The strength of America's economy in the 1920's came to a sudden
end in October 1929 - even if the signs of problems had existed
before the Wall Street Crash. Suddenly the 'glamour' of the Jazz
Age and gangsters disappeared and America was faced with a major
crisis that was to impact countries as far away as Weimar
Germany - a nation that had built up her economy on American
loans. The huge wealth that appeared to exist in America in the
1920’s was an illusion. For example the African Americans and
the farmers had not benefited in the Jazz Age but neither had
60% of the whole population as it is estimated that a family
needed a basic minimum of $2,000 a year to live (about £440) and
60% of US families earned less than this. Almost certainly some
of the 60% included those who had gambled some money on Wall
Street and could least afford to lose it in the crash of October
‘29. The very rich lost money on Wall Street but they could just
about afford it. But the vast bulk could not afford any loss of
money. This h