How the Stock Market Crashed

Many factors played a role in carry about the depression; however, the main cause for the Great Depression was the conspiracy of the greatly unequal distribution of wealth, avowing problem, industrial power houses and artless depression which ultimately lead to the infamous Stock foodstuff Crash of 1929. The roaring twenties was an era when our country prospered greatly. The speedy increase in industrialization was fueling growth in the economy, and technology improvements had the leading economists alive that the uprise would continue. During this boom period, wages increased along with consumer sp abolishing and behave prices began to rise as well. Billions of dollars were invested in the melodic line market as people began speculation on the rising stock prices and buying on margin. On Thursday, October 24, 1929, the bottom began to fall out. Prices dropped continually as more and more investors tried to sell their holdings. By the end of the day, the New York Stock Exchange had lost intravenous feeding trillion dollars, and it took the exchange clerks until five oclock in the morning the adjacent day to clear all the transactions (Hicks 9) Following Monday the fruition of what had happened began to sink in, and a full-blown panic set in.

Thousands of investors-- many of them unexceptional working people, not serious players -- were financially ruined. by the end of the year stock values had dropped by fifteen billion dollars (McElvaine 45). Many of the banks which had speculated heavily with their deposits were wiped out by the falling prices, and these bank failures sparked run on the banking system. Each failed bank, factory, business, and investor contributed to the downward spiral that would dishevel the world into the Great Depression (Hicks 22). During the roaring twenties which is commonly known as the Jazz Age, their was an obvious attitude that was for living for the moment. Americans in the Roaring Twenties turned inward, away form... If you want to exhaust a full essay, order it on our website: Orderessay

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