I'm sure that we have all heard of the great depression at some point in our lives. We know that it was a time when many people were without food and without money. Most people however do not know how it even started. They also do not know who it affected and what it took away. This was a rough time in American history but it made our country stronger and smarter.
People often know about what the great depression is but they never really ever know how it was started."On October 24, 1929, the stock market bubble finally burst, as investors began dumping shares in large quantities" (History). This day was known as Black Thursday because of the stock market crash put the entire wall street into a panic. People didn't know what to do. They were selling and buying every stock they could but they all seemed to become worthless. All of their money was just going straight down the drain. Every company was hitting rock bottom; putting people out of jobs and giving them no money to live off of.
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When people heard what was happening they all went straight to the bank and withdrew all their money. The banks were overwhelmed; They had all of their customers withdrawing money and none of them looked to pay off the loans that they still owned them for. With Farmers crops and profit going belly up there was nothing left to pay of the loans with. Black Thursday was a very scary time for many people and their families. "Overnight, hundreds of thousands of customers began to withdraw their deposits. With no money to lend and loans going sour as businesses and farmers went belly up,