After consultations with the Bank of England, the Treasury issued a statement announcing its intention to suspend the gold standard on Sunday 20 September, and parliament approved the Bill the next day.
From its high of 381.17 on September 3, 1929, the Dow plummeted by almost 90 per cent to 41.22 on July 8, 1932.
The closure of Palmer’s Shipyard was a devastating blow to the people of Jarrow, where unemployment had hit 70%.
Although the scale of panic selling did slow down, the market continued its downward trajectory for over 2 years.
Bonus Marchers in Washington D.C. were forcibly removed by the U.S. Army under General Douglas MacArthur.
On the 15th December 1933, the Twenty-first Amendment to the United States Constitution came into effect, repealing the Eighteenth Amendment which had made the sale, manufacture, and transportation of alcohol illegal.
Thursday the 24th October 1929, known as Black Thursday, is generally accepted as the first day of the Wall Street Crash.
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