Bust – Americans’ experiences of the Depression and New Deal (AQA GCSE History): Flashcards
📚Flashcards
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Practise the cards
12 cards from this deck
When the Wall Street Crash occurred
When the Wall Street Crash occurred
October 1929
Economic period ended by the Wall Street Crash
Economic period ended by the Wall Street Crash
Roaring Twenties
Depression triggered by the Wall Street Crash
Depression triggered by the Wall Street Crash
Great Depression
Date known as Black Thursday
Date known as Black Thursday
24 October 1929
Shares sold on Black Thursday
Shares sold on Black Thursday
13 million
Shares sold on 29 October 1929
Shares sold on 29 October 1929
16 million
% of value American shares lost
% of value American shares lost
89%
Banks that closed in 1929
Banks that closed in 1929
Over 600
Buying shares with borrowed money
Buying shares with borrowed money
Buying on margin
Why banks failed after the crash
Why banks failed after the crash
Invested in stocks, couldn't repay depositors
People rushing to withdraw savings from banks
People rushing to withdraw savings from banks
Bank run
Key production problem in the 1920s
Key production problem in the 1920s
Produced more goods than could be sold