...MONETARY AND CREDIT SYSTEMS DURING THE 19th AND 20th CENTURIES A requirement in English 2 ( Writing in Discipline ) Second Semester SY : 2012 – 2013 TF 7:00 – 8:30 am PRINCE JOHN A. ARCILLA AB – Economics 1 DR. YOLANDA T. TARIMAN PROFESSOR - ENGLISH II FEBRUARY 8, 2013 TABLE OF CONTENTS CONTENTS PAGE PRELIMINARY PAGE Title Page Table of Contents Outline CHAPTERS 1 Introduction Overview of the Topic 2 Discussion 3 Conclusion BIBLIOGPAPHY CURRICULUM VITAE ii INTERNATIONAL BANKING: HISTORICAL SYNTHESIS OF THE BASIC PROBLEMS AND DEVELOPMENTS OF THE MONETARY AND CREDIT SYSTEMS DURING THE 19th AND 20th CENTURIES Thesis Statement: Our historical synthesis focuses on the economic and political aspects of banking, with questions of industrial management and the credit economy taking second place. OUTLINE I CURRENCY AND MONETARY HISTORY IN THE 19th CENTURY 1 From Silver and Bimetal Currency to Gold Standard 2 The Development of the Bank Note into a Legal Tender A Bank Notes and Issuing Banks in England until Mid-19th Century B Peel’s Bank Charter Act C The Banque de France in the 19th Century D Overcoming the Federal System of German Issuing Banks E The United States’ Arduous Journey Towards the Federal System II BANKS AND BANKING FROM THE EARLY PHASE OF INDUSTRIALIZATION TO THE MIDDLE OF THE 19th CENTURY iii 1 Bank Types at the Beginning of the 19th Century A Private Bankers B Public Banks C...
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...Reformation The Reformation was one of the greatest religious and political movements of the 16th century, aimed at reforming the practises and beliefs of the Roman Catholic Church. Beginning in 1517, The Reformation was led by a German monk, known as Martin Luther. Luther argued that the Roman Catholic Church was corrupt and that it should be reformed, in attempt to making it fair, less greedy, and accessible to all people. He declared authority should be derived from the Bible, not the Pope or the Church, giving rise to Protestant systems of belief. This conflict caused a split in the Church, and separated the Christians of Western Europe into Protestants and Catholics. The disruption also triggered a series of wars, persecutions and the...
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...study the connection between the material culture that sprang to life after the Reformation in Europe and the urbanization that came with the Industrial Revolution in order to see if or if not it had any effects on constituting the European Identity. Starting first with analyzing the material culture of which the Italian Renaissance movement and then the Reformation planted its seeds, I want to follow the dynamics of social changes that slowly transformed the life in Europe from peasantry with only the Christian identity to nation-state citizenship with a European notion. In order to understand how the Industrial Revolution that started in the 19th century and spreaded across the continent affected Europe, it is first required to analyze the changes in the mentality of people that lived in Europe and the transformation the societies went through as a result of the Protestant Reformation that took place in the 16th century. Although the Industrial Revolution had basically been a drastic economic upheaval, it cannot be considered without its social causes and social results. How the humanist mindset that came up with the Renaissance had affected the daily lives of people and how this effect helped people to search for improvements in working and production have been widely discussed in several studies. In Medieval times, most of the peoples of Europe had depended on soil. Village life and agriculture were the way of living of most of the population. Trading was limited and under...
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...Colonialism: A political-economic phenomenon whereby various European nations explored, conquered, settled, and exploited large areas of the world. The purposes of colonialism included economic exploitation of the colony's natural resources, creation of new markets for the colonizer, and extension of the colonizer's way of life beyond its national borders. In the years 1500 – 1900 Europe colonized all of North and South America and Australia, most of Africa, and much of Asia by sending settlers to populate the land or by taking control of governments. The first colonies were established in the Western Hemisphere by the Spanish and Portuguese in the 15th – 16th centuries. The Dutch colonized Indonesia in the 16th century, and Britain colonized North America and India in the 17th – 18th centuries. Later, British settlers colonized Australia and New Zealand. Colonization of Africa only began in earnest in the 1880s, but by 1900 virtually the entire continent was controlled by Europe. The colonial era ended gradually after World War II; the only territories still governed as colonies today are small islands. http://www.answers.com/topic/colonialism#ixzz1lYMQdYfY http://en.wikipedia.org/wiki/Colonialism Colonialism is the establishment, maintenance, acquisition and expansion of colonies in one territory by people from another territory. It is a process whereby the metropole claims sovereignty over the colony, and the social structure, government, and economics of the colony...
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...Social class is made up of people with similar social status which are classified on the basis of prestige and esteem gained through accumulation of wealth and economic success. Each class (upper/middle/lower class) has a set of values, beliefs, attitudes and behaviour norms which are different from other classes. Quoting from Dr. Anthony Giddens, “A class is a large-scale grouping of people who share common economic resources, which strongly influence who share common lifestyle they are able to lead.” Despite the term ‘class’ first came into wide use in the early 19th century, reflecting changes in the structure of western European societies after the industrial revolutions of the late 18th century, replacing such terms as ‘rank’ and...
