The Economics of Agriculture
Auctioneer
Four-row tractor corn planter
Mechanical Corn Picker
Farm foreclosure
Soil erosion
Conservation tilling
Cows and calves
Bank Closures
Iowa Farmers Strike
The Great Depression: Strike Turns Violent
Overproduction Leads to Low Prices
The New Deal Brings Relief
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Bank Closures
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Time Frame: 1929-1939
During the 1920s about 300 banks closed in Iowa leading up to the Great Depression.
The Iowa Heritage Hard Times
©1979
Iowa Public Television
©1979
Iowa Public Television
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Transcript
If farmers suffered, then small towns suffered. And if small towns suffered, then their financial centers, the banks, suffered. When news got out that a bank was about to close, people panicked and rushed to withdraw their savings. This only made the inevitable death of a bank come sooner. During the 1920s over 300 banks closed in Iowa and customers at the end of the line found their savings had vanished over night.
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