I CERTAINLY agree with Mr B Appleton’s letter “Why were lessons not learnt after the 1929 crash?” (November 8).

I, along with my classmates, did an article on the Wall Street crash, 45 years ago for a history lesson.

I found a book with all the facts leading up to the crash. The article was titled: “The Collapse of Wall Street”, and here is the article.

“America boomed soon after the end of the First World War, and by 1925, 20,000 new factories were built exporting 525 million cars. Wall St stocks and shares were bought and sold, yielding a 70 per cent gain by 1927. Even after that huge gain, three billion dollars of stocks became nearly nine billion dollars towards 1929.

Then on September 4, 1929, Wall St began to falter, recovering slightly on October 12. It was touch and go. The situation became very bad on October 19 and 21, finally crashing on October 24. This heralded the beginning of the decline of world wide trading.” End of lesson.

At the time I wouldn’t have thought that another Wall St crash could happen in modern times, but yes, lessons were not learnt. Like my domino towers , they teetered and collapsed. The Capitalist speculation should not have made that amount of money in the first place, causing years of misery and the Second World War. I was proved wrong. History DOES repeat itself.

B Howarth Alexandria Drive Westhoughton