Wall Street Crash + The Great Depression Flashcards
What was another popular hobby
During 1920s the American economy was very strong and buying shares in a company was popular.
How many Americans were buying shares
Over 1/2 million americans
What happened by September 1929
Some American banks identified signs of weakness in the economy and they worried about an economic crash. Share prices began to fall.
What happened between 24th and 29th October 1929
The US stock market on Wall Street collapsed. The crash happened and now the Great Depression began.
What was the Great Depression
A time of economic hardship. Poverty
How many American banks collapsed in 1929
659
What happened to Americans when the banks collapsed
Americans lost their savings and now found it hard to buy food or pay rent
What was the cycle of depression
People made unemployed - cannot buy shop goods - shops close down - unemployment rises
How did the Wall Street crash affect Germany
US loans to Germany stopped.
What was the Wall Street crash
Collapse of US economy.
Why were soup kitchens important
Americans could no longer afford to buy food for their families so they went to soup kitchens.
