On October 29th investors traded more than 16 million shares and crashing the stock market in the process. Wall street workers flooded the streets in front of the exchange. This crash helped start the country into the Great Depression and an economic collapse that got unemployment to rise up to 24.9 percent.
This was from soup kitchens and breadlines. Many Americans did not have money or food so churches would have free soup for the hungry. Many Americans lives were impacted because people were losing jobs which meant people were losing money. Banks had crashed and lost all of people’s savings. People now had trouble getting food and necessary things to live which made a big impact on Americans. “This rise in the currency-to-deposit ratio was a key reason why the money supply in the United States declined 31 percent between 1929 and 1933.”
Over the next eight years the government instituted a series of experimental projects and programs that all together was known as the New Deal. Roosevelt’s New Deal permanently changed the government’s relationship to the U.S.