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The effects of the Wall Street Crash were felt all around America as people starved, businesses became bankrupt and unemployment rose. This era was known as the Great Depression and would last for another ten to twenty years.
In the short term, rich investors lost great deals of money. Whilst, poorer investors, who had borrowed on the margin', could not repay their loans and thus became bankrupt.
After a while, these incidents began to affect the American public. Firstly, unemployment rose as industries sunk into decline. The 14 million unemployed was a stark contrast to the 1.5 million unemployed in the 1920's. To make things worse, wages across the country began fall rapidly as people became more and more prepared to work for less.
This led to many impoverished families being forced into homelessness, poverty and starvation. Every town had a so-called Hooverville, a shanty town of ramshackle huts where migrants lived, while they searched for work. In these Hoovervilles,......
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Title: The Effects Of The Wall Street Crash
Approximate Word Count: 381
Approximate Pages: 2 (250 words per double-spaced page)
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The Effects Of The Wall Street Crash
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