Stock market performance depression

The world seems to be crashing on you and there is no place to run. This disaster was the start of the Great Depression, which lasted for 12 years and ended at the onset of World War II in Stock Market Crash of started the Great Depression. In response to the devastating effect of the Great Depression, a series of economic programs was adapted by the US in Called the New Deal, the program was enacted by Congress during the 1 st term of President Franklin Delano Roosevelt It concentrated on the 3 Rs: It means relief for the poor and the jobless, recovery of the economy back to normal and reform of the financial system to avoid depression and encourage people to invest in the stock market again.

This party based its platform on liberal ideas, big city machines and empowering the labor unions, ethnic minorities and the white South.

Some of the opposition Republicans supported the program while others were non-supportive claiming that such program is destructive to business and development. By the time that Franklin Delano Roosevelt was inaugurated as President in , one fourth of the entire American population was unemployed.

Stock Market Crash of - Facts & Summary - qoxoxoxiqel.web.fc2.com

The jobless had almost no money left to spend leading businesses to gradually decline. At the peak of the Great Depression, there were more than 13 million people unemployed.

The Road Back From the ’29 Crash Wasn’t So Long, After All - The New York Times

More and more people rely on the government and charity to feed their families. The Civilian Conservation Corps CCC offered young men between 18 and 25 years to work in camps administered by the army.

A Public Works Administration PWA gave employment for skilled construction workers on a wide variety of projects.

The Federal Emergency Relief Administration FERA distributed direct relief to hundreds of thousands of people, usually in the form of direct payments. Agriculture was greatly affected during the Great Depression. After the massive crash of the stock market, prices were declining very fast. In the spring of , the agricultural sector was on the verge of disaster.

In the United States, 25 percent of farmers and 37 percent of all nonfarm workers were completely jobless. Some people had nothing to eat; many others lost their farms and homes. Homeless individuals climbed aboard freight trains that were crisscrossing the nation. Cotton farmers dispossessed of their farms; packed their bags and drove their dilapidated Model Ts all the way to California hoping that the posters about plentiful jobs were true.

Government funding was available to help displaced people endure the Great Depression; however, what took place altered the future of agriculture for years to come. Some government programs helped them to live through the s but this changed affected the future of agriculture forever. Farmers have to contend with the dust, insects, heat of summer and cold of winter.

Families are deprived of heat, light, indoor bathrooms and other facilities; and the necessity of raising their own food. They consisted of farmers, professionals, retailers, and others. Eventually, they were competing for seasonal job with very low pay. Many ended up performing seasonal jobs like picking crops at extremely low wages. By , nearly six million farmers were receiving federal subsidies. Industry suffered with the economic crash of to In the United States, the indicator of industrial production dropped from one hundred in to fifty-five in , the largest plunge compared with all previous industrial economies.

During , President Herbert Hoover motivated industrialists to maintain wages, to schedule working hours, and to provide an investment plan to tide workers during the expected short duration of the recession.

In , The National Recovery Administration NRA was established and with the help of the National Industrial Recovery Act NIRA , tried to control heated competition by establishing codes of fair competitive practice to produce more employment and encourage more buying. The NIRA secured the right to bargain as a collective group through the use of labor unions to represent the individual workers. National Labor Relations Act disallowed employers from unfairly interfering with union activities; with the National Labor Relations Board which supervises bargaining and negotiation of the organization, the election of organization administrators, and makes sure that workers have the right to choose the organization that represents them in dealings with employers.

In the economic planning aspect, the First New Deal was inadequate so the government and the private sector deemed it necessary to move to the Second New Deal. This program was a compilation of legislation in focusing on the goal of economic security for all.

Emergency Relief Appropriation Program Act which required government to be more aggressive in giving employment, to be labor intensive, pay a security wage and not compete with the private sector. It also created these acts: Rural Electrification Administration, National Youth Administration, Resettlement Administration and Work Progress Administration.

Wagner National Labor Relations Act extended long term security to labor. It was described as the balance of power between American capital and labor. Despite the serves of legislative initiatives, the Depression continued. To relieve the pressure, President Roosevelt proposed a new set of economic and social measures intended to fight poverty, create more work for the unemployed, and provide a social safety net.

Roosevelt won a second victory in over his Republican opponent. The republican was supported by the business and middle class citizens from small towns and suburbs.

The Great Depression - The Stock Market Crash and Beyond

His formidable political alliance withstood several decades. The citizens wanted the government to assume the responsibility for the welfare of ordinary people.

The New Deal laid down the foundations of the modern welfare state in the United States and President Roosevelt, had established a new standard of mass leadership. At the onset of World War II, the Great Depression came to its final end.

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