• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Wall street crash.

Extracts from this document...

Introduction

Wall street crash After the Wall Street Crash in 1933 the American economy collapsed and fell into a state of depression. There were a number of problems in 1933 - all of which stemmed from the slump which followed the Wall Street Crash. The people in America needed immediate relief. A once strong and prosperous country had been reduced to a country living in poverty and grief. The Americans were not used to this type of life style and they were not prepared for it either. The Americans needed to be rescued from the depression and they needed it immediately. Also because of the depression, millions had lost their jobs and could not find work anywhere else. A solution was needed which would help working men & women . Because of the disastrous consequences that the depression had, welfare schemes were needed as a backup which would prevent and 'cushion� the effects of future depressions. ...read more.

Middle

Within the '100 Days� relief program, there was also a rapid program of legislation which would help solve the country's problems. were the AAA, & TVA and various other However not everything went as Roosevelt planned. Unemployment was down in the mid-1930s but it shot up again in 1938 which showed that Roosevelt�s solution was not permanent. However, unemployment went back down in 1940 because there was a great demand for war goods due to the problems arising in Europe. Farmers were also having problems. Their prices were better but the problems such as 'dust bowls� and poor crops were still there. The depression returned to America in 1937/38. Even though Roosevelt�s New Deal had some success, it had a lot of opposition. The republicans and the rich opposed the New Deal for many reasons. They opposed the increase in the power of the federal government over the states because they thought that the individual state leaders were being forced into using Roosevelt�s schemes. ...read more.

Conclusion

Long called for heavy taxation of the rich and in total confiscated over 5 million dollars. His 'Share our wealth� scheme, long claimed, would give each American family $6000 to spend. Even though Roosevelt�s New Deal had so much opposition, overall, it was still popular. Roosevelt aimed to please the poor and the working class and they all thought he was a saviour. His popularity was proved in the 1936 Presidential elections when he won with 61% of the votes. He was voted for again in the 1940 presidential elections. This shows that the public opinion was behind him The USA certainly did benefit from some of the schemes from the New Deal. Production rose from 1933 until the war in 1941 and unemployment fell rapidly. (There was a dip in both production and unemployment in 1937, but this was only temporary). However, the government had to borrow heavily to achieve this. The real recovery of the U.S. economy came with the Second World War. Because of war production, unemployment was at it�s lowest ever. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE USA 1919-1941 section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE USA 1919-1941 essays

  1. Describe the effects of the Wall Street crash on the USA by 1932.

    To make things worse for farmers, over farming drought and poor conservation turned millions of acres into a dust bowl, which gave farmers little option but to leave their 'desert' lands. Unemployment was also a big problem. Because of overproduction, money had been spent on goods which could not be

  2. What were the causes and the consequences of the wall street crash

    the problem was that they were not welcome and people put signs on the border saying "okies go home no relief available in California". They'd travelled over 1500km in search of jobs and all they got was hatred. President Hoover stayed out of the whole situation and like a business

  1. The crash (causes and consequences of the Wall Street Crash)

    The cycle of international debt Europe could not afford to pay back the loans and US tariffs made it worse as they could not export to the USA. Therefore, they could not earn money to pay back loans. US loans to Europe meant that it was in effect paying their own debt back.

  2. The Wall street crash

    An example of this is ''buy now pay later''. This was used on many consumer products to get many buyers to buy consumer goods such as electrical appliances. The problem was that not the full value for the product was paid immediately but paid over a period of time.

  1. The Wall Street crash, the great depression and its how it affected the lives ...

    One such industry that was overproducing was that of the farmers. The problem was that with their new combine harvesters and more efficient machinery they found themselves managing, in some cases to produce two sets of harvest. They then suffered after having enjoyed success during and just after the war

  2. DID THE WALL STREET CRASH CAUSE THE GREAT DEPRESSION

    it, even when the companies reduced the prices even less then the goods were worth they could not sell it. So in the end the companies had to shut down. All of the factors mentioned above led to the Wall Street Crash, which in turn led to Great depression.

  1. Did the Wall Street Crash cause the depression?

    Another important long term factor is overproduction. This was made worse by inequality and people being "blinded" by the boom. I believe that once again overconfidence and government action are to blame. Overproduction started taking place during the late 1920's and it meant that once people had bought their radios, cars and household appliances, they did not need anymore.

  2. After the Wall Street Crash in 1933 the American economy collapsed and fell into ...

    a strong and reliable money system would build up confidence in the Americans, which would act as a foundation for the American economy. In 1933 Roosevelt proved to the Americans that the promises he made before he was president were not just 'vote winners� because he started to help straight away.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work