2 Wall Street Journal newspapers 1919 & 1921 w 2nd worst US FINANCIAL DEPRESSION

Description: 2 Wall Street Journal newspapers 1919 & 1921 w 2nd worst US FINANCIAL DEPRESSION- inv # generic SEE PHOTO----- Two (2) COMPLETE ORIGINAL newspapers, the Wall Street Journal (NY), one dated in late 1919 and the other dated in early 1921. These two newspapers are selected at random from our inventory of the Wall Street Journal dated in 1919 and 1921. These 2 WSJ newspapers "straddle" the second worst financial depression in US history, the DEPRESSION of 1920-1921. Only the Great Depression of 1929-1932 was more severe than the Depression of 1920-1921. These two newspapers show the financial "mood" just before and during the GREAT DEPRESSION of 1920-1921. Read all about the days before and during the second worst financial crisis in US history. The recession of 1920–21 was characterized by extreme deflation — the largest one-year percentage decline in around 140 years of data. GREAT pair of Wall Street Journals to give as a GIFT to that STOCKBROKER FRIEND of yours !!! The Depression of 1920–21 was an extremely sharp deflationary recession in the United States, shortly after the end of World War I. It lasted from January 1920 to July 1921. The extent of the deflation was not only large, but large relative to the accompanying decline in real product. A range of factors have been identified contributing to the depression, many relating to adjustments in the economy following the end of World War I. There was a brief Post-World War I recession immediately following the end of the war which lasted for 7 months. The economy started to grow, though it had not yet completed all the adjustments in shifting from a wartime to a peacetime economy. Factors identified as potentially contributing to the downturn include: returning troops which created a surge in the civilian labor force, a decline in labor union strife, changes in fiscal and monetary policy, and changes in price expectations. Following the end of the Depression of 1920–21, the Roaring Twenties brought a period of economic prosperity. The recession lasted from January 1920 to July 1921, or 18 months, according to the National Bureau of Economic Research. This was longer than most post-World War I recessions, but was shorter than recessions from 1910–12 and 1913-1914 (24 and 23 months respectively) and significantly shorter than the Great Depression (132 months). Estimates for the decline in Gross National Product also vary. The U.S. Department of Commerce estimates GNP declined 6.9%, Nathan Balke and Robert J. Gordon estimate a decline of 3.5%, and Christina Romer estimates a decline of 2.4%. There is no formal definition of economic depression, but two informal rules are a 10% decline in GDP or a recession lasting more than three years. The recession of 1920–21 was characterized by extreme deflation — the largest one-year percentage decline in around 140 years of data. The Department of Commerce estimates 18% deflation, Balke and Gordon estimate 13% deflation, and Romer estimates 14.8% deflation. The drop in wholesale prices was even more severe, falling by 36.8%, the most severe drop since the American Revolutionary War. This is worse than any year during the Great Depression (adding all the years of the Great Depression together, however, yields more severe deflation). The deflation of 1920–21 was extreme in absolute terms, and also unusually extreme given the relatively small decline in gross domestic product. Unemployment rose sharply during the recession. Romer estimates a rise to 8.7% from 5.2% and an older estimate from Stanley Lebergott says unemployment rose from 5.2% to 11.7%. Both agree that unemployment quickly fell after the recession, and by 1923 had returned to a level consistent with full employment. The recession also saw an extremely sharp decline in industrial production. From May 1920 to July 1921, automobile production declined by 60% and total industrial production by 30%. At the end of the recession, production quickly rebounded. Industrial production returned to its peak levels by October 1922. The AT&T Index of Industrial Productivity showed a decline of 29.4%, followed by an increase of 60.1% – by this measure, the recession of 1920–21 had the most severe decline and most robust recovery of any recession between 1899 and the Great Depression. Using a variety of indexes, Victor Zarnowitz found the recession of 1920–21 to have the largest drop in business activity of any recession between 1873 and the Great Depression. (By this measure, Zarnowitz finds the recession to be only slightly larger than the Recession of 1873–79, Recession of 1882–85, Recession of 1893–94 and the recession of 1907–08.) Stocks fell dramatically during the recession. The Dow Jones Industrial Average reached a peak of 119.6 on November 3, 1919, two months before the recession began. The market bottomed on August 24, 1921, at 63.9, a decline of 47% (by comparison, the Dow fell 44% during the Panic of 1907 and 89% during the Great Depression). The climate was terrible for businesses – from 1919 to 1922 the rate of business failures tripled, climbing from 37 failures to 120 failures per every 10,000 businesses. Businesses that avoided bankruptcy saw a 75% decline in profits. The Wall Street Journal is an English-language international daily newspaper published by Dow Jones & Company. The Journal newspaper primarily covers U.S. and international business and financial news and issues—the paper's name comes from Wall Street, the street in New York City that is the heart of the financial district. It has been printed continuously since being founded July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. Dow Jones & Company, publisher of the Journal, was founded in 1882 by reporters Charles Dow, Edward Jones and Charles Bergstresser. Jones converted the small Customers' Afternoon Letter into The Wall Street Journal, first published in 1889, and began delivery of the Dow Jones News Service via telegraph. The Journal featured the Jones 'Average', the first of several indexes of stock and bond prices on the New York Stock Exchange. Journalist Clarence Barron purchased control of the company for US$130,000 in 1902; circulation was then around 7,000 but climbed to 50,000 by the end of the 1920s. Barron and his predecessors were credited with creating an atmosphere of fearless, independent financial reporting—a novelty in the early days of business journalism. Barron died in 1928, a year before Black Tuesday, the stock market crash that greatly effected the Great Depression in the United States. Barron's descendants, the Bancroft family, would continue to control the company until 2007. Very good condition. This listing includes the 2 complete entire original newspapers, NOT just a clipping or a page of them. STEPHEN A. GOLDMAN HISTORICAL NEWSPAPERS stands behind all of the items that we sell with a no questions asked, money back guarantee. Every item we sell is an original newspaper printed on the date indicated at the beginning of its description. U.S. buyers pay priority mail postage which includes waterproof plastic and a heavy cardboard flat to protect your purchase from damage in the mail. International postage is quoted when we are informed as to where the package is to be sent. We do combine postage (to reduce postage costs) for multiple purchases sent in the same package. We accept payment by PAYPAL as well as by CREDIT CARD (Visa and Master Card) . We list thousands of rare newspapers with dates from 1570 through 2004 on Ebay each week. This is truly SIX CENTURIES OF HISTORY that YOU CAN OWN! Stephen A. Goldman Historical Newspapers has been in the business of buying and selling historical newspapers for over 45 years. Dr. Stephen A. Goldman is a consultant to the Freedom Forum Newseum and a member of the American Antiquarian Society. You can buy with confidence from us, knowing that we stand behind all of our historical items with a 100% money back guarantee. Let our 45+ years of experience work for YOU ! We have hundreds of thousands of historical newspapers (and their very early precursors) for sale.

Price: 40 USD

Location: Oxford, Maryland

End Time: 2024-12-29T22:02:52.000Z

Shipping Cost: N/A USD