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The families of Middle Class Americans had enjoyed the prosperity, ostentation and conspicuous consumption of the Roaring Twenties that fostered a belief that they were better than others. The wages of the middle class were more than double those of the poor. Hard times hit many Middle class families as debts accumulated through 'Margin Loans' had to be repaid immediately. Loans on 'easy credit', for various consumer goods such as automobiles or refrigerators, still had to be repaid. Numerous small banks collapsed and people lost their life savings. Family homes in comfortable 6-8 roomed houses had to be sold to cover debts and back taxes. Those that managed to keep their houses could no longer afford electricity. And servants had to be dismissed adding to the rising unemployment figures.
Foreclosures were a common occurrence in the early 1930's, as thousands of Americans lost their entire life savings and eventually their homes once the stock market crashed in 1929.To help provide Americans with help, Franklin D. Roosevelt creates the Federal Housing Administration.
This government agency helps to provide small loans for home construction. Providing these loans would help the economy recover, as new home construction is a sign of economic prosperity. By limiting the size of the loan, individuals were able to make reasonable payments and this allowed for relief, especially on America's middle class.
Invention and use of bigger ship made the quest feasible.
The Era of European Exploration was also known as Age of Discovery.
- The exploration by the Europeans was believed to start from the 1400s and continued through the 1600s.
- Some of the reason why the Europeans started the exploration of world through the sea in their quest and search for new trading routes, wealth, knowledge, dominance etc.
- The European also believed they are in need to spread their religion to other places of the world.
In conclusion, the technological improvements which really enable the European to perform their quest by High sea and Ocean was the invention of bigger ships that could hold cargo and sail across the ocean.
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