Major Events of the Twentieth Century

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Chauncey M. Hollie

November 27, 2001

HIST 222 , SECT 6

Major Events of the Twentieth Century

     There have been many devastating events throughout the history of the United States.  The American people, though strong in appearance to the rest of the world, have had their share of deadly blows and knockdowns that have affected generation after generation.  Three of these horrendous events have happened in the twentieth century alone.  They include; The Great Depression of the 1930’s, followed by World War Two that drew U.S. involvement in 1941 with the bombing of Pearl Harbor, and then the Vietnam War, one of the most controversial conflicts in United States history, which began in 1965.

     The Great Depression, which resulted in, bank runs, bread lines, and wild currency speculations, was the worst economic crisis in American history.  The depression of the 1930’s was mainly caused by the unequal distribution of wealth throughout the 1920’s and the speculation of the stock market in the late 1920’s.  The imbalance of wealth among the wealthy and the middleclass, combined with market crash, created an unstable economy and caused it to collapse.

     In 1929, 80 percent of Americans had no savings, while the top 0.1 percent controlled 34 percent of all savings.  The Great Depression had little effect on the wealthy as they continued with their travels, parties, and purchases of collectibles.  On the other hand, the depression was very hard on the poor, as they got poorer.  Insecurities of income caused extreme strain on family life.  From 1935 to 1939, the birth rate fell below zero, marriages fell by 25 percent, and divorces declined, mainly because of the cost of legal services, alimony, and child support.

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     The other factor in the Great Depression was the stock market crash of 1929.  On October 29, nervous stockholders sold 16,400,000 shares and by the end of 1929, the stock market cost investors nearly 40,000,000,000 dollars.

     After the crash, the country sank steadily into the worst depression in history.  Banks failed, factories and stores closed, governments could not collect their taxes, and foreign trade came to a near halt.  President Hoover assure the public that better times were right around the corner, but conditions grew worse.  6,000,000 Americans lost their jobs by the end of 1930, ...

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