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Black Thursday
Beginning of essay
Thursday, October 24, 1929, has the dubious honor of being called because it was on this day that the New York Stock Exchange crashed. This event heralded the end of the "Roaring Twenties". In the 1920’s, spirits were high in the United States and around the world. The rapid increase in industri ....
Middle of essay
.... following Monday, once the realization of what had happened set in, a full-blown panic unsued. Thousands of investors, many of whom were ordinary working people with no prior stock experience, were financially ruined. By the end of the year, stock values had dropped by fifteen billion dollars.
Many of the banks that had speculated heavily with their deposits were wiped out by the falling prices, and these bank failures sparked a "run" on the banking system. Each failed bank, factory, busines.... |
| Number of words: 364 |
Approximate pages: 2 |
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