Causes of the Crash in 1929 By Cmeloon 1920 108 motor vehicles companies Period: 1920 to 1925 Miami population increased by 100,000 Aug 1, 1920 Charles Ponzi arrested for promising people 50% profits in 90 days Period: 1921 to 1923 Warren Harding president Period: 1921 to 1928 5000 banks closed Period: 1923 to 1929 Calvin Coolidge was President 1925 Internal revenue service taxing on property speculation Period: 1925 to 1929 Share values of NYSE increased $30 billion 1926 T Coleman Du Pont bought land in Florida for people in NE to go to in winter 1926 Florida land boom trailed off 1927 Federal reserve boards kept interest rates low at 3.5% 1927 McFadden Pamper Act Period: 1927 to 1929 People went Wall-Street-Crazy Period: Jan 1, 1928 to Dec 31, 1928 Radio corporations increased by 335 1929 44 motor vehicle companies 1929 Per capita income in NE is $921 1929 Per capita income in SE is $361 1929 Lowest 40% owned 12.5% of economy 1929 NYSE handles 61% of stocks/ shares in USA 1929 Top 5% owned top 33% of economy 1929 60% of Americans had an income of below $2000 Period: 1929 to 1933 Herbert Hoover President Period: Oct 24, 1929 to Oct 29, 1929 Wall street Crashed Oct 28, 1929 Daw Jones showed a drop of 28 points in stock 1933 Glass Steagal Act