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Published byBertina Gilmore Modified over 8 years ago
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Causes of the Great Depression Unequal Distribution of Wealth causes lack of purchasing power among bottom 50% households Oligopolies create artificially high prices Agricultural overproduction depresses commodity prices Unregulated banking industry International: U.S. tariffs force European govt’s to countertariff and default on debt payments Poor Gov’t policy Buying Stocks on Margin
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Unemployed Marchers
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Numbers of Banks and Bank Suspensions Year Number as of 12-31 Suspensions 192924,633659 193022,7731350 193119,9702293 193218,3971453 193315,0154000 193416,09657 Data are from Table V 20-30 in Historical Statistics of The United States: Colonial Times to 1970, 1975, p. 912.
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Run on a Bank
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