Causes of the Great Depression Outline

To what extent was the Wall Street Crash a cause of the Great Depression of 1929? Support your argument with specific examples.

Thesis-
The Wall Street Crash did not have much of an impact on the Great Depression of 1929; the events that led up to it were the major causes of the Great Depression. The main causes that led up to it were: industries discovering new technologies, farmers who could support themselves because there was no longer a huge need for crops, and consumers having less money to spend. These were bigger factors in the cause of the Great Depression becasue they caused the stock market crash.

Main Point I-Industries were discovering new technologies and other companies fell behind
Evidence I-Industries like the railroads, textiles, and steel were no longer needed,they were losing to the newer technologies like cars, trucks, and buses.
Evidence II-Mining and steel demand had dropped because the war had ended
Evidence III-People were building less houses, and therefore using much less resources.
Evidence IV-Coal had become less popular due to the creation of hydroelectric power, and the discovery of natural gas.
Main Point II-Farmers were in debt because of the war.
Evidence I-Crop prices soared during the war, but fell by 40% after the war.
Evidence II-Farmers had thought that the demand would just keep going up, so they had invested in more land and equipment, but when the demand fell they became bankrupt because they could not afford to pay banks.
Evidence III-Farmers tried to sell more, but this only depressed prices further.
Evidence IV-In turn, banks ran out of money and couldn't pay anyone who wanted to take money out because there had been a big panic to take out as much money as people could before the banks ran out of money.
Main Point III-Consumers had little money and couldn't buy goods.
Evidence I- There wss a big gap between the rich and the poor.
Evidence II-The prices of goods were to expensive for consumers, they also had low incomes.
Evidence III-Consumers were buying on credit, and they could not afford to pay back the debt later.
Conclusion-The Wall Street Crash was the effect of the three main problems with the economy: The new technologies and new developments in transportation made railroad and steel and textile industries lose a lot of profit.Farmers became bankrupt becasuse they could no longer afford to pay back the debt they had earned buying more equipment and land. and consumers could not afford to buy anything because the prices of goods were to expensive and their incomes were to low.