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Storyboard Text
- Overproduction- Industry
- now what am i going to do
- Overproduction- Farming
- i just wanted a tractor
- speculation
- more stocks! more!
- overproduction caused the price of goods to decline causing companies to lay off workers and left large sections with no money and no job making people purchase things with credit
- buying on margin
- we have nothing the bank gave away our life savings
- During WW1,farmers purchased tractors and began to grow more crops after the war ,demand decreased and they were unable to repay their loans
- Shaky Banking
- i want my money back now!!!!
- we don't have your money
- people were speculating about the values of the stocks and rushing to buy more and become rich
- Restrictions on International Trade
- 10.50
- american
- 10% was put down from the buyer and the rest was financed (loaned) when people lost their savings it was gone forever
- we are gonna do
- banks were making bad investments and companies were going out of businesswhen people lost their savings it was gone forever
- was meant to encourage Americans to buy only american products because foreign countries did not want to pay the expensive tariff
- foreign
- 10.00
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