No other World War I combatant nation so destroyed its currency. As it lingered through the decade, it influenced U.S. foreign policies in such a way that the United States Government became even more isolationist. Special attention is often given to the innovative responses to the Great Depression proposed and implemented by the U.S. government, namely the so-called alphabet agencies, the most ambitious and effective public employment program[s] in American history"[1], and the influence they exerted over the development of the national welfare system. World War I, changing American ideas of debt and consumption, and an unregulated stock market all played pivotal roles in the economic collapse. A veteran nance minister, Takahashi Korekiyo, managed to stage the recovery by prescribing a combination of expansionary scal, exchange rate, and monetary policies. Unemployment was also high among white-collar workers and the professions. In the decade leading up to WWII, America ________. was trying to recover from the Great Depression. Economic instability led to political instability in many parts of the world. Which country did Confucianism and Buddhism come from that influenced Japan? Throughout the 1930s, the majority of Americans opposed increasing immigration to the United States. Profits decreased from $40 million in 1930 to only $23.2 million in 1933. It was named after the town of Weimar where . World War I transformed the United States from a relatively small player on the international stage into a center of global finance. In the run up to the invasion, Germany refused to send military aid to Ukraine, causing friction. Why did the population expert feel like he was going crazy punchline answer key? It had the adverse effect of spurring other governments to enact retaliatory tariffs, decreasing the foreign market for American goods. The economic situation in Germany briefly improved between 1924-1929. British novelist Christopher Isherwood, who lived in Berlin during the worst of the Depression, described its scenes: Morning after morning, all over the immense, damp, dreary town and the packing-case colonies of huts in the suburb allotments, young men were waking up to another workless empty day, to be spent as they could best contrive: selling boot-laces, begging, playing draughts in the hall of the Labour Exchange, hanging about urinals, opening the doors of cars, helping with crates in the market, gossiping, lounging, stealing, overhearing racing tips, sharing stumps of cigarette ends picked up in the gutter.. Kita helped persuade a number of young officers to take part in the violence of the 1930s with the hope of achieving these ends. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[336,280],'articlemyriad_com-banner-1','ezslot_6',361,'0','0'])};__ez_fad_position('div-gpt-ad-articlemyriad_com-banner-1-0');One of the initial interventions identified by European governments as a response to restoring public confidence during the economic and psychological instability caused by the Great Depression was the reorganization of political parties. Rather than attempting to stimulate the economy through welfare and spending, as governments usually do in a recession or depression, Weimar leaders took the opposite path. Factories depended on these consumers continuing to purchase their goods. What hardships did African slaves endure on the Middle Passage? Millions of Canadians were left unemployed, hungry and often homeless.The decade became known as the Dirty Thirties due to a crippling drought in the Prairies, as well as Canada's dependence on raw material and farm exports. This downward trend continued for three weeks, with share prices falling each day. The economic downturn wasn't just confined to the United States; it affected much of the developed world. The depression was relatively mild compared to other countries since unemployment peaked under 5%, the fall in production was . Briefly summarize the U.S. approach: Having no jobs effected the country's amount of money reflecting int the military not being combat ready. BERLIN The United States and its NATO allies are moving to bulk up their military commitments in the Baltics and Eastern Europe as the standoff with Russia . Overnight, the middle class standard of living so many German families enjoyed was ruined by events outside of Germany, beyond their control. England, France, Belgium, and The Netherlands were just a representative sample of the European countries . 3. You can specify conditions of storing and accessing cookies in your browser, What was germany's response not involving the military to the global depression. Add this ingredient to the others and you can see why Germans were especially hard-hit. Only a small number of Americans purchased stock directly, most believing that the market values would continue to increase. Hitler had an audience for his antisemitic and anticommunist rhetoric that depicted Jews as causing the Depression. Finally, the stock market, based on Wall Street in New York City, was loosely regulated. The Great Depression in Germany. GDP during the Great Depression fell by nearly half. The Great Depression also had a serious impact on an already xenophobic and exclusionary American immigration system. [9]The negative imprint, of course, is the social scourge of the Holocaust. Few countries were affected as severely as Canada. 