People Want their Money Back!
A huge amount of people waiting outside the bank during the Depression for their money in the bank. Banks were unable to pay people their money due to so many un-payed debts.
This chart shows the increase in debt failure from 1925 to 1933.
The economy in the 20s and 30s are basically the complete opposite. In the 1920s, the economy could not be better, giving it the title of The Roaring 20s. During the 1930s, it was terrible and could not be worst. Businesses closed, and a huge amount of people lost jobs. On the Plains in the 1920s, there as an unusual amount of rain making it okay to farm there, but in the 30s, the rain stopped and the soil was dry. This caused huge dust storms that destroyed crops, and killed animals and people. Farmers prices were horrible in the 1920s, and they had a surplus amount of goods that were not being bought. Foreclosure was common for farmers. They were making no money, therefore when the 30s came, life got even worse. Prices dropped even lower than they had before and more farms were shut down. This was the opposite of what was happening in the urban areas. People were buying more causing the industry to grow and flourish throughout the 20s. Stockbrokers were making millions due to everyone investing in the stock market and banks were doing well because of all the money everyone was spending. When the market crashed in 1929, stockbrokers lost huge amounts of money, and banks began closing. The 30s was an obvious downturn for these people. President Hoover failed to help anyone and let private charities such as churches support individual people. Fortunately, when FDR took office he began to help stockbrokers and banks, and farmers too. Finally, when WWII occurred, it brought the U.S. out of the depression.
Bank Holiday by FDR