... Jones Average would close at 230. (1929 ) Between October 29th, and November 13 over 30 billion dollars disappeared from the American economy. (1929 ) It took nearly 25 years for many of the stocks to recover. (1929 ) By mid November, the value ... out to lower the stock prices since he perceived that speculation led stocks to be overpriced, causing damage to the economy. Also, in the beginning of 1929, the interest rate charged on broker loans rose tremendously. This policy reduced the ... that the stock price was too high. Herbert Hoover publicly stated that stocks were overvalued an...

• Word Count: 1351
• Approx Pages: 5
• Has Bibliography
• Grade Level: High School