The Great Depression of the 1930s affected Americans for generations.The complete collapse of the stock market began on October 24 2929, when 13 million shares of stock were sold. On Tuesday, October 29, known as Black Tuesday, more then 16 million sheres were sold. The value of most shsres fell sharply,resulting in financial ruin and widespread panic. Although there have been other finanacial panics. None has had such a devastating and long-term effect as the Great Depression. By 1932, the industrial output of the united states had been cut in half. One-fourth of the labor force, about 15 million people, was out of work, and hourly wages dropped almost 50 percent. In addition, hundreds of banks will fail. Prices for agricultural products droppeb to their lowest level since the Civil War. More than 90,000 businesses failed complete. Statistics, however, cannot tell the story of the extraordinary hard-ships the masses of americans suffered. For nearly every unemployed people, there were dependents who needed to be fed and housed. People in the United States had never known such massive poverty and hunger before. Former milliionaires stood on street corners trying to selling apples at 5 cents apiece. Thousands lose their homes. Because they could not pay their mort-gages. Some people moved in with relatives. Others moved to shabby sections of town and built shelters out of tin cans and cardboard. Homeless people slept outside under old newpapers. Many Americans waited in lines in every city,hoping for something to eat. Unfortunately,many of these people died of malnutrition. In 1931 alone, more then 20,000 Americans committed suicide.