Only the last resort could become a reason for this decision, newspapers published the names of people who got the welfare payments, and it was considered as a disgrace.
After facing real starving times, men started to sign up for government social payments that were a painful decision for the majority of the people.
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The Great Depression is one of the most tragical economic phenomena that took place in the American history and in the world history.
During Depression money of the investors which were in the market for the investments was lost in one moment which caused huge financial losses of clients, the banks were forced to close down.
They depended on stock markets deeply that’s why it caused such a big panic and extreme withdrawal of their money.
At one moment they were not capable to pay the debts, some of them had loans, the issues that occurred in the economy made them go bankrupt.
As a result, they lost their lost business, all means of subsistence on a large scale. The unemployment rate was rising unquestionably in big industrialized cities, in those areas where people were working in one particular industry.
It destroyed the economy, crashed the market, caused the high rate of unemployment. During Depression stock markets crashed, which affected all fields of economy, money was depreciated, prices increased, banks, other enterprises, and companies began to go bankrupt.
Due to actions and events held by the government in order to be involved in the economic system, and their effects, the country’s economy was destroyed during the short period of time.