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Between 1630 and 1880. Increased agricultural production.
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Cotton is now the main source of revenue for farmers in the Southern States of America
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Tobacco was the most valuable export from the U.S. until this date
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It could separate seeds from cotton almost 50 times faster than humans can. It rapidly increased production.
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Beginning of the Great Depression
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Kept interest rates very low!!!
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Improved banks freedom and benefited them greatly.
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This was a major event because it was proof that our economy was in serious jeporady.
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Puts higher tax penalties on young workers