insurrectionists

Hooverville

The needy drew down whatever savings they had, turned to their families, and sought out charities for public assistance. Soon they all were depleted. Unemployed workers and cash-strapped farmers defaulted on their debts, including mortgages. Already over-extended banks, deprived of income, took savings accounts down with them when they closed. Fear-stricken observers went to their own banks and demanded their deposits. Banks that otherwise might have endured the crisis fell prey to panic, and shut down as well.