Essay on Stock Market Crash Of 1929

1027 Words Nov 10th, 2016 5 Pages
Stock Market Crash of 1929 The roaring twenties may have been the most celebrated decade in the United States history. However, on October 24, 1929, the party came to an abrupt end when the Stock Market Crashed. Children roamed the streets scavenging for food to survive. Adults filled the lobbies of banks demanding withdrawal of their money. Many people were attempting to sell their prized possessions to gain a little extra cash to provide for their families. People lost their homes and lived in cardboard boxes, or with the animals on the streets. Miserable, needy, desperate people wandered Wall Street, hoping to live another day without dying of starvation or disease due to these abominable conditions. The Stock Market Crash greatly impacted the living conditions of many Americans of this time. Historians have determined that the mismatch of consumption and production, the spread of unemployment, and an increase of loans caused the Stock Market Crash of 1929. Mismatch of supply and demand was a leading cause to the economic downfall that resulted in the Stock Market Crash. Frederick Allen indicates that the stock market devastation was a result of “‘economic diseases from which business was suffering.’[such as the] overproduction of capital and goods”(Klein 341). Investments made to manufacture consumer products were not earned back as income by selling or distributing those goods because so few American households had any available finances to purchase those goods.…

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