Five days after the October 24 crisis, on Black Tuesday—October 29, 1929—the stock market experienced the greatest crash in its history. As soon as the stock exchange's gong sounded, a mad rush to sell began. Trading volume soared to an unprecedented 16,410,030 shares and the average price of a share fell 12 percent. This dive came with the convergence of economic problems of production, income, and credit. The crash destroyed the fortunes of brokers and speculators and set off a long period of economic panic. It also marked the beginning...
Many elementary school students are unaware of how banks make money and what causes them to fail. This lesson will provide students with a basic understanding of those two issues, linking them to the Great Depression and Franklin Delano Roosevelt's Banking Holiday in 1933.
How do banks make money?
What causes banks to fail?
How did Franklin Delano Roosevelt try to stem the failure of banks in 1933?