Stock+Market+Crash

=Winter Chernak= =What is the Stock Market Crash of 1929?= The Stock Market Crash of 1929 was the day when the stock market crashed completely, leaving millions of people unemployed, poor, and without hope. This day marks history as being "Black Tuesday", when nothing could go right. Americans were franticly running around New York, hoping for a miracle, and all over the topic of money and ownership of companies. I will be explaining in depth what caused this to happen, what effect it had on America, who was involved in it, and who took action after it occured. First I will explain some of the terminology that is used when talking about stocks and the crash:
 * Stocks: A "piece" of a company that can be bought and sold. When you own a stock, you own a portion of the company, and receive some of the company's income.
 * Bonds: When investors borrow money from the public, invest it into a company or to the government, and the company (or the government) pays them interest until the bond is due and the debt must be payed.
 * Stock Exchange: A marketplace to buy and sell stocks. There are informal stock exchanges, such as trading on the streets, but the formal exchanges are for members only. Stock Exchanges try to stay "free" or "open", so that one individual or group doesn't dominate the trade.
 * Bulls: People that believe stocks will rise and continue to invest their money in them.
 * Bears: People that suspect the fall of stocks and refuse to buy them.
 * The Dow Jones Industrial Average: This is a chart that shows over 30 companies, the rise and fall of their business, and the current standings of the stock market. This was what people trusted during this period to tell them whether to buy or sell a certain stock.

=What was the Cause of the Crash?=

Value of stocks decreases People rush to sell their shares The more stocks sold... the less they are worth =People panic! =

Timeline of Events: A Week in October 1. The "Roaring 20's" 2. October 24th- Black Thursday gained in the whole year
 * Jazz Music
 * Invention of the radio and automobiles
 * Prohibition: no alcohol
 * nativism: aggression towards foreigners
 * word spreads of failing stocks
 * millions of frantic people gather in front of the New York Stock Exchange Building
 * people begin to lose hope
 * 3. October 29th- Black Tuesday
 * The money lost on this day exceeded the amount
 * 10 billion= value of 100 billion today[[image:rowellsapushistory:government-control-stock-market-crash-1.jpg width="388" height="311" align="right"]]

 Significant People of the Time: 1. Franklin Roosevelt 2. Herbert Hoover 3. Winston Churchill 4. Michael J. Meehan 5. John D. Rockefeller

==="I expected to see pandemonium; but the spectacle that met my eyes was one of surprising calm and orderliness. Exchange members were walking to and fro like a slow-motion picture of a disturbed antheap, offering each other enormous blocks of securities at a third of their old prices and half of their present value, and for many minutes together finding no one strong enough to pick up the sure fortunes they were compelled to offer."-Winston Churchill, on his visit to NYC on "Black Tuesday." ===

Michael J. Meehan

 * started selling stocks informally on the street corners
 * worked at the New York Stock Exchange building
 * famous for negotiating prices to satisfy all customers
 * founded Meehan & Co.: a firm that buys and sells stocks[[image:53366936.jpg width="413" height="298" align="right"]]



=Franklin D. Roosevelt=


 * elected 1932
 * cared for specific needs of the country and its individuals
 * president for 12 years; died at the end of WWII

Reconstructing the Country: Farming
Roosevelt created the Civilian Conservation Corps, which was people that work the land for money. This gave jobs to the unemployed and fixed the land. He also created the Agriculture Administration Act, to help the farmers of the country. Franklin also worked a lot on helping the banks that struggled during the Depression and the Crash. He made the Emergency Banking Act, which allowed banks to reopen for business. He also created the Federal Deposit Insurance Corporation. His goal in making these acts was to let people trust the banks more by putting insurance on whatever money was put into them.
 * Reconstructing the Country: Banks**

The Stock Market Crash and the Depression left many without jobs, which stopped the flow of money even more, so Roosevelt focused on fixing this through the National Industrial Recovery Act, the Civil Works Administration, the Public Works Administration, and the Works Progress Administration. People have called these acts the "most important and far-reaching legislation ever inacted by the American Congress," and Roosevelt modestly states that his only goal was to "put people back to work."
 * Reconstructing the Country: Unemployment**


 * Overall, the Stock Market Crash changed the lifestyles of many, harming most of them. It changed how people spent their money, and where they placed their trust. Many people, like Roosevelt and Rockefeller, tried their hardest to help the country, but this change was inevitable. It resulted in the Great Depression, a struggle that the country took years to get itself out of, but it also acted as a learning experience for Americans and for our modern citizens.**