The Great Depression

The Great Depression

The Great Depression occurred on October, 27 1929 during the presidency of Herbert Hoover. The person I interviewed was not alive during the Great Depression, but still knew quiet a bit about it. They, (meaning the person I interviewed) learned about the Great Depression through school, parents, grandparents, and research.

The stalk market crashed in 1929 causing the Great Depression. People put all their money into banks and into stocks. When the stoke market crashed people lost their money not only in the stocks, but also in their bank accounts, because the banks were not federally insured by the government. That fatal day was called "Black Thursday".

12 million people lose their jobs right when it happened, 20 thousand people were being laid off every day, 20 thousand companies went bankrupted, 1616 banks went bankrupted, 1/20 farmers were kicked off their land, and 23,000 people committed suicide in the first year of the Great Depression. Although the Great Depression was world wide, Germany was the only country except the U.S. to reach such a high percentage