In this report I will discuss what occurred in America during 1865-1945. There were many social and political issues that were real complicated to solve. This time was also referred to as the Reconstruction which is a period of rebuilding America. There is a realization of the struggles of everyone were both the same. The Reconstruction was not a time for separation; it was a time for support of one another and equality.
. On September 18, 1873 the important banker Jay Cooke fell into bankruptcy. After this it was like a chain reaction of smaller banks closing there doors to. Many fortunes were lost and panic began to spread this started a 7 year depression. Within a short time over 4,000,000 men and women were jobless. Many parents and children were left to starve and look for food in garbage. In conclusion the people themselves created the enemy, by not wanting to work as hard, and when they got what they wanted they no longer wanted it any more.
The true panic of this depression consisted of banks over- extending credit on insufficient collateral as well as a shortage of the nationÃÂs currency. The shortage of currency failed to meet the demands of the country at a time when the nation was prospering, the railroad was laying tracks and extending outward, and canals were being built to make even more routes of transportation. Basically, people were spending money and investors were buying in to the American corporations and state bonds. During 1835-1837, nearly 40 million acres of land were bought and sold in the nation to immigrants who had little or no money. The land was sold on credit at greatly advanced prices.
Though this was a bad time for the economy, the American industry brought in something better.