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The Stock Market Crash of 1929 did not cause the Great Depression but was the result of the weaknesses in the economy that had been growing all during the decade of the 20s and the mania for speculation on the Stock Market. Middle class families lost their savings. Bankers and other companies that speculated on the Market went broke. The closing of banks had an impact on the people who had placed their savings in the banks and lost just about everything. Corporations and businesses shut down causing more unemployment. People who had taken out mortgages during the 20s now found themselves unable to make the payments. Houses were forclosed upon. Everyone had to cut consumption which further weakened the economy, as business and industry found themselves stuck with inventory no one could afford to buy. Jobs were scarce and many men simply turned to begging or "rode the rails" looking for work. Unemployment continued to soar during the 1930s.

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