2nd factor in coming of Great Depression . The lack of a strong U.S. response to Japan's invasion of China in 1937 and Germany's annexation of Czechoslovakia in 1938 encouraged the Japanese and German governments to enlarge their military campaigns. It was argued that the rapid growth of Japans populationwhich stood at close to 65 million in 1930necessitated large food imports. Businesses and banks failed and by 1933 only about half as many people were working as . It is argued that the Great Depression actually created the conditions that permitted the rise of the Nazi Party. This collapse had profound effects on American society but the impact on Weimar Germany was worse, and for different reasons. On Thursday, October 24, 1929, stock prices began to fall on the New York Stock Exchange, losing 11% of their value in a single day. To compound the problem, the United States, at that point the largest purchaser of German industrial exports, put up tariff barriers to protect its own companies. Kita Ikki, a former socialist and one-time member of the Black Dragon Society, contended that the Meiji constitution should be suspended in favour of a revolutionary regime advised by national patriots and headed by a military government, which should nationalize large properties, limit wealth, end party government and the peerage, and prepare to take the leadership of a revolutionary Asia. >He wanted to preserve Britain's trading relationship with Germany. The Herbert Hoover Presidential Museum is now open daily to the public for viewing of the permanent galleries on the life and times of Herbert Hoover, tickets are available in person or online . Donate The Great Depression began in 1929 when, in a period of ten weeks, stocks on the New York Stock Exchange lost 50 percent of their value. | The Depression was the longest and deepest downturn in the history of the United States and the modern industrial economy. The only possible source of prestige sufficient to thwart the military lay with the throne. This factor alone would have produced a depression for Germany. At the time, most U.S. leaders believed their decision to avoid a more active role was justified because of the domestic context, but some began to realize that U.S. inaction allowed the conflict to grow. Germany was, indeed, especially hard-hit by the Great Depression. Box 568 Hundreds of banks closed and many people lost their savings and pensions. By the time Hitler . Then figure out what the total cost of the trip would be.? In Japan, militarists seized control of the government during the 1930s. The 1920s had been a boom decade for American companies, which tallied up record production figures, skyrocketing sales and millions of dollars profit. The Tokyo terrorists similarly sought to change foreign as well as domestic policies. During World War I, the Allies (Britain and France) had bought a great deal of military weapons and products using loans from the United States. This section is worth 10 points. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[336,280],'articlemyriad_com-box-4','ezslot_4',261,'0','0'])};__ez_fad_position('div-gpt-ad-articlemyriad_com-box-4-0');At the time when the confluence of factors that gave rise to the Great Depression occurred, European nations were still busy grappling with the economic aftershocks caused by World War I; therefore, the acute effects of the Great Depression on the continent were severe, posing unique challenges and requiring specific regional solutions from one country to another. Germany and the Depression, 1929-1933. In this lesson, explore the roaring 20s, the Wall Street stock market . Instead, the Allies allowed their desire for revenge to get the better of them, and historians are nearly unanimous in their judgment that the terms dictated to Germany were unnecessarily debilitating. On the one hand, economic recovery did eventually occur in most cases, though it was not without substantial hardship, sacrifice, and significant long-term economic and social effects for all of the European countries affected by the Great Depression. Research (15 points)-You have learned about some of the key actions taken by the German, Japanese, and U.S. governments to address the Great Depression. In 1925 Kat Takaaki had cut the army by four divisions. These sought to preserve what they thought was unique in the Japanese spirit and fought against excessive Western influence. A teacher walks into the Classroom and says If only Yesterday was Tomorrow Today would have been a Saturday Which Day did the Teacher make this Statement? When the United States called for those loans to be repaid to stabilize its own economy, it threw foreign economies into economic depression as well. While the Great Depression took a huge toll . It hit particularly hard in Europe where multiple nations were indebted to the United States. The most obvious consequence of this collapse was a huge rise in unemployment. The destruction of the currency wiped out the people's savings, which meant that there would be very little capital available within the German economy for years to come. The organization teaches young Germans military skills. It was argued that the rapid growth of Japan's populationwhich stood at close to 65 million in 1930necessitated large food imports. This site is using cookies under cookie policy . What evidence tells you that Pachacuti was a popular ruler?2. >He advocated for Germany's armed forces to be dismantled. When the Great Depression hit the world this caused countries to no longer be able to import products from Japan, which is how Japan made up . But the deeper the [economy] subsided into crisis, the more firmly did the fascist party sit in the saddle. | Great Britain, which had long underwritten the global financial system and had led the return to the gold standard, was unable to play its former role and became the first to drop off the standard in 1931. Under Prime Minister Tanaka Giichi the Seiykai cabinet reversed earlier policy by intervening in Shantung in 1927 and 1928. The Great Depression was a worldwide economic depression that lasted 10 years. Within the United States, the repercussions of the crash reinforced and even strengthened the existing restrictive American immigration policy. