They wanted to keep trade with china open. :)
The Great Depression was a period of unprecedented decline in economic activity. It is generally agreed to have occurred between 1929 and 1939. Although parts of the economy had begun to recover by 1936, high unemployment persisted until the Second World War.
<span>The 1920s witnessed an economic boom in the US (typified by Ford Motor cars, which made a car within the grasp of ordinary workers for the first time). Industrial output expanded very rapidly. Sales were often promoted through buying on credit. However, by early 1929, the steam had gone out of the economy and output was beginning to fall.The stock market had boomed to record levels. Price to earning ratios were above historical averages.The US Agricultural sector had been in recession for many more years<span>The UK economy had been experiencing deflation and high unemployment for much of the 1920s. This was mainly due to the cost of the first world war and attempting to rejoin the Gold standard at a pre world war 1 rate. This meant Sterling was overvalued causing lower exports and slower growth. The US tried to help the UK stay in the gold standard. That meant inflating the US economy, which contributed to the credit boom of the 1920s.
</span></span>During September and October a few firms posted disappointing results causing share prices to fall. On October 28th (Black Monday), the decline in prices turned into a crash has share prices fell 13%. Panic spread throughout the stock exchange as people sought to unload their shares. On Tuesday there was another collapse in prices known as 'Black Tuesday'. Although shares recovered a little in 1930, confidence had evaporated and problems spread to the rest of the financial system. Share prices would fall even more in 1932 as the depression deepened. By 1932, The stock market fell 89% from its September 1929 peak. It was at a level not seen since the nineteenth century.
<span>Falling share prices caused a collapse in confidence and consumer wealth. Spending fell and the decline in confidence precipitated a desire for savers to withdraw money from their banks.</span>
The Neolithic Era or the Stone Age
contributed greatly in the creation of civilizations for this was the period
where development in terms of agricultural practice, encouragement of
developing societies and cities took place. This was the time when men
started to domesticate plants and animals. This was somehow the transition from
the lifestyle of hunting and gathering to one of agriculture and settlement
which made way to the possibility of an increasing larger population during
that time. By doing so, they were able to produce more food which led to the
mastery of being artisans, merchants, government officials and other
professions needed to have civilization. It is said that for a civilization to
be considered legit, it must have cities, government, religion, social
structure, writing and art. And all these were evident and started during this
Period.
The U.S. Constitution and state constitutions allow for amendments. ... Most of them follow the form of the U.S. Constitution closely, leading to similarities between the documents .
