Today Is July 8

The Dow Jones Industrial Average reached its lowest point of The Great Depression on July 8, 1932, closing at 41.22, down 89 percent from its peak in 1929.

An impoverished American family living in a shanty, 1936

The Great Depression was a severe worldwide economic depression in the 1930s. The depression originated in the United States, where it began in August 1929, when the country's economy first went into recession.

The Great Depression became worldwide news with the Wall Street Crash of October 29, 1929 (known as Black Tuesday). It was then that the effects of a declining economy were felt, and a major worldwide economic downturn ensued.

During the Great Depression people often made clothes out of feed sacks. Seeing this, distributors started to print their feed sacks with different colors and patterns to help people remain at least somewhat fashionable.

Because of the great economic slump, many Americans found themselves without work and had no money to buy food. Consequently kitchens distributing free soup to the needy started springing up in most large cities in the United States. For the most part it was churches and charity organisations like the Salvation Army, whic provided food for the poorest.