And What I Say Essay

This essay has a total of 565 words and 3 pages.

And What I Say

The Great Depression lasted from October 24, 1929 until the economic recovery of the
1940s. On October 29, Black Thursday, the stock market crashed heavily, and continued to
fall sharply throughout the coming weeks. As a result, the United States and the world
were thrown into a decade of poverty and unemployment. The depression affected all sectors
of the economy. Farm owners and agricultural workers suffered from falling crop prices.
Businesses failed from a lack of investment support and a decline in the ability of the
masses to afford their products. Banks closed their doors as the nation's citizens hoarded
their money and defaulted on loan payments. Unemployment and abject poverty enveloped the
nation.


Herbert Hoover was President of the United Sates at the onset of the depression. His
message to the people was one of continued belief in recovery, even in the face of
worsening conditions. Though he eventually sparked some government action in an effort to
curb the effects of the depression, he believed in the power of the economy to right
itself without government intervention. The situation did not improve, and dissent grew
throughout the nation. Hoover lost the presidency to Franklin Roosevelt in the 1932
election.


FDR quickly shifted from a stance of non-intervention to a government policy of regulation
Continues for 2 more pages >>




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