Black Tuesday Dbq

News Media” by Louis Liebovich. Although, the Stock Market Crash happened on October 29th, 1929, there were prior factors causing the crash. The crash happened only 7 months into Hoover’s presidency according to “History.com.” During the start of the Great Depression, millions of Americans were unemployed and could not provide to their families. Hoover also directed all Federal Departments to speed up public works and other projects, in order to create more jobs. This had little effect to the economic crisis. After the collapse of the European economy, Hoover temporarily suspended of all international debt payments. This saved banks from a complete collapse. This was one of Hoover’s attempts to fix the crisis,

This only deteriorated as businesses would suffer financially and unemployment was at an all the time high. Although President Franklin D. Roosevelt came up with tactics and strategies to lessen the effects of the damage done, the economy wouldn’t fully overcome until after 1939 as World War II shifted America. For a little over a decade, businesses would go through financial turmoil and people would have to find other ways to bring in revenue. During the late summer of the 1929, the American economy entered into a recession. According to the Merriam-Webster Dictionary, a recession is defined as a period of reduced economic activity. Investors had traded some 16 million shares on the New York Stock Exchange in a single day. That day in history was formally known as “Black Tuesday”. Those same shares had ended up being worthless with no monetary value. The investors who bought them with borrowed money, suffered an excessive lost. Consumer reliability was gone as spending was nonexistent which resulted in factories being closed down. The lack of consumerism also impacted those who had invested in mass production. The consumers who still felt a need to spend, were forced to use credit cards and evidently fell into major debt; foreclosures on homes and repossessions climbed rapidly as people tried their best to live again and have that

The stock market crash, called Black Tuesday. Unequal distribution of wealth was a key factor during the time period as well. The day know as “Black Tuesday” was the day the stock market crashed. This led to the fall of stock prices, in fear, people sold their stocks and gathered the money they could. The people who didn’t, lost all of their stocks. Those who bought them on credit, they were now in debt. Investors lost a collective amount equal to the amount spent in WWI, that’s billions of dollars gone, approximately thirty-two billion dollars (32,000,000,000). As bad as the crash was, unequal distribution of wealth did not help. The rich saw an income increase of 70%, and the poor saw an increase of 9%. More than 70% of families earned less than $2500/year. Many of these families couldn't afford household products, such as the flood of overproduced goods. Only one out of ten families owned an electric refrigerator. One thing many people overlook when on the subject of the Great Depression is the president's influence on the situation. The two presidents during this time were Herbet Hoover and Franklin D. Roosevelt. Hoover was in office during the collapse of the economy, he didn’t believe in national relief, he believed in self-prevalence and self-help. His beliefs didn’t get the confidence of the people, in 1933, a fourth of working American’s were out of a job, that’s more than fifteen million people unemployed. Many people disliked Hoover, so when they needed to make a home out of paper, glass, tin, or whatever they could find, they named the towns constructed from these items “Hoovervilles”. They were found mostly on the outside of cities. Hoover's idea of self-reliance didn’t get him reelected, he lost to Franklin D. Roosevelt in 1933. Roosevelt brought forward a new strategy to take on the economic problems, it was called the New Deal. The New Deal was a series of actions him and his

The Great Crash also known as Stock market crash of 1929, happened in 1929 which was one of the biggest and important history of America. During this time in late October the stock market of the country crashed which lead to the beginning of great depression, and it has lasted for 10 years. Many countries got affected due to the great crash, especially all Western industrialized countries. “Black Tuesday (October 29), in which stock prices collapsed completely and 16,410,030 shares were traded on the New York Stock Exchange in a single day.” (“Stock”). After the crash, the country had tried to cope up from the loss, but it still continued to drop. “By 1932 stocks were worth only about 20 percent of their value in the summer of 1929. (“Stock”). Due to this depression, nearly half of the banks failed, businessman faced bankrupts and people have lost their

Many americans were affected by the crash because they depended on the stock market. The banks suddenly started to fail also, after the stock market crashed. Some banks started to shut down. The industrial production dropped by half. The farmers could not sell any crops because the prices had to increase. In 1930, the first banking panics began. President Hoover wanted support the falling industry and banks. He tried hard to make loans and help the country. The crash of the stock market was only the beginning of the great depression. Banks were forced to closed, causing clients to lose money and income, making them have a hard time. They had to figure out how to keep up with their incomes and wages. How to help out their family. They lost their jobs and that made it difficult for them to pay their needs. While the jobs became more scarce, unemployment was abundant. The great depression also cause other types of people to become unemployed.

