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1930s Economy Dbq

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An economy that is good is very important in a country. In 1929, on the last day of trading, President Hoover did announce that the economy of United States was fundamentally sound. This announcement made the Department of labor in United States to predict that in the next year, 1930, there would be an increase in the number of employments. Things did not go as expected because the economy became bad. This made most investors and even the public in general, withdraw their money from banks because they feared banks would get out of business. Due to this crash in economy, most companies did not stay in business for long. This situation made even the best paying company of Mr. Ford lower the paying wages of its employers by about 1 dollar every

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