Crisis of the Great Depression - Research Article from Great Depression and New Deal Reference Library

This encyclopedia article consists of approximately 28 pages of information about Crisis of the Great Depression.
This section contains 393 words
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The Great Depression began in October 1929 with the crash of the U.S. stock market, located on Wall Street in New York City. A common misconception is that the crash was the cause of the Great Depression. Actually, historians recognize a number of causes, and it is impossible to pinpoint which was the most important cause. The causes historians have identified include the following:

  • The agricultural industry was overproducing farm products, and the surplus caused prices to drop. In addition, the European market did not need American farm goods as much as it had during World War I (1914–18).
  • Manufacturing industries had produced more consumer goods than Americans could buy. By 1929 stores and warehouses bulged with goods, so manufacturers began cutting back production and laying off workers.
  • Roughly 75 percent of Americans had no money to save after purchasing necessities. Most of America's wealth was in the...

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This section contains 393 words
(approx. 2 pages at 300 words per page)
Buy the Crisis of the Great Depression Encyclopedia Article
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Great Depression and New Deal Reference Library
Crisis of the Great Depression from Great Depression and New Deal Reference Library. ©2005-2006 by U•X•L. U•X•L is an imprint of Thomson Gale, a division of Thomson Learning, Inc. All rights reserved.
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