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Facts Behind The Great Depress
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Although the Prohibition controversy was absorbing, public interest in the first year of the Hoover administration became diverted by an event that shook the very economic foundations of the nation, namely, the stock market panic of 1929. The United States had enjoyed a boom after World War I, in w ....
Middle of essay
....illion.
The Great Depression
The stock market panic preceded an economic depression that not only spread over the United States but in the early 1930s became worldwide. In the United States, despite the optimistic statements of President Hoover and his secretary of the treasury, Andrew W. Mellon, that business was “fundamentally sound” and that a new era of prosperity was just about to begin, many factories closed, unemployment steadily increased, banks failed in growing numbers, and the prices.... |
| Number of words: 585 |
Approximate pages: 3 |
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