The Wall Street crash

On 3rd September 1929 the stock market reached an all-time high. In the weeks that followed prices began to decline as they lost their value. For companies, falling demand and falling prices meant lower profits Lower profits meant lower share prices. Share prices had risen higher-once investors realised this, they had to sell Many people, who didnt have the cash to buy them, bought them on the margins. When investors realised that their shares were overpriced they began to sell to ensure they got their money back When no one would buy, their prices slumped which meant a loss of profits Those who bought on the margin soon realised as share prices declined the loans theyd taken were near impossible to pay back. Banks couldnt cope with the number of saving being taken out As no one would buy and prices dropped the stock market crashed. The first tome was on (Black Thursday) 24th October, over 12,894,650 shares were sold. Prices fell dramatically and the market lost 11% of its value at the opening bell on very heavy trading Five of the country's bankers, led by Charles E. Mitchell, chairman of the National City Bank, stated that due to the heavy selling of shares, many were now under-priced. This statement failed to halt the reduction in demand for shares. On 29th October, over 16 million shares were sold at low prices. The market had lost 47 per cent of its value in twenty-six days. The market had lost over $30 billion in the space of two days 100,000 American companies were forced to close and consequently many workers became unemployed. As there was no national system of unemployment benefit people were left to fend for themselves This in turn contributed to the great depression.

The Great depression

Farming and rural areas suffered as crop prices fell by approximately 60%.Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as cash cropping, mining and logging suffered the most. Trade fell-both nationally and abroad. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment put whole towns out of work especially Tennessee. Unemployment in the U.S. rose to 25% and in some countries rose as high as 33%. Farmers abandoned homes and rural areas suffered as crop prices fell by approximately 60%. They left in their thousands creating the southern dustbowl Areas dependent on primary sector industries such as cash cropping, mining and logging suffered the most. Faith in the system was lost as bonus army workers united and cried in hoover we trusted (president),now were busted Rugged individualism failed- the policy that built the boom was also the reason for its failure. Destitution-hobos and hoovervilles were clear signs of the widespread poverty in America. Productions came to a close, factories closed and the entertainment industry declined. Unemployment put whole towns out of work especially Tennessee. Unemployment in the U.S. rose to 25% and in some countries rose as high as 33%. 13 million + were unemployed in America Suicides increased as well as deaths Families were in constant struggle for survival.

The American dream

The American Dream is a phrase referring to the supposed freedom that allows all citizens and residents of the United States to pursue their goals in life through hard work and free choice. The American Dream often refers to the

opportunity for immigrants to achieve greater material prosperity than was possible in their countries of origin. America has been viewed as a land in which one's prospects in life are defined by one's talents and energy rather than by one's family wealth or political connections. This hope includes the opportunity for one's children to grow up and receive an education. it is the opportunity to make individual choices without the restrictions of class, caste, religion, race, or ethnic group.

What is a dustbowl?
A region reduced to aridity by drought and dust storms e.g. After the Dust Bowl, region in the south-central US that was stricken with drought in the 1930s. It was a giant dust storm covering the Great Plains. It started around '31 with a long drought and unending wind. It blew for ten years taking most of the topsoil with it until the plains looked more like the Sahara than farmland. No plants or animals or rain. The Okies left their foreclosed farms and went to the Promised Land in California to start a new life.

The role of women

The role of women during 1930's Western society was in a developing stage. However after the Wall Street crash, an economic leading to the Great Depression, the living standards of women declined even more than men. As women were still considered less important than men, they were the first to be fired from jobs and their lives went downhill from there. Women were also still considered as the care taker of the children and perceived as the typical house wife.