Essay On The Wall Street Crash Of 1929

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The Wall Street crash of 1929
Introduction
In late October 1929, years of great prosperity ended in a sudden halt and resulted in a great catastrophe. The Wall Street crash of 1929, also known as “The great crash” of “Black Tuesday”, was the biggest stock market crash since the beginning of stock records.

Many speculators lost a lot of money on big investments, banks also began to decline, and this later was followed by a depression across the world that lasted for about a decade and which inevitably caused a world war.

USA in the 1920’
To figure out why the stock market crashed, we will have to look back at the recent events in the USA. In 1919 USA’s confidence started growing. They had just won World War 1 and therefore the citizens were
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Unluckily for him and the whole nation, he wasn’t heard. Even 60 new companies had been listed on the stock exchange between March and September of 1929; these new companies added over 10 million shares to the stock exchange.

President Hoover frequently asked his friends if he should be concerned about the stock market. He even received a memo from Thomas Lamont saying that there wasn’t any reason to be concerned and he even ended the memo with “The future appears brilliant”.

5 days later, Wednesday 23 of October 1929, the market crashed. It is unknown what was the cause of the sudden drop of automobile stocks. These drops of course led to wild and unstoppable last minute trades and millions of shares were sold. The next day “The Great Crash” began.

The Crash
Thursday 24 of October 1929, also known, as “Black Thursday” was a chaotic day. All stocks were dropping and this scared a lot of people. People started to gather outside of Wall Street in panic and disbelief. They all wanted some news. The government was afraid that the crowds that were gathering outside of the stock exchange were going to storm in; therefore they sent 400 mounted troops to the
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