The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and in
Unemployed people lined up outside a soup kitchen opened in Chicago by Al Capone, February 1931
A Lone Driller's Water Break drinking from a battered pan during the Texas oil boom in Kilgore, Texas, 1939
Crowd gathering at the intersection of Wall Street and Broad Street after the 1929 crash
Willis C. Hawley (left) and Reed Smoot in April 1929, shortly before the Smoot–Hawley Tariff Act passed the House of Representatives
The Wall Street crash of 1929, also known as the Great Crash, was a major stock market crash in the United States which began in October 1929 with a sharp decline in prices on the New York Stock Excha
Great Depression
…business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street crash of 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Germany. The…
After large market declines on October 28 and 29, The New York Times described the financial community's response to "the most disastrous trading day in the stock market's history". Margin requirements were reduced to 25%, banking leaders expressed assurance of their support, and the sentiment on Wall Street was said to be "more cheerful" after earlier declines.
Unemployed men march in Toronto.