The Great Depression Essay -- American History

The Great Depression The Big Picture The Great Depression was the longest and most severe economic decline in American history. On October 29, 1929, the stock market crashed and began the depression. Although industry leaders issued optimistic predictions for the nation's economy, the market crash wiped out nearly 40% of the paper values of stocks. Great innovations in productive techniques during and after the war raised the output of industry beyond the purchasing capacity of U.S. farmers and working force. As a result of this, unemployment skyrocketed during the years of the Depression, reaching levels as high as one third of the population. Almost half of the commercial banks of the United States failed during the Depression. Crop prices fell by over fifty percent. People went hungry because so much food was produced that production became unprofitable. Others were unemployed because they had produced more than could be sold. Hundreds of thousands roamed the country in search of food, work, and shelter. Huge numbers of Americans had their lives upset by the Depression. Homelessness, poverty and despair characterized much of the nation in those days. Many of those who could not provide for their families, in larger cities as well as smaller towns, committed suicide to put an end to their troubles. Small Town Life The depression was not limited to the confines of large cities, it spread like a disease throughout our great nation. It even managed to find its way into the small town of Oakesdale, Washington. Frances Taylor, a mere child at this time clearly remembers the events that took place. "As children, we weren't really aware of what was going on. We simply didn't understand the concept of being poor." Many fam... ...ovided the initial 63 million dollars for the project to begin. "My father found work by being part of the construction of Grand Coulee Dam. He would stay on the site while our mother took care of the children back in Oakesdale. He would send the money back to support the family." The Grand Coulee Dam would provide many jobs for the unemployed as well as be used in the upcoming war. It was used primarily for irrigation at first, but as the war progressed it was changed to produce more electricity for the Northwest's aluminum industry. The beginning of World War II would prove to be the factor that directed America out of the Depression. How ironic, that such a horrifying event could spur an economic rejuvenation. The Depression was a trying time, America was at a loss for words and money, but as a nation, we pulled together and got through the worst of the worst.