The Great Depression started on October 1929 and ended in 1939.

Causes of the Great Depression:
Since prices of crops fell by 40%, farmers were broke, and started to borrow money from the bank.

Farmers couldn't repay their debts, so banks were broke too

People heavily invested on stock, and became rich.

The stock market crashed and the U.S. lost $20 billion dollars

But in october 1929, the stock the stock market crashed and USA lost $20 billion dollars.

Since investors borrowed money from banks, and they were broke, they couldn't repay their debts. Thus, the banks were once again out of money.

Many people lost their jobs, and factories were closed, leaving U.S.A. in depression.

How the Great Depression affected Texas

People went bankrupt when banks couldn't pay them money

The stockholders lost money when the stockholders crashed

Demand for products decreased by over 50%

Business began to close and many citizens lost their jobs

13% of Texans asked the government for help

Chapter 23: The Great Depression
Madison Mellan, Musfirat Shubaita, Brandon Thompson, John Lisenby