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Stock Market Crash of 1929
Workers flood the streets in a panic following the Black Tuesday stock market crash on Wall Street, New York City, 1929
Hulton Archive/Archive Photos/Getty Images
Remembered today as "Black Tuesday," the stock market crash of October 29, 1929, was neither the sole cause of the Great Depression nor the first crash that month. The market, which had reached record highs that very summer, had begun to decline in September.
On Thursday, October 24, the market plunged at the opening bell, causing a panic. Though investors managed to halt the slide, just five days later on "Black Tuesday" the market crashed, losing 12 percent of its value and wiping out $14 billion of investments. Two months later, stockholders had lost more than $40 billion dollars. Even though the stock market regained some of its losses by the end of 1930, the economy was devastated. America truly entered what is called the Great Depression.
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Answer: gaining the obedience of Ghana’s neighbours.
Strictly speaking, <em>ghana</em> is the name that was given to rulers in precolonial Ghana. However, after its independence, this name was adopted as a symbol of Ghana's past.
The rulers of Ghana were renowned for their wealth in gold. They were also famous for their opulent courts, large armies and warrior skills. These armies were mostly used to gain the obedience of their neighbours. They were also masters of the trade in gold. Their military achievements and their gold trade dominated most of their relations with merchants and rulers in North Africa and the Mediterranean.
