The Great Depression

stephaniemorris26 By stephaniemorris26, 6th Feb 2012 | Follow this author | RSS Feed | Short URL http://nut.bz/1-lz4ejj/
Posted in Wikinut>Writing>Essays

The events that lead to The Great Depression and how they compare to the recent recession

Stock market crash!

The Great Depression essentially began with the stock market crash on October 29, 1929, also known as Black Tuesday. On this day the DOW lost %90 of its value, and the stock market as a whole lost %80 of its previous value. People who had money in the stock market tried to sell what stocks they had, but nobody would buy them. This caused most investors to go bankrupt.

Unfortunately that was only the beginning of the money problems. Since the banks also had invested large sums of money into the stock market, many of them were forced to close when it crashed. This caused a panic across the country. People worried about losing their savings quickly went and withdrew what money they had, causing even more banks to have to close. Since there was no way for customers to retrieve their money once the bank had closed many people did not get to their money in time causing them to go bankrupt as well. It is estimated across the 48 states that some 7,000 banks failed in the 4 years of the depression.

The Dust Bowl

Farmers who were usually safe from the effects of depression found themselves just as hard hit as everybody else. When all else failed they could at least feed themselves and their families. But unfortunately along with the stock market crash came the Dust Bowl.

Droughts and dust storms ravaged the Great Plains. Years of overgrazing along with the effects of the drought cause all the grass to disappear. The exposure of the topsoil combined with high winds created horrible dust storms that would blow for miles. These dust storms destroyed everything in their path leaving farmers with no crops, no money, and no way to feed their families.

The real stories

Of course the real information comes from the accounts of the people who actually lived through these horrible times.

There are many accounts of grown children finding themselves having to move back in with their parents, much as today, bringing their newly formed families with them.

Mothers had to learn how to take old ragged hand me down clothes and turn them into decent outfits for their children to wear.

People had to invent dishes to feed their families, some consisting of nothing but stale bread, beans, and dandelion greens.

There are also stories of kids being sent to the grocery stores to beg for bones for their dog, only to take them home and have their mother make a soup from them to feed the family.

The recession today

Many of us are struggling in much the same way as they did 80 years ago. Only I must say it is not near as widespread or economically devastating as it was then. I think honestly if most of us took a good look at our lives now compared to then we would realize we have it made. I could not imagine being a parent and watching my children go hungry knowing there was nothing I could do. Just the feeling of helplessness these people must have had saddens me. But even with everything they had going against them, they rose up and did what they had to do and they pulled through it, as we will now.

In the words of someone who lived it Toledoan Edna Hanson " Our strength came from a deep sense of what was right and wrong. To this day, most of us follow these lessons learned in a difficult time of our lives: Help each other. Don't hurt each other. Share what you have. Pull together. If you follow that advice from another time, your life will be better." Very wise words I say, and exactly the way I was raised.

I will leave you all with this to think about. If everyone would follow this advice, stop being so selfish, and help their fellow man, would there be near the problems there are now? I believe if maybe that %1 would help the %99 this country could be a great place again!

Tags

Bankruptcy, Black Tuesday, Drought, Farmers, Farming, Money, Recession, Stock Market, Stock Market Crash, The Dust Bowl, The Great Depression, The Great Plains

Meet the author

author avatar stephaniemorris26
I am a stay at home mother from beautiful North Alabama. I have 3 wonderful children.12 yr old twin girls and my 2 yr old niece.

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Comments

author avatar Jerry Walch
6th Feb 2012 (#)

An excellent overview of a gloomy period of american history, Stephanie.

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author avatar Peter B. Giblett
6th Feb 2012 (#)

An excellent overview of a nasty period of world history. Every family will have personal stories from those times - I remember my father telling me many from his youth. This recession that we have been living through will also have many stories that will be passed on.

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author avatar Denise O
6th Feb 2012 (#)

I agree with Jerry & Peter's comments. In a sense I do disagree with you though. I think it should be 100% of the people, helping each other. A great page. Thank you for sharing.:)

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author avatar stephaniemorris26
6th Feb 2012 (#)

Oh I agree Very much Denise I was just making a point. I do not have very much myself but I help anyone I can. What most people do not understand is that sometimes all someone needs is one kind gesture to get them back on the right path!!

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author avatar Carol
7th Feb 2012 (#)

Very interesting article and pics Stehanie, many thanks

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author avatar Delicia Powers
10th Feb 2012 (#)

Very timely, an amazing page thanks stephanie....

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author avatar GV Rama Rao
5th Apr 2012 (#)

Informative. Don't worry as the US economy is on the mend and showing growth. If only the Republicans don't stymie Obama's plans you would be better off.

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author avatar jennyreeve
9th Apr 2012 (#)

A very good article. Wonderful writing.

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author avatar stephaniemorris26
10th Apr 2012 (#)

Thank you very much! :)

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