What Caused The Great Depression

As you stand in the street you become stunned as you see a stray newspaper with the words Stock Market Crashes sprawled across the top in big bold letters. You now hurry to withdraw all your precious money out the bank, but it’s too late. You are now a part of a dark time called the Great Depression. The Great Depression caused many people to die and lose their life’s savings. The Stock market crashing was a huge cause to all of this happening. This left the country without any money. The Great Depression was an economic disaster that caused bank failures, drought problems, and reduction in purchasing across the board.
The Stock Market crash of 1929
The Stock Market crash was on October 24, 1929. This day was called Black Tuesday Just like the day before it, Black Monday. A ton of money was lost on Tuesday like Billions of hard earned money, all the stock prices dropped too. This seemed like the beginning of the end for most people. People lost their houses, possessions, as well as their money and some people cry over losing their phones think about if they lost their house. Family’s economic problems made the crash even worse than it was. The Stock Market began to regain their losses by the end of the 30s, but the gains weren’t enough to survive. The people
The American bank system could not work properly. Banks couldn’t loan out or take in money from customers. The customers tried to withdraw all their money before the bank failed with the others. Those that didn’t make it in time lost their money. 11,000 of 25,000 banks had closed in 1933. During the first ten months of the crash 744 banks failed, and 4,000 banks closed in 1933 alone. Roosevelt did his best to shore up the flagging bank system. Roosevelt then decided to declare a national bank holiday for 3 days. After the 3 days some banks regained some control. Bank failures caused many families to lose their life’s saving and their