Why did the stock market crash in 1929? Essay
One of the primary causes that led to the crash of the stock market was move by various individuals with excess cash to stop market speculators (Divine et al., 751). The other possible cause that may have contributed in crash of the stock market was the great investments of trust by many of the Americans who were eager to make huge profits (Divine et al., 751). Moreover, there was also a great expansion in public holding companies. The other great expansion was amount of buyers. All this factors that experienced great expansion led to the increase in buying public utility stocks contributing to a rise in their prices. In October 1929, America experienced a dramatic fall in utility price. The decline in utility price caused panic among the margin buyers and they had to sell all the stocks (Divine et al., 751).
What was the legacy of the New Deal?
The legacy of the New Deal is that it played a crucial role toward alleviating the worst suffering of the depression. For example, the early New Deal contributed in assisting bankers and industrialists (Divine et al., 762). Moreover, the early New Deal tried to assist large farmers and members of the labor union (Divine et al., 762). However, the New deal was still being held captive of the conventional thinking of the day. It is not possible to say that the New Deal would have ended the depression basing in the historical facts. For example, development of the World War II interrupted the process.
3. How did Franklin Delano Roosevelt’s political philosophy affect his New Deal?
Roosevelt political philosophy contributed to a decline in his New Deal (Divine et al., 751). He played a crucial role in defeating a number of conservative Democratic congress representatives and senators. Roosevelt’s target gleefully changed the interference with local politics. Divine et al., (774) indicates that only one of the men that Roosevelt sought to defeat lost in primaries. The worst blow of Roosevelt’s New Deal came in the economic sector. Most of the business executives claimed that Roosevelt recession reflected a lack of confidence in FDR’s leadership hence leading the New Deal to become ineffective (Divine et al., 751).
How did Herbert Hoover deal with the depression?
Hoover blamed the depression on foreign policies. He rejected various proposals for bold government and relied instead on voluntary cooperation within the business of which he used to halt the slide (Divine et al., 754). Moreover, he called various leaders associated with industries to the White house and secured agreement to maintain prices and wages at a high level. Hoover also believed in voluntary efforts that played a significant role in relieving the human suffering brought about by the depression. On this case, he called private charities and local governments to help in offering clothes and food to the needy ones. With the request of Hoover, Congress managed to cut taxes in an attempt to restore public confidence. He also managed to adopt a few federal works projects such as boulder dam in order to provide jobs for the young people (Divine et al., 754).
What were the weaknesses of the New Deal?
Through the New Deal, Roosevelt managed to develop the Works Progress Administration (WPA). Through this organization, the burden of unemployment eased but it failed to overcome depression (Divine et al., 760). This means that one of the weaknesses of the New Deal is failure to overcome depression. Through the New Deal, the WPA filed to prime the American economy by increasing consumer purchasing power. The other weakness associated with the New Deal is that it led to a growing frustration and the appearance of more radical alternatives. These alternatives challenged the conservative nature of the New Deal that made the FDR to shift to the left (Divine et al., 760).
Part 1 (B)
What were the forces that caused the stock market to crash?
According to the article, one of the causes that led to the crash of the stock market was a great force of the titans in the market. These were those individuals with many shares in the market and they were willing and making the prices to rise. The other force was the media, which the titans in the market used in trying to stop market speculators. For example, the article indicates that many brokers used telegrams in telling speculators they would have to put more collateral for stocks. Another great force that led to the crash of the stock market was lack of economic safeguards. There was no money circulating in the population therefore making the titans have control over the stock market prices. The other force is that there was no reliable government policy over the stock market operations. For example, the Federal government was unable to prevent panics leading to most of the speculators killing themselves.
Part 1 (C)
Response to EDWARD BOBROVITSKY Views
I agree with BOBROVITSKY’s views that many forces contributed to the crash of the stock marker. At first, the titans had much confidence with the market but they were later disappointed by the outcome of their work. However, the titans also contributed in the crash of the stock market in a large extent. First, they did not offer much consideration to the warnings that were made individuals experienced with the stock market issues during that time. I also agree with BOBROVITSKY’s views on the fact that the American market had indicated numerous growths before the stock-market crash but it also fell down significantly. This means that the Federal government had to blamed for the not taking the appropriate actions on time.
Response to WILLIAM RUSSELL Views
I agree with William Russell views that one of the factors that contributed to the failure of the stock market operations during this period was ignorance. A large number of people who engaged in stock market business with the aim of getting rich in a quicker way during this period did not have the knowledge of how stocks operate. This made the titans in the stock market to take advantages of the small investors with less knowledge of the market operations. Moreover, because of ignorance, may people who had engaged in the stock market business could not figure out what do in order to prevent occurrence of the crash.
