145-444: Latimer County is a county located in the southeastern part of the U.S. state of Oklahoma . Its county seat is Wilburton . As of the 2020 census , the population was 9,444. The county was created at statehood in 1907 and named for James L. Latimer, a delegate from Wilburton to the 1906 state Constitutional Convention. Prior to statehood, it had been for several decades part of Gaines County, Sugar Loaf County, and Wade County in
290-1054: A city , town , or village . A few counties directly provide public transportation themselves, usually in the form of a simple bus system. However, in most counties, public transportation is provided by one of the following: a special district that is coterminous with the county (but exists separately from the county government), a multi-county regional transit authority, or a state agency. In western and southern states, more populated counties provide many facilities, such as airports, convention centers , museums, recreation centers , beaches, harbors, zoos, clinics, law libraries , and public housing . They provide services such as child and family services, elder services, mental health services, welfare services, veterans assistance services, animal control , probation supervision, historic preservation, food safety regulation, and environmental health services. They have many additional officials like public defenders , arts commissioners, human rights commissioners, and planning commissioners. There may be
435-446: A consolidated city-county or independent city exists, a city council usually governs city/county or city affairs. In some counties, day-to-day operations are overseen by an elected county executive or by a chief administrative officer or county administrator who reports to the board, the mayor, or both. In many states, the board in charge of a county holds powers that transcend all three traditional branches of government. It has
580-626: A deflationary spiral started in 1931. Farmers faced a worse outlook; declining crop prices and a Great Plains drought crippled their economic outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance. At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better. For example,
725-418: A silver standard , almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries . This partly explains why the experience and length of the depression differed between regions and states around
870-698: A branch line from North McAlester to Wilburton in 1904. As a prelude to Oklahoma being admitted as a state to the Union, the Dawes Act was extended to the Choctaw and others of the Five Civilized Tribes . These had all been removed from the Southeast. Choctaw tribal control of communal lands was dissolved, and the lands were allotted to individual households of tribal members, in an effort to encourage subsistence farming on
1015-424: A county fire department and a county police department – as distinguished from fire and police departments operated by individual cities, special districts, or the state government. For example, Gwinnett County, Georgia , and its county seat, the city of Lawrenceville , each have their own police departments. (A separate county sheriff's department is responsible for security of the county courts and administration of
1160-460: A few counties bear names of Native American , French, or Spanish origin. Counties are most often named for people, often political figures or early settlers, with over 2,100 of the 3,144 total so named. The most common county name, with 31, is Washington County , for America's first president, George Washington . Up until 1871, there was a Washington County within the District of Columbia , but it
1305-588: A former privately run bank, bearing no relation to the U.S. government (not to be confused with the Federal Reserve ). Unable to pay out to all of its creditors, the bank failed. Among the 608 American banks that closed in November and December 1930, the Bank of United States accounted for a third of the total $ 550 million deposits lost and, with its closure, bank failures reached a critical mass. In an initial response to
1450-459: A greater reduction in credit. On 5 April 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates , coins and bullion illegal, reducing the pressure on Federal Reserve gold. British economist John Maynard Keynes argued in The General Theory of Employment, Interest and Money that lower aggregate expenditures in the economy contributed to
1595-508: A household in the county was $ 23,962, and the median income for a family was $ 29,661. Males had a median income of $ 27,449 versus $ 19,577 for females. The per capita income for the county was $ 12,842. About 19.00% of families and 22.70% of the population were below the poverty line , including 30.70% of those under age 18 and 16.40% of those age 65 or over. Despite the county being home to a significant Native American population, Latimer County voted Republican in every presidential election in
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#17328557187441740-400: A land area of 20,057 square miles (51,947 km ). The least extensive county is Kalawao County, Hawaii , with a land area of 11.991 square miles (31.058 km ). The least extensive county equivalent in the 50 states is the independent city of Falls Church, Virginia , with a land area of 1.999 square miles (5.177 km ). If U.S. territories are included,
1885-453: A large number of counties, and many Western states were sparsely populated when counties were created by their respective state legislatures. The five counties of Rhode Island and eight of the 14 counties of Massachusetts no longer have functional county governments, but continue to exist as legal and census entities. Connecticut abolished county governments in 1960, leaving its eight counties as mere legal and census entities. In 2022,
2030-882: A matter of U.S. state law , so the specific governmental powers of counties may vary widely between the states, with many providing some level of services to civil townships , municipalities , and unincorporated areas . Certain municipalities are in multiple counties ; New York City is uniquely partitioned into five counties, referred to at the city government level as boroughs . Some municipalities have been consolidated with their county government to form consolidated city-counties , or have been legally separated from counties altogether to form independent cities . Conversely, counties in Connecticut and Rhode Island , eight of Massachusetts's 14 counties , and Alaska's Unorganized Borough have no government power, existing only as geographic distinctions. The United States Census Bureau uses
2175-596: A modern industrial city handled shortages of money and resources. Often they updated strategies their mothers used when they were growing up in poor families. Cheap foods were used, such as soups, beans and noodles. They purchased the cheapest cuts of meat—sometimes even horse meat—and recycled the Sunday roast into sandwiches and soups. They sewed and patched clothing, traded with their neighbors for outgrown items, and made do with colder homes. New furniture and appliances were postponed until better days. Many women also worked outside