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...University Press, 2009. Pp. viii, 331. Allen’s book is an excellent example of the persuasiveness of the new economic history. It is solidly rooted in statistical data and uses sophisticated methods of economic analysis but its analysis is presented in plain English. He argues that the first industrial revolution occurred in northwestern Europe because its high wages during the early modern period encouraged technological innovation. Although high wages were initially a consequence of the demographic disaster of the Black Death, they were reinforced during the early modern period by the economic success of the region around the North Sea, first, in European trade and manufacturing, especially in wresting the textile industry from the Italians, and then in world trade. According to Allen, the first industrial revolution took place in Britain instead of the Low Countries primarily because of Britain’s abundant and cheap coal resources, combined with the central government’s ability to use mercantilist policies and naval power to reap the greatest benefits from an expanding European and world trade. Once it had taken the lead from the Dutch, and defeated the French, Britain used its comparative advantage to consolidate its dominant position through free trade until the late Victorian period when its technological innovations spread to its competitors. While he agrees that the political, cultural and scientific context of British industrialization was important to its primacy, his approach...
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...|eliminating Kant’s “things-in-themselves” (external reality) and making the self, or the ego, the ultimate reality. Fichte | |maintained that the world is created by an absolute ego, which is conscious first of itself and only later of non-self, or the | |otherness of the world. The human will, a partial manifestation of self, gives human beings freedom to act. Friedrich Wilhelm | |Joseph von Schelling moved still further toward absolute idealism by construing objects or things as the works of the | |imagination and Nature as an all-embracing being, spiritual in character. Schelling became the leading philosopher of the | |movement known as romanticism, which in contrast to the Enlightenment placed its faith in feeling and the creative imagination | |rather than in reason. The romantic view of the divinity of nature influenced the American transcendentalist movement, led by | |poet and essayist Ralph Waldo Emerson. | |C | |1 | | | |Hegel ...
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...Rizal Law and 19th Century Philippines LEARNING MODULE RATIONALE In this module, we will discuss the historical context of the Rizal Law. Before we tackle Jose Rizal’s life and works, it is important discuss its legal basis and the issues surrounding it for us to understand why we need to study this course and what we must achieve in studying it. Historians agree that every historical actor is a product of his time, therefore it is equally important and beneficial for our study to learn the historical context of Jose Rizal – the social, economic and political milieu of his time in order to contextualize our study of his life and works. Doing away with historical context, might mislead us from a genuine reading and understanding of Jose Rizal’s life and works. In order to achieve this, we will start our study by having a glimpse of the 19th century Philippines or the last century of Spanish colonial regime in the Philippine. LEARNING OUTCOMES The following are the learning outcomes we are expected to achieve at the end of the lesson: Understand the historical background and rationale of the Rizal Law and the Historical context of 19th Century Philippines • Explain the rationale of the Rizal Law • Discuss the historical context of the Rizal Law • Describe the Spanish colonial government by reading excerpts from selected works of propagandists • Relate the passage of Rizal Law to nation-building, patriotism and nationalism. • Examine the economic and socio-political milieu of the...
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...‘need’ and inequality have been at the centre of discussions and debates on social policy. Since the 19th century it has widely been accepted that the state has some responsibility towards attempting to fulfil some of civil society’s needs and the needs of those most at risk. Changing definitions and attitudes surround the concepts of need and inequality; this means any discussion of these instantly encapsulates the political and ideological debates which affect all aspects of social policy. Titmuss (ed. 1987) writes that ‘collectively provided services are deliberately designed to meet certain socially recognized ‘needs’; they are manifestations’ this means any changes within these are interrelated with those in society. Miller (1987) draws from Titmuss’s work explaining that the inequality which creates need is formed from the very nature of an advanced industrial society as ‘the costs of economic growth and stability are not evenly distributed’ he describes the welfare state as ‘compensation for the vulnerable who pay the prices of ‘progress’ (1987). This essay seeks to examine the concept of need within social policy by looking at how it became recognised in the 19th century and how it was defined in the 20th century. This will include looking at what social legislation has been borne out of its recognition. I will also look at the changing attitudes towards inequality and the left/right political and ideological debate over the relationship between inequality and need within...
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...Theories of radical nationalism and socialism became popular in the 19th century, when the Industrial Revolution had first started to really change things in Europe and in other Western countries. The quick changes in society during the 19th century created enormous social tensions and dissatisfaction among many. Workers, realizing that the wealthy had the most to gain from free market capitalism, turned to other ways of modernization including communism and socialism. Those who believed that they could achieve what they wanted by gradual reform of the existing political structure were socialists while those who believed that the old order needed to be completely replaced by force were communists. Others rejected the socialist emphasis on international class politics and proposed nationalism as another alternative to individualistic capitalism. Unlike socialists or communists, nationalists believed that there was nothing inherently wrong with capitalism. They just thought it should be regulated and made to benefit the nation as a whole in addition to the few individuals who owned the means of production. In either case, political philosophies that emphasized nation and class were responses to a changing world that had uprooted old social beliefs. Communism, which is also described as "Revolutionary Proletarian Socialism" or "Marxism," is both a political and economic philosophy. The Communist Manifesto is widely regarded as the founding documents of modern communism...
