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The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
Charles Edwin Mitchell (October 6, 1877 – December 14, 1955) was an American banker whose incautious securities policies facilitated the speculation which led to the Crash of 1929. First National City Bank's (now Citibank ) controversial activities under his leadership were a major contributing factor in the passage of the Glass-Steagall Act .
In the United States, the Great Depression began with the Wall Street Crash of October 1929 and then spread worldwide. The nadir came in 1931–1933, and recovery came in 1940. The stock market crash marked the beginning of a decade of high unemployment , famine, poverty, low profits, deflation , plunging farm incomes, and lost opportunities ...
However, the mini-crash was averted two days later when National City Bank pumped $25 million in credit into the stock market. Summer: Consumer spending and industrial production begin to stagnate. The Federal Reserve continues with its plan to raise interest rates from 4% in mid-1928 to 6% by mid-1929 in an attempt to combat speculative behavior.
Auburn Gresham, most commonly referred to simply as Gresham, is one of the 77 official community areas of the city of Chicago, Illinois.It is located on the far south side of the city and was the original location of the South Side Irish Parade before it was relocated to the adjoining Beverly neighborhood immediately southwest.
The population of Paris declined slightly from its all-time peak of 2.9 million in 1921 to 2.8 million in 1936, with city-dwellers opting to return to the countryside to ride out the economic crisis among family. The arrondissements in the center lost as much as twenty percent of their population, while the outer neighborhoods, gained ten percent.
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However, less than a year later Cutten had lost more than $50 million as a result of the Wall Street Crash of 1929. The ensuing investigation of the crash by the United States Senate's Pecora Commission brought a public outcry over rich speculators such as Cutten who had made huge amounts of money by forming trading pools to manipulate market ...