2320-402: A monetary contraction first-hand were forced to join the deflationary policy since higher interest rates in countries that performed a deflationary policy led to a gold outflow in countries with lower interest rates. Under the gold standard's price–specie flow mechanism , countries that lost gold but nevertheless wanted to maintain the gold standard had to permit their money supply to decrease and
2465-415: A population over 100,000; 137 counties have a population over 500,000; 45 counties have a population over 1,000,000; and 14 counties have a population over 2,000,000. At the other extreme, 35 counties have a population under 1,000; 307 counties have a population under 5,000; 709 counties have a population under 10,000; and 1,492 counties have a population between 10,000 and 50,000. At the 2000 U.S. Census ,
2610-401: A route through the territory, which included stage stops at Edwards's Station (near present Hughes), Holloway's Station (near Red Oak), Riddle's Station (near Lutie) and Pusley's Station near Higgins. The beginning of large-scale coal mining attracted railroad construction to the area to get the commodity to market. The chief coal mining areas were in the mountains in the north of the county, in
2755-563: A serious issue in the 1930s. Support for increasing welfare programs during the depression included a focus on women in the family. The Conseil Supérieur de la Natalité campaigned for provisions enacted in the Code de la Famille (1939) that increased state assistance to families with children and required employers to protect the jobs of fathers, even if they were immigrants. In rural and small-town areas, women expanded their operation of vegetable gardens to include as much food production as possible. In
2900-474: A small cadre of Labour, but the vast majority of Labour leaders denounced MacDonald as a traitor for leading the new government. Britain went off the gold standard , and suffered relatively less than other major countries in the Great Depression. In the 1931 British election, the Labour Party was virtually destroyed, leaving MacDonald as prime minister for a largely Conservative coalition. In most countries of
3045-699: A standstill agreement froze Germany's foreign liabilities for six months. Germany received emergency funding from private banks in New York as well as the Bank of International Settlements and the Bank of England. The funding only slowed the process. Industrial failures began in Germany, a major bank closed in July and a two-day holiday for all German banks was declared. Business failures were more frequent in July, and spread to Romania and Hungary. The crisis continued to get worse in Germany, bringing political upheaval that finally led to
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#17328557187443190-428: Is Lake . Words from Native American languages, as well as the names of Native American leaders and tribes, lend their names to many counties. Quite a few counties bear names of French or Spanish origin, such as Marquette County being named after French missionary Father Jacques Marquette . The county's equivalent in the state of Louisiana, the parish (Fr. paroisse civile and Sp. parroquia ) took its name during
3335-564: Is 343 sq mi (890 km ), whereas in Utah it is 2,427 sq mi (6,290 km ). The most extensive county or county equivalent is the Yukon–Koyukuk Census Area, Alaska , with a land area of 145,505 square miles (376,856 km ). All nine of the most extensive county equivalents are in Alaska. The most extensive county is San Bernardino County, California , with
3480-642: Is a consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse, by expanding the money supply and acting as lender of last resort . If they had done this, the economic downturn would have been far less severe and much shorter. Modern mainstream economists see the reasons in Insufficient spending, the money supply reduction, and debt on margin led to falling prices and further bankruptcies ( Irving Fisher 's debt deflation). The monetarist explanation
3625-434: Is an unusual case because it encompasses multiple entire counties in one city. Each of those counties is coextensive with one of the five boroughs of the city: Manhattan (New York County), The Bronx (Bronx County), Queens (Queens County), Brooklyn (Kings County), and Staten Island (Richmond County). Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period
3770-500: Is either done at the state level or at the municipal level. In Connecticut and parts of Massachusetts, regional councils have been established to partially fill the void left behind by the abolished county governments. The regional councils' authority is limited compared with a county government—they have authority only over infrastructure and land use planning, distribution of state and federal funds for infrastructure projects, emergency preparedness, and limited law enforcement duties. In
3915-399: Is greater than the populations of 41 U.S. states, and is only slightly smaller than the combined population of the 10 least populous states and Washington, D.C. It also makes the population of Los Angeles County 17.4 times greater than that of the least populous state, Wyoming. The second most populous county is Cook County, Illinois , with a population of 5,275,541. Cook County's population
4060-455: Is larger than that of 28 individual U.S. states and the combined populations of the six smallest states. The least populous county is Loving County, Texas , with 64 residents in 2020. Eight county equivalents in the U.S. territories have no human population: Rose Atoll , Northern Islands Municipality , Baker Island , Howland Island , Jarvis Island , Johnston Atoll , Kingman Reef , and Navassa Island . The remaining three islands in
4205-769: Is no formal level of government (municipality, public education, or otherwise) existing below that of the county in the state. In most Midwestern and Northeastern states, counties are further subdivided into townships or towns , which sometimes exercise local powers or administration. Throughout the United States, counties may contain other independent, self-governing municipalities . In New England, counties function at most as judicial court districts and sheriff's departments (presently, in Connecticut only as judicial court districts—and in Rhode Island , they have lost both those functions and most others but they are still used by
4350-410: Is rarely a county responsibility, execution of capital punishment is never a county responsibility, and the state's responses to prisoners' appeals are the responsibility of the state attorney general , who has to defend before the state appellate courts the prosecutions conducted by locally elected district attorneys in the name of the state. Furthermore, county-level trial court judges are officers of
4495-557: Is simultaneously a city, which is a municipality (municipal corporation), and a county, which is an administrative division of a state, having the powers and responsibilities of both types of entities. The city limit or jurisdiction is synonymous with the county line, as the two administrative entities become a non-dichotomous single entity. For this reason, a consolidated city-county is officially remarked as name of city – name of county (i.e., Augusta–Richmond County in Georgia). The same
Latimer County, Oklahoma - Misplaced Pages Continue