Part 2 (A)
1. Why did the United States withdrawal from world affairs?
The main reason that made the United States to withdraw from world affairs was danger of the war abroad. The aftermath and memories of World War I led to the rising American desire for peace and noninvolvement (Divine et al., 783). Moreover, the retreat form an active world policy of that occurred in the 1920 played a crucial role in leading to isolationism or normalcy in the 1930. Divine et al., 782 indicates that one of the factors that contributed to isolationism was the Great Depression that made most of the Americans fail to recognize and appreciate foreign policy (Divine et al., 782). The other factor that led to isolationism was danger of war abroad that strengthened the desire for American to escape from world affairs. Therefore, development of American isolationism made the country to withdraw form world affairs (Divine et al., 782).
What was America’s strategy for defeating Japan in World War II?
America had entered to a Declaration of the United States together with other twenty-six countries that pledged them to fight against the Axis powers (Divine et al., 790). One of these powers was Japan. The other strategy that America employed in order to defeat Japan was attacking the countries key islands in the Central Pacific area (Divine et al., 793). Moreover, the attack made by the Japanese on the Pearl Harbor gave America an advantage of using new techniques that could be employed to defeat Japan. America had also an advantage where four aircraft carriers of which were used in the battle with the Japanese. The other strategy was blocking the Japanese thrust to outflank Australia (Divine et al., 793). The American navy forces enacted this strategy. The above outlined information indicates that the America strategy of being in control of the Central Pacific was the one that led to the county defeating the Japanese (Divine et al., 793).
What was America’s response to Japan’s, Italy’s, and Germany’s aggression in the 1930’s?
One of the responses that America managed to make was turning back to isolationism (Divine et al., 782). The other response that America made was passing the first three neutral acts by the Congress in August 1935 (Divine et al., 784). The 1935 law banned America to make any sale of arms to the nations that were at war. Moreover, the law warned Americans not to sail on belligerent ships. The second act that was made in 1936 added a ban on loans that could help in supporting the countries that were engaging in war. The third neutrality act that was made in 1937 contributed in making the prohibitions permanent and required (Divine et al., 784).
How would you characterize America’s foreign policy between the two wars?
The American’s foreign policy was largely entitled to isolationism between the two wars (Divine et al., 784). Although America had various significant reasons of entering into World War I, the country experienced a great loss of its veterans. This one of the reasons that America did not want to engage into another war despite the circumstances that led to the development of World War II. Moreover, most of the American youths made it clear that they would not want to repeat the same mistakes that their elders had done before (Divine et al., 783). This indicates that the American policy between the two wars was that of seeking peace rather than engaging into war.
Why did the United States use atomic weapons against Japan?
One of the main reasons that the United States used atomic weapons against Japan was to get a quick defeat over the country that seemed to be powerful in terms of ammunitions (Divine et al., 805). The other main reason of using the atomic weapon was to impress the Soviet Union with the fact that United States had exclusive possession of the ultimate weapon. According to the Americans opinion, this move could lead the Soviet Union to end the World War II as quickly and effortlessly as possible (Divine et al., 805). Another main reason of the American to use the atomic weapons was the saving of Americans lives, along with a desire for revenge for Pearl Harbor (Divine et al., 805).
Part 2 (B)
Why did Truman decide to use atomic weapons?
One of the reasons why Truman decided to use atomic weapons is that he claimed using the atomic bombs prevented an invasion that would have cost 500,000 American lives. Even though many other officials mentioned the same figure or even higher than that, critics have assailed such statements as gross-exaggerations designed to forestall scrutiny of Truman’s real motives. The other reason that made Truman to use the atomic weapons is failure for Japan to surrender. Truman believed that use of the atomic weapon would end the war with Japan. Another possible reason is there was no top military adviser who begged Truman not to use the atomic bombs. Even though myths hold that some of the top military advisers had begged Truman not to use atomic bombs, there is no reliable evidence that they did so. Therefore, failure to give Truman advice may have contributed to his use of the atomic weapons.
Part 2 (C)
Comments on the Movie
The first video clip, “Your Job in Germany” indicates the instructions the soldiers were given while making their move into the war. One of the reasons that the veterans were to go into the war is such of future peace. The soldiers were given much advice on how the things they could consider and ignore in order to be winners. The video clips on, “Here is German video clip –part 1-7” demonstrates how some of the soldiers who had not been into war were making preparations through assistances of their seniors. Moreover, the video clips shows what motivated most of the Axis countries to engage into war. All the video clips are of significant importance as they help in getting more understanding of the war in Germany.
Part 2 (D)
Response to MACHIKO SAKASAI Views
I agree with Sakasai views that one of the main reasons that Truman claimed to support and authorize the use atomic weapon against Japan is that he wanted to prevent the death of 500,000 Americans. However, some of his allies and top officials in the Federal government supported this issue while others were against it. I also agree with the opinion of Sakasai on the fact that there was a reason behind targeting Hiroshima and Nagasaki. The main reason for choosing these two places as the main target of the bomb was that Truman wanted to cause trauma in Japan by causing huge loss of lives.
