The situation in America was very bad in the wealth of 1929 (Photo- Keystone View Company/Hulton Archive/Getty Images)
The new tariff rates imposed on most countries by US President Donald Trump have been implemented, but they are afraid that the court may give a verdict against it. While warning the court, Trump warned that if a decision is taken regarding the tariff, then the situation will deteriorate. America can go to “1929 like a gathering”. The recession that Trump has mentioned the 96 -year -old, after all, what is it and how much America and its people had to pay for it.
The Mahamandi of 1929 which is also known as ‘The Great Depression’. In this era of Greatness, production and income in most parts of the world had fallen, along with a drastic decline in trade and employment. Due to the recession everywhere, a large population around the world had come under the clutches of starvation and poverty. Industries were also affected. Industries started to shut down continuously and this also made big industrialists indebted.
How did the Greatness of 1929 come
After all, how did the Mahamandi (The Great Depression 1929) come. The world had suffered the first world war a decade before the commencement of the Greatness. gone.
The construction of the time at the time of the war continued even after the end of the war. It happened that goods started reaching more in the world market and there was no one to buy it. The market remained lying in the market, and its producers suffered heavy losses.
Cultivation increased, demands fell when demand fell
The same situation happened not only in the field of production but also in the agriculture sector. By the end of the war, the agriculture sector started improving. The yield increased considerably. Due to the excess of crops, the price of grains at the international level also fell considerably. The farmers were not even getting their cost money. The farmers started more yields to maintain their income, due to which the prices of grain fell significantly. Buyers did not meet, grains started getting spoiled and these classes also came to the verge of ruin.
Greatness starts with ‘Black Tusade’
The bumper decline in the US stock market turned the world towards the Greaty. In the year 1929, on 24 October, on Tuesday, the New York-stock exchange declined by nearly 50% while corporate profits saw a decline of more than 90%. In this way the stock market suddenly fell down $ 50 billion. This day came under discussion by the name of “Black Tusade”. Although the market improved due to the efforts of the US government and the capitalists, the price of shares started falling again in November next month. Due to this, a large number of investors had to suffer heavy losses.
During this world war, America had given huge debt to many of its friendly nations in Europe. He may not be involved in this war, but was distributing loans to the countries. Meanwhile, when the market was heard in the market in the market, America announced 1929 that now it will not give loans to any country. Due to lack of debt, many countries were facing crisis. Also, big banks of Europe were ruined due to lack of loan. The price of currencies of many countries of the world, including powerful Britain, fell considerably. Latin America was also not untouched by this.
Loan stopped in view of recession
The effect of the Greatness was visible all over the world. Among the affluent countries, America had to face the most gathering. Apart from America, many European countries including Britain, Germany were also hit by it. America’s economy was rapidly rolling down.
In view of the continuous recession, American banks took tough decisions and stopped giving loans at the domestic level. Not only this, those who were given loans were forcibly recovered. But due to the continuous reduction in the prices of dollars and the crisis, from the farmers and the middle class to the industrialist, all were caught in the trap of economic crisis. Many families were unable to repay their debt. Banks recovered through houses and cars of these families.
Thousands of banks, one lakh companies closed
There was havoc everywhere in America. Even after strictness, a large number of banks could not collect loans from people. The banks became bankrupt and had to be closed. Due to this, the entire banking system of America was also demolished. According to one figure, by the year 1929 to 1933, more than 4000 banks were closed. While about 1,10,000 companies were closed during this period.
Due to the closure of banks and companies, people started going to jobs and this increased unemployment. People started having difficulty in buying food and drink. During this period, the number of unemployed in 1929 was around 16 lakhs, which increased to 1.4 crore in 1933 to 1.4 crore.
Malnutrition also caused death
Due to reduced employment and production, starvation increased in America. In 1931, around 100 people died due to hunger in hospitals in New York. Many people were killed by diseases related to nutritional lack of nutrition. People died even after not getting the right treatment. Then one third of the children in New York fell victim to Khusanhin.
American people trapped in debt were starting to become homeless. By 1932, more than 2,50,000 people were not able to get rid of their hostage i.e. morning. Those who failed to pay their hostage or rent were evicted. Most people were forced to sleep either on the roads or on the parks of the park. People did not even have money to buy anything to eat. They were not able to buy essential things either.
Slums started being made in every city
The condition became that the US started settling cardboard and corrugated iron slums on the banks of many cities. People also looked angry with the then President Herbert Hoover. Due to not getting enough help from the government, people named it Hoovervilles.
Started arrested for eating himself
Due to no work or getting any work, a large number of men (about 20 lakh people) started moving around in 1932. These people used to roam throughout the day, then lived in tents on the banks of the railway tracks or in the goods trains. The condition had become this, a large number of people used to deliberately arrest themselves so that they could be spent in jail comfortably. Spending night in jail meant heat, bed and food.
Second World War ends the phase of gathering
This period of Greatness lasted for more than a year. By the year 1939, the situation started getting better in America and the lives of people who have become hellish started to change. Due to the start of the second world war and its expansion in 1939, the phase of gathering began to end, as it promoted production again in the factory. Women started getting jobs while the armies of many countries started recruiting a large number of young and unemployed men for war.