great depression

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Title: great depression

Essay Details:

Subject: American History

Author: Holly L

Date: April 15, 2015

Level: University

Grade: A

Length: 3 / 683

Essay text:

Up to 40% of the available money supply normally used for purchases and bank payments was destroyed by all these bank failures. The debt became heavier, because prices and incomes fell 20?50%, but the debts remained at the same dollar amount. There had been an enormous amount of stock purchasing during the 1920's. Newspapers and magazines were filled with stories of people becoming rich overnight by going into the stock market, and thousands of Americans rushed to buy stocks, even if they had to borrow money to make the buy them. Instead of looking for danger signs, most people assumed that prices would just keep on rising...

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