Grant

In this wikipage I will be exploring what America experienced on Black Tuesday. Black Tuesday was the offical start to the tragic Great Depression. The Great Depression was a long and severe time of economic despair for people in the United States of America. There is a great deal of information written about the most dark economic time in America. I think it is time to get started.

Black Tuesday was the start date of the Great Depression. It came as a shock to most people because it was preceeded by the Roaring 20's. During the Roaring 20's everyone had jobs and lots of cash. The opposite is true of people in the Great Depression where everyone lost their jobs and had no money to buy food or to pay rent. In the times leading up to the Stock Market Crash, the Dow Jones was at an all time high. Everyone thought that it had plateued at an all time high and would stay that way. In the days prior to the stock market big crash, the market was very unstable. The first shock was felt on Black Thursday where the Dow Jones went down 11% at the start of the trading day. Large numbers of people traded their stocks that day. The bankers were determined to find a cause for it. Over the weekend people were talking about it and it was all over newspapers. The following Monday the stock market was worse with the dow losing another 13% of its value. People panicked and wanted to get their money out of the markets quickly. Black Tuesday was the biggest shock day with 16,000,000 shares traded which is equivalent to another 12% loss. President Hoover vetoed a law which caused the stock market to continue to crash. A combined a total of $30,000,000,000 shares were lost on Black Monday and Tuesday. The market continued to crash this way until November 13. The American people were stuck in the Great Depression for a total of 10 years. People lost everything they owned, had no money, and many committed suicide. Prices of food and goods were so high or inflated that people could not afford basic houses and food. to live.They did not get back to roaring 20's status until 1954. Many banks were closed during this tragic time. People were trying to get their money out of the banks but many people lost all their money they invested in the bank for savings. Years later after the Great Depression ended it was known as the worst economic depression world wide in the 20th century. Everyone hopes that this will never happen again in history but nobody can tell. Recently in the last two years, we have again experienced bank failures, deep downward shocks in the stock market and great number of home foreclosures. In my opinion, the cause of the Great Depression was the economic policies of President Herbert Hoover. He was president during these awful days in US History. People were moving into poor towns named Hooverville, named after President Herbert Hoover. Black Thursday was October 24, 1929, Black Monday was on October 28, 1929, and Black Tuesday was on October 29, 1929.


One can see this one big economic depression was one of the biggest in world history. Everyone suffered during this time in American History. Many went banckrupt and were forced to live in Hoovervilles. After reading this info about the most tragic time in US History you will see that in the Great Depression many died, many lost a lot of money, and many were upset about everything that was happening. I hope we will never experience this again. Black Tuseday was the worst day in US History possibly. Thank you for reading Grant Jackson berry's Wikipage! I hope you learned a lot about one of the worst times in history.









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