Boom to bust Pain

Economy

The photo on the left shows the great depression and the photo on the right shows the 1920's

During the 1920's, economy was booming. There was so much money in the system, nobody had doubts. Many people invested in the stock market and many people made loans. Although everything seemed great, as the years went on, people started to realize something bad was going to happen and tried to cash in their stocks as soon as possible. When the stock market crashed, the economy went into a downward spiral. Many businesses started to close and layoff there workers. The unemployment rate increased 25%. There were many cutbacks in pay and hours. The people most affected by the crash were stockbrokers and bankers. When the crash hit, many stockbrokers were not able to collect their debt and went into bankruptcy. As people went as fast as they could to get there saving out of the bank, banks were unable to give people back their money due to unpaid loans. The banks owned bad investments in the stock market. During the great depression, the economy took a turn for the worst.

Role of Government

The photo on the left shows FDR's new deal during the great depression and the picture on the right shows Hoovers role as president during the 1920's

During the 1920's, the role of the government was very little. Laissez faire policy was still in affect and everyone thought it was working fine. President Hoover was a terrible president who would not do anything to help the country. When the great depression hit, people started to panic and Hoover did nothing. Over 1000 soldiers marched to the white house and demanded their pay but Hoover barricaded himself in the white house and sent military force to stop the soldiers. Once FDR came into office, people had hope, He removed the Laissez faire policy and promised American people he would come out with the new deal. In the new deal, there were 3 words he followed, recovery, reform, relief. The groups most affected by this were the Business owners and industrialists. During the new deal, business owners got little to no help at all. They disagreed to some acts proposed and fought the system. Industrialists also did not benefit a lot out of the new deal. They also fought the system.

Home Life

The photo on the left shows a once wealthy family, struggling to survive during the great depression. On the right, it shows a wealthy family during the 1920's

During the 1920s, home life was very good. Families were very wealthy and they had everything they wanted. Kids were able to attend great schools, Mothers went out with friends and bought many things, and husbands worked hard. When the great depression hit, things changed. Many families lost their homes and money. Kids were not able to attend school anymore and fathers got laid-off. The woman and men were affected a lot during this time. Many women became very poor and had to take care of there kids in dirty areas. Woman struggled to get jobs because so many men took them. Many of the men left their families and went to Hoovervilles to work and get money. These Hoovervilles were very dirty and the conditions were rough. The great depression destroyed families hope and happiness.

Created By
Jake Reda
Appreciate

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