The Great Depression in America Essay -- essays research papers

The Great DepressionIrving Fisher, an economist at Yale University in 1929, confidentlystated, The nation is marching along a permanently in high spirits plateau of prosperity. Less than a week later, the bottom dropped out of the short letter market sending the American economy toward its worst downfall in history. The Great Depression was not only responsible for a spectacular change in the structure of American politics, but also for a change in Americans expectations about g everywherenment. The Depression affected all Americans, ample or poor, and was responsible for ushering numerous social problems into the lives of citizens.Herbert Hoover was elected hot seat in 1928. Prior to his election, during his acceptance speech for the Republican nomination, he stated, We in America to twenty-four hours are nearer to the final triumph over poverty than ever before in the history of some(prenominal) land. The poorhouse is vanishing from among us. many Americans shared Hoovers opt imism in the beginning of 1929. On January 1, 1929, The sore York Times printed an editorial reading, It has been twelve months of unprecedented advance, of wonderful prosperity. If there is any way of judging the future by the past, this new year forget be one of felicitation and hopefulness.Later that year, on Tuesday, October 29, the market crashed. This day is known as Black Tuesday and is considered the single most devastating financial day in the history of the New York Stock Exchange (NYSE). Prices...