Great_Depression

Great Depression 1. The Great Depression The Great Depression was all the more shocking because it came after a decade of unprecedented prosperity. It affected all areas of American life, especially American confidence. When the stock market crashed in the fall of 1929 the nation began to sink deeper and deeper into depression as business increased profits while holding down wages and increasing prices of raw materials. This depressed consumer purchasing power which in turn meant less profit for businesses who than had no other choice but to cut jobs. When the stock market crashed it revealed serious structural weaknesses in the financial and banking systems. High American tariffs during the 1920’s had reduced trade throughout the world and a reclining Europe and market all had serious affects on American economies. The federal government might have prevented the stock market crash and the Depression by more careful regulation of business and the stock market. Herbert Hoover was the president at the time of the great depression. Hoover the great planner and progressive efficiency expert did not sit idle; he gave speeches about how the economy and its structures were in great shape. He also passed many acts and started many new programs to try and bring war, new, american, deal, work, economy, depression, world, people, market, jobs, japan, ii, great, women, stock, second, passed, over, days, confidence, back, americans, acts, two, took, serious, roosevelt, prosperity, programs, later, involved, germany, first, federal