Causes of the Great Depression Document Based EssayDocument A-This document is a picture showing a woman thinking about purchasing a vacuum with credit. With credit being a popular item in the 1920s, people were purchasing items through credit with whom they would pay by the endof the year.However, with the stock market crash, credit was no longer a suitable currency to purchase things because if you didn't have money, stores would simply take your vacuum away but the stores never got their money for the item so they lost out on money which later could occur in firing employees or even shutting down.The audience of this image are all citizens with thoughts of purchasing through credit. There is no stated author or time period.Document Bboom that developed with increasing intensity in the years after 1927. As more investors put their money into securities (stocks) in the hope of making a quick profit on a speculative rise in stocks, the character of the New York Stock Exchange was fundamentally altered. Instead of serving primarily as a device for the accumulation of capital of industrial enterprises, the exchange became a betting ring where people gambled on stocks in much the same fashion that gamblers wagered on roulette or horse races. Security prices were forced up by competitive bidding rather than by any fundamental improvement in American corporate enterprise.- Harry J. Carman and Harold 0. Syrett, A History of the American People, 1952.
-This document was written by Harry J. Carman and Harold O. Syrett in 1952 in a publication called A History of the American People. In this document, the authors explain how during the time period where the stock market crash was occurring, investors were bidding on stocks to the point where security prices were forced due to the competitive bidding. With stocks on the verge of inflation, the more the investors would bid the more money was being lost and the more in debt they were. With the stock market crash investors did not make profit and rather lost out on their money if the began bidding before the stock market crash as opposed to when it actually crashed. The audience of this document is for historians learning about the stock market crash and its causes. Document CUS Family Distribution of Income (1929)Annual IncomePercent of Families Earning this IncomeOver $10,0002%$5,000-$10,0006%$2,000-$500032%$1,500-$2,00018%$1,000-$1,50021%Under $1,00021%-This document is a table constructed from data in Frederick Lewis Allen´s The Big Changein 1952. In this chart, we can the percent of families who earned money in 1929 from under $1000 to over $10,000. The biggest percentage of families that owned money ranged from $2000 to $5000. Close behind were under $1000 to $1500. This is important because when the stock market crashed, we can see that a combined total of 60% of
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- Wall Street Crash of 1929, Causes of the Great Depression Document