The Smoot-Hawley Tariff Act

Speaker 10:00

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Lindsay Graham· Host0:28

[instrumental music] It's the morning of October 29th, 1929 on Wall Street in Lower Manhattan. Reporter Jonathan Leonard makes his way along the crowded sidewalks outside the New York Stock Exchange. He's been covering the stock market long enough to see its mood swing from exuberance to anxiety, but he's rarely witnessed anything like what he saw yesterday. On October 28th, the stock market took a dive, with panic selling dominating the trading floor. Over nine million shares changed hands as major stocks plunged in value. Now Jonathan wants to see if the crisis is passing or getting worse. Clutching his notebook, Jonathan pushes open the doors to the exchange, and immediately a wall of sound hits him. Traders yelling, papers flying, and the endless metallic jangle of the stock ticker machines. On the floor, men shove their way through the crowd,