The Great

Depression
Checkpoint
The events and causes that led to the Great Depression were quite a few, though the

major one was the crash of the stock market in 1929. It was the “Black Tuesday” on

October 29, 1929 when the stockholders ended up losing over forty billion dollars. There

were more than nine thousand bank failures with no insurance on deposits so people

lost everything they had. People were fearful of the crash and so began to buy less

which led to poor sales for business and led to layoffs of workers. The making of less

goods and services led to the closing of several businesses as inventory overflowed on

the shelves. The high unemployment rate caused people to be unable to pay their bills

and many things were repossessed. The U.S economic policy with Europe was also a

cause because of the high tax imports America implemented. This made countries trade

less with America and place sanction on America as well.