Wall Street Crash of October 1929
The roaring twenties saw a great deal of prosperity in the United States economy. Everything seemed to be going well as stock prices continued to rise at incredible rates and everyone in the market was becoming rich. Two new industries: the automotive industry, and the radio industry were the driving forces of this economic boom. These industries were helping to create a new type of market that no one had ever seen in history. With the market continuously increasing and with no foreseeable end, many individuals were entering the market because they saw the market as a sure fire way to get rich quickly. The rising prices of stocks and the large increases in trading created the speculative market that would eventually crash. On Monday, October 28, 1929, New York seemed to be the primary focus of the entire world. During that week in October, the bottom of the New York stock market fell out, an event that would lead the world into the greatest depression it has ever seen to date. Many individuals including those in the Federal Reserve Board saw the crash as a healthy thing that would bring all speculative trading to an end, and bring stock prices down to “realistic” levels. Following the crash the Fed followed a contractionary policy, which does not encourage expansion. Although that type of policy did need to be implemented prior to the crash, the decision to implement contractionary policy after the crash at best can be considered a questionable decision. The unstable financial situation of the United States that lead to the great crash can be attributed to the lack of leadership and action of the Federal Reserve in the financial world during the roaring twenties.
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...31 Oct. 1929
9. “Stocks Up Again on Flood of Buying; Discount Rate Cut Here and in London; Back to Normal, Reserve Board Finds.” The New York Times 1 Nov. 1929
10. “Brokers See End of Stock Hysteria.” The New York Times 1 Nov. 1929
11. Herbert Hoover, The Memoirs of Herbert Hoover (New York: Macmillan, 1952)
12. L. V. Chandler, Benjamin Strong, Central Banker (Washington DC: Brookings Institute, 1958)
13. “Behind the scenes with the Federal Reserve Board,” World’s Work (June 1929)
14. Excerpts from the Hamlin Diary -
http://memory.loc.gov/cgi-bin/ampage?collId=amrlm&fileName=mn02page.db&recNum=0&itemLink=r?ammem/cool:@field(DOCID+@lit(mn023))%23mn02003&linkText=1
15. Appendix 1: can be found at www.duke.edu/~wem3/ click on work stuff then under HST104
16. Appendix 2: can be found at www.duke.edu/~wem3/ click on work stuff then under HST104
The stock market crash of 1929 is one of the main causes of the Great Depression. Before the stock market crash many people bought on margin, which caused the stock market to become very unbalanced, which led to the crash. Many people had invested heavily in the stock market during the 1920’s. All of these people who invested in the stock market lost all the money they had, since they relied on the stock market so much. The stock market crash also played a more physiological role in causing the Great depression. More businesses became aware of the difficulties, which caused businesses to not expand and start new projects. This caused job insecurity and uncertainty in incomes for employees. The crash was also used as a symbol of the changing times. The crash lead the American peop...
In America guns have been a part of the country’s society since it’s birth. Throughout history the citizens of the US have used firearms to protect the nation, protect their families, hunt for food and engage in sporting activities. The issue of Guns and gun control is complex. Weighing the rights and liberties of the individual against the welfare and safety of the public has always been a precarious balancing act. In the United States, gun control is one of these tumultuous issues that has both sides firmly entrenched in their positions. Those parties in favor of gun ownership and the freedom to use and keep arms, rely on the fact that the provision for such rights is enshrined in their constitution. In this climate of growing violence, rife with turmoil and crime, gun advocates feel more than ever that their position is justified. As citizens of the “Land of the Free” possessing a gun is a fundamental right, and may even be a necessity... Anti- gun lobbyists point to the same growing violence and gun related crimes in an effort to call on the government to take action. By enacting more laws and stricter control, these people not in favor of guns feel society would be better safer.
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Sparta, also called Lacedaemon, was a city in ancient Greece, and one of the most famous ancient Greek cities of the Peloponnesus. Found in the hills of Mount Taygetus many would consider was a brutal group of militaristic people. Although, this to some extent may be true most of the written information was derived from the ancient city-state of Athens, who were great enemies of the Spartan society.
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During the archaic and classical periods (ca 800-323 BCE), Ancient Greece consisted of several hundred poleis or “city states.” Each polis was its own small country. Many of these were no more than small towns or even Villages which controlled sometimes very small territories. At the opposite end of this spectrum were the two largest, most powerful and ultimately most influential Greek city states, Athens and Sparta. Politically, they were opposites of each other.
