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depression

depression The economic depression in the United States in the 1930 was a unique and consequences. During the depression one American worker out every four was out of a job. The Fall of industrial company continues through out the 1930. There were serious economic weak spot, a chief one being a depressed were such in the agricultural sector. Also depression were such industries as coal mining, railroad, and textile thought the 1920. U.S bank had failed an average of 600 per years had thousand of other business firm. By 1928 the construction boom was one. The rise in price on the stock market from 1924 to 1929 bare little relation to actual economic conditions. In fact the boom in the stock market and in real estate, along with the expansion in credit and high profit for a few industries, concealed basic problem. The U.S stock market crash that occurred in October 1929, with huge losses, was the cause of the Great Depression, although the crash sparked and certainly market the beginning of the most traumatic economic period of modern time. By 1930. the slump was apparent but few people expected it to continue previous financial panics and depressions had reversed in a year or two. The usual forces of economic expansion had vanished. As business fail increased and unemployment soared and as people with dwindling income had to pay their creditors it was apparent that the U.S was The deepening depression continue with the distress of million of people who lost jobs, home, and savings from 1929 to 1932 approximately 11,000 U.S banks failed and about $ 2 billion in deposits was soon gone. Agricultural distress was intense farm price fell by 53 percent from 1929-1932. There were even more problem during that summer droughts was a major problem. Farmer from the central state have to move out seeking for a job due to the dust storm that was occurring in their state such as Texas, Oklahoma, and The devastating disaster of the dust bowl, the dust bowl created a dust storm that was consist of dirt and many other particle in the storm. This cause the lake, stream, and river not to be useful because of the dust that was in it. The dust bowl force families out of their home to find work and a new life elsewhere. Many families moved to California .The people in the dust bowl imagined California as a haven of jobs where they can have nice home and as many as fruit as they can eat. The dream was far from reality the migrant farmer face many problem on their way to California. At first leader believed that the depression was temporary. Hoover quickly called meeting of key men in industry and received assurances that they would avoid laying of labor and cutting wages. He urged the state to create jobs throughout public work. He encourage drive by local community chest and other charities He took the position that direct aid to the unemployed was the duty of the local and of private charities. Federal relief, he would be political control, while direct would be individual initiative. In 1932 banks were on the verge of collapse and unemployment was approaching 25 percent . Hoover urge Congress created the Reconstruction finance Corporation (FRC) to lend money to banks, loan, associations, insurance companies, and railroad. During his term RFC lent more then 2 billion dollar to aid corporation and industries. Hoover was still blame for the resulting collapse of the economy, and his unpopular policies brought an end to brilliant in career in public office. Hoover remained a leading critic of the New Deal and spoke person of the Republican party. The depression of 1930 was mainly blame on Pres. Hoover and his plan to end the depression. The depression was blame on Pres. Hoover because Hoover felt that the depression would not last long only for a matter of time but he was wrong. The depression lasted for years. Hoover oppose government intervention to ease the mounting economic distress, let the people find their own way out of the depression. This cause many problem because this is a time when the people strongly relay on the government for help and Bibliography:

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