Social Sciences, asked by sanjubhati222, 1 year ago

Write any two consequence of economic depression

Answers

Answered by tejasweety
0

hey mate,


here is your answer,



       consequence of economic depression              


Whatever the causes, the consequences of the Great Depression were staggering. In the cities, thousands of jobless men roamed the streets looking for work. It wasn’t unusual for 2,000 or 3,000 applicants to show up for one or two job openings. If they weren’t looking for work, they were looking for food.

Bread lines were established to prevent people from starving. And more than a million families lost their houses and took up residence in shantytowns made up of tents, packing crates, and the hulks of old cars. They were called “Hoovervilles,” a mocking reference to President Hoover, whom many blamed (somewhat unfairly) for the mess the country was experiencing.

Americans weren’t sure what to do. In the summer of 1932, about 20,000 desperate World War I veterans marched on Washington D.C. to claim $1,000 bonuses they had been promised they would get, starting in 1946. When Congress refused to move up the payment schedules, several thousand members of the “Bonus Army” built a camp of tents and shacks on the banks of the Potomac River and refused to leave.

Under orders of President Hoover, federal troops commanded by Gen. Douglas MacArthur used bayonets and gas bombs to rout the squatters. The camp was burned. No one was killed, but the episode left a bad taste in the mouths of many Americans.

Thousands of farmers left their homes in states like Oklahoma and Arkansas and headed for the promise of better days in the West, especially California. What they found there, however, was most often a backbreaking existence as migrant laborers, living in squalid camps and picking fruit for starvation wages.


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Answered by varshakhatri778
0
The great depression on 1929 devastated the U.S.economy. half of all banks failed.unemployment rose to 25 percent and homelessness increased.housing prices plummeted 30 percent. international trade collapsed by 60 percent. and prices fell 10 percent per year. it took 25 years for the stock market of recover.
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