Progressive Era through the Great Depression
HIS-105 Contemporary US History
November 10, 2012
The Spanish American War began in February of 1895. This war was brought on by the Cubans struggle for independence from Spain. The US got involved when US newspapers brought the brutality home. The US intervened and in the end they gained Guam and Puerto Rico. The US also gained power and with that power they would gain a place in international politics. (Spanish American War, 2012)
The Great Depression followed a period that was called the roaring twenties. The roaring twenties was a time when people had more money to spend and spend they did. ...view middle of the document...
I think the mentality that the Southerners had before the Civil war began was still in place and the Eastern states even though they went along with change refused to see women as equals.
As the roaring twenties went out the Great Depression came in on a day called Black Thursday the stock market crashed with a record of 12.9 million shares being traded. A few days later 16 million were traded and that day was known as Black Tuesday. (The Great Depression, 2012). With the fall of the stock market it had horrendous effects on trade and no one was really safe from the depression. (Great Depression, 2006)
Investing and spending had dropped and unemployment rates were on the rise. Houses were being foreclosed on because people were unemployed and could not afford their mortgages and they fell deep into debt. Much like you see today soup kitchens and homeless people were very common in American cities. (The Great Depression, 2012) President Hoover said the depression would run its course however times continued to get worse and worse. So much so that banks were closing their doors and farmers were struggling so much so that they couldn’t harvest their crops so they were forced to leave them to rot in the fields.
In 1933 Franklin Roosevelt took office and took action to correct the economy this in my opinion was huge turning point for America. His first order of business was to have the banks close for a four-day bank holiday. He passed the Emergency Banking Act and the Federal Deposit Insurance Corporation was formed to insure deposits up to $5000. This reestablished American’s faith in banks which brought American’s to reopen accounts and deposit their money in the bank. Also during his first 100 days of office he stabilized the industrial and agricultural production; created jobs, and the Securities and Exchange Commission. (The Great Depression, 2012)
FDR also created the Civil Works Administration which gave many of the unemployed jobs. This was a confidence boost to many American’s who at the time were struggling. (Franklin D. Roosevelt A New Deal, 2007) He also implemented (in my opinion one of the best Acts) the Fair Labor Standards Act of 1938. This act banned child labor and set a standard minimum wage. Many companies had child labor because it was free but with this act they were now forced to pay many unemployed Americans a standard wage for their work. This also helped many American’s get back on their feet. (Franklin D. Roosevelt A New Deal, 2007)
Another act that was passed was the Social Security Act. The Social Security Act provided funds for old age workers, survivor benefits for victims of industrial accidents, unemployment insurance, and funds for those that were disabled. (Franklin D. Roosevelt A New Deal, 2007)
Today many American’s are out of work and struggling to survive. As of October 2012, the total of nonfarm payroll employment increased by 171,000 but the unemployment rate remained unchanged and...