Business+and+Economy-1

Fueled by easy money the nineteen-twenties were boom times like never before. The post-war recession was forgotten as everyone went on a spending spree. Credit, and not savings, enabled consumers to boost corporate profits to new levels.

T he 1920's saw new discoveries and inventions in nearly every field of endeavor that became the foundation of thriving businesses. Patent attorneys did a roaring trade and nearly every man fancied himself as an inventor if the number of [|patent submissions] was anything to go by.

The Share Market climbed to very high as speculators bought on margin while the general public joined in looking for easy profits. Shares could be purchased for a down-payment of 10%, the remainder of the price being financed by a loan from the share broker. When stock prices eventually slumped many investors had to sell shares to meet "margin calls" forcing share prices to drop further, helping the problem and leading to the Share Market crash of October and November 1929.