Effects of The Crash

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  • Effects of the Crash
    • Bankrupt, they couldnt pay back loans
    • Homes lost, people could'nt pay mortgages
    • People who were sensible and had savings lost them because of banks closing
    • When banks recalled loans Farmers suffered
    • Confidence in 'individualism' was shattered
    • From 1929 - 1933 11,000 banks stopped trading
    • Demands dropped
      • As a result production fell and so did wages and jobs
    • As a result production fell and so did wages and jobs

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