Stock market crash in 1929 facts

Stock market crash in 1929 facts

Posted: Redactor On: 25.06.2017

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The Stock Market Crash of 1929 - Causes and Effects

The Wall Street Crash and Depression. In the new Republican president Herbert Hoover confidently stated, 'We in America today are nearer to the final triumph over poverty than ever before in the history of any land.

When the Wall Street stock market crashed in October , the world economy was plunged into the Great Depression. By the winter of , America was in the depths of the greatest economic depression [ Economic depression: The slowing of economic activity, which usually results in high unemployment, a sharp drop in prices and a fall in production.

The number of unemployed people reached upwards of 13 million. Many people lived in primitive conditions close to famine. One New York family moved into a cave in Central Park.

BBC - GCSE Bitesize: Wall Street Crash

In St Louis, more than 1, people lived in shacks made from scrap metal and boxes. There were many similar Hoovervilles all over America. Between 1 and 2 million people travelled the country desperately looking for work.

stock market crash in 1929 facts

Signs saying 'No Men Wanted' were displayed all over the country. Many children were deserted and left homeless during the Depression.

By the time of the election in November , Hoover's popularity had reached rock bottom.

It was not even safe for him to go onto the streets to campaign. After his heavy defeat, Hoover told his friends, "we are at the end of our string The American economy did not fully recover until the USA entered the Second World War in December You're using the Internet Explorer 6 browser to view the BBC website.

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Stock Market Crash of Facts, Causes, Effects

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stock market crash in 1929 facts

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Stock Market Crash of Facts, Causes, Effects

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stock market crash in 1929 facts

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