Causes of the Great Depression

There are many different thoughts behind the have got of the enormous Depression. One of the biggest misconceptions is that the stock market jampack was the biggest culprit. In this essay I will dish antennas not single the stock market crash but in like manner new(prenominal) events that led to the crash and things that may have had a large impact than the crash itself. I will also discus some of the attempts clean and Roosevelt tried to implement to battle the crisis of the Great Depression and also some of the other solutions that were proposed. One of hoovers advisors Andrew Mellon suggested in the beginning of the crisis liquidate everything. His plan was to exclusivelyow the depression run its course sell off everything that could be sold and assay to ride it out. This was not taken intimately by Hoover; he stated that America needed to use all of its resources to get the country out of this depression. Hoover called all major business leaders to Washington to try and persuade them to not cut wages; profits should be the first thing to go he said. He also asked them to increase capital investments and federal spending. The stock market crash of 1929 was a devastating blow to the American economy, but the virtue is that only 2.5 percent of Americans owned stock. This did not single handedly incur the great depression.

The increased amount of debt, corrupt financial practices, drouth conditions in the Midwest, and high tariff rates on goods all played a bigger role in Americans twinge the great depression. In1930 a draught also known as the dust bowl was of such severe proportions that many of the farmers in this area could no longer pay off their crops. This led to the farmers change off their land for no profit and in revoke defaulting on loans they had used to purchase equipment, seed, and other tools necessary to sustain their farms. This also had a major impact on the statistical distribution of food to the rest of the United States since the Midwest produced a bulk of the food distributed to the... If you want to get a full essay, order of magnitude it on our website: Orderessay

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