Throughout the 1920s, prices on the U.S. stock exchange rose exponentially, however, by the end of the decade, uncontrolled growth and a stock market propped up by speculation and borrowed money proved unsustainable, resulting in the Wall Street Crash of October 1929. This set a chain of events in motion that led to economic collapse - banks demanded repayment of debts, the property market crashed, and people stopped spending as unemployment rose. Within a year the country was in the midst of an economic depression, and the economy continued on a downward trend until late-1932.

It was during this time where Franklin D. Roosevelt (FDR) was elected president, and he assumed office in March 1933 - through a series of economic reforms and New Deal policies, the economy began to recover. Stock prices fluctuated at more sustainable levels over the next decades, and developments were in line with overall economic development, rather than the uncontrolled growth seen in the 1920s. Overall, it took over 25 years for the Dow Jones value to reach its pre-Crash peak.

Graph and download economic data for Dow-Jones Industrial Stock Price Index for United States (M1109BUSM293NNBR) from Dec 1914 to Dec 1968 about stock market, industry, price index, indexes, price, and USA.

The Study’s subject: The investigator’s aim is to determine the volume of stock trade. A sample of papers consisting of shares, government’s bond issues, corporate bond issues, bonds of mortgage banks, bonds of so called ‘Landschaftsbanks’, bonds of annuity banks, and floated subscription rights is the focus of the investigation.

With regard to the periods of German history the development of the stock market is described. The periods are: - the influence of the First World War 1914 to 1918 on the stock market - the period of inflation 1919 to 1924 - apparent return of normality 1924 to 1929 - the influence of world economic crisis 1929 to 1933 - the Nazi Socialist economic policy 1933 to 1939 - finally, the Second World War 1939 to 1945.

Important comment on the data: Taxes and the system of taxes have changed over time under investigation. Therefore, the development of stock exchange turnover tax is only one indication among others for the development of securities transactions. Furthermore, it has to be taken into account, that the reported values for the period of inflation cannot be used for comparisons with other periods.

Data-Tables in HISTAT (subject: money and currency, financial sector, in German: Thema: Geld und Währung, Finanzsektor):

A. Volume of Stock Trade in Germany A.1 Development of stock exchange turnover tax in millions of M/RM (1910-1944). A.2 Circulation of securities of domestic issuers in Billions of M/RM (1910-1944).

B. Apparent return of normality after the period of inflation
B.1 monthly averages of share prices (monthly statistics, index: 1924 to 1926 = 100, (1925-1929)). B.2 Monthly bonds prices in percent of the nominal value (monthly statistics, (1925-1929)). B.3 Stock market in Breslau: Firms and brokers authorized for stock trading (1850-1931/32).

C. Influence of economic crisis
C.1 Monthly share prices (monthly statistics, index: 1924 to 1926=100 (1930-1934)). C.2 Monthly bonds prices in percent of the nominal value (monthly statistics, (1930-1934)).

D. Influence of Nazi Socialist economic policy and stock exchange during World War II D.1 Share prices of the company ‚Rütgerswerke-AG’ in Berlin (1933-1937). D.2 Index of share prices, index: 1924 to 1926=100 (1924-1943).

On October 29, 1929, the U.S. experienced the most devastating stock market crash in it's history. The Wall Street Crash of 1929 set in motion the Great Depression, which lasted for twelve years and affected virtually all industrialized countries. In the United States, GDP fell to it's lowest recorded level of just 57 billion U.S dollars in 1933, before rising again shortly before the Second World War. After the war, GDP fluctuated, but it increased gradually until the Great Recession in 2008. Real GDP Real GDP allows us to compare GDP over time, by adjusting all figures for inflation. In this case, all numbers have been adjusted to the value of the US dollar in FY2012. While GDP rose every year between 1946 and 2008, when this is adjusted for inflation it can see that the real GDP dropped at least once in every decade except the 1960s and 2010s. The Great Recession Apart from the Great Depression, and immediately after WWII, there have been two times where both GDP and real GDP dropped together. The first was during the Great Recession, which lasted from December 2007 until June 2009 in the US, although its impact was felt for years after this. After the collapse of the financial sector in the US, the government famously bailed out some of the country's largest banking and lending institutions. Since recovery began in late 2009, US GDP has grown year-on-year, and reached 21.4 trillion dollars in 2019. The coronavirus pandemic and the associated lockdowns then saw GDP fall again, for the first time in a decade. As economic recovery from the pandemic has been compounded by supply chain issues, inflation, and rising global geopolitical instability, it remains to be seen what the future holds for the U.S. economy.

