Great Depression – Davis Bryan

news paper  picture

Dear Mason,

In the 1930’s money became less valuable because people were spending too much money on credit. Credit is when you buy something at one time and pay for it later. This turned out to be a problem because people later would not have enough money to pay for it. They paid too much at the beginning and didn’t save enough to pay when the government told them to. This made banks loan out money to the people who couldn’t afford their credit. This caused banks to close because they would run out of money and people went into panic. Therefore they sold all of their stocks, which is when a person pays money to be a small owner of a company and you make more or less depending on how the company does. All of these things that happened led to the Great Depression.

-Davis