Causes for the Great Depression
Some of the causes for the Great Depression were buying on credit, the dust bowl, supply and demand, the stock market crash, and people buying too many stocks.
Buying on credit was a problem because people would buy things and they wouldn't have the money to pay it back. Then they ended up being in debt.
The Dust Bowl was another cause. During this, crops were ruined and there was a long drought which didn't let farmers grow any more crops.
Supply and Demand was a cause as well. Companies were still producing the smae amount of goods they always were, but people weren't buying them because they didn't have any money.
People buying stocks also caused a problem. People would buy them and the stock price would rise faster than the company's value. People would only have to pay 10% down on the stocks too.
The last cause is the stock market crash. Some people who invested in stock sold their stock. When people found out about that, everyone started selling their stock. Since everyone had sold their stock, the prices for stocks were very low.
I think that the Great Depression was a horrible thing and I hope nothing that bad happens again. I know that the U.S. has been in a recession and I hope that we can get out of it soon.
Causes for the Stock Market Crash
People were borrowing money to buy stocks. When the prices of stocks suddenly dropped, people who had borrowed money thought they wouldn't be able to get back what they paid so they sold their stocks. Once some people began to sell their stocks, many people followed them. Since this was happening, stock prices dropped and more people sold to get back their money.
The Stock Market Crash was a bad thing and I don't think that it could happen again. People were not very smart to borrow money to buy more stocks and then sell when everyone else did.
Hoover's Background
He was born on August 10, 1874, in West Branch, Iowa to Quaker parents. As a child, he was orphaned because both of his parents died, so he went to live in Oregon with his uncle. He didn't graduate high school and he went to Stanford to be a mining engineer. He was a mining engineer from 1896 to 1914 and he worked in different countries like China and Australia. He married Lou Henry who also studied at Stanford.
When WW1 started, they were living in London. He helped Americans who were stuck there because he was the chairman of American Relief Commission. Wilson made Hoover the Food Administrator. Hoover created Meatless Mondays and Wheatless Wednesdays. He also was the Secretary of Commerce from 1921 to 1928. He supported the Hoover Dam and the St. Lawrence Sea Way.
After his presidency, he decided to be the chairman of the Boys' Clubs of America. He created the Polish Relief Commission when there was war in Europe. In 1941, the Hoover Tower was made at Stanford. In January of 1944, Hoover's wife died of a heart attack. They were living in New York City when this happened.
President Truman asked Hoover to lead the Famine Emergency Commission in 1946. After this, he wrote some books and when he turned 88 years old, a library in West Branch was dedicated to him. It was called the Hoover Presidential Library. Hoover died on October 20, 1964.
I think that Hoover was a role model. He did a lot of things that helped the U.S. and he gave a lot of his time to help people. He cared a lot about what he did and I think that is good that he liked what he did so he could do a good job.
Hoover Tower at Stanford
http://www.biography.com/people/herbert-hoover-9343371?page=4
http://www.spartacus.schoolnet.co.uk/USAhoover.htm
http://www.historycentral.com/Bio/presidents/hoover.html
Comments
Good job!