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Word Count: 814
From the end of World War I to the end of the 1920s the United States experienced a period of time unlike any other During this time America went through perhaps the most prosperous radical and changing period during the nations brief history Given this the decade that followed is perhaps still surprising to many As fast as Americans saw it begin the economic boom of the twenties came grinding to a halt on that fateful day in October Black Tuesday However it is obvious that the great stock market crash in which the industrial index dropped from 452 to 58 in less than three years was not the only factor contributing to the Great Depression More importantly the crash was not only a cause of hardships to come but also a result of economic trends preceding it Economic policies of the twenties pushed the nation into a deeper hole than it has ever seen and many efforts during the depression only hurt America even more One of the largest reasons for the depression was the unequal distribution of purchasing power among Americans and the policies of the government toward this growing problem Hardly a recent development extreme maldistribution of American wealth had existed since the rise of industry during the late 1800s with businessmen such as JP Morgan and John D Rockefeller However in the 1920s it reached a new high Despite protests from the working class the administration of Calvin Coolidge made several distinct decisions that aided these trends Laws such as The Revenue Act of 1926 reduced taxes and Secretary of the Treasury Andrew Mellon worked to decrease these taxes even further throughout the decade Further widening the gap was the Supreme Court who in 1923 ruled minimum-wage laws unconstitutional In 1929 a study done by the Brooksing Institute found an astounding 01 of the population sharing a combined wealth equal to the lower 42 The effects of these travesties would hurt
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