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Oduvanchick [21]
3 years ago
5

1.Were investors buying or selling stock on October 14, 1929?

History
1 answer:
Mnenie [13.5K]3 years ago
5 0

The Stock Market Crash of 1929 occurred during a period of unregulated wealth and excess. On  October 14, 1929, investors were selling stock in large amounts. In order to halt the slide in the Dow Jones, the market indicator for the purchase and sale of stocks, Richard Whitney, the Vice President of the Stock Exchange, initiated a plan to purchase large quantities of blue chip stocks, stocks in large and reputable companies. This action resulted in temporarily halting the slide in stocks. The value of the market had increased tenfold in the 1920's as a result of speculation and inflated value in the market. A margin call occurs when value of the account falls below the broker's required minimum. While Whitney invested in the market to halt complete collapse, Charles Merrill of Bank of America suggested that his clients eliminate their financial obligations entirely. He realized that the value of the market was inflated and that the rise in stocks had peaked. The crash itself witnessed a lost of more than $30 billion in value in two days. Both General Electric and General Motors lost more than fifty percent of the value of their stocks during the crash.

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Declining Support in Both the U.S. and Japan for America's Bombing of Hiroshima and Nagasaki

This first use of a nuclear weapon by any nation has long divided Americans and Japanese. Americans have consistently approved of this attack and have said it was justified. The Japanese have not. But opinions are changing: Americans are less and less supportive of their use of atomic weapons, and the Japanese are more and more opposed.

In 1945, a Gallup poll immediately after the bombing found that 85% of Americans approved of using the new atomic weapon on Japanese cities. In 1991, according to a Detroit Free Press survey conducted in both Japan and the U.S., 63% of Americans said the atomic bomb attacks on Japan were a justified means of ending the war, while only 29% thought the action was unjustified. At the same time, only 29% of Japanese said the bombing was justified, while 64% thought it was unwarranted.

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Not surprisingly, there is a large generation gap among Americans in attitudes toward the bombings of Hiroshima. Seven-in-ten Americans ages 65 and older say the use of atomic weapons was justified, but only 47% of 18- to 29-year-olds agree. There is a similar partisan divide: 74% of Republicans but only 52% of Democrats see the use of nuclear weapons at the end of World War II as warranted.

In the years since WWII, two issues have fueled a debate over America’s use of nuclear weapons against Japan: Did Washington have an alternative to the course it pursued – the bombing of Hiroshima followed by dropping a second atomic weapon on Nagasaki on Aug. 9 – and should the U.S. now apologize for these actions?

70 Years Ago, Most Americans Said They Would Have Used Atomic Bomb

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