'Early 20ths' is certainly wrong. Your rendering makes sense. However, the Great Depression lasted throughout the 1930s and America probably didn't show much recovery until well into the 40s, which can hardly be called 'the early 20th century'.
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AngliholicBut what does "with American reeling from the Great Depression" refer to?Is it the word "reeling" that you need help understanding? Dictionary synonyms of "reeling" are staggering and stumbling. This usage of "to reel" is defined as "...to sway, esp under the shock of a blow..."