Economy
Henry Ford
Henry Ford was born in the year 1863. Ford started out as an engineer in 1891. He started working at the Edison Illuminating Company id Detroit. Two years later, Ford was promoted to Chief Engineer. Since he was at a higher ranked job, he had some extra money to experiment on new things for the autobobile, such as the quadricycle.
Ford had many attempts of trying to manufacture cars, but they were not successful. Because of this, the Ford Motor Company was later incorporated in 1093. Ford was the Chief Engineer as well as the Vice President of this company.
Since Ford's production of automobiles were rasonably priced, reliable, and eficient, his company became a success. In 1908, the Model T was welcomed into the world. This car was a popular vehicle because of its easy aintence, easy operation, and it handle very well on the roads. These cars were made by groups of two to three men, but then the assembly line came. The assembly brought all the cars straight to the workers. This sped up manufactoring.
A quote from Henry Ford: "Americans can have any kind of car they want, and any color the want, as long as it's a Ford, and as long as it's black."
Ford had many attempts of trying to manufacture cars, but they were not successful. Because of this, the Ford Motor Company was later incorporated in 1093. Ford was the Chief Engineer as well as the Vice President of this company.
Since Ford's production of automobiles were rasonably priced, reliable, and eficient, his company became a success. In 1908, the Model T was welcomed into the world. This car was a popular vehicle because of its easy aintence, easy operation, and it handle very well on the roads. These cars were made by groups of two to three men, but then the assembly line came. The assembly brought all the cars straight to the workers. This sped up manufactoring.
A quote from Henry Ford: "Americans can have any kind of car they want, and any color the want, as long as it's a Ford, and as long as it's black."
Black Tuesday, October 29th, 1929
Black Tuesday was one of the worst days ever that took place in the stock market. The reason this was is because stocks were being sold instead of bought. People were in a cry because they wanted to get rid of their stocks. They wanted to get rid of them fast. Since no one was buying any stocks, but selling instead, the stock market quickly fell apart. On October 29th, 1929, over 16.4 million shares of stock were sold; which is a new record for the United States Stock Market. (http://history1900s.about.com/od/1920s/a/stockcrash1929_2.htm)
Stock Market Crash of 1929
The Stock Market Crash consisted of multiple numbers of days in which the stock market dropped caused by a chain reaction. The reaction ended up hurting companies, banks, and investors. It didn't just hurt them, but it destroyed them. A known and agreeable theory of what happened when the stock market crashed is the Boom-bust theory. The effects of the stock market crash affected the economy, American consumption, and as well as banking. Even though this was a very bad time for the United States, President Roosevelt was ready to restore all the things that the United States lost: confidence, economy, and prevention. http://www.associatedcontent.com/article/47662/stock_market_crash_of_1929_the_week.html?cat=37)
You can find this video at:
http://www.youtube.com/watch?v=zHXkFKyBU7M
http://www.youtube.com/watch?v=zHXkFKyBU7M
The Great Depression
The Great Depression began in October 1929, when the stock market in the United States dropped rapidly. Thousands of investors lost large sums of money and many were wiped out, lost everything. The 'crash' led us into the Great Depression. The ensuing period ranked as the longest and worst period of high unemployment and low business activity in modern times. Banks, stores, and factories were closed and left millions of Americans jobless, homeless, and penniless. Many people came to depend on the government or charity to provide them with food. (http://www.42explore2.com/depresn.htm)
The Depression became a worldwide business slump of the 1930's that affected almost all nations. It led to a sharp decrease in world trade as each country tried to protect their own industries and products by raising tariffs on imported goods. Some nations changed their leader and their type of government. In Germany, poor economic conditions led to the rise to power of the dictator Adolf Hitler. The Japanese invaded China, developing industries and mines in Manchuria. Japan claimed this economic growth would relieve the depression. This militarism of the Germans and Japanese eventually led to World War II (1939-1945). (http://www.42explore2.com/depresn.htm)
In the United States, President Herbert Hoover held office when the Great Depression began. The economy continued to slump almost every month. Franklin D. Roosevelt was elected President in 1932. Roosevelt's 'new deal' reforms gave the government more power and helped ease the depression. The Great Depression ended as nations increased their production of war materials at the start of World War II. This increased production provided jobs and put large amounts of money back into circulation. (http://www.42explore2.com/depresn.htm)
The Depression became a worldwide business slump of the 1930's that affected almost all nations. It led to a sharp decrease in world trade as each country tried to protect their own industries and products by raising tariffs on imported goods. Some nations changed their leader and their type of government. In Germany, poor economic conditions led to the rise to power of the dictator Adolf Hitler. The Japanese invaded China, developing industries and mines in Manchuria. Japan claimed this economic growth would relieve the depression. This militarism of the Germans and Japanese eventually led to World War II (1939-1945). (http://www.42explore2.com/depresn.htm)
In the United States, President Herbert Hoover held office when the Great Depression began. The economy continued to slump almost every month. Franklin D. Roosevelt was elected President in 1932. Roosevelt's 'new deal' reforms gave the government more power and helped ease the depression. The Great Depression ended as nations increased their production of war materials at the start of World War II. This increased production provided jobs and put large amounts of money back into circulation. (http://www.42explore2.com/depresn.htm)