|Stock Market Crash 1929|
The Stock Market Crash of 1929 was the most significant crash in U.S history. Although the crash itself only lasted four days, it led to a catastrophic sell-off.
On October 24 1929, "Black Thursday" ,markets in New York City plummeted and lost 11% of its value at the opening bell on very heavy trading. Vast number of people were selling their stocks. Crowd gathered outside of the New York Stock Exchange on Wall Street,stunned at the downturn. The next morning, the recovery of the stock markets shocked people and they started buying stocks at what they thought bargain prices.
|Americans gathered in Wall Street|
Four days later, the stock market fell again. On October 28,"Black Monday", more investors decided to get out of the market and loss 13%. The next day,"Black Tuesday", October 29, a huge drop and the worst day of the crash. About 16 million shares where traded.The crash followed a speculative boom that had taken hold in the late 1920s, which had led hundreds of thousands of Americans to invest heavily in the stock market.
|New York Stock Exchange Trading floor|
Over the four days of the stock market crash, the Dow dropped 25%, losing $30 billion in market value.
The crash led to the Great Depression. During the depression, unemployment rose to 25%, wages fell 42%, economic growth fell 50%, and world trade plummeted 65%.
|Dust bowl covered the American prairies with thick plumes of eroded topsoil|
This caused a major agricultural and ecological damage, rendered of millions of acres in farmland useless in American History. A period of severe dust storms that made a profusion of farmers suffered through a long period of time.
|Man walking in a pond that suffered from drought|
|Cracked, dried soil and dusty wind covered the prairies and farmlands|
Drought is a disaster for many Canadians who farm in lands to make a living. It dried up all the land, same as wetlands, like ponds. Dusts would sifted under their goggles and blackened their skin.
|Farmers suffered because of the grasshoppers|
Infestation is inhabitance of pests in quantities large enough to be harmful or threatening to lives, property and economy. Grasshopper Infestation can damage crops, destroy organic materials, and carry diseases.
|Grasshoppers in the Farmlands and Prairies|
Farmers suffered in Grasshopper infestation because it severely damaged and destroyed the crops. Because the grasshoppers were so thick, they often clogged the radiators of cars and made the roads slippery. Livestock, like Chickens and Turkeys ate the insects which gives a foul taste to the meat and eggs.
|Grasshoppers destroying plants|
When the headline of Montana Magazine said,"Clouds of migrant hoppers came riding the wind from the southeast. They boasted population of 40-500 hoppers per square yard", it became one of the most notable grasshopper invasion in the 1930s.
|Young men at Work Camps|
Because of the depression, families relief were cut off. Young men left their homes to find a job and to reduce the burden in their families. Bennett set up a Work Camps to prevent the growing unrest of wandering mass of young unemployed men.
|Men at work (Slave Camp)|
|unsanitary work camps|
Many unemployed workers were seeking for a job in order to earn money for living. During the Stock Market Crash and the Drought in the prairies, many people lost their jobs and suffered.
|Unemployed workers in Britain queuing outside the union building|
Unemployment among Canadians in the Great Depression reached an estimate 30% of the work force. During that period there aren't any unemployed insurance and "safety net", so those people who don't have jobs are asking for it.
Bennett did not hear the voice of the unemployed workers. The depression of the unemployed and of industrial workers followed a period of economic breakdown that produced distress and confusion to millions of people. Unemployment rate went up really high and led into poverty.
|Children in Poverty|
In the late 1930s, people suffered from great depression which led to poverty. Not enough food to eat because of scarcity caused by drought, lack of clothes to wear because of low wages in work.
Being poor were not considered as an important matter. And much more was written about rich and powerful. Because of the breakdown of the Stock Market value, the unemployment rate were really high which many people suffered and starve. And since the government did not provide unemployment insurance, lost jobs quickly translated into homelessness and extreme poverty.
|The Migrant Mother|
"The Migrant Mother", a weather-beaten woman with a desperate and sad look in her face because of hunger. Her children was leaning into her shoulder and an infant on her lap. People sold their tents in order to buy foods because of starvation. A photograph that shows so many emotions due to the great depression in America.
Canadian government introduced "pogey" which actually gave rise to our modern day welfare system. However, many requirements had to be met before receiving a pogey and it was only offered to those who are qualified.
|Dole queue after receiving the tickets|
Pogey/Dole actually became a huge embarrassment for it only chooses qualified people to give a credit.
it purposely kept lower than the lowest paying jobs in order to repel as many people as it could.
During the "Great Depression", people were given to acquire goods and services to live. Many Canadians would suffer during that period of time without the sufficient help of our government.
|Ride on Rails|
Thousands of unemployed workers "ride on rails" to go to the East in order to find jobs. A long journey of many unemployed men protesting the dismal conditions in federal relief camps of R.B Bennett scattered in remote areas.
on July 1, simmering tensions of the great depression boiled over in Canada as the police and the unemployed protesters clashed in the street of Regina which led to a Riot. 130 men were arrested during the riot and it was the Canada's worst riot during the great depression.
One protestant had a chance to talk to Prime Minister R.B Bennett about their problems of losing jobs and the brutality in the work camps. The Prime Minister ignored this and the protestant, other unemployed men began to hate Bennett. And because of this, Mackenzie King was re-elected and R.B Bennett, a conservative, eventually lost during the election.
|Great Depression Picture|
In conclusion, the causes of the Great Depression gives an impression to the whole world and especially in the U.S History. Growing unemployment rate, cut-off wages, poverty, and suffering were unforgettable. The Great Depression was the longest and severe economic downturn in American history. To begin with the Stock Market Crash, Drought, Grasshopper infestation,Work Camps, Unemployment, Poverty, Forms of relief and the "on to Ottawa Trek", it was the times of economic hardships, not just for the government but for all the people who got involved during the depression. Huge number of Americans live their lives upset because of the depression.
OAH Magazine of History
Description: Since 1985, each issue of the OAH Magazine of History focuses on a theme or topic of recent scholarship in American history, and provides readers with informative articles, lesson plans, and current historiography. Also part of each quarterly issue is a column entitled, "America on the World Stage," a collaboration between The College Board and the OAH, which seeks to place events in U.S. history into a global perspective.
Coverage: 1985-2012 (Vol. 1, No. 1 - Vol. 26, No. 4)
The "moving wall" represents the time period between the last issue available in JSTOR and the most recently published issue of a journal. Moving walls are generally represented in years. In rare instances, a publisher has elected to have a "zero" moving wall, so their current issues are available in JSTOR shortly after publication.
Note: In calculating the moving wall, the current year is not counted.
For example, if the current year is 2008 and a journal has a 5 year moving wall, articles from the year 2002 are available.
- Terms Related to the Moving Wall
- Fixed walls: Journals with no new volumes being added to the archive.
- Absorbed: Journals that are combined with another title.
- Complete: Journals that are no longer published or that have been combined with another title.
Subjects: History, History, American Studies, Area Studies
Collections: Arts & Sciences V Collection