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The Stock Market Crash of 1929

Essential Questions:
• Why did the Stock Market Crash of 1929 occur?
1920s: An Era Ends
    Serious economic

    problems began to
    threaten prosperity

    Farmers grew more corps

    & raised more livestock
    that they could sell at a
    profit
        Consumers and farmers
    
        were going deeper into debt
        It signaled the end of an era
    


    Basic industries such as

    the railroads, textiles, and
    steel were barely making
    a profit
Agriculture
                  Agriculture suffered the most
              


                  During World War I prices rose
              
                  and international demand for
                  crops (such as wheat and corn)
                  soared
                      Farmers had planted more and
                  
                      taken out loans for land and
                      equipment

                  After the war demand fell and
              
                  crop prices declined

                  Many lost their farms when
              
                  backs foreclosed and seized
                  the property as payment for the
                  debt
Consumers and Farmers
    As farmers’ incomes fell they

    bought fewer goods and
    services

    They were buying less due to:

        Rising prices
    
        Stagnant wages
    
        Unbalanced distribution of
    
        income

    During the 1920s the rich got

    richer and the poor got poorer

    Between 1920 and 1929 the

    income of the wealthiest 1% of
    the population rose by 75%
        Compared with a 9% increase
    
        for Americans as a whole
Herbert Hoover
                     Hoover won in an
                 
                     overwhelming victory
                     against Democrat Alfred
                     E. Smith in the election of
                     1929

                     Hoover claimed in his
                 
                     campaign that America
                     was “nearer to the final
                     triumph over poverty than
                     ever before”

                     By 1929 most Americans
                 
                     still had a huge trust in the
                     nation’s economic health
The Stock Market
    The Dow Jones Industrial Average was

    the barometer of the stock market’s health
        Measure based on the stock prices of
    
        30 large firms trading on the NYSE


    Through the 1920s stock prices rose

    steadily
        By 1929 about 4 million Americans, or
    
        3% of the nation’s population, owned
        stock


    People began engaging in speculation


        They bought stocks and bonds on the
    
        chance of a quick profit, while ignoring
        the risks


    Many began buying on a margin


        Paying a small percent of a stock’s
    
        price as a down payment and
        borrowing the rest
The Crash
                On October 24th, 1929 the market
            
                took a plunge
                    Panicked investors unloaded their
                
                    shares of stocks

                Black Tuesday
            
                    October 29th, known as Black
                
                    Tuesday
                    Shareholders dumped 16.4 million
                
                    shares of stocks
                    People who had bought stocks on
                
                    credit were stuck with huge debts
                    Others lost most of their savings
                


                By November investors had lost
            
                about $30 billion dollars

                The Crash of the stock market
            
                singled the beginning of the Great
                Depression (1929-194)
Bank and Business Failures
    After the crash many people

    panicked and withdrew their
    money from banks

    Some couldn’t get their money

    because the banks had
    invested in the stock market

    By 1933 11,000 of the nations

    25,000 banks had failed
        Millions lost their savings
    


    Nearly 90,000 businesses went

    bankrupt

    Unemployment skyrocketed

Causes of the Great Depression
                       There is no one definitive
                   
                       cause of the Great
                       Depression

                       Most historians and
                   
                       economists cite:
                           Tariffs and war debt polices
                       
                           that cut down the foreign
                           market for American goods
                           A crisis in the farm sector
                       
                           The availability of easy
                       
                           credit
                           An unequal distribution of
                       
                           income

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The Stock Market Crash Of 1929

  • 1. The Stock Market Crash of 1929 Essential Questions: • Why did the Stock Market Crash of 1929 occur?
  • 2. 1920s: An Era Ends Serious economic  problems began to threaten prosperity Farmers grew more corps  & raised more livestock that they could sell at a profit Consumers and farmers  were going deeper into debt It signaled the end of an era  Basic industries such as  the railroads, textiles, and steel were barely making a profit
  • 3. Agriculture Agriculture suffered the most  During World War I prices rose  and international demand for crops (such as wheat and corn) soared Farmers had planted more and  taken out loans for land and equipment After the war demand fell and  crop prices declined Many lost their farms when  backs foreclosed and seized the property as payment for the debt
  • 4. Consumers and Farmers As farmers’ incomes fell they  bought fewer goods and services They were buying less due to:  Rising prices  Stagnant wages  Unbalanced distribution of  income During the 1920s the rich got  richer and the poor got poorer Between 1920 and 1929 the  income of the wealthiest 1% of the population rose by 75% Compared with a 9% increase  for Americans as a whole
  • 5. Herbert Hoover Hoover won in an  overwhelming victory against Democrat Alfred E. Smith in the election of 1929 Hoover claimed in his  campaign that America was “nearer to the final triumph over poverty than ever before” By 1929 most Americans  still had a huge trust in the nation’s economic health
  • 6. The Stock Market The Dow Jones Industrial Average was  the barometer of the stock market’s health Measure based on the stock prices of  30 large firms trading on the NYSE Through the 1920s stock prices rose  steadily By 1929 about 4 million Americans, or  3% of the nation’s population, owned stock People began engaging in speculation  They bought stocks and bonds on the  chance of a quick profit, while ignoring the risks Many began buying on a margin  Paying a small percent of a stock’s  price as a down payment and borrowing the rest
  • 7. The Crash On October 24th, 1929 the market  took a plunge Panicked investors unloaded their  shares of stocks Black Tuesday  October 29th, known as Black  Tuesday Shareholders dumped 16.4 million  shares of stocks People who had bought stocks on  credit were stuck with huge debts Others lost most of their savings  By November investors had lost  about $30 billion dollars The Crash of the stock market  singled the beginning of the Great Depression (1929-194)
  • 8. Bank and Business Failures After the crash many people  panicked and withdrew their money from banks Some couldn’t get their money  because the banks had invested in the stock market By 1933 11,000 of the nations  25,000 banks had failed Millions lost their savings  Nearly 90,000 businesses went  bankrupt Unemployment skyrocketed 
  • 9. Causes of the Great Depression There is no one definitive  cause of the Great Depression Most historians and  economists cite: Tariffs and war debt polices  that cut down the foreign market for American goods A crisis in the farm sector  The availability of easy  credit An unequal distribution of  income