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Facts Behind The Great Depress
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Although the Prohibition controversy was absorbing, public interest in the first year of the Hoover administration became diverted by an event that shook the very economic foundations of the nation, namely, the stock market panic of 1929. The United States had enjoyed a boom after World War I, in which wages were high and production and consumptio ....
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....ly meant complete financial ruin. On October 29 the New York Stock Exchange, the largest in the world, had its worst day of panic selling. By the end of the year declines in stock values reached $15 billion.
The Great Depression
The stock market panic preceded an economic depression that not only spread over the United States but in the early 1930.... |
| Word count: 585 |
Page count: 3 |
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