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During the roaring twenties several loans were handed out to farmers who could never pay them back. The farmers could never pay the money back due to over-production, management costs and droughts. This resulted in banks taking money from people's savings and using it on the farmers. When the stock marketcrashed and people wanted their money it wasn't there due to the loans. The banks were forced to shut down and everyone lost their money.
The value of money increased during the Great Depression due to deflation. However, most individuals end up having less money than the value of the money increased, giving a net negative effect of personal income and wealth.
There was plenty of money around, however the ordinary people were restricted in earning it, and those who had it hung on to it and their property.
well the stock market began to to crash in 1929 which overlaped all of the forclosers
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Was working at the great depression easy to earn money?
It was difficult to find a job during the Great Depression. Many businesses closed, or have to reduce operations. About 1 in 4 people had no job. Not easy at all.
How many people jumped off of skyscrapers during the Great Depression?
Not very people at all jumped off of skyscrapers during the Great Depression. Building new skyscrapers were put on hold after the Great Depression but no because people were jumping off of them.
Why was the game of monopoly a huge seller during the Great Depression?
I think that the game of Monopoly was popular during the great depression because in Monopoly, you take chances, just like you do in life, and taking the chance of investing all your money in stock was the risk many Americans took. It was also popular because people wanted to have a distraction and a fantasy place to get away from all their debt and be rich.
What are 4 impacts on the Great Depression?
unemployment money losses bank lost all there money people lost there homes; lived in hooverville
How do you feed your family during the great depression?
well first of all I think it doesnt concern any of your business
What insured banks during the great depression?
There was no insurance. That's why their depositors lost all their money. This was the motivation for the establishment of the FDIC.
Was working at the great depression easy to earn money?
It was difficult to find a job during the Great Depression. Many businesses closed, or have to reduce operations. About 1 in 4 people had no job. Not easy at all.
Why did millions of Americans lose their savings during the great depression?
Banks did not have enough money to pay all withdrawing depositors, so they shut down.
How many people jumped off of skyscrapers during the Great Depression?
Not very people at all jumped off of skyscrapers during the Great Depression. Building new skyscrapers were put on hold after the Great Depression but no because people were jumping off of them.
What war was going on when hoover was in presidency?
No war at all. he was the president during the Great depression.
What were all the reasons the great depression started?
unemployment, lose of money=stock market ,and no food
Why was the game of monopoly a huge seller during the Great Depression?
I think that the game of Monopoly was popular during the great depression because in Monopoly, you take chances, just like you do in life, and taking the chance of investing all your money in stock was the risk many Americans took. It was also popular because people wanted to have a distraction and a fantasy place to get away from all their debt and be rich.
What caused the death rate to go up during the great depression?
Suicide, nobody wanted to live then People were poor losing all there money. So they took the easy way out
Did the great depression effect all of America?
Yes it did many people lost all their money cause they saved it in banks
What are 4 impacts on the Great Depression?
unemployment money losses bank lost all there money people lost there homes; lived in hooverville
What did prime minister Bennett give twenty million dollars to during the Great Depression?
Prime Minister Bennett helped lots of people during the Great Depression. When people wrote him letters asking of his help, he sent them the things they asked for things like money, clothes and even bicycles. He gave people money from his own wallet. It's possible all of his donations added up to 20 millions dollars.
What happened to the mentaly retared during the great depression?
thay all died like peter griffen
