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The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933.
In 1937, the American economy unexpectedly fell, lasting through most of 1938. Production declined sharply, as did profits and employment. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938. [70] A contributing factor to the Recession of 1937 was a tightening of monetary policy by the Federal Reserve.
When Americans read the text of the German offer to Mexico, known as the Zimmermann Telegram, they saw an offer for Mexico to go to war with Germany against the United States, with German funding, with the promise of the return of the lost territories of Arizona, New Mexico, and Texas. On April 1, 1917, Wilson called for war, emphasizing that ...
1845–late 1846 recession — ~1 year ~2 years −5.9% — This recession was mild enough that it may have only been a slowdown in the growth cycle. One theory holds that this would have been a recession, except the United States began to gear up for the Mexican–American War, which began April 25, 1846. [16] 1847–1848 recession late 1847 ...
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It took Texas to make America swallow the idea of lucky New Year’s black-eyed peas. More than 85 years ago, in 1937, an East Texas promoter put the first national marketing campaign behind what ...
Hoover held the line against powerful political forces that sought to increase government spending after the Depression began for fully two and a half years. During the first two years of the Depression (1929 and 1930) Hoover actually achieved budget surpluses of about 0.8% of gross domestic product (GDP). In 1931, when the recession ...
Events from the year 1937 in the United States. Incumbents ... Texas, spinach growers erect ... Recession of 1937–1938 (1937–1938) Births. January