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The crash on Wall Street in 1929 is believed to be a major cause of the Great Depression. The worst market crash occurred on a Tuesday, and that day earned the nickname Black Tuesday.
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Other causes of the Great Depression have been determined to be the burst of a credit bubble, a weak banking system, and overproduction.
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On Black Tuesday $14 billion was lost. During that week the total lost was $30 billion.
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As a result of the stock market crash many people committed suicide by jumping from windows in New York City.
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Herbert Hoover was the president when the Great Depression began. He made the mistake in 1930 of telling Americans that the worst was over. He was very wrong.
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The unemployment rate between 1933 and 1934 was one in four people (25%). It would not fall below 10% until the Second World War began.
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It is estimated that almost half of the children in the United States did not have enough food, proper housing, or medical care during the Great Depression.
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The board game Monopoly was released in 1935 and became very popular.
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Approximately 60 to 80 million people went to see a movie each week during the Great Depression. King Kong, The Wizard of Oz, and Gone with the Wind were all released during the Great Depression.
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Approximately 750,000 farms were lost through sheriff sales or through bankruptcy during the Great Depression. Penny Auctions were popular. At a Penny Auction neighbors of the broke farmer would keep bids low and help him buy back his farm for only pennies.
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Crime became a way of life for many during the Great Depression as it was almost impossible to find work.
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In New York City approximately 6000 people tried to sell apples to support themselves. They peddled the apples on the street.
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Approximately 1.5 million men abandoned their families during the Great Depression, leaving wives and children with no income or support.
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The dust storms and severe drought in the 1930s made the Great Depression even worse as many farmers were forced to abandon their land.
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Many people who lost their homes during the Great Depression lived in shanty towns. These towns were also often called Hoovervilles. The food served in soup kitchens was sometimes referred to as Hoover stew.
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The newspapers that homeless individuals used to keep themselves warm were often called Hoover blankets.
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Some used mules to pull broken cars, which they called Hoover Wagons.
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