The article says Smoot-Hawley came BEFORE the crash?
Well, that’s wrong. And, also the WWII did help us get out of the depression. If you destroy Europe and they can make things, your gonna do well, no matter what.
I believe that is correct!
Then FDR raised taxes for three years in a row. Great idea.
It is a generally accepted principle that the Depression did not end until early 1942.
Henry Morganthau, FDR’s Sec. of Treas. wrote FDR in May, 1939 that “we did not keep our promises” because the unemployment rate was stilll near 20%.
Smoot Hawley passed the house in May 1929, about a month before the crash. I think the author is saying that the market may have been reacting to the fear of its effects once they saw it pass the house. It wasn’t signed until June 1930.