The Study’s subject: The investigator’s aim is to determine the volume of stock trade. A sample of papers consisting of shares, government’s bond issues, corporate bond issues, bonds of mortgage banks, bonds of so called ‘Landschaftsbanks’, bonds of annuity banks, and floated subscription rights is the focus of the investigation.

With regard to the periods of German history the development of the stock market is described. The periods are: - the influence of the First World War 1914 to 1918 on the stock market - the period of inflation 1919 to 1924 - apparent return of normality 1924 to 1929 - the influence of world economic crisis 1929 to 1933 - the Nazi Socialist economic policy 1933 to 1939 - finally, the Second World War 1939 to 1945.

Important comment on the data: Taxes and the system of taxes have changed over time under investigation. Therefore, the development of stock exchange turnover tax is only one indication among others for the development of securities transactions. Furthermore, it has to be taken into account, that the reported values for the period of inflation cannot be used for comparisons with other periods.

Data-Tables in HISTAT (subject: money and currency, financial sector, in German: Thema: Geld und Währung, Finanzsektor):

A. Volume of Stock Trade in Germany A.1 Development of stock exchange turnover tax in millions of M/RM (1910-1944). A.2 Circulation of securities of domestic issuers in Billions of M/RM (1910-1944).

B. Apparent return of normality after the period of inflation
B.1 monthly averages of share prices (monthly statistics, index: 1924 to 1926 = 100, (1925-1929)). B.2 Monthly bonds prices in percent of the nominal value (monthly statistics, (1925-1929)). B.3 Stock market in Breslau: Firms and brokers authorized for stock trading (1850-1931/32).

C. Influence of economic crisis
C.1 Monthly share prices (monthly statistics, index: 1924 to 1926=100 (1930-1934)). C.2 Monthly bonds prices in percent of the nominal value (monthly statistics, (1930-1934)).

D. Influence of Nazi Socialist economic policy and stock exchange during World War II D.1 Share prices of the company ‚Rütgerswerke-AG’ in Berlin (1933-1937). D.2 Index of share prices, index: 1924 to 1926=100 (1924-1943).

Comprehensive collection of financial reports and documents for DAIWA HOUSE INDUSTRY CO., LTD. (1925)

