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Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers. By 1933, when the Great Depression reached its lowest point, some 15 million Americans were unemployed and nearly half the country’s banks had failed.
It was the "Second Great Awakening" that played a major role in increasing support for the abolitionist movement in the antebellum period, since this movement sought to expose the immoral and corrupt nature of slavery as an institution.