Document two explains what happened when the banks went out of business. Black Tuesday was in October 29, 1929 and it was the day that the stock market crashed most deeply. This hinted to the start of the Great Depression. The stock market crashed because people did not have enough money to pay back the people who they borrowed money from. Due to this process the market started to fall. With prices falling, brokers asked investors to pay back what they owed. Investors then sold their stock to repay their loans. A panic quickly set in. Between October 24 and October 29, desperate people tried to unload millions of shares. As a result, stock prices dropped even further. Banks were also running out of

Many believed that Black tuesday began the Great Depression, on October 29, 1929 a group on panicked sellers traded nearly 16 million shares on the New York Stock Exchange causing the Dow Jones Industrial Average to fall. Others believe it was the stock market crash in 1929, or that Black tuesday was just the begining triggering the stock market to crash causing the Great Depression. As soon as president Franklin D. Roosevelt came into office he began searching for ways to better American life as quickly as possible. He proposed a series of programs through The New Deal, these programs created jobs for many unemployed men, while others offered aid, created the FDA so people know whats in the products they're purchasing, and banking acts to

The stock market crashed on Thursday, October 24, 1929, less than eight months into Herbert Hoover’s presidency. Most experts, including Hoover, thought the crash was part of a passing recession. By July 1931, when the President wrote this letter to a friend, Governor Louis Emmerson of Illinois, it had become clear that excessive speculation and a worldwide economic slowdown

Money markets slammed on October 1929 and this is what caused the Great Depression to happen. For a length of time the country was at the point where signs of troublesome were shown such as joblessness; which turned out to be a gigantic issue for the Americans as well as for different nations. “By 1933, unemployment was at twenty-five percent” (FDR). Never had the highs been higher and lows been lower for the economy. With cash going away individuals started to live in hardships with no real way to earn money. Hoover being president at the time, had great hopes for the economy of America, once this catastrophe hit he was not necessarily blamed for the troubles happening. The nation reacted to The Great Depression in many ways. People were let down by President Hoover which effected the economy, children began to impact society, and families fell apart. Some people turned to music, while others turned to violence.

The Great Depression was a time of great economic tragedy during the 1930’s. October 24, 1929 was the day of the stock market crash, causing economical shortage everywhere, even globally, and this scared everyone, including the rich. This day was/ is known as “Black Thursday”, where over 2.9 million shares were traded. On “Black Tuesday”, five days later, more than 16 million more shares were traded in another wave of panic. Many investors then lost confidence in their banks and demanded deposits in cash which forced the banks to liquidate loans in order to supplement their on hand cash reserves. By 1933, around 15 million Americans were unemployed and nearly half of the country’s banks had failed. This stopped Americans from purchasing which then led to less production of goods and decreased the amount of needed human labor. In the end, millions of shares ended up worthless, and those investors who had bought stocks with borrowed money were wiped out completely.

29, 1929 the stock market crashed when panicked investors tried to sell all their shares at once. Now known as Black Tuesday, the crash marks the start of the Great Depression, one of the longest and most catastrophic economic downturns in the world. The depression caused by the crash affected Canada greatly, as businesses closed and unemployment rates went up. Prairie farmers were hit the hardest, having to move into cities after wheat prices dropped and the drought completely turned the soil into

After the 1920’s it seemed as if America was on cloud nine, when really a catastrophe was about to happen that they didn’t even think would come. The Stock Market crashed on October 29, 1929 a day also known as Black Tuesday. President Hoover at the time believed that the Laissez Faire policy was the right choice meaning that he thought that the market would get back together or fix itself without the government intervening.

Tuesday, October 29, 1929 – otherwise known as Black Tuesday, is the day of the stock market crash. This crash caused a sudden and drastic change in the economy while also starting The Great Depression which lasted from1929--1940. Because of The Great Depression, President Hoover was disliked across the country, so when the people were electing a new President they choose Franklin Roosevelt. The new President was exceptionally eager to put in new laws and programs into effect to pull the country out of the depression. Although Franklin Roosevelt's policies gave the public relief, his New Deal only helped the public in a purely phycological way. Not only did the New Deal worsen the economy, it also was hastily put together, and it effected people fleeing the Dust Bowl for "better jobs" in California.

People began buying things such as cars and appliances on credit. Many people earned less money than needed to live a comfortable lifestyle. Businesses were letting people with lower incomes buy things on credit. Unfortunately the stocks rose faster than the value of the companies they represented. When the stock market collapsed, these people did not have the money to pay back what they owed. This resulted in financial ruin. Before the stock market crash investors traded about sixteen million shares on the New York stock exchange each day. After "Black Tuesday", billions of dollars were lost wiping out thousands of investors. Had most of those investors sold their stock the day before the crash, they would have received a large profit. The 1929 crash uncovered another problem in the United States. The nations banking system was in trouble. In the 1920's thousands of new banks were opened, however, most lacked adequate money in reserves. Between 1923 and 1929, banks across the country failed daily, but the general rising prosperity hid these failures. The crash made a bad situation even worse, and banks failed at a more rapid rate.

In the late October of 1929, the United States Stock Market took an immense plummet. This plummet acted as a catalyst to the beginning of the 10 year long Great Depression. It was known as Black Tuesday, aka the Wall Street Crash of 1929. (Harold)