Customer center

We are a boutique essay service, not a mass production custom writing factory. Let us create a perfect paper for you today!

Example research essay topic: Social Security Act Stock Market Crash - 2,567 words

NOTE: Free essay sample provided on this page should be used for references or sample purposes only. The sample essay is available to anyone, so any direct quoting without mentioning the source will be considered plagiarism by schools, colleges and universities that use plagiarism detection software. To get a completely brand-new, plagiarism-free essay, please use our essay writing service.
One click instant price quote

The great depression of the US not only affected people domestically, but internationally as well. It formed modern government in many countries, made drastic legislative changes, and even spurred a major war for many countries. The most influential event in world history after the 1900? s is the great depression because of the decline in international commerce and stock markets around the world, the rise of Hitler, and Franklin D.

Roosevelt? s? new deal? legislation, which changed the United States. The war had left Europe in shambles. WWI ended on November 11, 1918, leaving millions of European soldiers dead and even more injured.

Large areas of Belgium and France had been devastated and two of Europe? s most powerful countries, Germany and Austria-Hungary, were defeated and exhausted. All the European countries were now bankrupt from the cost of waging a war for four years. Germany had not been defeated, but knew that if it continued to fight war against the strong American army, defeat in Berlin would result. Because Germany had surrendered, her only option was to either sign the Versailles treaty, or else go back to war again, which would inevitably result in defeat. The Treaty was unexpectedly harsh, though, despite the fact Germany hadn?

t been defeated, she had merely surrendered. Since all of the wealthy nations inside Europe had been involved in the war since the beginning, they were all but bankrupt. Many repairs were needed all over Europe so the money had to be sought elsewhere. This money was sought in the Americas almost exclusively. Since America had continually been increasing it? s industrial power, it had an enormous amount of capitol to invest as it saw fit.

Many private (as well as federal) institutions began lending money to Europeans in astronomical amounts. In this way, in the 4 - 6 years surrounding WWI, the USA went from a borrowing to a creditor nation. Later, this rapid outflow of money so carelessly was seen as a major cause of declining economy domestically. When the Twenties rolled around, Americans found themselves engulfed in bolstering economy.

In the 1920 s business was an obsession. Economic expansion created booming business profits which in turn raised the standard of living for most Americans. Large businesses were expanding. In 1920, for example, Woolworth had 1, 111 stores.

In 1929 they expanded to 1, 825. J. C. Penney expanded from 312 stores to 1, 395, (Time-Life 102). Small business entrepreneurs took advantage of the good times as they began popping up all over the United States. Americans were moving into a period of economic prosperity.

Even industrial workers, whose strikes for higher pay had availed them little in previous decades, benefited. From 1922 - 1929, the national income was up 40 % from $ 60. 7 billion to $ 87. 2 billion, (Canon 341). The use of labor saving machinery in factories and on farms enabled workers to produce more goods faster and less expensively. This led to higher amounts of production. At some points, the American consumer could not buy the goods as fast as they were produced. Since the economy was in such good shape, many Americans could afford to purchase refrigerators, washing machines, and radios.

Low-income families could afford to buy an inexpensive Model T, which Henry Ford developed in 1908. The number of passenger cars in the United States jumped from fewer then 7 million in 1919 to about 23 million in 1929. Traffic jammed the nations highways and created still another need for businesses, roadside restaurants, tire manufacturers and gas stations. Standard Oil gas stations grew from 12 in 1920 to 1, 000 by 1929, (Time-Life 102). With all the expansion, and the economy doing well, business became the foundation of society. Calvin Coolidge epitomized the time when he was quoted saying, The business of America is business, .

The Stock Market became a very important aspect of the economy in the 1920 s. As the economy was flourishing, many Americans found it a practical investment to put money into the Stock Exchange, as the return could be quite large. John J. Rascob, the vice-president of General Motors Corporation during the Twenties, declared that anyone that put $ 15 dollars a month in the stock market could make $ 80, 000 dollars in twenty years.

It was such promises of these that convinced many Americans to buy stocks. Stock prices rose gradually in the early 20 s, but skyrocketed in 1927, and 1928. Average stock prices tripled from 1925 to 1929. The high profits seemed to confirm President Hoovers pledge of a new era of abundance. The nations illusion of unending prosperity was shattered on October 24, 1929. Worried investors who bought stock on credit began to sell.

This led to the development of a panic amongst investors. The panic only worsened things and on October 24, 1929, stockholders sold a record 16, 410, 030 shares. By mid-November, stock prices had plunged 40 %. The crash of the Stock Market led to the Great Depression. The depression was the worst in the history of the United States and proved to be a terrible price to pay for the false sense of prosperity and national well -being of the roaring Twenties.

