Table of Contents Overview Beginning inthe United States saw one of the most dramatic upheavals in its history, in just a few short years the nation crashed precipitously from the prosperity and glamour of the Roaring Twenties to the desperate hardship and poverty of the Great Depression. Never had the highs been higher or the lows been lower. Even today, nearly every survivor of the Great Depression can still recall the feelings of hunger and desperation. The Great Depression in the United States also caused a major worldwide depression, as virtually every industrialized economy—Britain, France, Italy, Germany, Japan, and others—was brought to its knees in the s.
The Republican Congress, for example, passed the Esch-Cummins Transportation Act in to deregulate the railroads and return them to private control.
Furthermore, the conservative Supreme Court reversed their previous Adkins v. This reversal came just after the ratification of the Nineteenth Amendment inwhich granted women the right to vote.
As a result of the resurgence of political and economic conservatism, big business reigned supreme once again, and labor movements dwindled. Coolidge was then elected to another term in the three-way election of Harding, for example, negotiated the Five-Power Naval Treaty in to reduce the number of American, British, and Japanese battleships in the Pacific.
The Roaring Twenties The Roaring Twenties ushered in an exciting time of social change and economic prosperity, as the recession at the end of World War I was quickly replaced by an unprecedented period of financial growth.
The stock market soared to unimaginable heights, buoyed by the so-called second Industrial Revolution of the turn of the twentieth century, which saw the development of new inventions and machines that changed American society drastically.
For example, industry leader Henry Ford developed the assembly line, which enabled mass production of the automobile—the invention that changed the nation more than any other during the era.
The car helped give rise to suburban America, as thousands of middle-class Americans left the congested cities for nicer communities in the city outskirts.
The airplane, radio, and motion picture ranked with the automobile as popular new inventions of the time. At the same time, a new age of American literature blossomed in the s. The Red Scare and Immigration Restrictions This social revolution of the s was not without its darker side.
Sudden changes in the social fabric spawned a reactionary backlash in the name of preserving American heritage, tradition, and culture. The Red Scare of —, in which hundreds of socialists were persecuted, was just the first instance.
Anticommunist and anti-immigration sentiments notoriously culminated in the infamous Sacco-Vanzetti Trial of In the trial, two Italian-born Americans, both atheists and anarchists, were convicted of murder and executed even though there was no hard evidence that they had committed the crime.
These new laws began fourteen years of Prohibition, in which the consumption, sale, and manufacture of alcohol were made illegal under U. Not untilwhen the Twenty-First Amendment repealed Prohibition, was alcohol once again legal. These fundamentalists lost a great deal of credibility, however, after being humiliated on national radio during the Scopes Monkey Trial of Furthermore, the revamped Ku Klux Klan reemerged as a powerful new conservative, Protestant force while still continuing to intimidate and preach hatred against blacks, Jews, Catholics, and immigrants.
Hoover and the Crash of Elected president inHerbert Hoover, a popular administrative hero of World War I, promised more prosperity and more boons for big business. Hoover tried to remain true to his word even after the stock market crashed on Black Tuesday in October He promised that the recession resulting from the Crash of would be brief and that prosperity was just around the corner.
Rather than offer a helping hand, however, Hoover and congressional Republicans passed the even higher Smoot-Hawley Tariff indriving the average tariff rate up to almost 60 percent.
The Depression Begins The American economy quickly slipped into recession and then plummeted headlong into the greatest depression the nation had ever experienced.
The Great Depression in the United States had a widespread ripple effect throughout the world, soon leading to economic stagnation and widespread unemployment in virtually every industrialized nation. Despite the worsening economic plight, Hoover still refused to provide any direct federal assistance to relieve the suffering.
Capitol demanding economic relief. The first thing Roosevelt did was to declare a national bank holiday so that banks could reopen the following week on more stable footing. The Emergency Banking Relief Act also gave the president control over exchange rates and all banking transactions.
The Second New Deal Criticism from both conservatives and liberals prompted Roosevelt to push a second wave of New Deal legislation through Congress from toin a collective package known as the Second New Deal. This legislation included the sweeping Social Security Act to provide government pensions to the elderly, the Indian Reorganization Act to allow Native American tribes to own land, and the Soil Conservation and Domestic Allotment Act to help farmers.The Great Depression Summary & Analysis.
BACK; NEXT ; Life After the Crash. The Great Depression plunged the American people into an economic crisis unlike any endured in this country before or since. The Great Depression was one of the most annihilating fiscal catastrophes the United States has of all time seen. (Poverty and the Government in America.
) “Until the Great Depression. poorness alleviation was seen as chiefly the duty of metropoliss and provinces.
The Great Depression was a severe worldwide economic depression that took place mostly during the s, The analysis suggests that the elimination of the policy dogmas of the gold standard, a balanced budget in times of crises and small government led endogenously to a large shift in expectation that accounts for about 70–80 percent of.
The Great Depression: A Brief Analysis Brenna L. Shedd AIU Abstract There were many causes of the Great Depression, some of which include “The Great Crash” of the stock market, lack of spending by the average person, the Smoot-Hawley Tariff Act and a massive drought in the Mississippi Valley.
May 10, · Watch video · The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from to It began after the stock market crash of October , which sent Wall. The Great Depression was the worst economic slump ever in U.S. history, and one that spread to virtually the entire industrialized world.
Banks, stores, and factories were closed and left millions of Americans jobless, homeless, and penniless.