What are the causes of the Stock
Market Crash on Black Tuesday (10/29/1929)?

ANSWER:

By then, production had already declined and unemployment had risen, leaving stocks in great excess of their real value. Among the other causes of the stock market crash of 1929 were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.

Explanation:

U.S. PRESIDENTS

JAMES MONROE

JAMES MONROE - KEY EVENTS

April 28, 1817

Rush-Bagot Agreement

Britain's minister to the United States, Charles Bagot, agrees to the conditions of the Rush-Bagot Agreement. Following negotiations, acting Secretary of State Richard Rush sends the document to Britain in August 1816. This is the final version of a treaty that Monroe, while secretary of state under Madison, negotiated with British foreign minister Robert Stewart Castlereagh. The agreement limits naval capacity on the Great Lakes; in doing so, it alleviates possible tension between the two nations following the War of 1812. Each country is held to one ship on Lakes Champlain and Ontario, and two ships on all the other lakes. Limits are also placed on ship tonnage and armaments

Monroe tours New England

Monroe embarks on a lengthy, sixteen-week tour of New England. In the absence of his major cabinet appointees, Monroe uses the tour to foster a sense of national unity through local political contact, public appearances, and private meetings with opposing Federalists. The tour gives birth to the designation of Monroe's administration as the “Era of Good Feelings.”

Aguirre Mission

Monroe enunciates a policy of neutrality towards the Latin American colonies seeking independence. He also advocates a controversial fact-finding mission, the Aguirre Mission, to Buenos Aires that could be construed as recognition for the colony's sovereignty.

Mississippi becomes a state

Mississippi becomes the twentieth state in the Union.

Seminole Indian uprisings

Secretary of War John C. Calhoun orders General Andrew Jackson to quell Seminole Indian uprisings in the Floridas and southern Georgia; Jackson also receives a private letter from Monroe urging such action. In March 1818, Jackson pursues the Seminoles into Spanish Florida -- where he suspects they are receiving assistance -- takes the fort of St. Marks on March 6, forces the surrender of Fort Carlos de Barrancas, and executes, among others, a Scot Indian trader and a British lieutenant. After capturing the Spanish capital in May, Jackson returns to Tennessee.

Jackson, Florida and Spain

Monroe learns of Jackson's exploits and, along with his cabinet (except John Quincy Adams), disapproves of Jackson's actions. Following protests from the ministers of Britain, Spain, and France, Monroe concedes that Jackson's behavior in Pensacola amounted to acts of war. The President repudiates Jackson and orders that Pensacola be handed back to Spain. Meanwhile, Adams, in a July letter, supports Jackson's tactics, blaming Spain for its inability to control the Indians. Despite his concession, Monroe recognizes that Jackson's activities in Florida provide the United States with a favorable strategic position for negotiations with Spain.

Anglo-American Convention

British and American diplomats meet at the Anglo-American Convention and conclude a treaty resolving some, but not all, of the outstanding issues from the War of 1812. The nations agree on a northern border of the Louisiana Purchase, fixed at the 49th parallel, from the Lake of the Woods to the Rocky Mountains. Britain also acknowledges U.S. fishing rights off Newfoundland and provides compensation for slaves who fled to British lines. The Rush-Bagot Agreement is formally signed.

Illinois becomes a state

Illinois is admitted as the twenty-first state of the Union.

Alabama becomes a state

Alabama becomes the twenty-second state of the Union.

The Panic of 1819

The Panic of 1819 begins to take shape. A sharp decline in real estate values and a severe credit contraction (an inability to secure bank loans) inflates the currency and causes imports and prices to fall. In March, the price of cotton collapses in the English market. The conservative policies of the Second Bank of the United States, founded in 1816, accelerates the crisis, which ends around 1823.