1. Stock Market Collapse
Farmers were the first victims of the great depression because the federal government favored new industries as opposed to agriculture. ... American farmers were encouraged by the government to buy more land and to modernize. ... This overproduction was encouraged by the government, but when the bottom fell out of the market, farmers could not rely on the government to help them with the surplus products. ... Nevertheless, business and bankers continued to speak optimistically of the economic future and stock market speculation on margin continued until panic set in on October 24th and conti...
- Word Count: 1658
- Approx Pages: 7
- Grade Level: Undergraduate