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A third of all banks failed. 1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted 67%, international trade collapsed by 65%, and deflation soared above 10%.
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in conclusion that's three ancients contributions that have been with us.
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It was by far "warm and wet growing seasons" that was the most important factor in terms of the South's economic development. Cotton and tobacco were the biggest exports.
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Many died of diseases brought by the Europeans. This was the main impact of these voyages in the very short term. Later, Columbus's voyages led to the domination of the area from Mexico south to Peru by the Spanish. This resulted in the destruction of the major native civilizations like the Incas and the Aztecs.
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