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Essay / Research Paper Abstract
A 5 page research paper on the 1929 stock market crash. The writer recounts how the nation was told, up until the crash actually occurred, that everything was all right. The details of the crash are given, along with a brief synopsis of where the country stood when the Depression bottomed out in 1932. Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: D0_90crash.rtf
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Unformatted sample text from the term paper:
surely come end in a disastrous collapse if it was not brought under some sort of control (Galbraith 62). One would have thought that Warburg had offered to burn the
American flag from the criticism that was heaped upon him because of his remarks. It was made clear to the public that Warburg obviously didnt appreciate the new era in
economic well-being that the market was reflecting so well?and had been since May of 1928 (Galbraith 62). One articulate critic accused Warburg
of "sandbagging American prosperity" (Galbraith 62). People were investing in the stock market in record numbers. The "technology stock" of its day, RCA Victor, was popular, in spite of the
fact that it yet to pay a dividend. To the people at that time, it did not seem possible that solid stocks such as American Can or AT&T would?or could?ever
go down. Other authorities did not broadcast such gloom, but showed a proper appreciation for the growing economy. Professor Irving Fisher, of Yale, commented that same year that stock prices
had reached what appeared to be a "permanently high plateau" (Galbraith 62). It is estimated that Fisher lost somewhere between eight and ten million dollars in the immediately ensuing crash
(Galbraith 62). Up until the very end, it was possible to read encouraging reports of the stock market in the newspaper. Headlines in the New York Times, on October
23 were still fairly encouraging. They reported that stocks had gained sharply and that "vigorous recovery" marked "most of the day" (10/23 N.Y. Times 1). While the newspaper did admit
that stocks fell slightly at the end of the day, the overall tone of the article was summed up by the line "market gloom lessened." The decline at the end
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