answersLogoWhite

0


Best Answer

During the roaring twenties several loans were handed out to farmers who could never pay them back. The farmers could never pay the money back due to over-production, management costs and droughts. This resulted in banks taking money from people's savings and using it on the farmers. When the stock marketcrashed and people wanted their money it wasn't there due to the loans. The banks were forced to shut down and everyone lost their money.

User Avatar

Wiki User

โˆ™ 2013-03-13 21:18:03
This answer is:
User Avatar
Study guides

US Civil War

20 cards

Why were poll taxes created

What is a graduated income tax

What sparked the beginning of the Civil War

When Abraham Lincoln was elected president what was the result for the southern states

โžก๏ธ
See all cards
3.58
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
77 Reviews

Add your answer:

Earn +20 pts
Q: Where did all the money go during the Great Depression?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What insured banks during the great depression?

There was no insurance. That's why their depositors lost all their money. This was the motivation for the establishment of the FDIC.


What was the role of speculators during the great depression?

they were all Jews


Who was the impacted the most during the great depression?

All of the banks.


Was working at the great depression easy to earn money?

It was difficult to find a job during the Great Depression. Many businesses closed, or have to reduce operations. About 1 in 4 people had no job. Not easy at all.


Business during the great depression?

all the people didnt have money they were selling their own items for money so they could get food they rarely got food


How did the bank fail during the great depression?

Everyone wanted money so the bank loaned all of its money and the bank could not give money back to those who deposited it


Who was hurt by the great depression most?

the people who lost all their money


What was true about immigration during the great depression?

all immigration was stopped during the economic crisis


Were there any deaths during the Great Depression?

well see there was not very many deaths in the great depression but in count there was 89 all together


Why did millions of Americans lose their savings during the great depression?

Banks did not have enough money to pay all withdrawing depositors, so they shut down.


What was the peak percentage of unemployment during the great depression?

25% for all of 1933


How were the jobs during the great depression?

i think it was awful of all the things i read

People also asked