The Great Depression

commodious mental picture Everyone knows of the Great Depression and of all the lives it ruined, that what not perpetuallyyone knows, is how the Great Depression really started. There were passel of factors prima(p) up to the Great Depression, but there are hitherto a few that stand out as the primary(prenominal) causes. mayhap the most popular and renowned reason that caused the Great Depression was the commonplace market crash in 1929. other noteworthy cause was the bank failures in the 1930s crosswise the country. croak but no least, purchasing luxuries or items that were not necessities at the time diminished. October 24, 1929 was a Thurs solar day many remembered to be the day that things started going shinehill for the economy. On this day, stock prices started to carp at promptly and many stock holders began to care their stocks. Crowds started to gather on environ Street and rumors were being spread of stock holders committing suicide. This brought a st udy panic to the people standing on Wall Street, as well as the rest of the people who invested in shares of stock. 12.9 one thousand thousand shares were sold on this coloured Thursday, which was over twice as much as the previous record. Four days later, Black Tuesday struck on October 29, 1929, and was dubbed the worst day in stock market history.

On this day, stocks were depreciating faster than ever and everyone precious out. So many people were trying to sell their shares that the middle lagged two and a half hours behind. People went into a big panic trying to sell their shares before they whittled down to nothing, and they could nt. goose egg could get rid of their stocks! fast enough to lighten their gold and 16.4 million shares ended up being sold. These tragic 5 days depleted most of the countrys currency and that is why it was one of the chief(prenominal) causes of the Great Depression. other main cause of the Great Depression was the mass of get along of bank failures in the US. Of over 25,000 banks in 1929, more than 10,000 banks failed and went forefather by 1933, but along...If you want to get a practiced essay, order it on our website: BestEssayCheap.com

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