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106-506: Bryson City is a town in and the county seat of Swain County , North Carolina , United States. The population was 1,558 as of the 2020 census . Located in what was historically the land of the Cherokee , Bryson City was founded as Charleston to serve as the county seat of Swain County when it was formed from parts of surrounding counties. It grew into an important local rail hub. Today

212-531: A Superior Court and Sheriff (as an officer of the court ), both located in a designated "shire town". Bennington County, Vermont has two shire towns; the court for "North Shire" is in the shire town Manchester , and the Sheriff for the county and court for "South Shire" are in the shire town Bennington. In 2024, Connecticut , which had not defined their counties for anything but statistical, historical and weather warning purposes since 1960, along with ending

318-634: 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,

424-418: 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

530-410: A county seat may be an independent city surrounded by, but not part of, the county of which it is the administrative center; for example, Fairfax City is both the county seat of Fairfax County, Virginia and completely surrounded by Fairfax County, but the city is politically independent of the county. When the county seat is in the independent city, government offices such as the courthouse may be in

636-604: 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

742-467: 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

848-499: A household in the town was $ 23,232, and the median income for a family was $ 31,875. Males had a median income of $ 26,528 versus $ 19,833 for females. The per capita income for the town was $ 14,446. About 14.8% of families and 19.2% of the population were below the poverty line , including 25.4% of those under age 18 and 21.0% of those age 65 or over. There is a federal building and federal courthouse in Bryson City. The courthouse

954-600: 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

1060-402: 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

1166-656: A name with Charleston, South Carolina . The Western North Carolina Railroad laid tracks through Bryson City in 1884, greatly improving transportation to the previously isolated area. The Bryson City Bank opened in 1904. The current Swain County Courthouse was completed in 1908, replacing the former one. The Great Smoky Mountains National Park , which was established in 1933 during the Great Depression , generates considerable revenue to for Swain County. Horace Kephart , an author and outdoors enthusiast who

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1272-567: 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

1378-480: 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

1484-713: 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

1590-658: 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

1696-532: Is centered around the junction of Everett Street and Main Street. Main Street is part of U.S. Route 19 , which connects Bryson City to Cherokee to the northeast and Murphy to the southwest. According to the United States Census Bureau , the town has a total area of 2.2 square miles (5.7 km), of which 2.1 square miles (5.4 km) is land and 0.1 square miles (0.26 km) (5.33%)

1802-694: Is in the jurisdiction of the United States District Court for the Western District of North Carolina . Swain County Schools is the local school district. Swain County High School is the local high school. County seat In Canada , the provinces of Ontario , Quebec , New Brunswick , Prince Edward Island , and Nova Scotia have counties as an administrative division of government below

1908-409: Is known as the seat of its county. Generally, the county legislature, county courthouse, sheriff's department headquarters, hall of records, jail and correctional facility are located in the county seat, though some functions (such as highway maintenance, which usually requires a large garage for vehicles, along with asphalt and salt storage facilities) may also be located or conducted in other parts of

2014-493: 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

2120-438: Is water. As of the 2020 United States census , there were 1,558 people, 654 households, and 424 families residing in the town. As of the census of 2000, there were 1,411 people (1,353 in 2009), 588 households, and 323 families residing in the town. The population density was 663.5 inhabitants per square mile (256.2/km). There were 713 housing units at an average density of 335.3 per square mile (129.5/km). The racial makeup of

2226-539: 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

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2332-685: The Eastern Band of Cherokee Indians , the only federally recognized tribe in North Carolina. Many are descendants of Cherokee who avoided removal in the late 1830s. The completion of Fontana Dam in 1944 created a reservoir, which inundated the only highway connecting Bryson City with the remote area of the Smokies known as the North Shore. The U.S. government began constructing a new highway in 1948, now known as Lakeview Drive, but it

2438-785: The Great Smoky Mountains . After flowing around the Bryson City Island Park , and passing through Bryson City, the Tuckasegee flows southwestward for another 12 miles (19 km) before emptying into the Little Tennessee River . Fontana Lake , an impoundment of the Little Tennessee, covers the lower 11 miles (18 km) of the Tuckasegee. The town is surrounded on all sides by mountains. The Great Smoky Mountains rise to

