The Cause

- The stock market crash of 1929

- Banking panics and
monetary contraction
The Cause

The gold
standard
The Cause

Decreased
international
lending and
tariffs
The Effect
The Great Depression of 1929 devastated the U.S. economy.

Half of all banks failed.

Unemployment rose to 25 percent and homelessness

increased.

Housing prices plummeted 30 percent, international

trade collapsed by 60 percent, and prices fell 10 percent per
year.

It took 25 years for the stock market to recover.

Farmers Grow Angry and Desperate

In the early 1930s prices dropped so low that many farmers went
bankrupt and lost their farms

Farmers banded together like a labor union and threatened to

prevent any milk from getting from farms to towns and cities.

They set up blockades on country roads and made any trucks

carrying milk, cream, butter or other farm products to turn around
and go back home.
https://www.youtube.
com/watch?v=byAxhr
Uhjfw
Town and Cities Suffer Too

2,200 workers lost their jobs between 1927 and 1934

only 13 new businesses opened—employing only 300

workers. That meant a loss of 1,900 jobs.

in the face of starving families at home, some men signed up

for welfare payments

Town families could not produce their own food. Many city
dwellers often went hungry.