans. The factories couldn’t pay back loans.
The stock markets crashed. People were going to the banks and demanding for their money, but by the time they got there, the doors were already shut. Everyone thought, “What do we do now? We had lost everything we have lived for. ” During this time period, there were many horrific problems Americans had to face. Americans had become unemployed and could no longer afford to live in their homes. The individuals that lost their jobs and homes often moved into places called hoverflies. They were old, small, cold, and poorly taken care of homes that were made of scraps.
When the government failed to provide relief, President Hoover who was elected in 1932 to get the Americans out of the Great Depression was blamed for the intolerable economic and social conditions of the hoverflies. Great amounts of children died from starvation and malnutrition and some adults even killed themselves under the pressure because they could no longer take the Great Depression. They suffered a great deal. Many people ended up moving during the Great Depression to find a place more suitable for them.
After everyone had realized hat the Great Depression was doing to them, there were some things that started to change. Programs were made, people put in effort to change the society and world around them. People were taken out of poverty and like drastic lives Americans were living and facing. The Civilian Conservation Corps (ICC) was created to provide work for men between the ages of nineteen and twenty five. They were able to help national and state parks preserve the environment. Along with the ICC, the Agricultural Adjustment Act was formed. It hired people to build post offices, schools, ND public buildings.
Americans became artistes and painted murals In buildings. The Tennessee Valley Authority (TVA) was another program that helped Americans recover from the Great Depression. It provided work to build dams In rural areas for cheap electricity. As a result to all of these programs being made, the unemployment rate started to decrease and peoples’ lives started to go from terrible to somewhat normal again. There were a bunch of Individuals that also put time and effort Into helping Americans get out of this major crisis. President Hoover, for sure was one of he many people who helped.
He was completely unprepared for the task of guiding encouraged Americans not to panic and promised there would be no recession. Franklin Roosevelt main goal was to end the Great Depression. His New Deal programs and policies focused on the three Or’s: relief, recovery, and reform. Despite the fact that he was in a wheelchair his charm did much to convince Americans that they had “nothing to fear but fear itself. ” After the depression, Roosevelt successfully led the United States through World War II, was reelected to an unprecedented Ruth term in office.
Hey Long created a plan called “share our wealth plan. ” He believed in taxing the wealthy to give the money to the poor. He also wanted to limit the amount of money rich people had because he thought of it as unfair. Francis Townsend made a plan but it never went into effect, it didn’t pass Congress. He called it the pension plan. He wanted retired Americans to receive two hundred dollars each month to spend. Charles Slouching criticized Fad’s money and banking policies and wanted the government to nationalize the banks.