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...Labor Unions — Are They Still Relevent Labor Unions were formed in the mid-19th century in response to the changes brought on by the Industrial Revolution. The labor unions were established to help workers with low pay, unsafe working conditions and long hours—to name a few. Their main goal was to ensure that all working people were treated justly in the work force. “Working people have a lot of concerns in this economy. They want decent pay. They want benefits. And of course they want job security. All the reasons why they need union representation” (Crane, 2012). Is that statement still true today? Do labor unions want the best for the working person or are unions another example of something good gone bad? Many people believe Labor Unions were essential in the 19th century but now with government oversight and business practices, unions are no longer required. Labor Unions Needed Agriculture, manufacturing, mining, transportation, and technology had a profound effect on the social, economic and cultural conditions during the Industrial Revolution. As the revolution progressed, business moved from a mom-and-pop model to a machine-and-factory production model. Families quickly moved from the rural areas to the cities. They hoped to improve their standard of living. This meant ever member of the family had to work, regardless of sex or age. People worked for long hours for low wages, in dangerous and repetitive conditions, and with little-to-no job...
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...The Accomplishments and Failures of the 19th Century Tsars The nineteenth century was filled with a variety of tsars. There are two that deserve a great amount of focus: Alexander II and Alexander III. Alexander II hoped to change and resolve Russia and their social and economic problems. His son, Alexander III, was more conservative and wished to undo everything his father did. Alexander II ascended the throne at the age of thirty-seven. He was tsar of Russia from 1855-1881. Alexander II was referred to as the “Tsar Liberator.” One of the major accomplishments of Alexander II is that he was able to emancipate the serfs. Alexander II singed the emancipation manifesto on March 3, 1861. At his coronation he stated that it is better to abolish serfdom from above than to wait until it would abolish itself from below. (Riasanovsky 366) Prior to the emancipation there had been many peasant uprisings in the attempt to gain freedom. According to the official record, Vasilii Semevsky had counted 550 peasant uprisings in the 19th century prior to the emancipation of the serfs. (Riasanovsky 365) It is speculated that this number is very inaccurate and it is more likely that there were 1,467. Inna Ignatovich gave this break down, “281 peasant rebellions, that is, 19 percent of the total, in the period form 1801-1825; 712 rebellions, 49 percent, from 1826-1854; and 474 uprisings, or 32 percent, in the six years and two months of Alexander II’s reign before the abolition of serfdom.” (Riasanovsky...
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...Enlightenment and how did it influence the politics of the 19th century? The Enlightenment was, in its simplest sense, a body of writers and writings of 18th century Europe which advocated reason and the belief in human rationality above all else and challenged long-standing values and institutions which were based on traditional and religious beliefs. The political ideas of the Enlightenment, which can be best understood against the backdrop of 18th century absolutism and the dominance of Christian world-views, denounced the ‘divine right of kings’ and called for reform in governance (Gieben and Hall, 1992:23). These were the ideas that influenced 19th century politics, and gradually led to the switch from all-powerful monarchies to the democracies of the modern world. In this essay I shall give a brief overview of the Enlightenment whilst focusing mainly on its political ideas and put these ideas in context by describing the political landscape of the time. I will then discuss how these political ideas shaped the politics of the 19th century. I will limit myself to looking at the influence of the Enlightenment on European politics as that is where its affect was most sharply felt and was the main location for the Enlightenment movement (Gieben and Hall,1992:72). The Enlightenment was the emergence of new ways of thinking which came about mainly in 18th century Europe, although Enlightenment ideas can also be seen in the 17th century, for example in the writings of Thomas Hobbes and...
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...saliency coincides with the 19th century emergence of modern-industrial states, where social theorists such as Durkheim, Weber and Marx, theorised that status based social differentiation was replaced by the social class as the driving force in society. Ethnicity and racial differences were viewed as surviving anachronisms, dating from pre-modern, traditional societies. This analysis was shared by social commentators and policy-makers who operated with an often implicit view that assimilation of minority groups had either occurred, or was in progress. The trend towards global cultural homogenisation, typified by the metaphor of the "global village ", presaged a quickening of this type of development. Even in those industrial nations such as Australia, Canada or the USA which continued to receive large numbers of immigrants, assimilation was viewed as the inevitable process. By the 1960s, the ethnic rights movement and unrest in a number of the Western industrial countries led to increased questioning of assumptions that ethnic differences were of declining significance. The re-emergence of major ethnic divisions within the former USSR and Eastern Europe has coincided with a major growth of international population movements as a response to economic changes as much as political unrest or demographic pressures (Castles & Miller 1993;Kritz et al 1992; Stahl et al 1993). Together these changes have meant that in the last decade of the 20th century the...
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...Progressivism reached its peak in the United States during the late 19th century, in which it was a reform movement that many took part in to make the country excel in all areas of society including: politically, socially, and economically. Progressives wanted to eliminate waste and corruption, supported improved child labor laws, minimum wage legislation, graduated income tax, and equality for all citizens. With this, progressivism...
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