The Villain of North Carolina in the 1920's

State & Local History Prior to the Great Depression

The Great Depression is the term given to the crisis that resulted from the deterioration of the economic growth rates in most countries of the world in 1929 and ended in the thirties of the last century or early forties of the same century at different times. The Great Depression of the largest and most important period of economic decline known to modern history, and in the present century is an indicator to measure the depth at which it can be to air the global economy.

The U.S. financial markets was the starting place and the first victims of the crisis, history has been the collapse of the New York Stock Exchange in the City or Wall Street On October 24 / 1929, called "Black Thursday", followed by "Black Tuesday" on October 29 / October of the same year, and it happened due to put 13 million shares for sale but did not find buyers to lose value. Economic situation and the dissemination of panic among investors in the stock market initiated the brokers to sell shares, only to find thousands of shareholders themselves penniless. It was announced that it affected dozens of financial institutions, bankruptcy and closed many factories, causing huge numbers of unemployed and the stop of production, and moved the crisis spreading like wildfire to all global markets (Hamilton, 145).

Effects of the Great Depression on Your Region

North Carolina's foreign trade felt the full impact of the global crisis of 1930 and the main cause of such intensity was that of all sectors of the North Carolinian economy, the depression hit first and hardest mining. The gold value of international trade in North Carolina fell proportionately more than any other country in the world, according ...