The Great Depression

The Great Depression






Edited by
Dennis Nishi







The events of the stock market crash on October 24, 1929 led to what is called “The Great Depression”. That day in history is also called Black Thursday. The following Tuesday, known as “Black Tuesday” is remembered as a day when the stock market took the largest drop in its history. No one knows exactly what went wrong to cause such a catastrophe but the results were devastating. The Great Depression lasted for ten years. The economic slump had a domino effect and took its toll on people at different times. A few times the economy actually looked like it was getting better, and then it would fall again.
Businesses began to close, jobs were scarce, and banks were shutting down, wiping out the life savings of millions of people. In 1930, about 26,000 American businesses collapsed. The next year, even more shut down. Almost 3,500 banks closed down by 1932. Twelve million people were now unemploy...