Why the Wall Street Crash led to the Great Depression

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  • Why the Wall Street Crash led to the Great Depression.
    • Economic
      • Many banks ceased to exist as they could not pay back investors, 1933 there were almost 4000 bank closures.
      • Business confidence hugely reduced and consumer spending decreased.
        • 1933, 100,000 companies had become bankrupt.
      • Those who did actually survive, cut production because consumer spending had decreased.
        • This led to less jobs, less working hours and lower wages.
    • Unemployment
      • With certain business closures such as the car industry, industrial workers became unemployed.
      • Farm workers who did not own their own land lost their jobs and were forced to travel around just looking for work.
    • Social
      • Unemployment then led to a failure to paying mortgages.
        • Banks then repossessed homes which led to homelessness.
      • Mass unemployment.
      • Banking crisis.
      • American Agriculture disaster.


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