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Event:  Oct 1929 - Stock Market Crash
Brief Description:  Even before the 1929 stock market crash, business had begun to decline across the nation. After the crash, the country sank steadily into the most acute depression in its history. Millions of people lost every cent they owned, and as a result, some committed suicide. Banks failed, factories shut down, stores closed, and business seemed almost paralyzed. Foreign trade almost came to a stop. Beginning in late 1929 and continuing throughout the 1930s and early 1940s, conditions grew steadily worse. Many were out of work, businesses went bankrupt, farm prices fell lower than ever before and farm mortgages were foreclosed. The United States government was forced to rescue the economy with various measures, such as intervention into business, labor programs, and social welfare.
Decade:  1920 - 1929

 

 

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