In 1929, America experienced the greatest economic recession in modern history. This financial crisis was referred to as the Great Depression. However, it soon became more widely known as ‘The Wall Street Crash’, due to the colossal failure in American stock markets it represented.
After the first world war, public investments had quickly risen. This was conducted with the intention of increasing the monetary value of the dollar. Unfortunately that did not occur. Instead, the stock markets became increasingly unstable, as further investment appeared, and soon after the markets faced an inevitable collapse. This created a public frenzy, as individuals flooded the banks, asking for their money. This chaotic dash prompted banks to follow the market's collapse.
The absence of banks quickly led to a deterioration in the American economy. This became evident by civilian actions. People hung plastic wrap and clean film over their laundry lines so that they could be reused. They grew crops from the planters outside their windows to nourish themselves, and soup kitchens soon appeared all around the country. Everyone knew where their local soup kitchen was. Every day, people would line up by the hundreds in the hope that they would receive one meal that day. However, many were not that fortunate.
Another response to recession was the creation of ‘Shanty towns’. These towns were created to act as temporary settlements for those without a home. Dwellers lived in small huts, built from scrap materials and whatever else could be found on the streets. The American people were enraged, and one man was to blame, President Hoover. This hatred was reflected in the naming of these towns as the majority were named after the president himself. Demonstrating the disrespect and contempt the American public had directed towards him.
The entrance of President Franklin D.Roosevelt came as a breath of fresh air. His solutions inspired prosperity, and the situation appeared to be improving. But then the dust bowl hit.
The Dust Bowl was series of dust storms that spread across the country, killing vast fields of crops. It began in the Midwest. The Great Plains, where once all the farming had taken place, where generations of farmers had previously prospered, became five feet of soil separated from the earth. Static electricity would build within the dust, winds would violently blow, and the dust would form huge collections of clouds. Over the next couple of years, these clouds would travel east to reach New York. The country continued their economic decline. This became the longest economic crisis throughout the 20th century.
Writer: Irina Wilderotter
Editor: Alexandra Jimenez-Hope
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