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Record #:
23353
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Abstract:
With the occurrence of the current economic downturn, past financial crisis should be remembered. The Panic’s of 1819, 1837, 1873, 1893, and 1907 were all caused by various changes in banking, railroads, currency and the like. The post-World War I recession hit Pitt County farmers hard, as did the Great Depression which brought a low point in Pitt County in 1931. Tobacco prices plummeted, until Dr. J.Y. Joyner intervened, poor families were fed at the Court House, and the East Carolina Teachers College raised vegetables and hogs to provide food for students, staff, and faculty. Many enterprises sprung up during these desperate times, including the use of the “Hoover Cart.”