...In the 1890s, the Progressive Era began when the American people focused their attention on the social problem results of urbanization, immigration and industrialization. Women were not allowed to vote during this time. However, most of them exercised what they considered to be their role in the society by changing the public opinions. Additionally, there were an increasing number of reforms meant to change the role of the women in the society such as women’s suffrage. For instance, Eleanor Roosevelt played a major role in enhancing wages, social welfare, working conditions, education and health. Eleanor remains a major historical figure in promoting the role of women in...
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...Preliminary draft The First Global Emerging Markets Investor: Foreign & Colonial Investment Trust 1880-1913 David Chambers and Rui Esteves∗ September 2011 Abstract: The Foreign and Colonial Investment Trust (FCIT) is the oldest surviving closed end fund in the world today. Its early success was related to its identification of a missing market, namely, the provision of a wholesale diversified investment vehicle for the investing public. Whilst much research has been conducted on aggregate international capital flows in this period, little work has been undertaken on the prime investment institutions. This micro-study seeks to fill this gap by undertaking detailed quantitative analysis of the leading investment trust investing widely in emerging markets during the first era of financial globalisation before WWI. The history of this flagship investment trust over more than three decades up to 1913 provides an insight into the relative success of this institutional innovation as well as into the risk and returns of investing in global emerging markets over a century ago. ∗ David Chambers (d.chambers@jbs.cam.ac.uk) is at Judge Business School, Trumpington Street, Cambridge CB2 1AG, United Kingdom. Rui Esteves (rui.esteves@economics.ox.ac.uk) is at the Dept of Economics, Oxford University, Manor Rd Building, Oxford OX1 3UQ, United Kingdom. We thank Foreign and Colonial for access to their archives and Ben Chabot...
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...scholarly books on the subject.1 Until three years ago the consensus view among economists on the issue of the international integration of financial markets was very positive. The benefits of open capital markets stressed include: optimal international resource allocation; intertemporal optimization; international portfolio diversification and discipline on policy makers.2. However, the recent spate of crises in Latin America and Asia has led some to argue that the costs of complete liberalization of financial markets for emerging countries may outweigh the benefits.3 The paper focuses on the globalization of financial markets from the historical perspective of the past 120 years. In Section 2, I summarize the empirical evidence on the international integration of financial markets from 1880 to the present primarily based on my research with Barry Eichengreen and that of Maurice Obstfeld and Alan Taylor. This research shows that globalization has followed a U-shaped pattern for both stocks and net flows of foreign investment relative to GDP over the period 1880 to 1998. The ratios of both the stocks and net flows of foreign investment relative to GDP in the...
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...1). I believe Zinn's overall thesis was the importance of imperialism overseas for the United States during the 1890’s and how its effect. Zinn illustrates “The profit system, with its natural tendency for expansion, had already begun to look overseas. The severe depression that began in 1893 strengthened an idea developing within the political and financial elite of the country: that overseas markets for American goods might relieve the problem of under consumption at home and prevent the economic crises that in the 1890s brought class war” (290). The United States believed in capitalism and imperialism gave opportunities to expand oversea and not just limit to the United States. With imperialism overseas this would better the economy for...
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...Foster Brianna Gomez Cristina Gonzalez Isabel Ortega Ricardo Ruiz The Rise of a Mass Society Summary The word Gilded is best described in the words of writer Mark Twain from his novel written in 1873; The Gilded Age: A Tale of Today. When asked today what we thought Gilded means people think of this novel and describe Gilded as a form a greedy political corruption. The first gilded age was in 1874 to 1900. Twains book and definition of Gilded definitely summarized the corruption in public lives during the late 1800s. The term “Free Market” is a voluntary agreement of the exchange between two or more people in society. The type of exchange do vary and in any combination of two economic goods either tangible commodities or the services from another person. (Rothbard, Murray, N. 2008) Like many new things there are benefits as well as disadvantages to any system. The Free Market has its high points one of which helped society out of the first gilded age in the 1890s. However even though the free market was successful certain social classes still struggled and did not get the opportunity to enjoy what the market had to offer. The department store was introduced to society back in the nineteenth century. The very first real department store was owned by a man named Aristide Boucicault in Paris, France. Before the free market Aristide sold differently than other houses, he sold dry good and specialty that came before the four ways to sell the goods. The four stages were;...
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...hopefully answer the question that was originally asked. The United States laws that are in place currently are typical effective as control measures to ensure fair business practices are followed. Determining the success or failure of specific legislation or regulations can be relative to what angle you are looking from. With anti-trust laws we are insured safeness from unreasonable trade, price discrimination and unfair and anti-competitive business practices. The Sherman Anti-Trust Act In 1890, Congress enacted the Sherman Anti-Trust Act, which is a law designed to restore competition and free enterprise by breaking up monopolies. The Act of July 2, 1890 (Sherman Anti-Trust Act) states that: “This Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade. This includes agreements among competitors to fix prices, rig bids, and allocate customers, which are punishable as criminal felonies.” (The Act of July 2, 1890 pg. 1) The original intention of the Sherman Antitrust Act was to protect consumers from big businesses that were using unscrupulous means to raise...