4640-493: Is supported by the contrast in how the crisis progressed in, e.g., Britain, Argentina and Brazil, all of which devalued their currencies early and returned to normal patterns of growth relatively rapidly and countries which stuck to the gold standard , such as France or Belgium. Frantic attempts by individual countries to shore up their economies through protectionist policies – such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries – exacerbated
4785-501: Is true of the boroughs of New York City , each of which is coextensive with a county of New York State. For those entities in which the city uses the same name as the county, city and county of name may be used (i.e., City and County of Denver in Colorado). Similarly, some of Alaska 's boroughs have merged with their principal cities, creating unified city-boroughs. Some such consolidations and mergers have created cities that rank among
4930-693: Is water. The Sans Bois Mountains span the northern border of the county, while the Winding Stair Mountains extend into its southern part. The Fourche Maline , Brazil and Sans Bois creeks drain the northern part of the county into the Poteau River , a tributary of the Arkansas River . Buffalo and Gaines Creeks drain the southern part into the Kiamichi River , a tributary of the Red River . As of
5075-523: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that
5220-583: The Alaska Constitutional Convention wanted to avoid the traditional county system and adopted their own unique model with different types of boroughs varying in powers and duties. In some states, these powers are partly or mostly devolved to the counties' smaller divisions usually called townships , though in New York, New England and Wisconsin they are called "towns". The county may or may not be able to override its townships on certain matters, depending on state law. The newest county in
5365-940: The Caddo Nation , a historic confederacy of tribes that flourished in east Texas, Arkansas and northern Louisiana before removal to another area of Indian Territory. In the 1970s excavations at the McCutchan-McLaughlin site revealed many details about the lives and deaths of the Fourche Maline culture people, who lived in this area in the Woodland Period , about 300 BCE to 800 CE. These hunter-gatherers were physically healthier than later descendants in more complex cultures who depended on maize agriculture, but they were also often beset by warfare. Numerous remains were found in mass graves, killed by arrows or spears. This archeological site continues to be studied and has been listed on
5510-516: The Choctaw Nation . This area was occupied for at least 3500 years by cultures of indigenous peoples. The most recent of the prehistoric peoples established complex earthworks during the Mississippian culture . Archeological excavations have revealed artifacts from Archaic , Woodland , and Mississippian cultures. Living in what is now southeastern Oklahoma, these peoples were direct ancestors of
5655-454: The City and County of Philadelphia, Pennsylvania ; City and County of San Francisco, California ; and Lynchburg-Moore County, Tennessee A consolidated city-county may still contain independent municipalities maintaining some governmental powers that did not merge with the rest of the county. For example, the government of Jacksonville–Duval County, Florida , still provides county-level services to
5800-597: The Mid-Atlantic and Midwest , counties typically provide, at a minimum, courts, public utilities , libraries, hospitals, public health services, parks, roads, law enforcement, and jails. There is usually a county registrar, recorder, or clerk (the exact title varies) who collects vital statistics , holds elections (sometimes in coordination with a separate elections office or commission), and prepares or processes certificates of births, deaths, marriages, and dissolutions (divorce decrees). The county recorder normally maintains
5945-801: The National Register of Historic Places . In 1831, the area now known as Latimer County was organized as part of the Choctaw Nation in the Indian Territory after the Choctaw were removed by the federal government from their traditional territory in the American Southeast. Following statehood Latimer County's boundaries were drawn to conform to Oklahoma's township and range system, which uses east–west and north–south lines as land boundaries. The Choctaw Nation, by contrast, divided its counties using easily recognizable landmarks, such as mountains and rivers. The territory of present-day Latimer County had
Latimer County, Oklahoma - Misplaced Pages Continue
6090-565: The New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of
6235-552: The New York City Borough of Manhattan), with 72,033 persons per square mile (27,812 persons/km ) in 2015. The Yukon–Koyukuk Census Area, Alaska , is both the most extensive and the least densely populated county or county equivalent with 0.0380 persons per square mile (0.0147 persons/km ) in 2015. In the 50 states (plus the District of Columbia), a total of 981 counties have a population over 50,000; 592 counties have
6380-559: The Province of Maine founded York County . Massachusetts followed in 1643. Pennsylvania and New York delegated significant power and responsibility from the colony government to county governments and thereby established a pattern for most of the United States, although counties remained relatively weak in New England . When independence came, the framers of the Constitution left
6525-437: The U.S. Minor Outlying Islands ( Midway Atoll , Palmyra Atoll and Wake Island ) have small non-permanent human populations. The county equivalent with the smallest non-zero population counted in the census is Swains Island, American Samoa (17 people), although since 2008 this population has not been permanent either. The most densely populated county or county equivalent is New York County, New York (coextensive with
6670-569: The USGS counts Guam's election districts (villages) as county equivalents. The U.S. Census Bureau counts the 3 main islands in the U.S. Virgin Islands as county equivalents, while the USGS counts the districts of the U.S. Virgin Islands (of which there are 2) as county equivalents. Common sources of county names are names of people, geographic features, places in other states or countries, and animals. Quite
6815-545: The United States , a county or county equivalent is an administrative or political subdivision of a U.S. state or other territories of the United States which consists of a geographic area with specific boundaries and usually some level of governmental authority. The term " county " is used in 48 states, while Louisiana and Alaska have functionally equivalent subdivisions called parishes and boroughs , respectively. Counties and other local governments exist as
6960-671: The United States Census Bureau and some other federal agencies for some federal functions), and most of the governmental authority below the state level is in the hands of towns and cities . In several of Maine's sparsely populated counties, small towns rely on the county for law enforcement, and in New Hampshire several social programs are administered at the state level. In Connecticut, Rhode Island, and parts of Massachusetts, counties are now only geographic designations, and they do not have any governmental powers. All government
