The Great Depression - today, because of events of the past...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
The Great Depression William Shepardson A plethora of events led to The Great Depression of the 1930’s. Among those events include the fact that “an average of 100,000 people lost their jobs every week” (Davidson, Gienapp, Heyrman, Lytle & Stoff, 2006). This significant loss of jobs led to millions of families to become homeless. In addition to loss of employment, (increased unemployment rate), also meant that Americans severely limited their spending as there was far less money to spend with vendors, stores, etc. which led many businesses to fail, go Bankrupt, including Banking Institutions. Life savings were depleted and many Americans lost every tangible possession and struggled to survive. Banking Institution failure led to account holders losing their life savings. Fortunately
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: today, because of events of the past such as the Great Depression of the 1930s we have Federal laws which guard against such events that lead to the Depression such as the FDIC program which ensures that monies deposited into banks will not be lost which was the case in the 1930s. Historians and the like will differ in exact causes of the Great Depression however significant events such as the Stock Market Crash of 1929, Banking Institution Failures as well as the reduction of spending on behalf of American citizens undoubtedly led to the Great Depression. Reference Davidson, J., Gienapp, W., Heyrmna, C., Lytle, M. & Stoff, M. (2006). Nation of nations: a Concise narrative of the American Republic (4 th ed.). Boston, MA: McGraw Hill....
View Full Document

This note was uploaded on 04/24/2011 for the course HIS125 9021314933 taught by Professor Doreenpauley during the Spring '09 term at University of Phoenix.

Ask a homework question - tutors are online