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Credit is essentialy a loan given that is paid back with interest. Arguably, credit caused the Great Depression. Many Americans invested in the stock market with credit when they did not have the money, so when a recession in the stock market occurred, many stockholders were in huge debt. Banks that lended money were out of money, and depositors lost money. This caused homes to foreclose, and because of the decrease in consumer purchasing power (people were in debt), companies laid off workers and unemployment rose.
French Franc was the currency during WW1 until 2002
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His vision gave way to “Levittowns,” which began popping up throughout the United States. Such growth led to the Interstate Highway Act of 1956, in which the government allocated 26 billion dollars to build a national freeway system
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Cotton was grown specifically for the purpose to be sold
