The Great Depression : The Stock Market Crash Of 1929 Essay example

967 Words Mar 23rd, 2015 4 Pages
The Great Depression was a tremendously hard experience for every single American during the 1930s. The Great Depression was a time period between 1929-1939 that started when the stock market crashed leading to a multitude of businesses closing or laying off their workers. Most families could no longer afford to buy things, like clothes or coal to heat their homes during the winter, during this time period. Dust Bowl farmers couldn’t produce crops for consumers, factories or even for themselves. They couldn’t get jobs in the city like city dwellers. This time period was a very hard time to survive. Furthermore, Dust Bowl farmers had a more difficult experience than city dwellers. The most effectual cause of the Great Depression was the Stock Market Crash of 1929. The crash, however, only lasted for about four days. 1929 through 1932 was a slow sell-off, meaning that stock was just slowly being sold over a period of three years. The Dow Jones Industrial Average decreased from 381.2 on September 3, 1929 to 41.22 on July 8, 1932; that is a loss of 90% of its value in three years. Whenever the crash happened people immediately went to their banks and withdrew all their money. This run on the banks caused banks to fail, furthering the already crippling economy. The cities were made up of many factories and stores. The Great Depression caused many of these factories and stores to shut down. This caused many workers to lose their income. Unfortunately, the people…

Related Documents