Friday, 10 April 2015
blogger #5
In the 1930's the stock market crashed and created the great depression, there's different explanations for the crisis, and some blame the uneven distribution of wealth and purchasing power in the 20's. whatever it is the economy was not prepared for the crash. Most people coped with the depression by going to food banks. There was no insurance or compensation for the employed, so when people stopped earning they had to stop spending which made it even more difficult to deal with the depression. One other way that helped people out was one man named Herbert Hoover but he said that solving such problems was not really the federal governments job. Most of the solutions he suggested were voluntary. He asked the state governments to undertake public work projects, he also asked big companies to keep workers' pay steady, and asked labor unions to stop demanding raises. The crisis worsened and soon unemployed people did whatever they could, like standing in charity breadlines and selling apples on street corners, to feed their families
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I really like how you said that the economy wasn't prepared for the crash. I totally agree because it kinda of came out of nowhere.
ReplyDeleteTry to keep your focus on Canadian history. Herbert Hoover was the American President at the beginning of the depression.
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