The Crash of 1929 Although the Prohibition controversy was absorbing, public interest in the first year of the Hoover administration became diverted by an event that shook the very economic foundations of the nation, namely, the stock market panic of 1929. The United States had enjoyed a boom after World War I, in which wages were high and production and consumption increased. During this period many had developed a tendency to invest savings and earnings in speculative …showed first 75 words of 587 total…

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