Many Americans felt that they were untouchable in society. The thought of the American Dream cemented in the heads of thousands of Americans overshadowed the real risk of business in the United States. They were wrong. The Dust Bowl of North America refers to a catastrophe in the early 1930 s when vast areas of the Midwestern and Western farmlands of America became wastelands. This occurred due to a series of dry years, which coincided with the extension of agriculture in unsuitable lands. Droughts and dust storms caused by poor tillage practices devastated farms and ranches of the Great Plains; therefore, causing a great exodus of its inhabitants to other, more fertile, lands.

The problem had become so great that a nation wide effort was made to resolve the problem. Beginning in 1935, extensive efforts were made by both federal and state governments to develop adequate programs for soil conservation and for the rehabilitation of the dust bowl. Eventually, thanks to government aid, farming became possible again in the Dust Bowl; consequently, farmers have learnt many valuable lessons from this dilemma. The European settlers who first arrived at the Great Plains found hardy grasslands that held the fine-grained soil in place in spite of the long recurrent droughts and occasional torrential rains. A large number of the travelers settled down in this area and built farms and ranches. These land uses led to soil exposure and great erosion.

The cattle ranches were very profitable for the settlers; unfortunately, this led to overgrazing and degradation of the soil. In addition, farmers began to plow the natural grass cover and plant their own crops. Without the original root systems of the grass to anchor the soil, much of it blew away. The wide row crops were very disastrous because between the crops, the land was kept bare; as a result, this area was exposed to the elements. Also, the plants used up the nutrients in the soil faster than they could be replaced. The soil had become exhausted.

The Treaty of Versailles was not a justified treaty, which created German feelings of revenge and dislike towards the victorious countries. This feeling of revenge felt by Germany, in addition with the social atmosphere of Europe, led to a second World War in the September of 1939, just 11 years after the First World War. People at the time published reports on the unfairness of the treaty. America never ratified the treaty but Britain and France still enforced it. Germany had no choice but to sign the unfair? diktat? 1 and there was only a matter of time before things turned for the worse.

We must examine the background, clauses, and effects of the Treaty of Versailles on Germany and Europe to understand how it helped cause WWII. Then, when you look at the situation the treaty created for Europe, we can see how WWII came about. After its defeat in World War I, Germany was forced to give up land, demilitarize and pay war reparations. When Germany refused to pay all that was demanded, France and Belgium occupied the coalmines in the Ruhr industrial area. The German government ordered the workers to strike as a form of passive resistance. To compensate these workers the German government printed huge amounts of new money.

This led to inflation. German currency rapidly lost value. Many people were unemployed and on the brink of starvation. Hitler felt it was the right time to start a revolution. On November 8, 1923, Hitler and about 600 followers attempted to take control of the provincial Bavarian government. They lacked mass support and had no chance against the military force of the government.

The rebellion failed and Hitler was imprisoned and sentenced to five years although he only served one. Hitler explained his political views in his book Mein Kampf or My Struggle. Hitler regained control of the Nazi Party upon his release in December 1924. From 1925 to 1930 Hitler built a network of local parties over most of Germany. He also organized the Schutzstaffel or the?

SS? , a group that performed police tasks. They carried out violent acts against Hitler? s enemies. Unemployed young men who joined Hitler? s groups were given food, shelter, uniforms and a sense of purpose. The stock market crash of 1929 affected practically every nation in the world.

Germany was already suffering a post-war depression and was greatly affected. Hitler used the suffering of the masses to gain political support. He gained a strong following from the middle class, the workers and the unemployed by promising to improve the economy. As economic conditions worsened, the Nazis gained more support. In 1933 Hitler was appointed chancellor of Germany. Although he had promised President Hindenburg that he would uphold the constitution, Hitler immediately called for new elections.

The Nazi Party gained control and ended the Weimar Republic. Hitler assumed dictatorial control of Germany. He suspended all civil liberties and used violence to crush all opposition. He actually started to carry out his promise of economic recovery by employing people in war industries as Germany prepared for war.

Hitler used the poor economic condition of Germany to gain complete control. He was responsible for the deaths of 40 million people and today his name is synonymous with evil. When people are in a desperate situation, like the people in Germany, they may believe politicians who promise them better times. Unfortunately, many Germans followed an evil and violent leader who took advantage of people at a time when they were poor and hungry, to gain power and cause destruction. All aspects of American society suffered during the Great Depression. By 1932, there were thirteen million people unemployed.

There was no security for the millions who lost all of their savings in the bank failure or stock market crash. Volunteer organizations attempted to help the needy, but their resources were simply not adequate. Hope seemed non-existent. Americans had never seen such a severe depression. They could not look to history for guidance.

The New Deal was Roosevelt? s attempt to restore the economy. His willingness to act decisively and experiment with new policies set him apart from previous presidents. He often said, ? I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average? (Tindall and Shi 1238).

