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- Since the year 1929, the Liberal Party period began. It lasted 16 years and had to fight the global economic crisis. Also, during this period, there was great controversy bipartisan, creating many internal conflicts. One of the major problems in the crisis was the dependency of Colombia in the U.S for the purchasing of coffee, which was the backbone of its economy. The economic crisis in Colombia during the period of 1928 through 1933 was a devastating result of the previous years of prosperity based on high amounts of international loans and credits, high prices in exporting coffee, and a confident country that generated investment and cash flow. The same way Colombia prospered thanks to the US, it went down parallel to it in their time of crisis. The New York stock market collapsed, and the confidence within the country was low and protective. The investment stopped, as well as the loans, and Colombia was directly affected by that situation. There was a constant decrease in the exporting potential product of Colombia, coffee, as well as a cut in the international loans and investment. Eventually, the crisis in the U.S.A. generated a cut in urban employment within Colombia, diminished internal market, and other problematic social and economic situations. From the year 1933 to the year 1939, Colombia began to see a significant change in the country's industries, leaving behind the problems of urbanization in the twenties. Therefore, there was also an extensive agricultural development, strengthening the development of the economy and expansion of agriculture and livestock. During this period, coffee exports were very high. Coffee farmers managed to expand their crops; with the help of politics, they also tried promoting agriculture with the help of the “Consejo Nacional de Agricultura.” (en)
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