The Great Depression
The Roaring Twenties marked several years of economic expansion for the country, but that came to an end in 1929. The stock market crashed in October, and the banking panics began. Once again, businesses failed and unemployment soared. With no jobs and no money, people were desperate.
Banks stood at the center of the crisis. People withdrew their money in droves, afraid their bank would collapse and they’d be left with nothing. This made banks even more unstable; nearly one third ended up failing during this period. Of the five original banks in Warsaw, only Lake City Bank survived.
Perhaps because these years were so difficult, they spawned powerful stories. Here are some of ours.