BEFORE AND AFTER :BLACK TUESDAY Sada Ahlman

BEFORE BLACK TUESDAY: The roaring twenties were an exciting time for the U.S. coming straight out of the first world war.

Facts about the 1920's: (pre-black Tuesday)

  • It was a wild and crazy time where money seemed to be in abundance
  • The "flapper" emerged from this time.
  • Known as the "Jazz age".
  • Prohibition started around this time along with speakeasies and the rise of organized crime figures such as Al Capone.
  • The red scare lead to immigration laws.
  • In 1929 spending dropped and unsold goods started piling up.

BLACK TUESDAY:

  • Black Tuesday is the day the stock market collapsed on Oct, 29, 1929.
  • On that day Many people were trading. Billions of dollars were lost, and because of the massive amount of trading tickets ran hours behind.
  • In 1929 production had already started to decline and unemployment rise.
  • The stock market began to decline in September and only got worse from there.
  • On October 24th a record setting 12,894,650 shares were traded.
  • The banks tried to stabilize it by buying huge portions of stock.
  • It collapsed soon after - on black Tuesday.
  • By 1933 the banks failed
  • 30% of the workforce was soon wiped out, or 15 million.
  • By 1933 stocks were only worth 20% of their original value

The great depression

  • The years (decade) following the collapse was horrific many people went jobless and hungry.
  • People would beg for jobs on the street.
  • Many people started buying on credit but couldn't pay it back.

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