Black Wednesday Analysis

Improved Essays
On October 29, 1929, known as the Black Tuesday, numerous American gathered in the Wall Street, feeling confident in the stock market, found out that there was a slump in stock price in horror. A severe economic depression explored in United States, which then spread across the world. America’s economy fell into the depths. Countless bankrupt firms, high unemployment, the decreasing personal income drove people despaired. At the critical moment, President Franklin D. Roosevelt inspired miserable Americans to get the courage to face the present hard situation by his optimistic, passionate and cheerful speech. When Roosevelt was a five-year-old boy, his father took him to visit President Grover Cleveland in the White House. "I have one wish …show more content…
As for the financial crisis, he insisted that it is those stubborn money changers who induced people to follow their wrong leadership. Also he realized that the change and development of idea was the key to rejuvenation. Regarding material wealth as the standard of success is a completely misunderstanding. He emphasized that the happiness of achievement was exactly the explanation of life wealth. More importantly, everyone should work now instead of whispering the cruelty of life. There was no unsolvable problem if the nation faced it together courageously. In order to solve the Great Depression, he announced some feasible policy that they would work on. It’s crucial to hold strict supervision of all banking and credits and investment, which was the experience that he learned from the harsh crisis. In the field of world policy, he pursued peace and was respect to a world of neighbors. As far as he was concern, America needed discipline to bind upon people, leading everyone to walk towards the same direction, facing difficulties bravely. He promised that he would not evade his duty and he had prepared well to lead the nation to a bright future. Everybody should hold the belief that they can overcome the challenges and America wouldn’t

Related Documents

  • Improved Essays

    After the Great War, the United States had an economic boom. Since people were earning more, many people began to invest their money in the stock market. Many Americans believed that the stock market would continue to grow and people invested beyond their means even though they didn’t have the money. Banks speculated using depositor funds which later turned out to be a huge problem (history channel video). On October 24, stock prices plummeted and people sold their stocks for any price they could get.…

    • 944 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    New Deal Dbq

    • 921 Words
    • 4 Pages

    All of these new deals were in great need by the American people during this period of time. It was up to the people to not only take advantage of the deals, but also be their brother’s keeper. Several different illustrations in the video from document 22.12 indicated that Roosevelt made way for the American people by introducing the new deals. One of the wealthy Banker who drove himself around. Telling him to hire someone to chauffer him around.…

    • 921 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    The picture of Fred Bell known as ‘Champagne Fred’, a one-time millionaire, selling apples at his stand on a busy street corner in San Francisco in March 1931 during the Great Depression, became a symbol of the stock market crash in 1929. (McLeod, 1969) Although the collapse of the stock market on October 24, 1929, known as the ‘Black Thursday’, signed in everyone’s mind the beginning of the Great Depression, actually it only precipitated it. A combination of conditions led the United States to the worst economic crisis in its history. During this traumatic period of despair, the Presidents Herbert Hoover and Franklin D. Roosevelt would answer this crisis with very antagonist approaches to bring the United States out of this economic catastrophe.…

    • 1247 Words
    • 5 Pages
    Great Essays
  • Superior Essays

    Black Tuesday

    • 1551 Words
    • 7 Pages

    The event known as “Black Tuesday”, was when the American stock market crashed and this lead to an hopeless downfall known as The Great Depression in the United States which started on October 1929. During this time the president was Herbert Hoover and he strongly believed that if people had patience and the ability to be independent that the results will end fine. The year, 1932 was remembered as the hardest year during The Great Depression because almost everyone was unemployed. Farms and Banks were two long term causes of The Great Depression. To start off with farms, many farmers were having a hard time before the Depression.…

    • 1551 Words
    • 7 Pages
    Superior Essays
  • Improved Essays

    That said Roosevelt was a great communicator. He promised more than hope. As he entered his first term, the country was experiencing the Great Depression and the people were still feeling the effects of WWI. The county was in disarray and in fear of their future. Roosevelt promised leadership.…

    • 1055 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    New Deal Dbq Essay

    • 1143 Words
    • 5 Pages

    In 1929, the notorious Black Thursday triggered the Great Depression, which was an economic downturn in the US during the 20th century. Two long-term causes of the depression were the Dust Bowl that led to agricultural downfall and the decline of consumerism that led to the crash of companies and employment. In 1928, Hoover was elected. However, when the depression started, Hoover did not bolster his failing nation because of his own beliefs, which were rugged individualism which is how citizens should be independent of government handouts, voluntary cooperation in which workers and managers will voluntarily work together, and the cycling of ups and downs of economy which is how when the economy goes down it will go back up. The depression…

