the stock market crash. on tuesday, oct. 29, 1929 the stock market crashes ending the prosperity of...
TRANSCRIPT
The Stock Market Crash
On Tuesday, Oct. 29, 1929 the Stock Market Crashes ending the prosperity
of the 1920’s.
Black Tuesday
Depression in Action• 26,355 businesses failed
in 1930• Very high
unemployment– 1930• 4 million people out
of work– 1932 • 12 million people out
of work.
4
12
0
2
4
6
8
10
12
1930 1932
unemployed
What Caused the Crash?
• Economic– Charts page 730
• Buying on margin– Small down payment– Borrowed the rest
• Speculation– Buying and selling stocks
to make a quick profit– Land in Florida
Hoover’s Response• Thought government
interference would hurt the economy more
• “rugged individualism”• Hoover blamed– Hoover flags– Hoovervilles– Hoover blankets
• Public Works Projects– Money to states, cities
and towns for building public resources
• Bonus Army– 1932– WWI veterans– Due in 1940s– General MacArthur
• Tear gas, bayonets, tanks and grenades
• Burned camps
• Public saw as negative• Influenced 1932
election
What Caused the Crash?
• Natural– Overgrazing– Over plowing– Loss of grasses– Drought
• Early 1930s
– Dust Bowl• Kansas, Oklahoma, Texas,
Colorado and New Mexico
• Results– Farmers lost land and
moved west