Bank Deposit Protection

how was thr life in the great depression?

the great depression in the 1920s to the1930s

The Great Depression was started by the stock market crash of October 29, 1929 (Black Tuesday). It was not just one event, it just got worst for several years and hit bottom some time in 1933. The Depression continued until 1941, World War II. Most say it was the cause of WWII. The Depression started in the United States but quickly spread to Europe and then the rest of the world. The initial panic and deflation (the value of money increased) caused massive layoffs. The unemployment rate rose to over 25%. The average income fell almost 50%. All segments of the economy where impacted by the economic down turn, manufacturing, farming, mining, and logging, the hardest hit segment was rural farming . Life was hardest for middle and low incomes. It was so hard to find a job that many had to move to find work to buy food to eat.
The basic cause is still being debated, so there was no single factor. The great Depression did spawn many worker protection laws, bank deposit protections, Social Security, and Social Welfare

Guaranteeing the city’s bank deposits


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Deposit Protection and Bank Resolution


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Digital Coin Bank…