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99-548: Rothrock State Forest is located in Centre , Huntingdon, and Mifflin Counties. State College , home of Penn State University is only a few miles from many of the entrances of Rothrock, leading to high utilization of the forest by students and staff of the university. Rothrock shares a common border on its eastern portion with Bald Eagle State Forest and is just north of areas of Tuscarora State Forest . Rothrock State Forest

198-634: 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,

297-418: 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

396-843: A 326-mile cross-country trail running from the Green Ridge State Forest in Maryland to a spur of the Finger Lakes trail in New York, crosses the Rothrock State Forest for about 42 miles. In addition to the MST and miles of local hiking trails, Rothrock State Forest includes roughly 16 miles of the 70+ miles long Standing Stone Trail (SST). Horses may be ridden on most of Rothrock's hundreds of miles of trails and state forest roads. Horses are not permitted on

495-780: A 50-mile (80 km) race and Ultramarathon, and the Stoopid 50 mountain bike race. In 2005 the Single Speed World Championship race was held in Rothrock. The Trans-Sylvania Mountain Bike Epic 7-day Stage Race is held annually in the park, with stages in both Rothrock and Bald Eagle State Forests. On May 1, 2006, a downed power line caused over 100 acres (40 ha) to burn in and adjacent to Rothrock State Forest. The Tussey Mountain Trail transects this burn, which

594-683: A Rothrock Purple Lizard Map to navigate of the forest. Additional print maps and resources can be found on the Keystone Trails Association website and IMBA ’s website. Free print maps are available from the DCNR Rothrock State Forest webpage or Nittany Mountain Bike Association’s site. Many trails have been mapped on OpenStreetMap , as well. The Rothrock State Forest contains nearly 300 miles of hiking trails. The Pennsylvania Mid State Trail (MST),

693-604: 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

792-467: 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

891-462: A male householder with no wife present, 6.4% had a female householder with no husband present, and 45.7% were non-families. 28.7% of all households were made up of individuals, and 8.3% had someone living alone who was 65 years of age or older. The average household size was 2.38 and the average family size was 2.91. In the county, 15.9% of the population was under the age of 18, 28.9% was from 18 to 24, 22.6% from 25 to 44, 21.3% from 45 to 64, and 11.3%

990-600: 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

1089-402: 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

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1188-567: 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

1287-480: 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

1386-657: 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

1485-430: A strongly Republican county, like most of rural Pennsylvania. In the early 21st century, however, it has been more competitive. In 2000 George W. Bush defeated Al Gore with 52% of the vote to Gore's 43%. In 2004 Bush won the county by a much smaller margin. Bush won 51% to Kerry's 47%, a margin of only 4%. In 2006, Governor Ed Rendell and Bob Casey Jr. both carried Centre, and Democrat Scott Conklin decisively won

1584-488: A very narrow margin, 48.9% to 48.65%, a difference of just 175 votes. In 2016, Democrat Hillary Clinton beat Republican nominee Donald Trump 47.76% to 45.86%. In that same election, incumbent Republican Senator Pat Toomey beat Democratic opponent Katie McGinty 47.91% to 46.2% in the county. As of February 7, 2024, there were 100,829 registered voters in Centre County. School districts include: As reported by

1683-612: Is a county in the Commonwealth of Pennsylvania , United States. As of the 2020 census , the population was 158,172. Its county seat is Bellefonte . Centre County comprises the State College, PA Metropolitan Statistical Area . The county is part of the Central Pennsylvania region of the state. The lands of the future Centre County were first recorded by James Potter in 1764. Potter, having reached

1782-658: 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

1881-700: Is now quite beautiful in spring with wildflowers and grasses among the charred trees. This trail has become a regional favorite among mountain cyclists, trail runners, and hikers alike. Rothrock State forest is managed by the Pennsylvania Department of Conservation and Natural Resources (DCNR). Numerous advocacy groups exist to promote sustainable land management in and around the Forest, including Nittany Mountain Bike Association, Friends of Rothrock State Forest, Clearwater Conservancy, and

1980-1013: Is part of the Johnstown/Altoona/State College television market, which is currently ranked #99 in the nation. Television stations broadcasting out of State College include WPSU ( PBS ) and WHVL-LD ( MyNetworkTV ) as well as C-NET, Centre County's Government and Education Access Television Network, which broadcasts on two channels: CGTV (Government Access TV) and CETV (Educational Access TV). Johnstown-based WJAC-TV ( NBC ) and Altoona-based WTAJ-TV ( CBS ) also maintain satellite studios and offices here. Under Pennsylvania law, there are five types of incorporated municipalities: cities , home rule municipalities , boroughs , townships , and, in at most two cases, towns . The following municipalities, boroughs and townships are in Centre County: Census-designated places are geographical areas designated by

2079-493: 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

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2178-539: 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

