Bad Days in History by Michael Farquhar

Author:Michael Farquhar [Farquhar, Michael]
Language: eng
Format: epub
ISBN: 978-1-4262-1280-2
Publisher: Penguin Random House LLC (Publisher Services)
Published: 2015-04-20T16:00:00+00:00

JULY 7, 1456

Oh, Now You Tell Her …

The good news for Joan of Arc was that her death sentence was nullified when she was finally acquitted of heresy on July 7, 1456. The bad news: She had already been reduced to ashes at the stake a quarter century before.

JULY 8, 1932

Rock Bottom: The Depression’s Lowest Ebb

I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover,” Herbert Hoover declared six months after the devastating stock market crash of 1929. “There is one certainty of the future of a people of the resources, intelligence and character of the people of the United States—that is, prosperity!”

The president had every reason to feel optimistic. After all, the market had recovered 30 percent of its value by mid-1930. But the worst, by far, was actually yet to come. On July 8, 1932—a day that made the earlier plummet merely the opening bell to catastrophe—the Dow Jones Industrial Average reached its lowest point of the Great Depression, trading more than 50 percent below the low it had reached on that disastrous October day nearly three years before.

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