300
That may sound sort of goofy, but it’s a real reason. While the overall economy had soared in the 1920s, most of the wealth was enjoyed by relatively few Americans. In 1929, 40 percent of the families in the country were still living at or below the poverty level.
That made them too poor to buy goods and services and too poor to pay their debts. With no markets for their goods, manufacturers had to lay off tens of thousands of workers, which, of course, just created more poor people.
What is Too many poor people.