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What Caused The Great Depression Essay

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The Great Depression

The Great Depression was a worldwide economic depression in the decade heading up to World War II. The great depression started in most countries in 1930 and lasted until the late 1930’s and middle 1940’s. It was the longest, and most the most widest depression of the 20th century.

There were many causes that started the great depression. There were loads of causes, several things made the great depression happen. Such as, a poor banking system, over spending, and production of goods. One of the main causes of the great depression was a huge market crash in 1929. This stock market crash was the most devastating crash in the history of the United States. On October 29, 1929 (Black Tuesday) the stock market lost $14 billion, making the loss for the whole week to $30 billion. It had taken 23 years for the stock market to hit its highest than …show more content…

Loads of companies went out of business and loads of people lost their jobs. Near the peak of the depression, 1 out of every 4 people were without a job. Between 1930 and 1935, nearly 750,000 farms were lost through bankruptcy.

The unemployment rate in the U.S. during 1910–60, in the years of the Great Depression (1929–1939)

People who lost their homes often lived in what were called “Hoovervilles,” they were named this after President Herbert Hoover. The poor used ‘Hoover Blankets’ which were newspapers used as blankets. People who became homeless would ride on railroad cars, because they didn’t have any money to travel. Around 50,000 people were injured or killed while jumping trains. Many of these people traveled together and were named as homeless.

Unemployed men outside a soup kitchen opened by Al Capone during The Great Depression Chicago, Illinois, the US,

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