Out of Our Past: The Forces That Shaped Modern America - Chapter XIII: The Third American Revolution Summary & Analysis

Carl Neumann Degler
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Chapter XIII: The Third American Revolution Summary and Analysis

The Great Depression was responsible for the near collapse of the foundations of the nation.

1. Hunger is Not Debatable

The stock market dropped from $87 billion in 1929 to $19 billion in 1933. Wholesale prices dropped by 38 percent by 1933. During the years of the Great Depression, the national income fell by half. The stagnation of industry was worsened by the plethora of bank failures. All this led to unemployment of staggering heights. People were starving and "relief gardens" were springing up everywhere so people had something to eat. Desperation, in some cases, led to violence. There was even talk of revolution. People booed and hooted at President Hoover campaigned for re-election. Unemployment had far-reaching social ramifications. In many cases, the man in the family lost his job and the woman became the bread earner. The...

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This section contains 696 words
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