Gegenstand der Studie: Der Autor versucht, den Umfang des Handels mit Wertpapieren an den Börsen zu bestimmen. Eine Auswahl von Wertpapieren steht hierbei im Mittelpunkt der Untersuchung. Es handelt sich dabei um Aktien, Kuxe, Anleihen der öffentlichen Hand, Anleihen der Unternehmen, Pfandbriefe von Hypothekenbanken, von den Landschaftsbanken und von Rentenbanken sowie um die gehandelten Bezugsrechte. Auf die Vorgänge an den Wechsel- und Devisenbörsen wird nur dann eingegangen, wenn diese Vorgänge für den hier analysierten Wertpapierhandel von Bedeutung sind. Angelehnt an Teilperioden der deutschen Geschichte wird in dem Beitrag die Entwicklung des Börsengeschehens dargestellt.Die Teilperioden sind:- Der Einfluß des Ersten Weltkrieges (1914-1918)- Die Inflationszeit (1919-1924)- Die scheinbare Rückkehr zur Normalität (1924-1929)- Der Einfluß der Weltwirtschaftskrise (1929-1933)- Die nationalsozialistische Wirtschaftspolitik (1933-1939)- Der Zweite Weltkrieg (1939-1945). Die Effektenbörsen wiesen in der Zeit von 1914 bis 1945 erhebliche Wandlungen auf, vor allem Beeinträchtigungen aufgrund außerwirtschaftlicher Rahmenbedingungen charakterisierten die Entwicklung. Krisenhafte Situationen traten dabei immer wieder wegen der starken Angebots- und Nachfrageänderungen auf, verbunden mit den entsprechenden Kursverlusten. Diese Situationen kennzeichnen die Börsenkrisen. Voraussetzung für Börsenkrisen war häufig eine Hausse-Spekulation, d.h. ein übermäßiges Ansteigen der Kurse. Die Vorgänge der übermäßigen Anstiege und Rückgänge der Kurse brachten Unruhe sowohl in die Effektenmärkte als auch in die wirtschaftliche Entwicklung, wobei es sich bei der Beeinflussung zwischen Effektenmärkten und Wirtschaft um eine Wechselwirkung handelt. Kriege und Wirtschaftskrisen wurden in erheblichem Maße durch Eingriffe des Gesetzgebers ergänzt, so daß auch das Börsengeschehen innerhalb der Länder als auch die internationalen Börsenbeziehungen erheblich beeinträchtigt wurden. Sollen die Änderungen quantitativ ermittelt werden, dann können im wesentlichen zwei statistische Reihen herangezogen werden:- Der Umsatz an den Börsen wird in der Entwicklung der Börsenumsatzsteuerzahlungen deutlich;- die Menge der vorhandenen und handelsfähigen Wertpapiere, aus der ersichtlich wird, in welchem Maße der Handel mit Effekten ausgedehnt werden konnte.Der Umfang des im Effektenhandel einsetzbaren Materials läßt auch Rückschlüsse auf den Kapitalbedarf der Wirtschaft und der öffentlichen Hand zu. Da sich die Steuersätze und Steuertatbestände in Zeitverlauf änderten, kann die Entwicklung der Erträge der Börsenumsatzsteuer nur ein Indiz neben anderen für die Entwicklung des Wertpapiergeschäfts sein. Auch muß berücksichtigt werden, dass Zahlenangaben für die Inflationszeit nicht zum Vergleich herangezogen werden können. Als Quellen hat der Wissenschaftler wissenschaftliche Publikationen sowie die öffentliche Statistik herangezogen. Die von Henning erhobenen Datentabellen sind im Recherche- und Downloadsystem HISTAT zugänglich (Thema: Geld und Währung, Finanzsektor): A. Der Umfang des WertpapierhandelsA.1 Entwicklung der Börsenumsatzsteuereinnahmen in Mill. M/RM (1910-1944).A.2 Der Umlauf von Wertpapieren inländischer Emittenten in Mrd. M/RM (1910-1944). B. Die scheinbare Rückkehr zur Normalität nach der Inflationszeit B.1 Monatsdurchschnitte der Aktienkurse, Monatsdaten, Index: 1924 bis 1926=100 (1925-1929).B.2 Monatliche Obligationenkurse in Prozent des Nennwertes, Monatsdaten,(1925-1929).B.3 Zahl der an der Börse in Breslau für den Effektenhandel zugelassenen Firmen und Makler (1850-1931/32). C. Der Einfluß der Wirtschaftskrise C.1 Monatliche Aktienkurse, Monatsdaten, Index:1924 bis 1926=100 (1930-1934).C.2 Monatliche Obligationenkurse in Prozent des Nennwertes, Monatsdaten,(1930-1934). D. Der Einfluß der nationalsozialistischen Wirtschaftspolitik und die Effektenbörse im 2. Weltkrieg D.1 Börsenkurse der Aktien der Rütgerswerke-AG in Berlin (1933-1937).D.2 Index der Aktienkurse, Index:1924 bis 1926=100 (1924-1943). The Study’s subject:The investigator’s aim is to determine the volume of stock trade. A sample of papers consisting of shares, government’s bond issues, corporate bond issues, bonds of mortgage banks, bonds of so called ‘Landschaftsbanks’, bonds of annuity banks, and floated subscription rights is the focus of the investigation. With regard to the periods of German history the development of the stock market is described. The periods are:- the influence of the First World War 1914 to 1918 on the stock market- the period of inflation 1919 to 1924- apparent return of normality 1924 to 1929- the influence of world economic crisis 1929 to 1933- the Nazi Socialist economic policy 1933 to 1939- finally, the Second World War 1939 to 1945. Important comment on the data:Taxes and the system of taxes have changed over time under investigation. Therefore, the development of stock exchange turnover tax is only one indication among others for the development of securities transactions. Furthermore, it has to be taken into account, that the reported values for the period of inflation cannot be used for comparisons with other periods. Data-Tables in HISTAT (subject: money and currency, financial sector, in German: Thema: Geld und Währung, Finanzsektor): A. Volume of Stock Trade in GermanyA.1 Development of stock exchange turnover tax in millions of M/RM (1910-1944).A.2 Circulation of securities of domestic issuers in Billions of M/RM (1910-1944). B. Apparent return of normality after the period of inflation B.1 monthly averages of share prices (monthly statistics, index: 1924 to 1926 = 100, (1925-1929)).B.2 Monthly bonds prices in percent of the nominal value (monthly statistics, (1925-1929)).B.3 Stock market in Breslau: Firms and brokers authorized for stock trading (1850-1931/32). C. Influence of economic crisis C.1 Monthly share prices (monthly statistics, index: 1924 to 1926=100 (1930-1934)).C.2 Monthly bonds prices in percent of the nominal value (monthly statistics, (1930-1934)). D. Influence of Nazi Socialist economic policy and stock exchange during World War IID.1 Share prices of the company ‚Rütgerswerke-AG’ in Berlin (1933-1937).D.2 Index of share prices, index: 1924 to 1926=100 (1924-1943).

Comprehensive collection of financial reports and documents for Rentokil Initial PLC (RTO)