Great Depression and Congressional Reforms The period after the First World War, in the early 1920s, was characterized by rapid economic expansion, and the country’s wealth also doubled. Millions of Americans increased their wealth and owned properties, including houses. Millionaires, tycoons, janitors, and all other citizens rushed to invest their savings in the stock exchange, which expanded until its peak until its crash in 1929. It began with the collapse of the stock exchange in 1929, with a further blow in 1930 by the dust Bowl. The years that followed led to investors’ decline, as most of them were wiped out (Conti-Brown & Vanatta, 2020). Panic followed in Wall Street following these events. Investments drop, and so did consumer spending.
