Book Review - SIX DAYS IN OCTOBER

Book Review – SIX DAYS IN OCTOBER: THE STOCK MARKET CRASH OF 1929: A WALL STREET JOURNAL BOOK FOR CHILDREN

1.       BIBLIOGRAPHY

Blumenthal, Karen.   SIX DAYS IN OCTOBER: THE STOCK MARKET CRASH OF 1929: A WALL STREET JOURNAL BOOK FOR CHILDREN. New York, NY: Atheneum Books for Young Readers, 2002.  ISBN 978-0689842764

2.       PLOT SUMMARY

This book delves into the stock market mania of the 1920’s, which culminated in the crash of 1929.  It covers all the major corporate players, the individuals enticed into placing all of their savings into the market, and the government response to the situation.  After setting the stage, it goes day by day and describes the reaction as the stock market goes down, up slightly, and then nose-dives off the cliff.  Efforts by the banks and government to reverse the situation are described and it tells how some in power shamelessly tried to profit from the terrible situation of their own making.  There is also an epilogue that describes what eventually happens to the personalities and markets that defined the era.  The book finishes with a list of sources, picture credits, acknowledgements, and an index.

3.       CRITICAL ANALYSIS

I read this book with an eye toward finding parallels between what happened in 1929 versus what happened just a few short years ago.  The pictures and cartoons of the era were very interesting and gave a unique view into events of the day.  The anecdotes, misdeeds, and personal stories of the corporate players and Hollywood actors such as Groucho Marx were also enlightening.  The writing style and explanation of stock market terms were perfect for the middle school age student audience.  The book was an entertaining and engaging read.  I was disappointed by two things in the book, however.  First, the book repeats several times that the stock-market crash of 1929 did not start the Great Depression.   It says “what it did do was slash the wealth of the richest” (Blumenthal, 131).  This does not square with the first part of the book where it explains how a great number of average Americans were sucked into playing the market with promises of great wealth, and suffered devastating losses.  This kind of large event shook the confidence of all Americans in the stock market and the worth of businesses across the nation.  It did not single handedly cause the depression, but it did contribute greatly.  To quote the book, “After the crash, American life would never be the same” (Blumenthal, 134). The second disappointment was the book did not delve into the government response much at all, such as the Glass-Steagall Act of 1933.  Did it help or hurt and why?  The book does not say.

4.       REVIEW EXCERPTS

Reviewed in BOOKLIST: “A Wall Street Journal bureau chief, Blumenthal combines a fascinating overview of the infamous stock market crash in 1929 with a rare and useful primer of financial basics.”

Reviewed in PUBLISHER’S WEEKLY: “This fast-paced, gripping (and all-too-timely) account of the market crash of October 1929 puts a human face on the crisis.  A compelling portrait of a defining moment in American history.”

Robert Sibert Honor Book

5.       CONNECTIONS

Another great book by Karen Blumenthal for middle school readers:

Blumenthal, Karen.  LET ME PLAY: THE STORY OF TITLE IX: THE LAW THAT CHANGED THE FUTURE OF GIRLS IN AMERICA. 978-0689859571

This book would be an excellent introduction to the stock market, and would complement the study of U.S. History in the 1920’s.

Here is Karen Blumenthal’s Official Publisher Page.