The Depression

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Term Paper Title	The Depression
# of Words	684
# of Pages (250 words per page double spaced)	2.74

The Depression

Imagine for a moment, waking up one day to find
yourself on a
dirty floor, a pile of rags, or maybe even the street.
You look down at
yourself to find you're wearing the same clothes you
wore yesterday,
except they are completely filthy and have lots of
holes in places like the knees and elbows.  You have
no access to a
mirror to show you what you look like so you go to
touch you hair with
your hand and find it to be a pile of grease and dirt
that obviously
hasn't been washed in days, maybe even weeks.
You get up and start to head for work, or school,
only to realize you
have no place to go.  The pain of hunger eats away at
you, but you just
ignore it knowing that there is nothing for you to eat
and you have no
money to buy any food.  You have no job, no money, no
family, no hope.
Welcome to the Depression.
The 1920's was a time of great prosperity in the
lives of most
Americans and our natural human ignorance made us
think it would stay that
way forever.  We had just come out of the Great War
and business was
booming, along with agriculture and the stock m arket.
The outlook for
the future was great, but people failed to understand
that economies can't
be on the upswing forever, it has to come down
sometime.  All of the signs
of a depression were there; the farmers were producing
too much, the
uneven distr ibution of income, easy credit/huge
debts, imbalance of
foreign trade; people just didn't notice them.  Not
until October 29,
1929--BLACK TUESDAY--anyway, when the bottom of the
stock market fell out,
taking millions of American lives with it.  Even thoug
h any didn't admit
it, they knew what was on the way.  People who had
been buying stocks on
margin (10% down) suddenly found themselves penniless
and in bigger debt
than they could imagine.  America went into a panic,
pulling money out of
banks in a frenz y causing many to close their doors.
President Hoover tried hard to make the times better
for the
unemployed first by setting aside almost $800 million
for public works
like the now Hoover Dam.  Conditions, however, failed
to improve.  His
other policies, the Reconstruction Finance Corp...

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