1618 Sir Walter Raleigh, English seafarer, courtier, writer and once a favourite of Queen Elizabeth I (he named Virginia after her) was beheaded at Whitehall. He had been falsely accused of treason and sentenced to death, commuted to imprisonment. He was released after 13 years to try and find the legendary gold of El Dorado. He failed, and returned to an undeserved fate.
1679 The Meal-Tub Plot, a Catholic scheme to falsely implicate Presbyterians in a conspiracy against James, Duke of York, the future James II of England, is exposed by the discovery of forged evidence hidden in a meal tub.
1682 William Penn lands at what is now Chester, Pennsylvania.
On 29th October 1794, Benjamin Llewelyn was appointed lighthouse keeper of the newly constructed Mumbles Lighthouse.
The Harbour Act of 1791 had allowed for the construction of the lighthouse, which was originally lit by two open-fire braziers. In 1798, these were replaced by a revolving light made up of twelve oil-powered lamps fitted with reflectors, to which a dioptric lens was added in 1860, which greatly magnified the light. In 1935, the lighthouse was converted to an automatic electric control system, which resulted in the lighthouse keeper being no longer required.
.. On October 29th 1929, the 'Wall Street Crash' in New York, resulted in the Great Depression.
16 million shares were sold on the stock market in Wall Street and the economy collapsed completely. ..
1983 Yachtsman Chay Blyth had to cancel his plans to create a new world clipper record when his trimaran capsized 500 miles east of New York.
1967 Morning. Acanthus Road, Clapham, Battersea, London. Shooting of 'Magical Mystery Tour' sequence, on which Ringo and Auntie Jessie go up a street to board the 'Magical Mystery Tour' bus.
29 Oct 1963 The Everly Brothers, Little Richard, Bo Diddley, Mickie Most, The Rolling Stones, Julie Grant and The Flintstones all appeared at The Goumont Theatre, St Albans, England.
29 Oct 1962 The Beatles made their second appearance on the Granada TV program ‘People and Places.’ Filmed in Manchester, they performed two songs, 'Love Me Do' and ‘A Taste of Honey’.
I've never understood why a stock market crash should have such a dramatic effect on the economy. It's not as if any actual goods have disappeared nor have the workers or factories or land gone anywhere.
It seems to me that such a crash should be a matter that concerns only the people who own the shares.
@ninalanyon It puzzles me too. I can see it preventing investment in new physical assets if that was the purpose of the shares issue, but that would affect either building something new or expanding.
The Stock Markets of the world do have genuine investors such as pension-funds and insurers who want long-term stability and profitability in the companies in which they invest, but those are surrounded by ignorami driven by greed and panic, and mere gamblers like hedge-fund managers, venture-capitalists and futures-traders of little or no real value or benefit to any company or country.
Basically I think a crash is brought about by overweening greed by people who likely know nothing about the trades and industries in which they "invest". It can also occurr when something new comes along and is seen as The Thing in which to invest. As with the South Sea Bubble.