2544-582: 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

2650-539: 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,

2756-461: The 1830s, Belk's heirs and Love fought an extended legal battle over control of the former Big Bear land, with Love finally prevailing in 1840. The following year, Love sold part of the land to James and Diana Shuler. The Shulers, in turn, sold parts of their land to Colonel Thaddeus Bryson and merchant Alfred Cline. A small hamlet known as Bear Springs developed on what was once Big Bear's reservation. With its population having increased, Swain County

2862-447: 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

2968-813: 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

3074-530: 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

3180-521: 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

3286-489: 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

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3392-442: 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

3498-642: 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

3604-481: 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

3710-544: 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

3816-490: 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

3922-685: 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

4028-884: The United States, followed by Towson , the county seat of Baltimore County, Maryland . Likewise, some county seats may not be incorporated in their own right, but are located within incorporated municipalities. For example, Cape May Court House, New Jersey , though unincorporated, is a section of Middle Township , an incorporated municipality. In some states, often those that were among the original Thirteen Colonies , county seats include or formerly included "Court House" as part of their name, such as Spotsylvania Courthouse, Virginia . Most counties have only one county seat. However, some counties in Alabama , Arkansas , Georgia , Iowa , Kentucky , Massachusetts , Mississippi , Missouri , New Hampshire , New York , and Vermont have two or more county seats, usually located on opposite sides of

4134-543: 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

4240-638: 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

4346-625: The automobile led to a decline in railroad transportation, and Southern Railway (which had replaced the Western North Carolina Railroad ) dropped passenger service in 1948. After Norfolk Southern ended freight traffic on the railroad in 1985, the state of North Carolina purchased the tracks. In 1988, the state established a scenic line, known as the Great Smoky Mountains Railroad , with its depot and departure point in Bryson City. In 2015,

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4452-460: 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

4558-465: 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

4664-742: The city serves as a popular tourist destination, lying just to the west of the entrance to the Great Smoky Mountains National Park , for outdoor activities in the Nantahala National Forest , and along the Nantahala River and Fontana Lake , and serves as the home of the Great Smoky Mountains Railroad , a heritage railroad that provides tours of the Nantahala valley. The popular Nantahala Outdoor Center provides guide services for many of

4770-514: The city's first FM station was launched. WTIJ-LP (100.7) broadcasts local and nationally syndicated ministers, and Christian music. The station is owned by Grace Christian Academy and broadcasts over the air and online 24/7. Bryson City is located just west of the confluence of the Tuckasegee River , which flows westward from its source in the mountains to the east, and Deep Creek, which flows south from its source near Newfound Gap in

4876-462: 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

4982-526: The counties after his unification, there were about 1,000. Under the Eastern Han dynasty , the number of counties increased to above 1,000. About 1400 existed when the Sui dynasty abolished the commandery level (郡 jùn), which was the level just above counties, and demoted some commanderies to counties. In Imperial China, the county was a significant administrative unit because it marked the lowest level of

5088-546: The county's first sheriff, Epp Everett). The first Swain County Courthouse was completed in 1874. In 1872, shortly after completion of the new jail, a gang led by Harvey Cooper stormed the jail and freed Tom Colvert, whom they deemed unjustly imprisoned for killing a rival at a saloon in Robbinsville . In 1889, the people of Charleston changed the city's name to "Bryson City" to acknowledge the role of Thaddeus Bryson in its development, and to eliminate confusion from sharing

5194-418: The county, especially if it is geographically large. A county seat is usually an incorporated municipality . The exceptions include the county seats of counties that have no incorporated municipalities within their borders, such as Arlington County, Virginia , where the county seat is the entire county. Ellicott City , the county seat of Howard County, Maryland , is the largest unincorporated county seat in

