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The Great CRASH. And its Effects 1929 - 1933. President Hoover’s Inauguration. March 4, 1929 President Hoover took office “I have no fears for the future of our country – it is bright with hope”. 1920s Stock Market. What were the characteristics of the stock market in 1920s?. - PowerPoint PPT Presentation
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The Great CRASH
And its Effects1929 - 1933
President Hoover’s Inauguration
March 4, 1929 PresidentHoover took office
“I have no fears for the future of our country – it is bright with hope”
1920s Stock MarketWhat were the characteristics of the
stock market in 1920s?
1929 Stock Market
• Beginning of September: started to drop
• October: downward trends
• October 22: “I know of nothing fundamentally wrong with the stock market or with the underlying business and credit structure.” – leading bank president speaking with reporters
1929 Stock Market
• After October 22: – Stock values declined– Brokers started to unload stocks– Leading bankers formed a pool to buy stocks to
halt slide– Prices steadied for a few days– Then stockholders began to unload – October 29: single most devastating day
Impact: Stock Market Investors
How did the Crash impact the rest of the population?
4 major circumstances occurred:
• Failure of U.S. Banking System
• Mass Unemployment
• Mass Homelessness
• Mass Hunger
Failure of Banking System
Mass Unemployment
Mass Homelessness
Mass Hunger
Did the Crash cause the Great Depression?