7105-505: The census of 2000, there were 10,692 people, 3,951 households, and 2,868 families residing in the county. The population density was 15 people per square mile (5.8 people/km). There were 4,709 housing units at an average density of 6 units per square mile (2.3/km). The racial makeup of the county was 73.01% White , 0.96% Black or African American , 19.42% Native American , 0.18% Asian , 0.01% Pacific Islander , 0.51% from other races , and 5.91% from two or more races. 1.53% of
7250-525: The coming to power of Hitler's Nazi regime in January 1933. The world financial crisis now began to overwhelm Britain; investors around the world started withdrawing their gold from London at the rate of £2.5 million per day. Credits of £25 million each from the Bank of France and the Federal Reserve Bank of New York and an issue of £15 million fiduciary note slowed, but did not reverse,
7395-466: The county seat ("parish seat" in Louisiana, "borough seat" in Alaska, or " shire town " in several New England counties). The county seat usually resides in a municipality. However, some counties may have multiple seats or no seat. In some counties with no incorporated municipalities, a large settlement may serve as the county seat. The power of county governments varies widely from state to state, as does
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#17328557187447540-473: The median land area of U.S. counties was 622 sq mi (1,610 km ), which is two-thirds of the median land area of a ceremonial county of England , and a little more than a quarter of the median land area of a French département . Counties in the western United States typically have a much larger land area than those in the eastern United States. For example, the median land area of counties in Georgia
7685-447: The 1937 recession that interrupted it). The common view among most economists is that Roosevelt's New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Some economists have also called attention to the positive effects from expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended. It
7830-462: The 21st century. Following the lead of most rural counties nationwide, the Republican candidate has won at least 60% of the vote in the county since 2008, with Donald Trump topping out at 80.9% in 2020. Coal mining was the basis of the county economy even before statehood, with mines operating by 1895. By 1912, The county 27 mines and about three thousand miners producing 3,000 tons per day. However,
7975-451: The 50 states and District of Columbia. There are an additional 100 county equivalents in the territories of the United States . The average number of counties per state is 62, with a range from the three counties of Delaware to the 254 counties of Texas . Southern and Midwestern states generally tend to have more counties than Western or Northeastern states, as many Northeastern states are not large enough in area to warrant
8120-454: The 50 states and the District of Columbia. If the 100 county equivalents in the U.S. territories are counted, then the total is 3,244 counties and county-equivalents in the United States. The idea of counties originated with the counties of England . English (after 1707, British ) colonists brought to their colonies in North America a political subdivision that they already used in
8265-973: The British metropole : the counties. Counties were among the earliest units of local government established in the Thirteen Colonies that would become the United States. Virginia created the first counties in order to ease the administrative workload in Jamestown . The House of Burgesses divided the colony first into four "incorporations" in 1617 and finally into eight shires (or counties) in 1634: James City , Henrico , Charles City , Charles River , Warrosquyoake , Accomac , Elizabeth City , and Warwick River . America's oldest intact county court records can be found at Eastville, Virginia , in Northampton (originally Accomac) County , dating to 1632. Maryland established its first county, St. Mary's in 1637. In 1639,
8410-745: The British crisis. The financial crisis now caused a major political crisis in Britain in August 1931. With deficits mounting, the bankers demanded a balanced budget; the divided cabinet of Prime Minister Ramsay MacDonald's Labour government agreed; it proposed to raise taxes, cut spending, and most controversially, to cut unemployment benefits 20%. The attack on welfare was unacceptable to the Labour movement. MacDonald wanted to resign, but King George V insisted he remain and form an all-party coalition " National Government ". The Conservative and Liberals parties signed on, along with
8555-643: The Choctaw Segregated Coal Lands. Coal mining companies were rapidly established in the late 19th and early 20th centuries. In 1889–90, the Choctaw Coal and Railway Company (later known as the Choctaw, Oklahoma and Gulf Railroad , and still later as part of the Chicago, Rock Island and Pacific Railway ) laid 67.4 miles of track from Wister to McAlester . The Missouri, Kansas and Texas Railway (Katy) completed
8700-517: The Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts. During World War I many countries suspended their gold standard in varying ways. There was high inflation from WWI, and in the 1920s in the Weimar Republic , Austria , and throughout Europe. In the late 1920s there
8845-514: The Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, consumers, many of whom suffered severe losses in the stock market the previous year, cut expenditures by 10%. In addition, beginning in
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#17328557187448990-492: The European-American model. The Choctaw lost most of their land, with individuals retaining about one-quarter of the land in the county. The government declared any remaining land to be 'surplus;' it was sold, mostly to non-Natives. Tribal governments were also dissolved, and Oklahoma became a state. McGirt v. Oklahoma, 591 U.S. ___ (2020), was a landmark[1][2] United States Supreme Court case which ruled that, as pertaining to
9135-480: The Federal Reserve did not act to limit the decline of the money supply was the gold standard . At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act , which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit
9280-442: The Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today there is also significant academic support for the debt deflation theory and the expectations hypothesis that – building on the monetary explanation of Milton Friedman and Anna Schwartz – add non-monetary explanations. There
9425-639: The Great Depression. According to the U.S. Senate website, the Smoot–Hawley Tariff Act is among the most catastrophic acts in congressional history. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. Most historians and economists blame the Act for worsening the depression by seriously reducing international trade and causing retaliatory tariffs in other countries. While foreign trade
