During the 1920s, the appearance of prosperity gave everyone the impression that the economy was strong

and would stay strong.

 Important industries like farming, housing, textiles and railroads were less than prosperous and their decline would drag down many other industries.

 Although Congress tried to establish price supports to help the troubled farmers, President Coolidge refused to provide farm welfare to the struggling farmers.

 Credit allowed many Americans to live beyond their means and business had encouraged them to pile up large amounts of debt. (appearance of wealth)

 As values shifted, hard working rural values were replaced with the get rich quick schemes of the big cities.

 Throughout

the 1920, there was an increase in the uneven distribution of wealth, as the rich grew very rich, while everyone else was barely making a living.

 Although those experienced with economics saw the writing on the wall, average Americans kept investing in the stock market until the bitter end.

 On Black Tuesday, October 29, 1929, after a few days of steep declines, the market crashed.