October of 1929 created many problems for Americans. Stock markets fell so quickly that America did not have time to prepare for it. By October 24th, 2.9 million shares were sold in fear of a complete crash in the market (McDonnell 413). Media is calling this day “Black Thursday” because of how much failure it has brought (McDonnell 414). By the time December came, the value of stocks dropped a dramatic $26 billion (McDonnell 414). All banks in America failed due to citizens demanding their money. There were so many credit issues that everyone who bought anything with their “borrowed money” immediately fell into debt. Banks ran out of money completely because of these problems. There was no money to give to the people who deserved their
