President Herbert Hoover urged patience and foresaw the US economy returning to its recent prosperity. Above all he refused to let the state intervene in the crisis. His personal homespun recommendation consisted of two words: what were they?

Wall Street was the center of finance in the USA but when the New York Stock Exchange spiraled out of control in October 1929, investors saw the price of shares crash to new lows and many small investors were ruined. The immediate effects included bank closures, reduced production and factory closures - leading to a massive rise in unemployment and the start of the Great Depression.