Causes of the Wall Street Crash

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Causes of the Wall Street Crash On 24 October 1929, some shareholders began to lose confidence and believing that the prices of shares could not continue to rise forever, decided to sell. A panic began, and so many shares were sold on that day that it became known as Black Thursday. The Wall Street Crash was under way. By Tuesday 29 October so many shares were being sold that the teleprinters could not keep up, share prices continued to fall, and people lost vast sums of money and were ruined. Causes of the Wall Street Crash ------------------------------- The reasons that led to the Wall Street Crash can be put into two main categories: * Those to do with the overproduction of goods. * Those to do with money and the stock market. Reasons linked to overproduction that led to the Wall Street Crash: 1. Companies were producing too many goods. 2. American goods could not be sold abroad because other countries had put tariffs (taxes) on them to make them more expensive. 3. When the demand for goods began to fall, workers' wages were cut and some workers became unemployed, which meant that they could no longer afford to buy the new consumer goods. 4. Farmers could not afford to buy the new consumer goods. Reasons linked to money and the stock market that led to the Wall Street Crash: * People were allowed to borrow too much money and they could not afford to pay it back. * People had taken out loans or invested their savings in the stock market, but there were too few controls on the buying and selling of shares. * The US President had not taken any notice of what ... ... middle of paper ... ... know what the letters mean and explain what the agencies did. * If you are asked to explain how successful something was, you need to write about the successes and failures as well as giving your own overall conclusion. Civil rights Martin Luther King wanted the civil rights protest to be non-violent. He believed that peaceful protests, with no threats and no bullying, such as the boycott of buses, would help the blacks achieve equality. Even if violence was used towards them King did not believe that civil rights campaigners should respond. He had seen the success of this method of peaceful protest in India where Gandhi had used it to campaign for independence. He made this speech during the Montgomery bus boycott in 1955, which was when King emerged as leader of the civil rights movement.