Bank Collapses Multiple crises in banking Beyond New York and beyond the stock market Some 9,000 banks failed, largest clustering: 806 . . . Nov.-Dec. 1930 573 . . . April-Aug. 1931 827 . . . Sept.-Oct. 1931 283 . . . June-July 1932 Bank "holiday" in Feb.-March 1933 Industrial Implosion Work force at Ford falls from 128,000 in 1929 to 37,000 in 1931 Contemporary official estimate of unemployed from 429,000 to 7,000,000 (16%) Later acknowledged to have reached 25% Many experts estimate it was closer to one-third of the work force Prices fell 31%, wages 39% |
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