5300-420: The county. Examples include Harrison County, Mississippi , which has both Biloxi and Gulfport as county seats, and Hinds County, Mississippi , which has both Raymond and the state capital of Jackson . The practice of multiple county seat towns dates from the days when travel was difficult. There have been few efforts to eliminate the two-seat arrangement, since a county seat is a source of civic pride for

5406-475: 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

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5512-625: 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

5618-633: 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

5724-408: 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

5830-435: 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

5936-402: 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

6042-427: 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

6148-576: 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

6254-500: 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

6360-619: The federally recognized Eastern Band of Cherokee Indians and is preserved as a sacred site. (Bryson City developed downstream from this site.) In 1567, an orata (minor chief) from Kituwa is believed to have met with Spanish explorer Juan Pardo in the French Broad Valley to the north. During the American Revolutionary War, many Cherokee allied with the British, hoping to expel European Americans from their territory. American soldiers burned and destroyed

6466-503: 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

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6572-505: 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

6678-606: 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

6784-519: 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,

6890-424: The imperial bureaucratic structure; in other words, it was the lowest level that the government reached. Government below the county level was often undertaken through informal non-bureaucratic means, varying between dynasties. The head of a county was the magistrate , who oversaw both the day-to-day operations of the county as well as civil and criminal cases. The current number of counties mostly resembled that of

6996-585: The increase of Han Chinese population in Taiwan, the number of counties also grew by time. By the end of Qing era, there were 11 counties in Taiwan. Protestant missionaries in China first romanized the term as hien . When Taiwan became a Japanese colony in 1895, the hierarchy of divisions also incorporated into the Japanese system in the period when Taiwan was under Japanese rule. By September 1945, Taiwan

7102-625: The independent city under an agreement, such as in Albemarle , or may in be enclaves of the county surrounded by the independent city, such as in Fairfax . Others, such as Prince William , have the courthouse in an enclave surrounded by the independent city and have the county government, the Board of Supervisors, in a different part of the county, far from the county seat. The following counties have their county seat in an independent city: Bedford

7208-527: 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

7314-563: 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

7420-758: The later years of the Qing dynasty . Changes of location and names of counties in Chinese history have been a major field of research in Chinese historical geography, especially from the 1960s to the 1980s. There are 1,355 counties in Mainland China out of a total of 2,851 county-level divisions. In Taiwan , the first counties were first established in 1661 by the Kingdom of Tungning . The later ruler Qing empire inherited this type of administrative divisions. With

7526-521: 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 ,

7632-414: 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

7738-423: 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

7844-502: 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

7950-427: 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

8056-582: 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

8162-543: The north, the Cowee Mountains rise to the south, and the Plott Balsams rise to the east. The boundary of the Nantahala National Forest passes just south of the city, and the boundary of the Great Smoky Mountains National Park passes just to the north. The Qualla Boundary , which comprises the bulk of the reservation of the Eastern Band of Cherokee Indians , dominates the area to the east. Bryson City

8268-475: The outdoor activities in the area. Indigenous cultures of Native Americans have been living and hunting along the Tuckasegee River in the vicinity of what is now Bryson City for nearly 14,000 years. The village of Kituwa , which the Cherokee believed to be their oldest village and "mother town", was located along the Tuckasegee River. The ancient mound and village site is now controlled again by

8374-483: 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

8480-480: 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

8586-459: 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

8692-775: The provincial level, and thus county seats. In the provinces of Prince Edward Island, New Brunswick, and Nova Scotia the term "shire town" is used in place of county seat. County seats in China are the administrative centers of the counties in the People's Republic of China . Xian have existed since the Warring States period and were set up nationwide by the Qin dynasty . The number of counties in China proper gradually increased from dynasty to dynasty. As Qin Shi Huang reorganized

8798-434: 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

8904-777: The state's area, has no borough government or borough seat. One borough, the Lake and Peninsula Borough , has its borough seat located in another borough, namely King Salmon in Bristol Bay Borough . In Louisiana , which is divided into parishes rather than counties, county seats are referred to as "parish seats". In New England , counties have served mainly as dividing lines for the states' judicial systems. Rhode Island has no county level of government and thus no county seats, and Massachusetts has dissolved many but not all of its county governments. In Vermont , Massachusetts , and Maine county government consists only of

