Black Tuesday: The Cause Of The Great Depression

On October 29, 1929, a disastrous situation happened in the united states and the American stock market crashed abruptly, which people know as “Black Tuesday” (Martin). It caused a lot of problems for the American citizens. Furthermore, the stock market crash was not the only problem during the Great Depression. During the depression, over 9,000 banks failed and droughts caused farmers a lot of problems which caused the depression to start (Martin). Thus, many people struggled just to feed their own families and the livestock if they own a farm. Consequently, people lost their livestock and unable to sell their products from it, which also affects them. Furthermore, the stock market crashed again after two months, which caused it to lose more than forty billion dollars (Martin). This caused the nation to fall apart because they lost money. Likewise in the depression, twelve to fourteen million people lost their jobs and many of them starved (32nd). The Depression put the nation through lose hope, but FDR created the New Deal which helped the citizens regain hope. When Franklin established the programs of the New Deal, he made great progress. For instance, he drastically decreased the unemployment rate from twenty-five percent to two percent over his years as president (Rate). Just looking at this, it seems like a little because of the population in America, but visualize about half of the Texas unable to find occupations. Even though he improved the economic system, many businessmen and bankers disliked the programs he proposed( History). When people carry out the good thing, a lot of people happens to dislike, because of their way of carrying out the situation. This caused unhappiness, hence protesters and enemies arise. The Civilian Conservation Corps (CCC), a public relief program for unmarried men, made the men work under with direct of the army (32nd). Moreover, since the men worked under the army, they went through a routine. This program began in March 1933, and before they changed the name to CCC, it was known as Emergency Conservation Work (Civilian). Furthermore, the program was successful throughout the states and FDR wanted to make the CCC a permanent program in 1937 (History). In any case, since the …show more content…
Furthermore, on May 6, 1933, the executive established the WPA to aid people with useful projects as in occupations.(A and E) (History). This helped the desperate and starved people in need. For instance, at least three million out of ten million famished and jobless Americans gain jobs from the WPA (A and E). Even though three million might not seem like a lot, compared to fourteen million jobless people, but at least the program added three million jobs. Most of the jobs include building fences, and etc…(History). Just building the fences help the society, because this makes less work for the people. For this, FDR quote “ Spiritual and moral disintegration: on destructive to the national fiber” meaning, and not just sitting around and lazing your butt doing literally nothing, while spending your money, work ( History ). In other words, he disdains people not working, so Franklin gives them a job. Furthermore, the Work Progress Administration officially went out of the public eye in June 1943 (History). Above all, one of the biggest programs included