At first, it appeared the harm done by the stock market crash could be contained. No banks or businesses failed, and it was hoped that the economic damage would be minimal.
But in the agricultural regions of the United States, the crash plus a poor harvest in 1930 pushed many American farmers, who were already struggling, into bankruptcies. Rural banks in the Midwest and South began to fail, and then the failures spread to New York City and beyond.
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Playlist:
Fanfare
Opening Theme
Symphony No. 9 in D minor
Composed in 1824 by Ludwig van Beethoven. Public domain.
Performed by the Skidmore College Orchestra. Public domain recording. Source.
Closing Theme
Except when otherwise indicated, the contents of this podcast are © and ℗ 2015, 2016, 2017, 2018, 2019, 2020, 2021 by Mark Painter, all rights reserved. Some music and sound effects used by arrangement with Pond 5.