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Causes of the Great Depression

Causes of the Great Depression. False Prosperity. Low taxes. Overproduction in farm machines, radios, cars, refrigerators. Too much consumer credit. Stock Market Crash. Too much buying on margin. Black Tuesday, October 29, 1929: over 16 million shares dumped. Banking Crisis.

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Causes of the Great Depression

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  1. Causes of the Great Depression

  2. False Prosperity Low taxes Overproduction in farm machines, radios, cars, refrigerators Too much consumer credit

  3. Stock Market Crash Too much buying on margin. Black Tuesday, October 29, 1929: over 16 million shares dumped

  4. Banking Crisis Stock Market Crash caused people to panic, withdraw money Banks had used depositors money to invest in stock market; when market collapsed, the money was lost Banks closed: 9000 in 1930

  5. Unemployment Rose to 25 – 35% of total labor force (had been less than 5% in the 20s) Farm income declined 60% one-third lost land

  6. Trade Collapse High tariffs block US trade Weimar Republic unable to pay reparations to European countries or US bank loans

  7. Republican Policy Laissez-faire economic policies Poor use of monetary or fiscal policies

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