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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.
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 ...
By 1939, the effects of the 1937 recession had disappeared. Employment in the private sector recovered to the level of the 1936 and continued to increase until the war came and manufacturing employment leaped from 11 million in 1940 to 18 million in 1943. [73] Another response to the 1937 deepening of the Great Depression had more tangible results.
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 ...
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 –
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The recession of 1937–1938, which slowed down economic recovery from the Great Depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 were first steps to a restoration of the pre-1933 policy regime.