Mar
25th
Tue
25th
U.S. historians estimate that in the first 10 months of 1930 some 744 U.S. banks failed — rising to a total of 9,000 by the end of the 1930s. Savers lost the equivalent in today’s money of $140 billion in deposits by 1933. U.S. unemployment rose to 25 percent from 4 percent in 1929 and prices and incomes fell by 20 to 50 percent over the same period.