Say, have you fellas ever heard of the stock market?
Wow! This stock market really is the bee's knees! I think I might choose to invest soon!
Oh, yeah I've heard of it, loads of folks are investing in it, and they're making big money!
It's true! I invested in a few stocks and they've already been increasing in value! I am going to be rich!
Café
Of course, sir.
Hello! I'd like to have a $1,000 loan, please.
BANK
Don't worry! That's the amazing thing with the stock market, your share value keeps increasing and you just get richer!
But aren't you a little concerned with how you'll pay the loan back? We can never afford it!
Wow! We're going to be rich!
In the 1920s many Canadians thought that investing in the stock market was a way to get rich quick. This false belief prompted many Canadians to start investing in the stock market.
Excuse me! I must sell my stocks immediately!
Thursday , October 24th, 1929
What's happening?
The concept of buying on the margin allowed ordinary people without much business knowledge to borrow money from their stockbroker and put down as little as 10 percent of the share value.
I hope this will be enough
Let us hope this will work
It will. We must invest all we can afford to stop the panic
Many Canadians believed that stocks would continue to rise indefinitely.
Sell! Sell!
STOCK EXCHANGE
Out of my way!
I must trade my shares before it is too late!
Black Thursday, October 24th, 1929, was the day that panic selling began. Everyone was scared they would lose money and wanted out of the stock market.
You haven't heard? The value of stocks are declining!
On that same day, a. large group of bankers invested a great amount of their pooled money into the stock market, in hopes to stop panic. Although this did work at first, panic soon arose again.
Tuesday 29th, 1929, was the day the Toronto and Montreal Stock Exchanges crashed.
I can't sell my stocks!
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