banks and business collapse
banks were investing money into business which failed so the banks lost all there money and couldn't give people the money they were storing there.
banks also were giving out lots of loans which they could not pay back.
11000 banks closed
effects on other countries
-lots of higher tariff, which lead to less international trading. other countries had a depression also. most of the world did too.
-lots of radical leaders
depression on the cities
hoovervilles- places where people build little shack like houses to live in during the depression
lots of kids dropped out of school and took trains from town to town to look for work
depression on the rural areas
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