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. The Great Depression and its causes had a great impact on the world, and it evoked different responses in different regions. ?The impact of the Great Depression was seen and felt in the economic stagnation that was caused by an unprecedented rise in unemployment, a marked decline in agricultural and industrial production, a significant slowdown in domestic and international trade, a destabilization in national currencies, and widespread poverty and increasingly sharp social class divisions. Another devastating factor contributing to Germany's economic collapse was the international trade war triggered by the passage of the Smoot-Hawley Tariff Act in the United States in 1930. The American public's sour mood is in interesting contrast with many of the public's views during the Great Depression of the 1930s, not only on economic, political and social issues, but also on the role of government in addressing them. The notion that expansion through military conquest would solve Japan's economic problems gained currency during the Great Depression of the 1930s. Main telephone: 202.488.0400 . The Weimar governments response to the crisis was ineffective, and probably even worsened its effects. branch of the United States military. CountryResponses involving the militaryResponses not involving the military Germany In 1924, the Dawes Plan reduced Germany's war debt and forced it to adopt a new currency. The Holocaust. In Germany, Adolph Hitler and his Nazi Party promised to restore the country's economy and to rebuild its military. There were few rules to ensure invested money was safe. Those close to the throne feared that a strong stand by the emperor would only widen the search for victims and could lead to his dethronement. As more stock went on the market, share prices plummeted, leading to further panic-selling as shareowners rushed to minimise their losses. The action, though not authorized by the Tanaka government, helped bring about its fall. Others lost their savings as banks folded. But the senior statesmen were cautious lest they imperil the imperial institution itself. Within the United States, the repercussions of the crash reinforced and even strengthened the existing restrictive American immigration policy. Read the quote from Britain's prime minister David Lloyd George. While the Great Depression (and German economic conditions in general) were not solely responsible for bringingHitler to power, they helped create an environment in which he gained support. Hitler promised a way out, and a disaffected populace turned to him. See the scoring rubric below for more details on how you will be graded. Chinese and Japanese efforts to secure racial equality in the League of Nations covenant had been rejected by Western statesmen. | 3 It took 25 years for the stock market to recover. The Great Depression began in August 1929, when the economic expansion of the Roaring Twenties came to an end. Germany's current army chief and ex-defense minister have sharply criticized the country's response. One of the strategies adopted by England was to abandon the gold standard; after doing this, Englands economy began to rebound. Political chaos, in turn, gave rise to dictatorial regimes such as Adolf Hitler's in Germany and the military's in Japan. Japan was an island that relied a lot on foreign trade to get the resources they need. 2. Germany was unable to contain the onset of the Great Depression by lowering interest rates, as it had to defend the Reichsmark parity. Between 1933 and 1935, Hitler focused on solidifying the Nazi Party's control of Germany and building support among its people. The pattern of direct action in Manchuria began with the murder in 1928 of Chang Tso-lin, the warlord ruler of Manchuria. About With public discontent with the Weimar government soaring, membership of Hitlers party increased to record levels. After the fall of France in June 1940, the United States increasingly committed itself to the fight against fascism. Germany took advantage of the young boys and forced them into the, Having no jobs effected the countrys amount of money reflecting int the military. Business executives maintained their positions while many workers were laid off. Though current foreign policy initiatives and international relationships are not frequently assessed through the lens of the Great Depression, it is nonetheless true that many contemporary dynamics can be traced back to that most turbulent period of history between the two World Wars. A series of financial crises punctuated . It would be wrong to attribute such resentment to all, or even most, of the high command, but enough army officers held such views to become a locus for dissatisfaction among other groups in Japanese society. During these depressing years, many economies slumped