An excerpt from The Great Depression: A Diary.

Eighty years ago this week, the United States experienced the worst meltdown of the stock market in the nation's history. As the effects of the crash rippled through the broader economy, banks began shutting their doors in record numbers.

Benjamin Roth, a lawyer in Youngstown, Ohio, recorded the effects as the banks closed in his town. His diary, previously excerpted on The Big Money, is now available as a book—The Great Depression: A Diary.

November 8, 1931. It is really funny to see professional men “pull in their horns.” Those who became “specialists” during the boom by taking a 3 month trip to Europe are now back in general practice. A good many doctors and dentists have given up their downtown office and are using their home. Same with lawyers. It is the old story of expanding too far and living too high.

Practically every country club including the Youngstown Country Club has closed for the winter.

November 12, 1931. Things remain at a standstill. There is no money in circulation, the stores and business places are deserted and everybody seems to have given up their initiative. The banks are still closed, school teachers are unpaid and there is no money to pay salaries of county and city officials. There is some talk about issuing scrip against bank deposits. Vacant store-rooms on W Federal St. are on the increase and half-price sales are numerous.

Russia-China-Japan seem to be actually at war with over 1,000 killed to date and the League of Nations seems helpless. Because of this war scare the price of wheat and of silver has trebled in the past week. All of these countries are on a silver basis.