ly due to a significant drop in the money supply in the early 1930s. There was 54.8 billion dollars held in M2 accounts in 1929 and this dropped to 40.8 billion in 1933. I believe that the drop in money supply is largely due to the banks' inability to collect on loans invested and lost in the stock market crash. As the money supply decreased and the interest rates increased, consumers and investors had less money to spend on goods and services. The aggregate demand for goods and services decreased. Thioseph Elliott for the Holland Land Company. He modeled the
layout on Washington, D.C. and named it New Amsterdam. Despite
this official name the area continued to be known as Buffalo
Creek and eventually the name Buffalo became officiel.
In the War of 1812 the town was burned by the British and
their allies, but it was soon rebuilt after the war. The economy
prospered and the first steamship for the Great Lakes trade was
built in Buffalo. A mayor of Buffalo, Grover Cleveland, went on
in politdropped from 15.92 in 1932 to -6.76 in 1942. The drop
in interest rates encouraged a rise in investment
spending. The depression ended because investment
spending increased from 9.9 in 1932 to 137.3 in 1941.
This increased investment spending triggered growth in
employment and output of goods and services. ��� ��� ��� Γ���x��|�ە ��� C� ����� � =� DDD nnn � |zv ��� ���f����|��@B H������@" (���ڞ��P �8 >P �Ê ��� �f���ٺ���B Hڞ����" (g�ڞX
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