The Great Depression And The Stock Market Crash Of 1929
In 1929 the stock market crash. The stock market crash had a great impact in the economic. In this time blacks didn’t have as many freedoms. The whites were more powerful and had a better chance to get a job. Yet most of them were still poor. When the great depression happen the history website says “13 to 15 million americans were unemployed and nearly half of the country’s banks had failed.” The african americans were hit the worse. In the north blacks were fired to give jobs to the whites. U.S history say that “millions of families lost their savings as numerous of banks collapsed.” When the stock market crashed was on october 29, 1929 black tuesday. Investors trade 15 millions shares in a single day.
Billions of dollars were lost in a single day. Half of the U.S banks had failed and unemployment was rising quickly. The economy were impacted bad, they couldn’t get their saving out of the bank. Then this leaded to people losing their jobs because they couldn’t get pay. Tejvan Pettinger says “They paid 10% or 20% to get shares they got 80 or 90 percent of the shares.” They were a rapid growth in the bank credit and loans in the U.S. This affected the black culture the worse. One of the key factors was the racism. They were more racism in the south. The whites killed black employees so jobs could open up for the whites. The black culture was also paid less than the whites and they were hired last. Olivia from Atlanta black star says that “Blacks faced unemployment of 50 percent or more, compared with about 30 percent for whites.” Women were forced to go to the slave market. The slave market was when black women congregated to wait for white housewives. The white housewives went daily to get their daily pick and bid wages down. When franklin roosevelt passed the new deal. It didn’t really help the black culture as much as it did with the whites. It didn’t improve the living conditions or didn’t even give housing to the black culture. Olivia from Atlanta black star says “many Black people were homeless or forced to scramble for housing that was either temporary or gravely filthy.” This means that the deal turned down blacks.
Billions of dollars were lost in a single day. Half of the U.S banks had failed and unemployment was rising quickly. The economy were impacted bad, they couldn’t get their saving out of the bank. Then this leaded to people losing their jobs because they couldn’t get pay. Tejvan Pettinger says “They paid 10% or 20% to get shares they got 80 or 90 percent of the shares.” They were a rapid growth in the bank credit and loans in the U.S. This affected the black culture the worse. One of the key factors was the racism. They were more racism in the south. The whites killed black employees so jobs could open up for the whites. The black culture was also paid less than the whites and they were hired last. Olivia from Atlanta black star says that “Blacks faced unemployment of 50 percent or more, compared with about 30 percent for whites.” Women were forced to go to the slave market. The slave market was when black women congregated to wait for white housewives. The white housewives went daily to get their daily pick and bid wages down. When franklin roosevelt passed the new deal. It didn’t really help the black culture as much as it did with the whites. It didn’t improve the living conditions or didn’t even give housing to the black culture. Olivia from Atlanta black star says “many Black people were homeless or forced to scramble for housing that was either temporary or gravely filthy.” This means that the deal turned down blacks.