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Why did the US suffer an economic depression in the 1920's?

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Introduction

Why did the US suffer an economic depression in the 1920's? In the 1920's life in America was good this was because of several different reasons, the one reason was immigration. Thousands of people from Europe and different places came to make a better life, ether they where poor and wanted to live the American Dream, where everyone profited. This didn't go well as over 860,000 people where coming in so the had to put laws on, the 2 main laws where 'immigration act' of 1917 and 'emergency quota act' of 1921. This made it that no one over 16 who couldn't read was let in, and that only 357,00 immigrants where let in. ...read more.

Middle

moved in front of them, different companies did this and made millions but kept doing it until everyone had a car so no more where needed but they kept making and not selling this lead to people loosing jobs so they didn't have the money to buy food, so the shop lost money and he fired his staff and his went on. Many companies lost money and closed down as they had overproduction. Another reason was because of trade with other countries was difficult as there was an import / export tax with high tariffs on. This stops them selling good to Europe, Asia and Africa. ...read more.

Conclusion

On Thursday 24th October 1929 shares fell faster and lower than any other time befor and since. For this it was named 'Black Thursday'. Shares went down over 200% and every second it dropped, people lost all there money. Companies like Radio where c505 and on that day they when down to c28, even worse that people had got the on the margin and they wanted the rest of there money back and the peple didn't have any so they had to sell there cars, homes nearly everything to pay them back. All these problems made the 1920's in America a bad time to live if you where poor. Laurence Noden 10AW ...read more.

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