2277-607: The 259th most populous in the United States with a population of 155,403. Centre County is also a part of the larger State College–DuBois, PA Combined Statistical Area (CSA), which combines the populations of Centre County as well as Clearfield County to the west. The Combined Statistical Area ranked ninth in the State of Pennsylvania and 123rd most populous in the United States with a population of 236,577. Chart of Voter Registration Centre County had for many years been

2376-582: 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

2475-591: The Pennsylvania Mid State Trail (MST), Standing Stone Trail (SST), or in Natural Areas. There are no dual-sport motorcycle trails in Rothrock State Forest. Neighboring Bald Eagle State Forest has one of the largest motorcycle trail systems in the state. Street legal motorcycles are allowed to ride the public roads in Rothrock, and this is a popular destination for motorcyclists. Centre County, Pennsylvania Centre County

2574-475: The U.S. Census Bureau for the purposes of compiling demographic data. They are not actual jurisdictions under Pennsylvania law. Other unincorporated communities, such as villages, may also be listed here. The population ranking of the following table is based on the 2010 census of Centre County. † county seat 40°55′N 77°49′W  /  40.91°N 77.82°W  / 40.91; -77.82 Great Depression The Great Depression

2673-541: The U.S. Census Bureau , the county has a total area of 1,113 square miles (2,880 km ), of which 1,110 square miles (2,900 km ) is land and 3.0 square miles (7.8 km ) (0.3%) is water. Centre County is one of the 423 counties served by the Appalachian Regional Commission , and it is identified as part of the "Midlands" by Colin Woodard in his book American Nations: A History of

2772-513: The U.S. Forest Service upgraded the Pennsylvania Forestry Division to full department status and gave the new Department of Forest and Waters the funds needed to build steel observation towers in the state forests. The construction of the observation towers combined with changes in forest management lead to a dramatic decrease in the number and size of forest fires throughout the state forests of Pennsylvania. Much of

2871-539: 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,

2970-447: 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

3069-813: 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

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3168-530: 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

3267-521: 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

3366-677: The Eleven Rival Regional Cultures of North America . It is the fifth-largest county in Pennsylvania by area and uses area code 814 . Centre County has a humid continental climate ( Dfb/Dfa at lower elevations). As of the 2010 census, there were 153,990 people, 57,573 households, and 31,256 families residing in the county. The population density was 139 people per square mile (54 people/km ). There were 63,297 housing units at an average density of 57 units per square mile (22/km ). The racial makeup of

3465-489: 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

3564-442: 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

3663-642: 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

3762-481: 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

3861-751: The Pennsylvania Department of Education 2010. State College Regional Airport operates daily commercial and general aviation flights. There are six Pennsylvania state parks in Centre County. Centre County's main daily newspaper is the Centre Daily Times (part of the McClatchy Company chain). Alternative newspapers include the Centre County Gazette and State College City Guide . Newspapers of Pennsylvania State University 's main campus include

3960-548: The Pennsylvania Parks & Forests Foundation. Numerous mountain biking trails can be found throughout Rothrock State Forest. It is one of the premier mountain bike destinations in the state, as evidenced by the world class race events held here annually. Shingletown Gap and Coopers Gap are two areas that have a high concentration of popular mountain bike trails. Rothrock has two IMBA Epic rides; each uses trails in these two separate Gaps. Many cyclists and hikers use

4059-452: The Rothrock State Forest area. By the 1950s the second growth forests of oak and hickory had grown to a size that the wood was ready to be harvested for lumber . A scientific forestry management plan was put into place in 1955. The timber management plan was expanded to a natural resource management plan in 1985. The new management plan covers the management of water, wildlife, timber, fire protection and recreation. Recreational use of

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4158-646: The Rothrock State Forest has grown in the last several decades. All visitors are asked to learn and comply with all state forest regulations while using and respecting the forest and its facilities. Four PA State Parks are located within Rothrock State Forest: Various events are held in Rothrock each year including the Wilderness 101 , a 101-mile (163 km) mountain bike race, and the Tussey MountainBack 50 Mile Relay,

4257-480: The State House seat left open by the retirement of Republican Lynn Herman in the 77th district. In 2008, Democrats captured the countywide registration edge, Barack Obama carried the county with 55% of the vote to McCain's 44%, and Democratic statewide winners ( Rob McCord for Treasurer and Jack Wagner for Auditor General also carried Centre). In 2012, Barack Obama won the county in his reelection campaign by

4356-544: 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

4455-490: 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

4554-622: 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

4653-543: 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

4752-638: 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

4851-460: 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

4950-573: The beginning of the Depression. The Depression 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

5049-465: 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

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5148-462: 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

