The Great Depression And Its Effects - 1166 Words

The Great Depression The Great Depression is one of the single most important events in the financial history of the United States and the world; the effects of and leading to the Great Depression lasted for several years (Shindo). The great depression was a very difficult time in the time that it occurred. It hit people hard and left an everlasting memory (Shindo.) It would lead to a lot of devastating events better all over would feel the affect of this crisis. It was a very unexpected and sudden event that would change America forever. The Great Depression actually started in the summer of 1929, and lasted until 1933 (Shindo.) In 1929 the stock market crashed. Many Americans purchased stocks because they were certain of the†¦show more content†¦In addition, bank closings resulted to the citizens losing their savings and a chaotic situation erupted.Bank failures attributed as one of the causes since more than nine thousand bank failed during the nineteen thirties. The bank deposits became unin sured and this resulted to citizens losing their savings. The banks that survived were too scared to offer loans since the economic situations were uncertain It was caused by such things as fundamental flaws in the prosperity of the 20s . There will a lot more issues that led to this also a lot that weren’t exactly proven but all signs lead to it. Such as the World War. The world war was a very traumatic time in the american lives and also lead to a lot of destruction which also cause a lot of money to help out everything that happened. There were some many devastating events that took place during this tough time known as the world war that they had to sacrifice money for not only damage but heart break The worldwide demand for agricultural goods during World War I vanished after the war and rural America experienced a severe depression throughout most of the 1920 (Nardo.) This led to banks foreclosing farm mortgages and by the early 1930s thousands upon thousands of American farmers were out of business. The U.S. economy was superficial and shallow. Major