Eder was refreshed after his leave and returned to Bucharest in early summer.

Back in the capital, Eder immediately got to work, and he didn't rush the infrastructure plan he had asked the government to make. And after he returned to the capital, the huge sum of 900 million dollars in Romania had also been transferred back to the country, and Eder, who was in the bag, had nothing to worry about.

The days passed slowly, until one day in September, when a guard hurried in while he was busy.

"Your Majesty, this is a telegram from the United States."

As soon as Eder heard that it was a telegram from the United States, he immediately took it and read it. There is nothing else in this telegram, only news about the US stock market. In just a few sentences, on September 5, the New York stock market fell 46 points, trading 13 million lots of shares throughout the day.

Don't think this decline is not high, you must know that the current Wall Street stock market is only 391 points at the end of the previous day. That's a drop of almost 12% in one day, causing a panic in the market. It happened to be a Thursday, so it was also called Black Thursday.

"Is this the beginning of the Great Depression?"

Edel was a little confused.

As Eder pondered, the entire United States was also shocked by the collapse of the stock market. Among them, the White House made a speech on the decline of the stock market in New York, and the new President Hoover declared that the US economy is now normal, and the economic structure is working well.

Mellon, who is the Minister of Finance, also said to the newspaper in a high-profile manner. There is no reason to worry now, and this boom will continue.

However, the speeches of senior White House officials do not seem to have boosted the confidence of the stock market. The next day, the U.S. stock market continued to fall after the market opened, although the decline was higher than the previous day, and its momentum was unstoppable, and the Wall Street stock market fell another 51 points on the same day, having fallen below the 300-point mark. This made the market wail, and many people lost a lot of money.

The fall in the Wall Street stock market has caused people to lose a lot, and at this time, they especially hope that a hero will step up and save the market. The last hero who saved the city, Morgan was pinned on high hopes. And the newspapers are full of hopes that the king of Wall Street financial financing can save the falling stock market, and Morgan, who has high hopes, certainly hopes to save the stock market, and the hope of the people makes Morgan unable to refuse.

So in the case of people's thousands of calls, Wall Street capital, represented by Morgan, chose to save the day. Because if the financial markets were to fall into a depression, the income of the capitalists on Wall Street would also plummet. As for later generations, some people said that this stock market crash has the shadow of Wall Street, which is pure fart. The stock market crash is worse than good for Wall Street, and it is not normal if it is not saved.

However, they also underestimated the power of this stock market decline, and the billions of capital they carried were drowned by the surging wave of decline without even seeing a wave. At this point, the momentum of the stock market plunge can no longer be stopped, and no one can say when the decline will end.

The decline in the stock market has mixed many losses, and many people have invested their entire net worth in the previously prosperous stock market. This wave of decline has left them destitute, and many people can't stand the huge blow and choose to end their lives. During that time, many pedestrians in New York were afraid to approach high-rise hotels and other buildings, and a figure might fall from above and end his life with a loud bang. According to statistics, during this period, an average of 1,000 people in New York took their lives every month by shooting, jumping off buildings, jumping into rivers, etc.

The Manhattan Bridge and the Brooklyn Bridge have become suicide meccas, and many people who have been destitute in the stock market decline have jumped into the sea from here wearing only decent clothes.

The decline in the stock market also quickly affected the economy, and many companies lost a lot of money in the stock market decline. These are all fascinated by the booming stock market, misappropriating company funds into the stock market in an attempt to make a profit. But they, like the housewives, have lost a lot of money in the stock market downturn, and their own businesses have been in trouble. Layoffs and closures have also become the norm for American companies during this period.

In just two weeks since the Sept. 5 crash began, $30 billion in wealth has disappeared. At this time, the GDP of the United States was only 103.6 billion US dollars, which can be said to have caused the United States to lose 30% of its GDP in two weeks. It wasn't until the outbreak of World War II that U.S. GDP returned to pre-Depression levels.

The main reason for this is the imbalance of the domestic economy and overproduction in the United States.

From 1920 to 1929, workers' hourly wages rose by only 2 percent, while the productivity of workers in factories soared by 55 percent. At the same time, peasants' real incomes are also declining due to the continuous decline in the prices of agricultural products and the rising taxes and living expenses. In 1910, the income of each farm worker was less than 40 per cent of that of a non-farm worker, and by 1930 it was less than 30 per cent. This poverty in the countryside was a serious problem, since at that time the agricultural population accounted for one fifth of the total population.

In the twenties, there were already a number of trends that were ignored or ignored at the time to the detriment of economic development. Agriculture, on the other hand, never fully recovered from the post-war depression, and the peasants remained impoverished during this period. In addition, the so-called high levels of wages in the industrial sector are many of them false. During this decade, the application of new machines squeezed out a large number of workers.

For example, in 1920-1929, the total value of industrial output increased by almost 50 per cent, while the number of industrial workers did not increase, and the number of workers in the transport sector actually decreased. The largest increase in workers was in the service sector, where wages were low, and that undoubtedly included many skilled workers who lost their jobs as a result of technological advances. Thus, the statistics that indicate a slight increase in wages do not appear to reflect the true picture. Since the masses of workers and peasants are the basic consumers, the economic difficulties encountered by these two groups of people will certainly have an impact on the consumer goods market.

In these cases, the expansion of advertising and the increase in installment credit in the twenties had undesirable consequences. Installment sales on credit are trying to expand the consumer goods market.

Between 1924 and 1929, installment sales increased from about $2 billion to $3.5 billion, an astonishing increase in growth. Needless to say, the use of installment credit sales has increased sales of durable consumer goods such as cars, radios, furniture, and household appliances.

However, the widespread use of the instalment method also indicates the fact that the consumer goods market cannot accommodate the large quantities of products produced in the industrial sector without increasing loans. Moreover, from an economic point of view, there is a certain danger inherent in this type of loan cancellation; As long as consumer credit is cut, i.e., installment sales are on credit, consumer purchases are likely to decrease.

In addition, a large amount of capital poured into the United States, which also contributed to this situation. In the 20s of the 20th century, money flowed into the United States in a steady stream as many countries paid war debts; Between 1913 and 1924, gold reserves in the United States increased from $1.924 billion to $4.499 billion, or half of the world's total gold reserves.

And this influx of money can not find other investment environment, can only be invested in the stock market. The acceleration has boosted the stock market boom, which has led to a mountain of industrial production in the United States, but the stock market has been so prosperous that it is no wonder that there is no problem.

Of course, let the U.S. stock market explode early, and Romania's early withdrawal also has a certain impact. The withdrawal of $900 million will inevitably affect the stock market. But for Eder, he doesn't care whether the American people live or die. It's inevitable anyway, so it's important to save yourself first.