1. The Crash
EQ:

2. 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)

3. 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.

4. 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.

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

6. 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

7. 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

8. 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

9. 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