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The Depression - Online Term Paper

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 ...

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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 Corporat ion (RFC) and the Home Loan Bank Act, also didn’t make much difference. ...

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The Depression. (2004, July 11). Retrieved April 18, 2024, from http://www.essayworld.com/essays/The-Depression/10845

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"The Depression." Essayworld.com. July 11, 2004. Accessed April 18, 2024. http://www.essayworld.com/essays/The-Depression/10845.

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PAPER DETAILS

Added: 7/11/2004 03:36:28 AM
Category: American History
Type: Premium Paper
Words: 761
Pages: 3

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