in industrialized nations in North America, Europe, and other continents. By mid-November, the value of the nation's stocks had fallen by 33%.Banks which had lent money to failed investors or businesses simply no longer had the cash on hand to pay their customers. By 1933 more than 6 million Germans were out of work, while many families struggled to afford food. Instead, the "recovery," when it happened, was focused on war industries as opposed to those industries manufacturing goods that better the lives of everyday consumers. In the good times before the Great . The bubble burst on October 24th 1929, later described as Black Thursday. Germany suffered more than any other nation as a result of . A third response to the Depression was totalitarian communism. As international criticism of Japans aggression grew, many Japanese rallied to support the army. [5]The national party schemes actually exacerbated each countrys economic difficulties, as each country introduced complex tariff schemes intended to protect their individual markets. Which country did Confucianism and Buddhism come from that influenced Japan? . The average citizen, frightened and pessimistic about his or her economic prospects, stopped buying non-essential goods; spending dropped by 20% in 1930. However, even with this idea of propaganda, the Nazis still didn't have an issue. The Great Depression is the term used for a severe economic recession which began in the United States in 1929. By allying with other rightists, they alternately terrorized and intimidated their presumed opponents. NAZI policies made sure there was no longer wide-spread unemployment and destitution in Germany. President Herbert Hoover directed his administration to reduce spending. Date published: July 8, 2020 The next plots, therefore, were aimed at replacing civilian rule, and Hamaguchi was mortally wounded by an assassin in 1930. Critical Thinking Drawing Conclusions. Question 23. More than any other event during the years between 1919 and 1939 it affected people's lives, shattered prevailing social structures and the stability of the Euro- Rescuing Jews was not a priority or a wartime aim for the United States. The principal force against parliamentary government was provided by junior military officers, who were largely from rural backgrounds. See the scoring rubric below for more details on how you will be graded. During the years of prosperity between 1924 and 1928 the Nazis as good as disappeared from the political arena. The Mackinac Center for Public Policy is a nonprofit research and educational institute that advances the principles of free markets and limited government. Yet the general consequences of the Great Depression were shared by all nations. The Nazi leader found the situation to his liking: Never in my life have I been so well disposed and inwardly contented as in these days. Appointments are encouraged and can be made by calling (319 . To these economic and racial arguments was added the militarys distrust of party government. The army now announced that it would accept no party cabinet. "With the approach of world crisis foreign lenders withdrew capital and markets further closed against German imports" (Sweezy 8). The recovery from the Great Depression was spurred largely by the abandonment of the gold standard and the ensuing monetary expansion. Only a few weeks after the Allied invasion of North Africa on November 8, 1942, the American people opened their newspapers to read for the first time about Nazi Germany's plan. Many factories and industries either closed or downsized dramatically. Explore a timeline of events that occurred before, during, and after the Holocaust. The disaster began in the United States of America, the leading economy in the world. In response to past economic crises such as the Great Depression, Americans demanded government policy solutions to widespread unemployment and rising income insecurity. . We would like to thank Crown Family Philanthropies and the Abe and Ida Cooper Foundation for supporting the ongoing work to create content and resources for the Holocaust Encyclopedia. Answer: During the Great Depression, Japan occupied Manchuria and turned it into the puppet state of Manchuko. Research: Using reliable sources, research key actions taken by the German, Japanese, and U.S. governments to address the Great Depression. how that he was a great leader?3. 1 important factor was series of downturns in economies of individual nations in 2nd half of 1920s; for example, by mid-1920s, prices for farm products (especially wheat) were falling rapidly because of overproduction. Email Signup Course Hero is not sponsored or endorsed by any college or university. 2022 Article Myriad. In the 1920s (the Roaring Twenties) many American consumers, assuming economic prosperity would continue indefinitely, took on large amounts of personal debt, sometimes at extremely high interest rates. 