Why the Wall Street Crash led to the Great Depression
- Created by: edie cooke
- Created on: 30-04-13 17:26
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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.
- Unemployment then led to a failure to paying mortgages.
- GREAT DEPRESSION.
- Mass unemployment.
- Banking crisis.
- American Agriculture disaster.
- Economic
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