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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.
Downtown Huntington, West Virginia, during the Great Flood of 1937. The Ohio River flood of 1937 took place in late January and February 1937. With damage stretching from Pittsburgh, Pennsylvania, to Cairo, Illinois, 385 people died, one million people were left homeless and property losses reached $500 million ($10.2 billion when adjusted for inflation as of September 2022).
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.
Oklahoma City was a good place to be the past two years for anyone looking to wait out the recession. So were Minneapolis, Minn., and Buffalo and Rochester, N.Y. Oklahoma's capital had an ...
When Queen Elizabeth II of England asks a question, she gets answers.During a visit to the London School of Economics in November, the queen asked "How come nobody could forsee it? -- meaning ...
Taxpayers, small business and the middle class voted for Roosevelt in 1936 but turned sharply against him after the recession of 1937-38 seemed to belie his promises of recovery. Roosevelt's New Deal Coalition discovered an entirely new use for city machines in his three reelection campaigns of the New Deal and the Second World War ...
From a 1939 flood that killed 79 people, to a 1997 flood that affected 50,000 homes in just one city, here are some of the past major flooding events in Kentucky.
A small economic expansion within the depression began in 1933, with gold inflow expanding the money supply and improving expectations; the expansion would end in 1937. The ultimate recovery, which would occur with the start of World War II in 1940, was credited to monetary policy and monetary expansion. [57] Recession of 1937–1938: May 1937 –