Issue #115 • January/February, 2009
I was a girl of 8 when the stock market crashed in 1929. It was the Great Depression, and unless you were living during the Depression years, you can't really understand how tough they were. Our parents knew, however, as they went about trying to raise families under the worst of economic circumstances.
The Great Depression didn't happen overnight. There is no way you can select a certain day and say that's when it began. It started coming on sometime during the late 1920s and lasted well into the 1930s. At its peak, approximately 25 percent of American workers were without jobs. Chaos reigned as banks and insurance companies failed. Worst of all, with no bank deposits federally insured, many people lost their savings unless they were among the first to draw their money out of the banks before they closed their doors.
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