In the presidential election of 1912, Eugene V. Debs received 5.99% of the popular vote (a total of 901,551 votes), while his total of 913,693 votes in the 1920 campaign, although smaller percentage-wise, remains the all-time high for a Socialist Party candidate in the United States. In the United States, the Communist Party USA was formed in 1919 from former adherents of the Socialist Party of America. One of the founders, James Cannon, later became the leader of Trotskyist forces outside the Soviet Union. The Great Depression began in the US on Black Tuesday, October 29, 1929. Unemployment rates passed 25%, prices and incomes fell 20–50%, but the debts remained at the same dollar amount. 9,000 banks failed during the decade of the 30s. By 1933, depositors saw $140 billion of their deposits disappear due to uninsured bank failures. In 1921 occurred the largest armed, organised uprising in American labour history: the Battle of Blair Mountain. Ten to fifteen thousand coal miners rebelled in West Virginia, assaulting mountain-top lines of trenches established by the coal companies and local sheriff's forces. Workers organised against their deteriorating conditions and socialists played a critical role. In 1934 the Minneapolis Teamsters Strike led by the Trotskyist Communist League of America, the West Coast waterfront strike led by the Communist Party USA, and the Toledo Auto-Lite strike led by the American Workers Party, played an important role in the formation of the Congress of Industrial Organizations (CIO) in the USA.