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When President Franklin D. Roosevelt took office in March 1933, the United States was in the midst of the Great Depression. [8] "Farmers faced the most severe economic situation and lowest agricultural prices since the 1890s." [8] "Overproduction and a shrinking international market had driven down agricultural prices."
The great depression of British agriculture occurred during the late nineteenth century and is usually dated from 1873 to 1896. [1] Contemporaneous with the global Long Depression, Britain's agricultural depression was caused by the dramatic fall in grain prices that followed the opening up of the American prairies to cultivation in the 1870s and the advent of cheap transportation with the ...
Agricultural land and revenue boomed during World War I, but fell during the Great Depression and the 1930s. [43] [verification needed] The agricultural land most affected by the Dust Bowl was 16 million acres (6.5 million hectares) of land in the Texas and Oklahoma panhandles. These 20 counties that the U.S. Department of Agriculture's Soil ...
Examining the causes of the Great Depression raises multiple issues: what factors set off the first downturn in 1929; what structural weaknesses and specific events turned it into a major depression; how the downturn spread from country to country; and why the economic recovery was so prolonged.
The Great Depression: An Inquiry into the Causes, Course, and Consequences of the Worldwide Depression of the Nineteen-Thirties, as Seen by Contemporaries and in Light of History (1986) Garraty, John A. Unemployment in History (1978) Garside, William R. Capitalism in Crisis: International Responses to the Great Depression (1993) Haberler ...
Wages for cotton pickers in the San Joaquin Valley were set by the Agricultural Labor Bureau, an employers' organization. [10] In 1929, the Great Depression lowered the demand for cotton and many marginal planters lost their assets to Bank of America and others who held the notes. The US government bailed the growers out in 1933, offering them ...
The Navajo Livestock Reduction was imposed by the United States government upon the Navajo Nation in the 1930s, during the Great Depression. The reduction of herds was justified by the government by stating that grazing areas were becoming eroded and had deteriorated due to too many animals. [1]
The term "The Great Depression" is most frequently attributed to British economist Lionel Robbins, whose 1934 book The Great Depression is credited with formalizing the phrase, [229] though Hoover is widely credited with popularizing the term, [229] [230] informally referring to the downturn as a depression, with such uses as "Economic ...