Although the Second Amendment prevents the federal government from completely banning guns in America, limited restrictions are allowed on the distribution and possession of firearms. Certain groups of people such as criminals, the mentally unstable, and soldiers dishonorably discharged from the military are prohibited from possessing or interacting with firearms (Flynn). These restrictions are enforced by background checks in some states on both a state and federal level. However, gun laws vary from state to state and are often not thorough enough; the background checks are flawed due to lack of information and misinformation, and guns can easily end up in the hands of criminals and malevolent individuals. The ease of obtaining a firearm in America fosters crime and a dangerous environment. Hence, the Second Amendment should be reinterpreted so that stricter gun laws can be implemented because modern citizens do not require guns, current background checks are flawed, gun...
Bonnie Jo Campbell titled the short story with a hyphen in the word, Sleep-over. This was the first use of literary devices, foreshadowing. Normally the word is spelled without the use of a hyphen. By definition, hyphens are used to connect, or separate words. In this case, I believe Campbell used the conjoined meaning of the hyphen. The conjoining of the words, sleep and over, signifying that no sleep will be done, which supported by the text when pammy falls asleep, but the narrator is still awake. Campbell uses the literary device of symbolism plenty in this story. In writing authors use symbols for meaning, but also for emotions in the topic(Columbia Electronic Encyclopedia). Vanity, can be shown in this text, as in most, by comparing oneself to another character in terms of beauty (Greenfield Web). In Sleep-over the narrator compares her chest to that of Pammy’s being that hers is smaller. The author starts her symbolism with this comparison, and moves on to the parts of the body. She lists in order: mouth, throat, collarbone, pelvis, and tongue. The mouth and throat are used for the fundamentals of interaction of other beings. Bone in general often signifies eternity because they are the last part of the human body after death. As for the tongue...
The farmers feared that Eastern industrialists and bankers were gaining too much influence, power and control over the government. During the “bust” cycle, and times of difficulties, farmers got together, talked about their problems and formed the Populist Party. The Populists were formed because of challenges and difficulties in which they were forced to deal with every day. These challenges included crop failures, falling prices, and the inability to pay loans. The Populists party called for reform by wanting the government to intervene and lessen the impact of economic depressions, regu...
The stock market crash of 1929 is the primary event that led to the collapse of stability in the nation and ultimately paved the road to the Great Depression. The crash was a wide range of causes that varied throughout the prosperous times of the 1920’s. There were consumers buying on margin, too much faith in businesses and government, and most felt there were large expansions in the stock market. Because of all these...
The expectations of a modern day gender role aren’t as sufficient as they used to be in the 1800’s. They’ve changed drastically as centuries went on, communities began to expect less. In the book, “The Awakening,” the expectations that were to be upheld by a woman in the 1800’s caused Edna to be unhappy with her life, and it was one of the causes to her making the decisions she made.
Shakespeare, William. The Tragedy of Macbeth. Elements of Literature. Sixth ed. Austin: Holt, Rinehart and Winston, 1997.
The most prevalent and obvious gender issue present in the novella was that Edna challenged cultural norms and broke societal expectations in an attempt to define herself. Editors agree, “Edna Pontellier flouts social convention on almost every page…Edna consistently disregards her ‘duties’ to her husband, her children, and her ‘station’ in life” (Culley 120). Due to this, she did not uphold what was expected of her because she was trying to be superior, and women were expected to be subordinate to men. During that time, the women were viewed as possessions that men controlled. It was the woman’s job to clean the house, cook the meals, and take care of the children, yet Edna did none of these things. Her lifestyle was much different. She refused to listen to her husband as time progressed and continually pushed the boundaries of her role. For example, during that time period “the wife was bound to live with her husban...
In early 1928 the Dow Jones Average went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929…) It was anticipated that the increases in earnings and dividends would continue. (1929…) The price to earnings ratings rose from 10 to 12 to 20 and higher for the market’s favorite stocks. (1929…) Observers believed that stock market prices in the first 6 months of 1929 were high, while others saw them to be cheap. (1929…) On October 3rd, the Dow Jones Average began to drop, declining through the week of October 14th. (1929…)