Essay On The Great Depression

The Great Depression was one of the worst periods in American History, with millions of Americans becoming prominently poor. It began in 1930, and lasted for about 15 years, making it the longest depression of recent memories. The entire world saw a significant decrease in their economy, and it originated in the United States. This took place once the stock prices fell, which ultimately resulted in the stock market crash of October 29, 1929. This day became known as Black Tuesday for its devastating effects that affected the poor and the rich alike. With the stock market crash, personal income declined significantly, the government was collected significantly less money in taxes, and unemployment rates increased to as high as one third of the population. There are a number of main causes for this incident, and various reasons for why it lasted so long. One of the causes of the Great Depression is the decline in construction and agriculture. Prior to the stock market crash, there appeared to be a boom in construction that took place in 1918. This large construction boom had been helping the economy significantly, and it would ultimately lead to its downfall. After rising throughout the years,