9570-643: The Major Crimes Act, much of the eastern portion of the state of Oklahoma remains as Native American lands of the prior Indian reservations of the Five Civilized Tribes, never disestablished by Congress as part of the Oklahoma Enabling Act of 1906. As such, prosecution of crimes by Native Americans on these lands falls into the jurisdiction of the tribal courts and federal judiciary under the Major Crimes Act, rather than Oklahoma's courts. By 1912,
9715-473: The New Deal prolonged the Great Depression, as they argue that National Industrial Recovery Act of 1933 and National Labor Relations Act of 1935 restricted competition and established price fixing. John Maynard Keynes did not think that the New Deal under Roosevelt single-handedly ended the Great Depression: "It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on
9860-572: The Oklahoma School of Mines and Metallurgy at Wilburton, placed centrally within the southeastern Oklahoma mining district. In 2000, as Eastern Oklahoma State College , the school was a two-year, liberal-arts institution. The following sites in Latimer County are listed on the National Register of Historic Places : 34°52′N 95°14′W / 34.87°N 95.24°W / 34.87; -95.24 County (United States) In
10005-540: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This
10150-644: The U.S. Census Bureau began to also count Connecticut's Councils of Governments , which took over some of the regional powers from the state's former county governments, as county equivalents. Territories of the United States do not have counties; instead, the United States Census Bureau also divides them into county equivalents. The U.S. Census Bureau counts American Samoa 's districts and atolls as county equivalents. American Samoa locally has places called "counties", but these entities are considered to be " minor civil divisions " (not true counties) by
10295-473: The U.S. Census Bureau recognized the state's nine Councils of Governments as replacement for the state's eight legacy counties for all statistical purposes; full implementation was completed in 2024. The average U.S. county population was 104,435 in 2019, while the median county, which is Nicholas County, West Virginia , had a population of 25,965 in 2019. The most populous county is Los Angeles County, California , with 10,014,009 residents in 2020. This number
10440-475: The U.S. Census Bureau treats American Samoa's three districts and two atolls as county equivalents). American Samoa's counties are treated as minor civil divisions. Most territories are directly divided into municipalities or similar units, which are treated as equivalent of counties for statistical purposes: The U.S. Census Bureau counts all of Guam as one county equivalent (with the FIPS code 66010), while
10585-683: The U.S. Census Bureau. The number of counties per state ranges from the three counties of Delaware to the 254 counties of Texas . County populations also vary widely: in 2017, according to the Census Bureau, more than half the U.S. population was concentrated in just 143 of the more than 3,000 counties, or just 4.6% of all counties; the five most populous counties, ordered from most to least, are Los Angeles County, California ; Cook County, Illinois ; Harris County, Texas ; Maricopa County, Arizona ; and San Diego County, California . As of 2022 , there are 3,144 counties and county-equivalents in
10730-485: The U.S. unemployment rate down below 10%. World War II had a dramatic effect on many parts of the American economy. Government-financed capital spending accounted for only 5% of the annual U.S. investment in industrial capital in 1940; by 1943, the government accounted for 67% of U.S. capital investment. The massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending
10875-484: The United States is the city and county of Broomfield, Colorado , established in 2001 as a consolidated city-county , previously part of four counties. The newest county equivalents are the Alaskan census areas of Chugach and Copper River , both established in 2019, and the Alaskan boroughs of Petersburg established in 2013, Wrangell established in 2008, and Skagway established in 2007. A consolidated city-county
11020-622: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in
11165-543: The United States, remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36. According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had
11310-632: The Wall Street crash, after which the slide continued for three years, which was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in
11455-455: The banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did. With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch . One reason why
11600-465: The behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II . Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery, though it did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate
11745-402: The board. These positions may include county clerk , county treasurer , county surrogate, sheriff , and others. District attorneys or state attorneys are usually state-level as opposed to county-level officials, but in many states, counties and state judicial districts have coterminous boundaries. The site of a county's administration, and often the county courthouse , is generally called
11890-410: The city and the county at least nominally exist, they are properly classified as counties in their own right. Likewise, the boroughs of New York City are coextensive with counties and are therefore by definition also not county equivalents. There are technically no counties in U.S. territories. American Samoa has its own counties , but the U.S. Census Bureau does not treat them as counties (instead,
12035-458: The collapse in global trade, contributing to the depression. By 1933, the economic decline pushed world trade to one third of its level compared to four years earlier. While the precise causes for the occurrence of the Great depression are disputed and can be traced to both global and national phenomena, its immediate origins are most conveniently examined in the context of the U.S. economy, from which
12180-421: The county (which merely implements state law). A typical criminal defendant will be arraigned and subsequently indicted or held over for trial before a trial court in and for a particular county where the crime occurred, kept in the county jail (if he is not granted bail or cannot make bail), prosecuted by the county's district attorney, and tried before a jury selected from that county. But long-term incarceration
12325-457: The county jail.) In several southern states, public school systems are organized and administered at the county level. As of 2024 , there were 2,999 counties, 64 Louisiana parishes , 19 organized boroughs and 11 census areas in Alaska, 9 Councils of Government in Connecticut, 41 independent cities , and the District of Columbia for a total of 3,144 counties and county equivalents in
12470-425: The county, buying land together. The war veterans could build cabins here and grow their own food, living year round in a community. In later years, membership was opened to veterans of all wars. Veterans Colony still operates. According to the U.S. Census Bureau , the county has a total area of 729 square miles (1,890 km), of which 722 square miles (1,870 km) is land and 7.0 square miles (18 km) (1.0%)
