In early public assistance programs African Americans often received substantially less aid than whites, and some charitable organizations even excluded blacks from their soup kitchens.
Flexible exchange rates gave policy-makers the freedom to use devaluation as an aid to recovery. His priority was to protect companies that paid high wages from competition from cheap imported goods Vedder and Gallaway, This petition was presented to Congress in support of a bill, sponsored by the arch-segregationist Senator Theodore Bilbo of Mississippi, that provided for the voluntary emigration of blacks to Liberia and nearby areas of West Africa.
Read more below: Economic history: Sources of recovery Economic history The timing and severity of the Great Depression varied substantially across countries. Company profits, which had been 10 per cent of GNP inwere negative in and also during the following year.
The Communist Party, very active in attempting to address the problems and difficulties spawned by the Great Depression, continued its efforts to speak out against racial injustice and woo African Americans. Nevertheless, the US balance of payments remained in surplus. Such was the pressure that Northern Rock was nationalized in February He was familiar with the current literature on business cycles and was not a man to stand aside and watch as recession accelerated into depression Bernstein, A comparison of the catastrophic banking crisis in with that of —8 shows that the countries involved in accounted for