On his second day in office, Roosevelt called Congress to meet in a special session. The outcome was the Emergency Banking Relief Act, which permitted stable banks to reopen and provided managers to those who remained in trouble. The Glass-Steagall Act separated commercial and investment banking and created the Federal Deposit Insurance Corporation (FDIC). These actions all helped restore banking confidence within American people. Roosevelt ensured that it was safer to?

keep your money in a reopened bank than under the mattress? (Tindall and Shi 1238). Other financial programs included the Securities and Exchange Commission (SEC), National Industrial Recovery Act (NIRA), and the Agriculture Adjustment Administration (AAA). The SEC functioned in regulating the stock and bond markets. The NIRA and AAA were aimed at recovery through regulation. Relieving the widespread distress was another major priority of the new administration.

Roosevelt once remarked, ? The test of our progress is not whether we add to the abundance of those who have much. It is whether we provide enough for those who have too little? (Tindall and Shi 1241). Congress? first step in accomplishing this goal was the creation of the Civilian Conservation Corps (CCC). The CCC was designed to give work to unmarried young men aged eighteen to twenty-five.

The Federal Emergency Relief Administration (FERA) gave money to states in the form of grants. The money was then handed out to relief clients in the form of direct cash payments. The Second New Deal focused on long-term maintenance whereas the original New Deal? s purpose was short-term relief.

Roosevelt called the legislation passed during the Second New Deal? must? legislation. The Wagner Act prohibited employers from interfering with union activities and gave workers the right to bargain through unions of their own choice. The Social Security Act of 1935, was the New Deal? s?

supreme achievement? , according to Roosevelt. Before the Great Depression, progressives proposed aid to elderly, disabled, and unemployed, but America was intent on being a nation of self-reliance. After seeing the destruction of the Great Depression, many opted to try out the new forms of legislation. ? The inability of capitalism to stabilize the market and the failure of the private sector to restore prosperity enhanced the consideration of stronger executive leadership and centralized planning? (Bile's 225). The Social Security Act was, and is financed by taxes on the earnings of current workers. By taking money from the workers the government slowed the increase in public consumption needed to restore the health of the economy.

In addition to the Social Security Act, a bill was passed providing work to relief to the unemployed. These programs were managed by the Works Progress Administration (WPA). The measures Roosevelt took during the Second New Deal seemed very radical, but actually they were all programs that had been floating around in Congress for many years. Many are still around today, and form the backbone of our nation? s economy. The Great Depression Affected almost every country in the world either directly, or indirectly.

Either way, direct or indirect, negative or positive it did. Either through the harsh economic times, Hitler? s tyrannous dictatorship, or through the legislation brought through demand of the masses we have all been affected by it. That is why the Great Depression was the most influential event in the world after 190 Bibliography? Bile's, Roger. A New Deal for the American People (Northern Illinois University Press, 1991)?

Madras, Larry, and James SoRelle. Taking Sides. Connecticut: McGraw-Hill Companies Inc. 2000. ? Tindall, George, and David Shi. America-A Narrative History. New York: W.

W. Norton, 1999? Ronald Heifer man World War II (Derbibooks)? L. C.

F. Turner The First World War (Frederick Warne &# 038; Co. Ltd. )? Keith Shephard International Relations 1919 - 1939 (Stanley Thornes (Publishers) Ltd. ), 1988


Free research essays on topics related to: second new deal, first world war, social security act, treaty of versailles, stock market crash

Research essay sample on Social Security Act Stock Market Crash

Writing service prices per page

  • $18.85 - in 14 days
  • $19.95 - in 3 days
  • $23.95 - within 48 hours
  • $26.95 - within 24 hours
  • $29.95 - within 12 hours
  • $34.95 - within 6 hours
  • $39.95 - within 3 hours
  • Calculate total price

Our guarantee

  • 100% money back guarantee
  • plagiarism-free authentic works
  • completely confidential service
  • timely revisions until completely satisfied
  • 24/7 customer support
  • payments protected by PayPal

Secure payment

With EssayChief you get

  • Strict plagiarism detection regulations
  • 300+ words per page
  • Times New Roman font 12 pts, double-spaced
  • FREE abstract, outline, bibliography
  • Money back guarantee for missed deadline
  • Round-the-clock customer support
  • Complete anonymity of all our clients
  • Custom essays
  • Writing service

EssayChief can handle your

  • essays, term papers
  • book and movie reports
  • Power Point presentations
  • annotated bibliographies
  • theses, dissertations
  • exam preparations
  • editing and proofreading of your texts
  • academic ghostwriting of any kind

Free essay samples

Browse essays by topic:

Stay with EssayChief! We offer 10% discount to all our return customers. Once you place your order you will receive an email with the password. You can use this password for unlimited period and you can share it with your friends!

Academic ghostwriting

About us

© 2002-2024 EssayChief.com