12615-475: The crash was a mere symptom of more general economic trends of the time, which had already been underway in the late 1920s. A contrasting set of views, which rose to prominence in the later part of the 20th century, ascribes a more prominent role to failures of monetary policy . According to those authors, while general economic trends can explain the emergence of the downturn, they fail to account for its severity and longevity; they argue that these were caused by
12760-620: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what
12905-633: The decade. The Depression had devastating economic effects on both wealthy and poor countries: all experienced drops in personal income , prices ( deflation ), tax revenues, and profits. International trade fell by more than 50%, and unemployment in some countries rose as high as 33%. Cities around the world , especially those dependent on heavy industry , were heavily affected. Construction virtually halted in many countries, and farming communities and rural areas suffered as crop prices fell by up to 60%. Faced with plummeting demand and few job alternatives, areas dependent on primary sector industries suffered
13050-408: The depression. Not all governments enforced the same measures of protectionism. Some countries raised tariffs drastically and enforced severe restrictions on foreign exchange transactions, while other countries reduced "trade and exchange restrictions only marginally": The gold standard was the primary transmission mechanism of the Great Depression. Even countries that did not face bank failures and
13195-681: The distinction of being the meeting point of all three administrative super-regions comprising the Choctaw Nation, called the Apukshunubbee District , Moshulatubbee District , and Pushmataha District . Within these three districts the land area of the present-day county fell within Gaines County, Jacksfork County , Sans Bois County , Skullyville County , and Wade County . In 1858, the Butterfield Overland Mail established
13340-435: The domestic price level to decline ( deflation ). There is also consensus that protectionist policies, and primarily the passage of the Smoot–Hawley Tariff Act , helped to exacerbate, or even cause the Great Depression. Some economic studies have indicated that the rigidities of the gold standard not only spread the downturn worldwide, but also suspended gold convertibility (devaluing the currency in gold terms) that did
13485-402: The drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of
13630-427: The economies of Europe in 1937–1939. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. The American mobilization for World War II at the end of 1941 moved approximately ten million people out of the civilian labor force and into the war. This finally eliminated the last effects from the Great Depression and brought
13775-544: The effects of the Great Depression . From 1920 to 1930, the county lost about 2,000 people, who sought work in other areas. By 1932, only one mine still operated in the county. Mining towns lost almost half of their populations, and at one point, 93.5 percent of those remaining in the country were surviving on government relief, through programs started by the administration of President Franklin D. Roosevelt . Federal construction projects to build infrastructure and invest for
13920-576: The end of the month. A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday , the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop. Thousands of investors were ruined, and billions of dollars had been lost; many stocks could not be sold at any price. The market recovered 12% on Wednesday but by then significant damage had been done. Though
14065-494: The explanations of the Keynesians and monetarists. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating
14210-503: The few women in the labor force, layoffs were less common in the white-collar jobs and they were typically found in light manufacturing work. However, there was a widespread demand to limit families to one paid job, so that wives might lose employment if their husband was employed. Across Britain, there was a tendency for married women to join the labor force, competing for part-time jobs especially. In France, very slow population growth, especially in comparison to Germany continued to be
14355-501: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August
14500-399: The four independent municipalities within its borders: Atlantic Beach , Baldwin , Jacksonville Beach , and Neptune Beach . The term county equivalents is used by the United States Census Bureau to describe divisions that are comparable to counties but called by different names: Consolidated city-counties are not designated county equivalents for administrative purposes; since both
14645-445: The future provided many jobs for the unemployed. Locally such projects included Wilburton Municipal Airport, schools at Panola and elsewhere, and road-paving works. The Civilian Conservation Corps (CCC), another federal program conducted in collaboration with state governments, developed a park project at the state game preserve, now part of Robbers Cave State Park . In 1933, Spanish–American War veterans established Veterans Colony in
14790-461: The general law of the state or by a charter specific to that county. States may allow only general-law counties, only charter counties, or both. Generally, general-law local governments have less autonomy than chartered local governments. Counties are usually governed by an elected body, variously called the county commission , board of supervisors , commissioners' court , county council , county court , or county legislature . In cases in which
14935-622: The geographically largest cities in the world, though often with population densities far below those of most urban areas. There are 40 consolidated city-counties in the U.S., including Augusta–Richmond County; the City and County of Denver, Colorado; the City and County of Honolulu, Hawaii ; Indianapolis–Marion County, Indiana ; Jacksonville–Duval County, Florida ; Louisville–Jefferson County, Kentucky ; Lexington–Fayette County, Kentucky ; Kansas City–Wyandotte County, Kansas ; Nashville–Davidson County, Tennessee ; New Orleans–Orleans Parish, Louisiana ;
15080-599: The government tried to reshape private household consumption under the Four-Year Plan of 1936 to achieve German economic self-sufficiency. The Nazi women's organizations, other propaganda agencies and the authorities all attempted to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing
15225-519: The home, or took boarders, did laundry for trade or cash, and did sewing for neighbors in exchange for something they could offer. Extended families used mutual aid—extra food, spare rooms, repair-work, cash loans—to help cousins and in-laws. In Japan, official government policy was deflationary and the opposite of Keynesian spending. Consequently, the government launched a campaign across the country to induce households to reduce their consumption, focusing attention on spending by housewives. In Germany,
15370-486: The industry collapsed during the 1920s due to labor disputes, competition from petroleum-based fuels and the onset of the Great Depression. Only one mine was still operating in 1933. Agriculture was primarily limited to vegetables sold in the mining towns. Cotton, corn and cattle were the primary cash crops sold outside the area. After the coal industry collapsed, the main industries were cattle raising, lumbering and production of oil and gas. In 1909 state government created
