1.Assuming the Presidency at the depth of the Great Depression, Franklin D. Roosevelt helped the American people regain faith in themselves
2.Speculation involves trading a financial instrument involving high risk, in expectation of significant returns. The motive is to take maximum advantage from fluctuations in the market. Description: Speculators are prevalent in the markets where price movements of securities are highly frequent and volatile.
3.The main cause of the crash was the long period of speculation that preceded it, during which millions of people invested their savings or borrowed money to buy stocks, pushing prices to unsustainable levels.
4.A series of relief programs were designed to provide jobs, in cooperation with local governments. The National Recovery Administration (NRA) sought to stimulate demand and provide work and relief through increased government spending.
5.Farmers Grow Angry and Desperate. During World War I, farmers worked hard to produce record crops and livestock. When prices fell they tried to produce even more to pay their debts, taxes and living expenses. In the early 1930s prices dropped so low that many farmers went bankrupt and lost their farms.
6.More women entered the work force during the economically tough era, but the jobs they took were relegated as "women's work" and poorly paid. During the Great Depression, millions of Americans lost their jobs in the wake of the 1929 Stock Market Crash. ... A large group of women working on sewing machines, circa .
7.On March 4, 1929, at his presidential inauguration, Herbert Hoover stated, “I have no fears for the future of our country. It is bright with hope.” Most Americans shared his optimism. They believed that the prosperity of the 1920s would continue, and that the country was moving closer to a land of abundance for all. Little could Hoover imagine that barely a year into his presidency, shantytowns known as “Hoovervilles” would emerge on the fringes of most major cities, newspapers covering the homeless would be called “Hoover blankets,” and pants pockets, turned inside-out to show their emptiness, would become “Hoover flags.”
The stock market crash of October 1929 set the Great Depression into motion, but other factors were at the root of the problem, propelled onward by a series of both human-made and natural catastrophes. Anticipating a short downturn and living under an ethos of free enterprise and individualism, Americans suffered mightily in the first years of the Depression. As conditions worsened and the government failed to act, they grew increasingly desperate for change. While Hoover could not be blamed for the Great Depression, his failure to address the nation’s hardships would remain his legacy