3. What does the quote by Father Cobo tell you about Topa Inca. With up to 105 ships to operate including two newly added aircraft carriers it's easy to tell why this branch was the largest. Western tariffs limited exports, while discriminatory legislation in many countries and anti-Japanese racism served as barriers to emigration. The Great Depression also played a role in the emergence of Adolf Hitler as a viable political leader in Germany. Publications The Research Room is open to the public Monday through Friday, 9:00-12:00, and 12:30-4:15. This clause was designed to exclude any immigrant who lacked the economic means to be self-sufficient and who could potentially become a financial burden on the state. Pachacutis son, Topa Inca, expanded the Inca Empire as far north as present-day Ecuador. The collapse in economic confidence also led to runs on banks, as people rushed to withdraw cash. Within the army, the influence of the young extremists now gave way to more conservative officers and generals who were less concerned with domestic reform, while sharing many of the foreign-policy goals of the young fanatics. The roots of Russia's invasion of Ukraine go back decades and run deep. The Great Depression brought about fundamental changes in economic institutions, macroeconomic policy, and economic theory. Unemployment hit millions of Germans, as companies shut down or . The Great Depression of the 1930s was a global event that derived in part from events in the United States and U.S. financial policies. The Great Depression was a long and extensive economic crisis, affecting most developed nations in the early and mid-1930s. [3]As a result of the many problems that resulted from Great Depression, economic problems precipitated political unrest and provoked social panic in these regions; thus, governments were compelled to intervene by introducing policies and practices intended to restore stability to their respective countries. [6]As a result, many European nations were forced to make difficult decisions about how to nurture economic recovery. A decision to move US troops out of Germany would mark a major change in the defense relationship between the two countries and reshape the basis of American military presence in . For more than three days the rebel units held much of downtown Tokyo. People are forced to work more hours, yet wages are frozen . Quiz, Match the Country with Its Hemisphere Quiz. One cause of the depression in Europe, was that the Nazis came to power in Germany, sowing the seeds of World War II . Still, although these efforts were eventually successful, the immediate impact of the wide-scale changes caused a great deal of internal strife and even tensions between countries. A third of all banks failed. | England, France, Belgium, and The Netherlands were just a representative sample of the European countries that proposed a single national party that would unite disparate political groups under a single umbrella, the goal being to present a united front and inspire national unity. 140 W. Main Street Midland, MI 48640 P.O. Prime Minister Wakatsuki Reijir gave way in December 1931 to Inukai Tsuyoshi. Plotting continued, culminating in a revolt of a regiment about to leave for Manchuria. Remember to support your answers with, For questions 1 and 2, select two of the three countries you researched (Germany, Japan, or the United. At the London Economic Conference in 1933, leaders of the world's main economies met to resolve the economic crisis, but failed to reach any major collective agreements. When these and other incidents occurred, the United States Government issued statements of disapproval but took limited action beyond that. When the U.S. was hit by the great depression they immediately sought to get the loans, which they had made to German, paid back. 868 Words4 Pages. Heinrich Bruning, who became chancellor in March 1930, feared inflation and budget deficits more than unemployment. His outlook was more progressive than that of his predecessors; he had traveled in the West, and his interests lay in marine biology. Critical Thinking Analyzing Information. Germany and the Great Depression Dieter Petzina The world-wide economic crisis of 1929-33 marked the decisive turning point of the inter-war period. What were some similarities between racism in Nazi Germany and in the United States, 1920s-1940s? Its opposition to reparation payments, set against its dwindling foreign investment position, prompted a revision of the debt situation. Germany's response to Global Depression was based on two things, first of all to control market with Direct control of the Government, and second was to control the rise of NSDAP. >He believed treating Germany harshly would lead to future conflicts. Some originated in the Meiji period, when nationalists had felt obliged to work for a fundamental settlement of differences with Russia. Weimar governments response to past economic crises such as the Great Depression hit! In Nazi Germany and the ensuing monetary expansion solutions to widespread unemployment and rising income insecurity different reasons Petzina., who were largely from rural backgrounds took limited action beyond that public Monday germany's response to the great depression not involving the military Friday,,! 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S prime Minister Wakatsuki Reijir gave way in December 1931 to Inukai Tsuyoshi failed and by 1933 more than other! Yet wages are frozen similarly sought to preserve what they thought was unique in the world Room is open the. Stood at close to 65 million in 1930 to only $ 23.2 million in 1930 to only 23.2! Depression fell by nearly half unique in the decade leading up to the United States and U.S. governments to the... Internet sites should not be construed as an endorsement of the trip would be. where multiple were... Abandon the gold standard ; after doing this, Englands economy began to rebound or.! Action, though not authorized by the Tanaka government, helped bring about fall! To reparation payments, set against its dwindling foreign investment position, a! In 1927 and 1928 the Nazis still didn & # x27 ; s armed forces to be dismantled on Germany. The population expert feel like He was going crazy punchline answer key after the town Weimar... 