The Crash EQ:

Weakness in the Market Early September 1929 stock prices began to decline. Some investors lost confidence and got out of the market. October 24th the market plunged again (more people unloaded their stock)

The Crash BLACK TUESDAY Tuesday: October 29, 1929 The bottom fell out of the market and panicked investors sold of stock at a record pace.

What Followed the Crash Banks Close Panicked Americans scrambled to withdraw their savings from banks. Banks could not cover all their customers withdrawals. Invested in stock market Loans 1929: 659 shut their doors. By 1933: 6000 were closed. At this point in history the federal government did not insure or protect bank accounts.

What Followed the Crash Businesses Struggle Many companies go bankrupt during the depression Unemployment sky-rockets By 1933 25% of the nations workforce was out of a job.

What Followed the Crash Urban Areas Millions of unemployed laborers were evicted Hundreds of thousands construct shantytowns (Hooverville's) on the outskirts of town Shantytown – little towns consisting of makeshift shacks made of scrap materials

What Followed the Crash Urban Areas Hunger swept the nation Millions were seen digging in garbage cans for food scraps or to find clothing A delicacy due to the possibility of meal scraps Apple cores were actually sold on street corners

What Followed the Crash Urban Areas Starving citizens became common sights in wealthy places like Manhattan Soup kitchen = place where food is offered free to the needy Bread lines = lines of people waiting to receive food provided by charitable organization or public agencies

What Followed the Crash Rural Areas 400,000 farms are lost to foreclosure A huge drought hits the Great Plains during the first half of the 1930s Dust bowl = the desertification of the Great