15515-514: The initial crisis spread to the rest of the world. In the aftermath of World War I , the Roaring Twenties brought considerable wealth to the United States and Western Europe. Initially, the year 1929 dawned with good economic prospects: despite a minor crash on 25 March 1929, the market seemed to gradually improve through September. Stock prices began to slump in September, and were volatile at
15660-405: The judicial branch of the state government rather than county governments. In many states, the county controls all unincorporated lands within its boundaries. In states with a township tier, unincorporated land is controlled by the townships. Residents of unincorporated land who are dissatisfied with county-level or township-level resource allocation decisions can attempt to vote to incorporate as
15805-543: The lack of an adequate response to the crises of liquidity that followed the initial economic shock of 1929 and the subsequent bank failures accompanied by a general collapse of the financial markets. After the Wall Street Crash of 1929 , when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with
15950-560: The least extensive county equivalent is Kingman Reef , with a land area of 0.01 square miles (0.03 km ). In some states, a municipality may be in only one county and may not annex territory in adjacent counties, but in the majority of states, the state constitution or state law allows municipalities to extend across county boundaries. At least 32 states include municipalities in multiple counties . Dallas , for example, contains portions of five counties, while numerous other cities comprise portions of four counties. New York City
16095-416: The legislative power to enact laws for the county; it has the executive power to oversee the executive operations of county government; and it has quasi-judicial power with regard to certain limited matters (such as hearing appeals from the planning commission if one exists). In many states, several important officials are elected separately from the board of commissioners or supervisors and cannot be fired by
16240-512: The market entered a period of recovery from 14 November until 17 April 1930, the general situation had been a prolonged slump. From 17 April 1930 until 8 July 1932, the market continued to lose 89% of its value. Despite the crash, the worst of the crisis did not reverberate around the world until after 1929. The crisis hit panic levels again in December 1930, with a bank run on the Bank of United States ,
16385-674: The matter to the states. Subsequently, state constitutions conceptualized county governments as arms of the state. Louisiana instead adopted the local divisions called parishes that dated back to both the Spanish colonial and French colonial periods when the land was dominated by the Catholic Church . In the twentieth century, the role of local governments strengthened and counties began providing more services, acquiring home rule and county commissions to pass local ordinances pertaining to their unincorporated areas . In 1955, delegates to
16530-414: The mid-1930s, a severe drought ravaged the agricultural heartland of the U.S. Interest rates dropped to low levels by mid-1930, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment remained low. By May 1930, automobile sales declined to below the levels of 1928. Prices, in general, began to decline, although wages held steady in 1930. Then
16675-423: The monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action. This view
16820-496: The most to make recovery possible. Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves , in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets. Japan and the Scandinavian countries followed in 1931. Other countries, such as Italy and
16965-427: The most. The outbreak of World War II in 1939 ended the Depression, as it stimulated factory production, providing jobs for women as militaries absorbed large numbers of young, unemployed men. The precise causes for the Great Depression are disputed. One set of historians, for example, focuses on non-monetary economic causes. Among these, some regard the Wall Street crash itself as the main cause; others consider that
17110-568: The need to balance the national budget and was unwilling to implement expensive welfare spending . In 1930, Hoover signed the Smoot–Hawley Tariff Act , which taxed imports with the intention of encouraging buyers to purchase American products, which worsened the Depression because foreign governments retaliated with tariffs on American exports. In 1932, Hoover established the Reconstruction Finance Corporation , which offered loans to businesses and support to local governments. In
17255-565: The newly organized county had 27 mines; some 3,000 miners produced 5,000 tons of coal per day. Most coal was produced by the large companies. Native-born whites held most of the jobs as miners, but African Americans, European immigrants from the British Isles and Italy, and Mexicans also worked as laborers in the mining industry. In less than two decades, the coal industry collapsed, due to labor unrest seeking relief from harsh working conditions and unfair labor practices, competition from oils, and
17400-514: The next most common source of county names are geographic features and locations, with some counties even being named after counties in other states, or for places in other countries, such as the United Kingdom (the latter is most common in the area of the original Thirteen Colonies in the case of the United Kingdom, or in places which had a large number of immigrants from a particular area for other countries). The most common geographic county name
17545-424: The official record of all real estate transactions. Other key county officials include the coroner / medical examiner , treasurer , assessor , auditor , comptroller , and district attorney . In most states, the county sheriff is the chief law enforcement officer in the county. However, except in major emergencies where clear chains of command are essential, the county sheriff normally does not directly control
17690-483: The physical volume of exports fall, but also the prices fell by about 1 ⁄ 3 as written. Hardest hit were farm commodities such as wheat, cotton, tobacco, and lumber. Governments around the world took various steps into spending less money on foreign goods such as: "imposing tariffs, import quotas, and exchange controls". These restrictions triggered much tension among countries that had large amounts of bilateral trade, causing major export-import reductions during
17835-448: The police departments of city governments, but merely cooperates with them (e.g., under mutual aid pacts). Thus, the most common interaction between county and city law enforcement personnel is when city police officers deliver suspects to sheriff's deputies for detention or incarceration in the county jail. In most states, the state courts and local law enforcement are organized and implemented along county boundaries, but nearly all of