9010-479: The town of Kituwa in 1776, but the Cherokee continued to hold annual ceremonial dances at the site throughout the 19th century. Around 1818, a Cherokee chief known as Big Bear received a 640-acre (2.6 km) reservation of land immediately west of the confluence of Deep Creek and the Tuckasegee River. Big Bear sold part of his reservation to Darling Belk in 1819 and another part to John B. Love in 1824. Throughout

9116-541: The town was 90.93% White , 1.98% African American , 4.96% Native American , 0.35% Asian , 0.64% from other races , and 1.13% from two or more races. Hispanic or Latino of any race were 1.70% of the population. There were 588 households, out of which 21.8% had children under the age of 18 living with them, 38.1% were married couples living together, 12.8% had a female householder with no husband present, and 44.9% were non-families. 41.3% of all households were made up of individuals, and 20.7% had someone living alone who

9222-416: The towns involved, along with providing employment opportunities. There are 33 counties with multiple county seats in 11 states: Alaska is divided into boroughs rather than counties; the county seat in these case is referred to as the "borough seat"; this includes six consolidated city-borough governments (one of which is styled as a "municipality"). The Unorganized Borough, Alaska , which covers 49% of

9328-544: The use of county seats in particular, will fully transition with the permission of the United States Census Bureau to a system of councils of government for the purposes of boundary definition and as county equivalents. Two counties in South Dakota , Oglala Lakota and Todd , have their county seat and government services centered in a neighboring county. Their county-level services are provided by Fall River County and Tripp County , respectively. In Virginia ,

9434-476: 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

9540-673: 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

9646-778: 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

9752-449: Was 65 years of age or older. The average household size was 2.09 and the average family size was 2.78. In the town, the population was spread out, with 17.6% under the age of 18, 5.9% from 18 to 24, 24.9% from 25 to 44, 24.5% from 45 to 64, and 27.1% who were 65 years of age or older. The median age was 46 years. For every 100 females, there were 77.9 males. For every 100 females age 18 and over, there were 78.2 males. The median income for

9858-658: 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

9964-478: 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

10070-440: Was an independent city from 1968 to 2013, while also being the county seat of Bedford County . Bedford reverted to an incorporated town, and remains the county seat, though is now part of the county. The state with the most counties is Texas, with 254, and the state with the fewest counties is Delaware, with 3. Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period

10176-475: Was based in Bryson City for several years, was a key early proponent for creation of the park. The Deep Creek section of the park, which is immediately north of Bryson City, has a large campground and multiple trailheads. The park's main eastern entrance is located just a few miles east of Bryson City at Cherokee . Cherokee is the southern terminus of the Blue Ridge Parkway . It is also the base of

10282-485: 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

10388-573: Was divided into 8 prefectures ( 州 and 廳 ), which remained after the Republic of China took over. There are 13 county seats in Taiwan, which function as county-administered cities , urban townships , or rural townships . In most of the United States , a county is an administrative or political subdivision of a state that consists of a geographic area with specific boundaries and usually some level of governmental authority. The city, town, or populated place that houses county government

10494-474: 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

10600-466: Was formed from parts of Jackson and Macon counties in 1871, during the Reconstruction era . The new commissioners first met at Cline's store at Bear Springs. Lucy Ann (Raby) Cline agreed to sell several lots of her land to form a county seat. Initially known as Charleston, the county seat was laid out in a T-shape, formed by what are now Main and Everett streets (the latter street was named for

10706-426: 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

10812-500: 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

10918-446: 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

11024-523: 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

11130-591: Was slow. By 1972, only 7 miles (11 km) had been completed. Environmental and financial issues stalled the project, and the road became known to locals as "The Road to Nowhere". In 2007, the National Park Service deemed the road's construction to be in violation of the Great Smoky Mountains National Park's general management plan, and began working with Swain County to find an alternative. The increasing usage of

11236-470: 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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