Highlight the effects of the recession of 1930 on the US economy.
1. Wall Street Exchange crashed in 1929.
2. Fearing in a fall in prices, people made frantic efforts to sell their shares.
3. On single day, 24 October, 13 million shares were sold. This was the start of the great depression.
4. Over the next three years, between 1929 and 1932, the national income of the USA fell by half.
5. Factories shut down, exports fell, farmers were badly hit and speculators withdraw their money from the market.
6. The effects of this recession in the US economy were felt worldwide.
