October 24, 1929, a day known as “Black Thursday” was the start of what will be the greatest economic downfall in US history. This catastrophic event that occurred was the crash of the stock market. It all started in the “Roaring Twenties” when the stock market was at its greatest. The nation’s total wealth had doubled from 1920 to 1929. Many people from wealthy business men to the lower-class janitors had put their life savings into stocks. As fear rose, people began rushing to banks to get their money, to face one huge obstacle: the banks did not have any money to give them. This calamitous event started the ear know as the great depression. This decade long event lead to American lives full of hardship and struggle.
President Herbert Hoover
President Herbert Hoover