Word: crash
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Dates: during 1920-1929
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...Guardsmen, weary of the eight-week fray, wanted to go home and lick their wounds in private. Democrats also craved a respite; the charge, false or true, that their action on the tariff was largely responsible for the stockmarket crash and business uncertainty made them skittish about pressing their victories...
...Bull Market of 1924-29 was sired by the Golden Industrial Age of the corresponding period. It was easy, after the Market had broken, to denounce speculators as fools and speculation as vicious. Yet a few die-hards (such as Yale's Irving Fisher) maintained, even after the Crash, that quotations had never become so weirdly out of touch with reality as prophets-after-the-event were quick to label them. Given a profound conviction that the future of U. S. industry was boundless, that there was no limit to the potential value of U. S. securities, where could...
October 23. Why then, did a Market which had broken on Oct. 23 demonstrate with a continued crash on Oct. 24 that the end of the Great Bull Market had really arrived? Professor Fisher may stand a discredited prophet, yet apt appeared his analogy between the break on the market and a run on a bank. The Bank was U. S. Industry. Assets of the bank were the real assets of U. S. Industry. Stocks were the paper money which the bank had issued. Now all banks, even the Federal Reserve System, issue more money in paper than they have...
...crash came on Oct. 23, 1929, is as mysterious (and as unimportant) as why the World War chanced to begin on Aug. 4, 1914. If some trace the War no further than to an archducal assassination, then others might trace the Crash to a variety of such moments as that when Goldman Sachs terminated the syndicate on their Blue Ridge investment trust. Vital point is the undermining of popular confidence that ended in the crash...
Sparse has been the comment upon individual losses in the Stockmarket crash fortnight ago. Few people have had the temerity to expose the amount of their trading losses, fearful of jeopardizing their credit standing. Gleeful, therefore, were newsgatherers last week to find one person who admitted her losses, flaunted the amount, even named the stocks she had had. She, a Miss Margaret Shotwell. 19, of Omaha, said that she had lost more than $1,000,000 in Montgomery Ward, Paramount, Cities Service, General Motors...