This Day in History – October 29th, 1929

Four days of the week are named after Nordic gods: Thor has Thursday, Odin has Wednesday, Frida has Friday, and Tuesday is named in honor of Tiw, the destructive god of war, often equated with the Roman god Mars. It therefore seems apt that October 29th, 1929 was a Tuesday as a destructive force swept across the United States economy leaving this day to be known as Black Tuesday or . . . the Wall Street Crash of 1929.

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Crowd at New York’s American Union Bank during a bank run early in the Great Depression.

The Roaring Twenties, the decade that followed World War I and led to the Crash, was a time of wealth and excess. Building on post-war optimism, rural Americans emigrated to the cities in vast numbers throughout the decade with the hopes of finding a more prosperous life in the ever growing expansion of America’s industrial sector. While the American cities prospered, the vast emigration from rural areas continued to neglect the US agriculture industry, and created widespread financial despair among American farmers throughout the decade. This would later be blamed as one of the key factors that led to the 1929 stock market crash.

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