Stock Market Crash Hysteria Subsides Rockefeller JP Morgan October 31 1929 B38 For Sale

When the Wall Streetstock marketcrashed in October 1929, the world economy was plunged into the Great Depression. By the winter of 1932, America was in the depths of the greatest economic depressionin its history.

The number of unemployed people reached upwards of 13 million. Many people lived inprimitive conditionsclose to famine. One New York family moved into a cave in Central Park. In St Louis, more than 1,000 people lived in shacks made from scrap metal and boxes. There were many similarHoovervillesall over America. Between 1 and 2 million people traveled the country desperately looking for work. Signs saying 'No Men Wanted' were displayed all over the country.

Many children were deserted and left homeless during the Depression

By the time of the election in November 1932, Hoover's popularity had reached rock bottom. It was not even safe for him to go onto the streets to campaign. After his heavy defeat, Hoover told his friends,"we are at the end of our string... there is nothing more we can do". The American economy did not fully recover until the USA entered the Second World War in December 1941.

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