The 1929 Stock Market Crash

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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
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Product Details

  • ISBN-13: 9781604530506
  • Publisher: ABDO Publishing
  • Publication date: 1/1/2008
  • Series: Essential Events Set 2 Series
  • Format: Library Binding
  • Pages: 112
  • Age range: 11 - 15 Years
  • Product dimensions: 6.20 (w) x 9.10 (h) x 0.50 (d)

Table of Contents

The Calm before the Storm     6
Stocks and Bonds     18
The Federal Reserve Takes Action     30
Black Thursday     40
Investors Hold On     50
The Collapse     58
In the Wake of the Crash     66
Looking Back on the Crash     76
The Great Depression     84
Timeline     96
Essential Facts     100
Additional Resources     102
Glossary     104
Source Notes     106
Index     110
About the Author     112
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