The Stock Market Crash Of 1929

The Stock Market Crash of 1929 The Stock Market was the most important event in the 1900s starting the beginning of the Great Depression. It all began after the end of World War I, changing the social and political lives of people. On September 3, 1929, the Stock Market peaked only to fall a month later (The Stock Market). The Stock Market started to fall for a month and on October 29, 1929, the stocks fell an entire 13 percent and more as days went on (Lange). The United States lost twenty five billion dollars, almost the same as three hundred billion dollars in today’s money (The Stock Market). This event left people without money, food, or shelter. After the World War I, the production and industry increased. The assembly line, machinery, new technology, refrigerators, and washing machines became possible (The Stock Market). Many people were buying stocks between 1920 and 1929 (Lange). The Federal Reserve raised the interest rates to discourage people from buying more stocks (The Stock Market). Although the richer became richer, the eighty percent still lived pay check to pay check to support their entire family. Nearly five thousand farmers sold their farms due to the farm production dropping 10 percent (Henry 8). All of these things caused the start of the devastating Stock Market crash. After weeks
The Great Depression (1929-1941) was started by this event, leaving families with no money or food to live (Henry 8). The people involved were left unemployed, no food, and sleeping on the streets. It took an entire generation to get the Stock Market back on its feet. When Franklin D. Roosevelt became elected in 1932, he promised America the New Deal and the Federal Deposit Insurance Company to create jobs and fix the banking situation (The Stock Market). Until 1941, the end of the Great Depression, this country had not regained its strength from this devastating occurrence