The 1929 Stock Market Crash

The 1929 Stock Market Crash

by Martin Gitlin
     
 

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Editorial Reviews

Children's Literature - Della A. Yannuzzi
Author Gitlin has written a nine-chapter book on a historical event that happened in the late 1920s. In the fall of 1929, stock prices fell drastically due to the panicked selling of stocks. In one trading day, more than 2.6 million shares of stock traded hands, resulting in a market decline of four billion dollars. On Thursday, October 24 (called Black Thursday), a record-breaking 13 million shares were traded. Around the country, frightened investors tried to get rid of their shares before prices dropped. The stock market was close to crashing, but New York City bankers put several million dollars of their banks' money into the market. The collapse of the stock market was averted temporarily. Two days later, the market started to decline again. The market was dropping, and many investors were literally losing the shirts off of their backs. Many people blamed President Herbert Hoover for both his ineffective policies during the stock market crash and the Great Depression that followed. However, Hoover was optimistic that the country would recover, even though the crash had ruined many lives. Two years later, people were still trying to recover. Jobs were scarce, and droughts in the Great Plains devastated food crops. The Great Depression is considered the worst economic depression the United States has experienced. This book includes many informative sidebars and black-and-white photographs. A timeline, a list of books for further reading, a list of websites, information about places to visit, a glossary, and source notes are included. The author has done a good job of writing about a complicated topic for a young reading audience. Reviewer: Della A. Yannuzzi

Product Details

ISBN-13:
9781604530506
Publisher:
ABDO Publishing
Publication date:
01/01/2008
Series:
Essential Events Set 2 Series
Pages:
112
Product dimensions:
6.20(w) x 9.10(h) x 0.50(d)
Age Range:
11 - 15 Years

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