One of the most often identified causes of the Great Depression which haunted this country during the 1930s is the stock market crash of 1929. There is no arguing that the effects of this crash were devastating to both the economics and the moral of the American people. The stock market had fluctuated wildly during the year preceding the actual crash. Investors lost and gained in increments never before matched. These extreme profits and losses sometimes occurred within a single day. On October 24, 1929, a day which would forever be remembered as Black Thursday, the market dropped precipitously, taking with it many unwary investors. The following Monday, there was another plunge and more investors were forced into bankruptcy. Just when things looked the worst they could possibly be the stock market, only one day later, plunged even deeper into the deepening red in people's financial ledgers. On this Black Tuesday" there were no buyers at any price and therefore no chance of recovery. This plunge was followed by several plunges of individual's off high-rise buildings as the hard realities of the crash sunk in.
The stock market crash of 1929 was most certainly a contributing factor to the Great Depression which would follow. In reality, however, the causes of the Depression were much deeper than that singular event. Historians are often the most non-committal in identifying these causative factors, preferring evidently to remember this time in history as one of the great unresolved mysteries of the 20th century (Norton, 1997). When they do broach the subject more aggressively they often are vague in their approach and conclusion (Norton, 1997). .
The Great Depression would span the years of 1929 to 1941. Although this country had experienced earlier depression, even one in 1920 just a few years previously, the Great Depression would prove to be an order of magnitude more significant than any other.