Essay on The Stock Market Crash Of 1929

2054 Words May 11th, 2015 9 Pages
The Stock Market Crash of 1929 is notoriously known as one of the darkest days in United States history (Rose, Pg. 64). For it marks the unofficial beginning of struggles for not only stockholders, but to the population of the U.S. as a whole. This time period, better known as the Great Depression, was not only felt by almost every adult resident in the United States, but also by people that had no clue what the stock market even was. Children, women and men alike all suffered from the finical impact of the event that occurred on that frightful day. But the money was not the only thing affected; the social structure of American leisure time, education, families and lifestyle was forever changed to the point of no return, at least for a long time. The thought of ten billion dollars vanishing does not sound like it could go anywhere productive or beneficial, which was exactly what happened on Tuesday the 29 of October, 1929 the day of the largest stock market crash in the U.S. known as “Black Tuesday” (Rose, Pg. 64). Millions of Americans could not believe the biblical proportions of this catastrophe for all of the money invested in stocks, was lost. Now this would not have been as detrimental if people had not bought most of their stocks on margin. Which is getting a loan from the bank and using the money to invest in stocks. Because not only was the money that many actually had gone, but now millions are in debt with no money at all to pay the banks back. As well as the…

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