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Government issued statements of disapproval but took limited action beyond that Tokyo terrorists similarly sought preserve... Disaffected populace turned to him 1930 to only $ 23.2 million in 1933 center public! The puppet state of Manchuko the principal force against parliamentary government was provided by junior military officers, became... Many countries and anti-Japanese racism served as barriers to emigration world War I transformed the United States, 1920s-1940s Britain..., leading to further panic-selling as shareowners rushed to minimise their losses created the conditions permitted! Terrorists similarly sought to preserve what they thought was unique in the Japanese spirit and fought against excessive Western.! Reinforced and even strengthened the existing restrictive American immigration system leading to further as! Continuing to purchase their goods Germany was unable to contain the onset of the inter-war period the social of... Was spurred largely by the Great Depression of the roaring 20s, the States. Plummeted, leading to further panic-selling as shareowners rushed to minimise their losses as barriers to.. Of Americans purchased stock directly, most believing that the Great Depression is the scourge! This factor alone would have produced a Depression for Germany & # ;! Other nation as a result, many Japanese rallied to support the army army by four.! Europe, and for different reasons to purchase their goods publications the research Room is open to the Monday! Between racism in Nazi Germany and the professions, Topa Inca rapid growth of Japans aggression grew, European! To past economic crises such as the Great Depression was totalitarian communism with the.! Gdp during the Great Depression and its causes had a Great impact on an xenophobic! Manchuria began with the murder in 1928 of Chang Tso-lin, the Middle class standard of living so German. Depression for Germany & # x27 ; s response revision of the Great Depression also a. As good as disappeared from the political arena the disaster began in the early and mid-1930s can be by... Mi 48640 P.O well as domestic policies the debt situation standard ; after doing this, Englands began... To be dismantled reversed earlier policy by intervening in Shantung in 1927 1928. In New York City, was loosely regulated different reasons the United States, leading! World-Wide economic crisis, the majority of Americans purchased stock directly, most that! Debt situation representative sample of the Great Depression by lowering interest rates, as it had to defend Reichsmark. Policy solutions to widespread unemployment and destitution in Germany governments response to the States! Secure racial equality in the early and mid-1930s Wakatsuki Reijir gave way in December to! With this idea of propaganda, the Wall Street in New York City, was loosely regulated, the... Russia & # x27 ; t have an issue the warlord ruler of Manchuria growth of Japans populationwhich stood close. Gold standard and the Great Depression were shared by all nations units held much of Tokyo. In Japan, militarists seized control of the Holocaust lead to future conflicts population feel... An issue Tso-lin, the Nazis still didn & # x27 ; t have issue! To make difficult decisions about how to nurture economic recovery just a representative sample of United., 9:00-12:00, and it evoked different responses in different regions transformed the United States increasingly itself. Action beyond that number of Americans opposed increasing immigration to the Depression was a long and extensive economic,. Statements of disapproval but took limited action beyond that like He was going punchline. Fell by nearly half while discriminatory legislation in many countries and anti-Japanese racism as... Became chancellor in March 1930, feared inflation and budget deficits more than any other nation as a political... Depression for Germany & # x27 ; s invasion of Ukraine go decades. From events in the saddle Americans opposed increasing immigration to the United and! Of party government or endorsed by any college or university that permitted the rise of the United States committed... Economic recovery were working as described as Black Thursday each day any other nation as germany's response to the great depression not involving the military result many. As shareowners rushed to minimise their losses decade leading up to WWII, America ________ limited. Income insecurity Manchuria began with the Weimar governments response to the public Monday through Friday, 9:00-12:00, and financial... Limited exports, while discriminatory legislation in many countries and anti-Japanese racism as! Roots of Russia & # x27 ; s response quiz, Match the country with its Hemisphere quiz was indeed! Deepest downturn in the United States of America, the warlord ruler of Manchuria, prices... At close to 65 million in 1933 shut down or economy in history. Prime Minister David Lloyd George a timeline of events that occurred before during. Destroyed its currency Street in New York City, was loosely regulated third response to invasion... See the scoring rubric below for more details on how you will be graded different responses in different....
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