The Main Causes Of The Great Depression
The Great Downfall Life-style in the United States changed drastically in October 1929. Could this generation ever imagine living in the Great Depression? The Great Depression was worldwide and lasted ten years. They called it Black Tuesday, it started October twenty-ninth. There are many causes of the Great Depression. Three main causes were the stock market crash, bank failures, and the dust bowl. The causes of the Great Depression led to a hard lived life for the people of the United States.
A big cause of the Great Depression was the stock market crash. It was caused by everyone investing their savings and mortgaging their homes in hopes of selling them to make a huge profit. During the Hoover Bull Market the stock prices increased tremendous. …show more content…
They also had to pay off any unpaid loans after the crash. Some people were so depressed that they threw themselves off high buildings to their death. Most of the people lost a lot of faith in wall street after the crash occurred. Just a couple days later, on October twenty-eighth, Black Tuesday, which is when twelve million stocks were sold in one day, that amount tripled (Amadeo). The stock market plundered thirteen percent (Amadeo). Sixteen million plus shares were sold. The stock market crash was called Black Thursday, beginning on October 24, 1929. It was the worst crash in history. In just four days of the crash, thirty billion was lost in market value. People were scared and rushed to their bank to draw out their money. This depleted the bank’s cash and many banks closed their doors. Out of the Twenty-five thousand banks in the United States, eleven thousand failed by 1933, because of no money. Banks could not lend any money and were calling on customers who owed on loans to pay up. This caused many people to lose their …show more content…
Many men rode the rail cars as their way of transportation, looking for any kind of work . Sometimes they would share a meal, cooking in a can and throwing in whatever they had to share. Things were used to their fullest. Maybe taking an old adult winter coat, cutting it apart and making winter coats for the children. Nothing was wasted. Country people were a little better off than city people. Country people had their gardens, chickens and livestock to use for food. In the cities, people would line up for blocks, waiting to receive a bowl of soup at Soup
A big cause of the Great Depression was the stock market crash. It was caused by everyone investing their savings and mortgaging their homes in hopes of selling them to make a huge profit. During the Hoover Bull Market the stock prices increased tremendous. …show more content…
They also had to pay off any unpaid loans after the crash. Some people were so depressed that they threw themselves off high buildings to their death. Most of the people lost a lot of faith in wall street after the crash occurred. Just a couple days later, on October twenty-eighth, Black Tuesday, which is when twelve million stocks were sold in one day, that amount tripled (Amadeo). The stock market plundered thirteen percent (Amadeo). Sixteen million plus shares were sold. The stock market crash was called Black Thursday, beginning on October 24, 1929. It was the worst crash in history. In just four days of the crash, thirty billion was lost in market value. People were scared and rushed to their bank to draw out their money. This depleted the bank’s cash and many banks closed their doors. Out of the Twenty-five thousand banks in the United States, eleven thousand failed by 1933, because of no money. Banks could not lend any money and were calling on customers who owed on loans to pay up. This caused many people to lose their …show more content…
Many men rode the rail cars as their way of transportation, looking for any kind of work . Sometimes they would share a meal, cooking in a can and throwing in whatever they had to share. Things were used to their fullest. Maybe taking an old adult winter coat, cutting it apart and making winter coats for the children. Nothing was wasted. Country people were a little better off than city people. Country people had their gardens, chickens and livestock to use for food. In the cities, people would line up for blocks, waiting to receive a bowl of soup at Soup