17980-477: The policies prolonged the Depression instead of shortening it. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%; in the U.S., the Depression resulted in a 30% contraction in GDP. Recovery varied greatly around the world. Some economies, such as the U.S., Germany and Japan started to recover by the mid-1930s; others, like France, did not return to pre-shock growth rates until later in
18125-455: The political situation in Europe. In their book, A Monetary History of the United States , Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System . Chairman of the Federal Reserve (2006–2014) Ben Bernanke agreed that monetary factors played important roles both in
18270-468: The population were Hispanic or Latino of any race. 20.7% were of American , 9.5% Irish , 8.1% German and 5.0% English ancestry. There were 3,951 households, out of which 32.20% had children under the age of 18 living with them, 56.90% were married couples living together, 11.50% had a female householder with no husband present, and 27.40% were non-families. 24.90% of all households were made up of individuals, and 12.30% had someone living alone who
18415-578: The relationship between counties and incorporated cities. The powers of counties arise from state law and vary widely. In Connecticut and Rhode Island , counties are geographic entities, but not governmental jurisdictions. At the other extreme, Maryland counties and the county equivalent City of Baltimore handle almost all services, including public education , although the state retains an active oversight authority with many of these services. Counties in Hawaii also handle almost all services since there
18560-434: The scale necessary to make the grand experiments which would prove my case—except in war conditions." According to Christina Romer , the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of
18705-541: The state's French and Spanish colonial periods. Before the Louisiana Purchase and granting of statehood, government was often administered in towns where major church parishes were located. Of the original 19 civil parishes of Louisiana that date from statehood in 1807, nine were named after the Roman Catholic parishes from which they were governed. The structure and powers of a county government may be defined by
18850-421: The substantive and procedural law adjudicated in state trial courts originates from the state legislature and state appellate courts. In other words, most criminal defendants are prosecuted for violations of state law, not local ordinances, and if they, the district attorney, or police seek reforms to the criminal justice system, they will usually have to direct their efforts towards the state legislature rather than
18995-399: The term "county equivalent" to describe places that are comparable to counties, but called by different names. Louisiana parishes, the organized boroughs of Alaska, independent cities, and the District of Columbia are equivalent to counties for administrative purposes. Alaska's Unorganized Borough is further divided into 11 census areas that are statistically equivalent to counties. In 2024,
19140-471: The world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and
19285-659: The world. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in political turmoil. With the rise in violence of National Socialist ('Nazi') and Communist movements, as well as investor nervousness at harsh government financial policies, investors withdrew their short-term money from Germany as confidence spiraled downward. The Reichsbank lost 150 million marks in
19430-778: The worldwide economic decline and eventual recovery. Bernanke also saw a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system, and pointed out that the Depression should be examined in an international perspective. Women's primary role was as housewives; without a steady flow of family income, their work became much harder in dealing with food and clothing and medical care. Birthrates fell everywhere, as children were postponed until families could financially support them. The average birthrate for 14 major countries fell 12% from 19.3 births per thousand population in 1930, to 17.0 in 1935. In Canada, half of Roman Catholic women defied Church teachings and used contraception to postpone births. Among
19575-458: Was 65 years of age or older. The average household size was 2.54 and the average family size was 3.00. In the county, the population was spread out, with 25.70% under the age of 18, 11.40% from 18 to 24, 24.20% from 25 to 44, 22.50% from 45 to 64, and 16.10% who were 65 years of age or older. The median age was 37 years. For every 100 females there were 97.50 males. For every 100 females age 18 and over, there were 94.70 males. The median income for
19720-639: Was a scramble to deflate prices to get the gold standard's conversation rates back on track to pre-WWI levels, by causing deflation and high unemployment through monetary policy. In 1933 FDR signed Executive Order 6102 and in 1934 signed the Gold Reserve Act . The two classic competing economic theories of the Great Depression are the Keynesian (demand-driven) and the Monetarist explanation. There are also various heterodox theories that downplay or reject
19865-478: Was a small part of overall economic activity in the U.S. and was concentrated in a few businesses like farming, it was a much larger factor in many other countries. The average ad valorem (value based) rate of duties on dutiable imports for 1921–1925 was 25.9% but under the new tariff it jumped to 50% during 1931–1935. In dollar terms, American exports declined over the next four years from about $ 5.2 billion in 1929 to $ 1.7 billion in 1933; so, not only did
20010-423: Was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. The Depression
20155-440: Was dissolved by the District of Columbia Organic Act . Jefferson County , for Thomas Jefferson , is next with 26. The most recent president to have a county named for him was Warren G. Harding , reflecting the slowing rate of county creation since New Mexico and Arizona became states in 1912. The most common names for counties not named after a president are Franklin (25), Clay (18), and Montgomery (18). After people,
20300-474: Was endorsed in 2002 by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again. The Federal Reserve allowed some large public bank failures – particularly that of
20445-426: Was given by American economists Milton Friedman and Anna J. Schwartz . They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction ". This caused a price drop of 33% ( deflation ). By not lowering interest rates, by not increasing
20590-491: Was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by
20735-446: Was intended. It exacerbated the Great Depression by preventing economic recovery after domestic production recovered, hampering the volume of trade; still there is disagreement as to the precise extent of the Act's influence. In the popular view, the Smoot–Hawley Tariff was one of the leading causes of the depression. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened
20880-523: Was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on the stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until
21025-464: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that
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