Response to WILLIAM RUSSELL Views
I agree with Russell views on the fact that the first Video clip was about why the American troops were supposed to do in Japan. The first clip further illustrated that the U.S was fully prepared to emerge the winners of the war no matter the cost. However, I disagree with Russell view that the sound in the first clip was boring. The producer managed to put this sound in order to give the audience a clear picture of the mood before the start of war. I agree with Russell views that the rest clips offered detailed illustrations of the impact of the war and its consequences.
Booker T. Washington
Booker T. Washington is considered to be among the first black educator who played a significant role in the education sector during the late 19th century and in the early 20th century. He also played a crucial role in creating a strong relationship on the southern race and he was a dominant figure in the black public affairs. The fact that he was born a slave on a small farm in the Virginia backcountry contributed him in working at the salt furnaces and coalmines of the West Virginia as a child.
One of the historical significance is that he became the chief spokesperson of the industrial education. He played a significant role on this sector especially on his advocacy of the Tuskegee Institute and its educational method. He also convinced the Southern White employers that through the help of Tuskegee, most of the blacks would be able to uplift their lives where some of them would become millionaires.
Boxer Rebellion refers to a group of peasants that emerged in the northern China that had come together in a secret society. The group was uniting with the aim of destroying the Ch’ing dynasty. This dynasty had ruled China approximately a period of over 250 years. Another significant issue about this group is that it was trying to establish a holy war against technological superior collection of foreign powers in order to preserve their values and belief.
One of the historical significance about Boxer Rebellion is that on 1900, the Empress Dowager authorized the group to kill all foreigners. Unfortunately, several foreign ministers were killed together with their families. However, the international force interfered to protect them. Another issue is that the Boxer Rebellion managed to weaken the Ch’ing dynasty power.
Zimmerman note also known as the telegram refers to a message that was sent to German Minister to Mexico. The note consisted of a message offering United States to territory to Mexico in return for joining the German cause. The message played a crucial role in drawing the United States into the war.
The historical significance of the Zimmerman note is that it had enormous consequences. This means that the note contributed to a bad blood between the Germans and United States. Moreover, the note is believed to have contributed much to the developed of the United States war against German.
Committee on Public Information
The Committee on Public Information (CPI) was an independence agency created by Wilson. The committee intended to influence the American public opinion regarding the county’s participation in the World War I. the committee blended various advertisement techniques of which were used to disseminate propaganda about the war.
The historical significance of the Committee on Public Information is that it implemented the voluntary guidelines. This was after the committee took immediate steps to limit the widely spread damaging information. Moreover, the committee played a crucial role in helping to pass the Espionage Act of 1917. The group also helped to pas the Sedition Act of 1918.
The Flapper referred to a new breed of young Western women who had developed strange behaviors in the early 1920s. One the behaviors that these group depicted was wearing short skirts. It is believed that the Flapper era started in Britain after World War I.
The historical significance is that the Flappers is that they managed to change the way the world looked like. This is because the group developed various new styles of dressing and social behaviors. For, example, the group changed the hair style and contributed in enacting various activities like drinking, smoking and treating sex in a casual manner of which was not there before.
What caused America’s entry into WW II?
A number of reasons contributed to the America’s engagement into the World War II. It is evident that the outcome of World War I and the Great Depression played a crucial part in contributing to the conditions that spawned the World War II. This paper demonstrates detailed information on various factors that caused America to engage in World War II.
One of the factors that contributed to the Americas to engage in the World War II includes the attack on Pearl Harbor. The bombing of the Pearl Harbor had caused a huge grudge between the American and the Japanese. Therefore, America had a motive of revenge and this contributed to its entry into World War II.
The other main factor that caused America’s entry into World War II was the gradual change in the America policy from neutrality to involvement. The Neutrality Law prevented the America from offering Arms or loans to any of the countries that were involved in the war. However, President Roosevelt campaigned for the changing of the law in order, which led America to give support to the Britain hence getting involved in the World War II.
The other main reason that contributed to the American engagement in the World War II was the tension that increased between the Japanese government and the American one. Apart from the bombing of the Pearl Harbor, there was increased tension between American government and the Japanese because of the Japanese aggression in East Asia. This was another main factor that led America to enter into the World War II in order to fight the Japanese.
The above information indicates that some of the factors that led America in entering into World War II include bombing of Pearl Harbor. The other factor is the change of Neutrality Law. However, the main factors were the grudge between the Americans and Japanese.
Divine Robert, Breen Timothy, Fredrickson George, Williams Hal, Gross Ariela & Brands Henry. America Past and Present: Unbound for Books a La Carte Plus. New York: Pearson College Div. 2007, Print.