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Word Count: 1,711
To the extent that the depression was ushered by the stock market crash it was the crash in New York that was of consequence Kindleberger 95 the crash of 1929 affected every person job and the world Prices were dropping and no one could face losing their money The year 1926 started with the great flight to Florida With great land and beautiful scenery Florida retained a warmer winter climate that Chicago Minneapolis or New York Everyone from Al Capone to President Hoover either owned or vacationed in Miami Beach or the Florida Keys Hover spent his winter vacation with Manhattan banker Jeremiah Milbank upon his yacht in the Florida Keys With illegal gambling and secret parties this was to be the winter vacation that would not be exposed Al Capone owned a beach house in Miami from which he could conduct personal business and escape from the hassle of the law in Chicago Executives of Florida launched a dynamic campaign to evict Capone from his home in Miami Beach While driving on Biscayne Boulevard Capone was arrested and put away for Investigation In April 1926 the market stabilized and revived its advance Again in October there was another setback because a hurricane blew away the shadows of the Florida boom Lindbergh took the famous flight on May 20 1927 to Paris from Roosevelt field In the summer Henry ford was preparing to create the Model A The stock market prices went up day after day and month after month Only two months in 1927 failed to show an average increase The market had gained a faithful band of votaries who spread no attention for more heavenly matters It was the year that the seeds of the eventual disaster were sown Galbraith 9 In the winter months of 1928 the market started to rise by leaps On March 12 radio started to gain 18 points in the market but in June it dropped 23
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