The Wall Street Crash - Consequences

Banks go out of business

• October 1929-30 - 700 banks closed
• By June 1932 - 5000 had gone bust
• Over $3 Billion of deposits were lost

National Insurance (GNP) falls

• National income in the US fell by almost $10 million in the first year after the crash
• Within 5 years, this has fallen by almost half

Unemployment

• Prices of goods…