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Reasons for Great Depression and the year?

Updated: 8/16/2019
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15y ago

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The main causes for the great depression where:

Debt - There where massive lay off's and the unemployment rate was as high as 25%

American Smoot-Hawley Tariff Act - This seriously reduced international trade and damaged the profits of many farmers.

US Federal Reserve and Money Supply - Many people started doing "bank runs" with drawing all of their funds. as a rule banks loan out more money than they have. This mass withdrawing caused banks to go bankrupt.

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