Great Depression- Adam Hade

American_union_bankEngland, Arbeitslose vor Gewerkschaftshaus

Dear Fifth Graders at Shady Grove,

The Great Depression was a dark time America.  Many people lost their jobs and all their money.  People were out on the streets just trying to make a buck.  During the 20’s people were overspending and putting it on credit.  Credit is when people buy something and then pay it off later when they have the money to pay for it.  As time went by people couldn’t pay it off and faulted on their payments. Banks also handed out loans to help people pay off debts, when they couldn’t pay back the banks the banks ran out of money. The banks closed and lost everybody’s money when they closed.  That is what sparked the Great Depression in the 1930’s.