Great depression
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Great Depression
The Stock market's success in the late 1920's hid the faults of the American economy. For example there were very few big companies, uneven personal wealth, and people were in a lot of personal debt with credit and loans. This caused Stock prices to fall in October of 1929. People began to panic and pull their money out of the stock market. This brought the marking crashing down. The United States sank into a depression that brought wide-spread suffering. The great depression had a severe effect on American economically, socially, and physically.
Economically Americans were effected greatly. As income a profits fell, factories began to close. In August 1931, Henry Ford closed down the Ford Motor company putting about 75,000 people out of work...