Financial experts warned the public the the American Economy is slowing down. With this warning in mind, investors started selling their shares in large numbers in September 1929. By 24th October 1929, 12.8 million shares were sold and another 16 million shares were sold at a very low price on 29th October 1929. The panic selling of shares lead to the collapse of the stock market in New York.
The aftermath of the wall street crash was very disastrous. Investors lost their money and was not able to pay off their debts. Many banks closed, leaving their depositors with no money nor hope for the future. Ordinary people lost their means to buy foods and other basic needs like shelter and clothes. Companies have to downsize resulting to firing of redundant workers and lowering the wages of the remaining workers. Unemployment rose to very high level.
The Wall Street Crash led to the beginning of the Great Depression in the 1930s.
Eat Depression<span>, </span><span>worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe </span>depression<span> ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. Although it originated in the </span>United States<span>, the Great Depression caused drastic declines in output, severe </span>unemployment<span>, and </span>acute<span> deflation in almost every country of the world. so it is true</span>
The answer to this is true
Gottlieb Mittelberger (1714 – 1758) was a German writer and lutheran pastor who described the miseries suffered by German inmigrants in the colonial US in his work <em>Journey to Pennsylvania</em>.
He described the miserable transatlantic journey plus the exploitation they suffered at their arrival when the colonists hired them as indentured servants, the loss of freedom, the lack of health conditions, etc. He tried to convince people not to immigrate from Europe as their life conditions would turn much worse than before.
Answer:
Rome, Rochester, Albany, and Buffalo.
Explanation:
