The beginning of the great depression was the stock market crash in 1929 also known as " Black Tuesday" fourteen billion dollars in vestments were lost in tha single day. Within the next two months forty billion in stockholder money had been lost crippling the stock market and making a rebound impossible. Another cause was the failure of banks, this was before federal deposit insurance, an estimated three thousand banks closed in 1930 so when a banks closed people simply lost their money. With these banks collapsing people fled to banks to withdrawal their money in hopes of salvaging what little they had. Then Congress passed the Tariff Act of 1930 which set record high tax rates on imported goods, that sparked a lot of trade partners overseas
