The Great Depression

About the great depression

The Great Depression was an economic drop in mostly North America and Europe. It started in 1929 and lasted untill 1939. In the United States 25,000 banks had failed. During 1929, unemployment had risen to about 12 to 15 million workers. The stock market crash was the main cause of the Great Depression. Millions of people lost their jobs, farmers and businesses were bankrupted.

What caused The Great Depression

The stock market crash was the beginning of the Great Depression. Many banks had invested most of their savings in the stock market, these banks were forced to close when the stock market crashed. When a few banks closed, it caused people to panic across the country. When the people across the country tried to withdraw all of their savings from the bank, it caused other banks to close. Also the people that didn't withdraw in time became bankrupt as well.
The Great Depression