    • 1143 Words
    • 5 Pages
    Improved Essays
  • Superior Essays

    The Great Depression, spanning from 1929-1939, was a period of great turmoil in the United States. A depression is a sustained, long term period in which the economy is failing. The Great Depression was caused by the collapse of the Stock Market and the failure of the Banks. The reason why the crash of the Stock Market was so impactful to our economy was because of the speculative nature of the Market. Many people bought stocks on margin, which meant that they only paid 10% for the stock while loaning the rest from the bank.…

    • 1192 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Roaring Twenties Dbq

    • 1079 Words
    • 5 Pages

    It has been argued that the stock market crash of 1929 was the worst financial crises that the United States has ever seen. Prior to the crash during the 1920s society as a whole was experiencing some of the most prosperous times that had ever been seen throughout the history of the United States. The era definitely earned its nickname the Roaring Twenties. Throughout these well-to-do times, there was a wealth of money, optimism, and excitement. However, all good things must come to an end.…

    • 1079 Words
    • 5 Pages
    Improved Essays
  • Great Essays

    Great Depression Suicide

    • 1427 Words
    • 6 Pages

    Jumping off buildings, falling to your death, because you think your life is over from the collapse of the stock market. This is what the Great Depression is widely recognized for: crashing stock market, thousands of suicides and how quickly poverty spread across the nation. On October 29, 1929, which is commonly known as the black Tuesday, 40 percent of paper values decreased dramatically (Nelson). The period that followed from 1929 to 1945 was known as the Great Depression. Millions of Americans lost their jobs and money when the stock market crashed.…

    • 1427 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    New Deal Dbq

    • 1023 Words
    • 5 Pages

    The United states financial system was in ruins after the stock market crashed. The complete crash of the stock market occurred “On October 24th, 1929 when about 13 million shares of stock were sold. “The damage was extended on Tuesday, October 29 when more than 16 million shares were sold making the day forever known as Black Tuesday.” (John Hardman). Banks were failing, the nation’s money supply was dwindling, and companies were going bankrupt.…

    • 1023 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    "The Financial house of cards collapses, a financial panic grips the world. Practically overnight an economic blizzard swept the world. It is always the unemployed, the soup kitchens, the grinding poverty, and the despair” (Unidentified Man). This quote perfectly explains the hardships America had to trouble through during the 1920s. America was hit with it’s worst economy ever known to United States history.…

    • 1194 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    American Theatre Dangerous

    • 1480 Words
    • 6 Pages

    “The Theatre, When it is Good, Is Always Dangerous” It was a Tuesday that sparked a great change in the contemporary America as it was known. It was the same Tuesday, that, years later through a string of events, would lead to daring political theatre engendered and made possible by the American government. This Tuesday would echo across the nation in innumerable aspects, but certainly made a great catalyst for new ideas in the creative world. Tuesday, October 29th, 1929, the American Stock market crashed, marking the beginning of the great depression.…

    • 1480 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    During the 1920’s America had experienced an economic growth in which not only did it made the Nation rich but the people were able to obtain more luxuries such as cars, jewelry, events, and even afford buying a house. By the time it had become popular for people to possess items of high value and even value them more than anything. The time during this period was suitable; People were earning more money and consuming more, which also meant that people were investing great amounts of money into stocks, but on October 29, 1929 the stock market took a downturn in which eventually led to the events of the Great Depression. As the stock market crash not it only did it affect millions of Americans, it affected the economy as well. This tragedy is historically known as “The Stock Market Crash of 1929,” were it focuses on the events that led to the stock market’s collapse and its aftermath, The Great Depression.…

    • 1304 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    The Great Depression was a dreary time in American History and took a toll on much of the nation in a negative way. Black Thursday was the beginning of the depression, and it was on this day that “investors were made nervous by the rising interest rates, and suddenly sold their shares. This jolted investor confidence, and caused…

    • 1060 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    October 24th, 1929, an alarming day that should’ve warned Americans about the tragic event that was about to happen, became known as Black Thursday, the foreshadowing to the Great Depression that changed Americans lives forever. This is when Franklin Delano Roosevelt made his political debut as President by creating several programs that collectively became known as the New Deal. FDR’s New Deal gave Americans a fresh start and better lives during the Great Depression. Black Thursday refers to the day in which Americans were frightened due to the stock market decreasing a little bit.…

    • 1201 Words
    • 5 Pages
    Improved Essays