5247-407: The county was 89.4% White , 3.0% Black or African American , 0.1% Native American , 5.2% Asian , 0.1% Pacific Islander , 0.7% from other races , and 1.5% from two or more races. 2.4% of the population were Hispanic or Latino of any race. There were 57,573 households, out of which 23.3% had children under the age of 18 living with them, 44.6% were married couples living together, 3.3% had

5346-475: 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

5445-498: The creation of a forest academy to train foresters for state service. He led the effort in central Pennsylvania to acquire land that had once belonged to the Greenwood Iron Works. The iron company had left behind approximately 35,000 acres (14,000 ha) of land that had been stripped of its old growth forest to provide fuel in the form of charcoal for the iron furnaces in northern Huntingdon County . Additional land

5544-625: 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

5643-633: 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

5742-408: 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

5841-435: 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

5940-402: 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

6039-427: 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

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6138-576: 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

6237-500: 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

6336-503: 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

6435-505: 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

6534-441: The formation of second growth forests . The conservationists feared that the forest would never regrow if there was not a change in the philosophy of forest management. They called for the state to purchase land from the lumber and iron companies. The lumber and iron companies were more than willing to sell their land since they had depleted the natural resources of the forests. The changes began to take place in 1895 when Dr. Rothrock

6633-606: 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

6732-519: 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,

6831-527: 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

6930-563: 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

7029-520: The land that is now Rothrock State Forest was cleared of dried underbrush during the Great Depression by the young men of the Civilian Conservation Corps created by President Franklin D. Roosevelt . In addition to clearing the forests and streams of brush the CCC also built roads and trails in the state forests and parks and many of the recreational facilities still in use at the state parks in

7128-521: 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 ,

7227-414: 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

7326-423: 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

7425-502: 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

7524-427: 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

7623-582: 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

7722-483: 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

7821-480: 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

7920-459: 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

8019-434: 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

8118-534: The student-run Daily Collegian . Numerous magazines are also published including Town & Gown , State College Magazine , Good Life in Happy Valley , Blue White Illustrated , Pennsylvania Business Central , and Voices of Central Pennsylvania . The radio market of Centre County is ranked #257 in the nation. Some of the more popular stations include WPSU , WKPS , WZWW , WLEJ , WFGE , WNLI , WRSC-FM , WBHV , WOWY , and WBUS . Centre County

8217-488: The top of Nittany Mountain , and "...seeing the prairies and noble forest beneath him, cried out to his attendant, 'By heavens, Thompson, I have discovered an empire!'" After the American Revolutionary War, Centre County was created on February 13, 1800, from parts of Huntingdon , Lycoming , Mifflin , and Northumberland counties; it was named for its central location in the state. According to

8316-476: 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

8415-673: 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

8514-778: 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

8613-489: Was 65 years of age or older. The median age was 29 years. For every 100 females there were 107.5 males. For every 100 females age 18 and over, there were 108.1 males. The United States Office of Management and Budget has designated Centre County as the State College, PA Metropolitan Statistical Area (MSA). As of the 2010 U.S. Census the metropolitan area ranked 13th most populous in the State of Pennsylvania and

8712-658: 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

8811-505: Was a severe global economic downturn from 1929 to 1939. The period 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

8910-478: 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

9009-541: Was appointed the first commissioner of the Pennsylvania Department of Forests and Waters, the forerunner of today's Pennsylvania Department of Conservation and Natural Resources . The Pennsylvania General Assembly passed a piece of legislation in 1897 that authorized the purchase of "unseated lands for forest reservations." This was the beginning of the State Forest system. Two of Dr. Rothrock's major accomplishments as commissioner were his land acquisition program and

9108-474: 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

9207-546: Was formed as a direct result of the depletion of the forests of Pennsylvania that took place during the mid-to-late 19th century. Conservationists like Dr. Joseph Rothrock , for whom the forest is named, became concerned that the forests would not regrow if they were not managed properly. Lumber and iron companies had harvested the old-growth forests for various reasons. They clear cut the forests and left behind nothing but dried treetops and rotting stumps. The sparks of passing steam locomotives ignited wildfires that prevented

9306-426: 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

9405-500: 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

9504-446: 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

9603-470: Was near Mount Union and Entriken, in Huntingdon County. The three forests were merged in 1953 with parts of Penn and Logan being added to Bald Eagle State Forest and the rest combined to make what is now Rothrock State Forest. Some of the first fire towers built in Pennsylvania were constructed in Rothrock State Forest in the 1920s. Pennsylvania Governor Gifford Pinchot , former chief of

9702-739: Was purchased soon after until nearly all of the Seven Mountain area had become state property. The lands acquired in the early 20th century were divided into three separate state forest reserves. Logan State Forest comprised the land in northern Huntingdon County and Ferguson and Harris , Townships in Centre County . Penn State Forest was located in Potter Township , Centre County and Armagh Township and Brown Township , Townships in Mifflin County . Rothrock State Forest

9801-470: 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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