Instant Access To 100,000+ Essays!

The Great Depression was that worst economical problem the United States had ever experienced. After what seemed to be boundless prosperity in the 1920s, many Americans were totally shocked at the thought of an economic slump. The Depression was a time of trial and transgression. The effects of it touched all areas of American life. Though many factors played a role in the Great Depression, one always stands out: the Stock Market Crash of 1929. When Herbert Hoover became President in 1928, the attitude of the American people was a very positive one. The people were confident in their economy and in their government. Many Americans had experienced prosperity in the last decade, and believed that it would continue. On January 1, 1929, an editorial in the New York Times stated, “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 will be one of felicitation and hopefulness.” Not all Americans were included in the “wonderful prosperity”, however. Farmers, coal miners, and textile workers were poverty stricken during the 1920s due to low prices. Many American workers couldn’t even afford to purchase the items they helped