WALL STREET CRASH

Brambilla Valentina, 5tga2,Anno scolastico 2009/2010.

For eight years, from 1921 to 1929, there was a boom in the American's economy.

Business was going well, sales and profits increased and price shares rose.

The 24th and 29th october 1929 shares prices on Wall Street fell dramatically.

Ordinary Americans were investing in Stock Market, buying shares in companies which they hoped a make large profits.

This crash is know as Wall Street Crash.

Many people when bought shares, lost everythings, their jobs and their money.

The Usa government did not believe that it had any responsibility for what was happening.

Warren Harding and Calvin Coolidge, believed that it was not their job to interfere.

Some americans predicted that a crash was coming, but very few people took them seriously.

People drew their money out of Banks. Subsequently, many banks collapsed because people stopped spending.

There was an increase of unemployment

because people lost their jobs.

Many people began to live in shanty towns called Hoovervilles, in honore at Usa President Herbert Hoover, he don't help their and saw that was not his job.