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...History revision America 1890-1945 Time line Key: Bold and Underlined show events, policies or people of influence to US history from 1890-1945 RED: Political GREEN: Economic BLUE: Social BLACK: International affairs 1890- The accession of the Idaho and Wyoming brings the number of states in the Union to 44. The US Census notes that there is no longer a moving frontier in the American West. The Sherman Antitrust Act passed by Congress. 1896- William McKinley’s election victory marks the beginning of a lengthy period of Republican political dominance. 1898- Victory in the Spanish-American war marks the rise of ‘American Imperialism’ and establishes control over Cuba and the Philippines 1901- Theodore Roosevelt becomes president after the assassination of McKinley. The Platt Amendment is passed by Congress 1904- Thedore Roosevelt proclaims the Roosevelt Corollary to the Monroe Doctrine after etsablishing US influence over Panama. 1905- President Roosevelt acts as mediator in the Treaty of New Hampshire ending the Russo-Japanese War. 1912- New Mexico and Arizona achieve statehood, bringing the number of states in the Union to 48. The Republican Party splits; Theodore Roosevelt runs for president on behalf of the ‘Bull Moose’ Progressive Party, ensuring the defeat of President Taft. Woodrow Wilson wins the Presidency for the Democrats 1914- War begins in Europe. The USA proclaims neutrality. President Wilson send US forces to occupy the port of Vera Cruz in Mexico...
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...and Banking System of: Argentina I. Table of Contents 2 II. Geography 4 III. History of the Country 6 IV. The Country's Financial System a. Historical Overview 10 b. Present Monetary Laws and Regulations 11 c. Types of Financial Institutions operating in the country 12 d. The Central Bank 12-13 e. Bank Regulation 13 f. Commercial Banks Operating in the country 15 1. Commercial 15-16 2. Savings & Mortgage Banks 17 3. Other Financial firms 17 V. Country’s Balance of Payment and Balance of Trade- Principal Sources of Exports, Imports, investments, and funds transfers, etc. 18 VI. Foreign Reserves 19 VII. Current Situation of the country's currency 20 VIII. Risk those banks in the selected country face- such Currency, Political, Regulatory, Crime, etc. 20 IX. What is the Country doing about Preventing, Detecting and Eradicating Money Laundering and Terrorist Financing? 21 X. Important Bank Failures and Scandals in the Country. 22 XI Summary and Conclusion: 22-23 XII What is the Future Outlook for this Country and its Financial System? 23 XIII Would you Approve Lines of Credit for Banks in this Country? 24 Explain Your Yes or No Decision. XIV Appendices 25 XV Works Cited 31...
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... Mexicans, and Anglos in Arizona.” In the first chapter, Meek mentions how ‘hundreds of Americans moved into the territory to improve their fortunes” (15). The United States changed dramatically from 1865 to 1912. The Southwest went through many changes as well during these times. Many changes occurred in industrialization, foreign affairs, government, as well as in society and culture. The events that took place within this time period helped shape this country into what it is today. It affected Native Americans in many ways; some beneficial, some not so much. In the first half of Eric Meek’s Border Citizens, he writes about the ethnic heterogeneity in Arizona between 1850 and 1920. He discusses agriculture, its mechanization, and the growth of several industries in the state, including mining. During the 1830s and 1840s about 100,000 Natives were moved west. The tragic “Trail of Tears” was part of this era, and so were the first western Native American reservations. The continued westward movement frustrated the attempts of U.S. policy makers to achieve a peaceful solution to the Native American problem. When many of these removed tribes signed military pledges of support for the Confederacy during the Civil War, further excuses for taking their land were now available for the many voices of Manifest Destiny. Industrial development began with the railroad, with the help of Republican governments, who provided subsidies, loans and tax exemptions to railroad corporations...
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...U.S. History U.S. History Unit One Pre-Columbian & Colonial America (Ch. 1-5) * Years- 33,000 B.C.-1763 * Presidents-none * Foreign Policies/Key Events: People migrated from Eurasia across Beringia to Alaska and spread south to the Americas. * Domestic Policies/Key Events 1) Various European settlements were established in the Americas. 2) 16th century, Europeans brougth new staples to the Americas and vice-versa. 3) Spanish exploreres were first Europeans to arrive with Christopher Columbus' second expedition to Puerto Rico on November 19, 1493. 4) First successful English colony was established in 1607, on the James River at Jamestown. 5) The Pilgrims established at Plymouth Colony. 6) Mayflower Compact was established for people to govern themselves. 7) Colonies characterized by religious diversity many congregatinalists in the Middle colonies. 8) First Great Awakening in the 1740s led by Jonathan Edwards. 9) French and Indian War (1754-1763) was a watershed event in the political development of the colonies. 10) Stamp Acts of 1765 was enforced and imposed a tax on the colonies following the Seven Years War. 11) Boston Tea Party in 1773 protest against British taxes and government. * Key Court Cases: Witchcraft trials (1480-1750) executions of innocent people that were accused of being witches or involving with any witchcraft. * Important Documents 1) Mayflower...
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...U.S. History U.S. History Unit One Pre-Columbian & Colonial America (Ch. 1-5) * Years- 33,000 B.C.-1763 * Presidents-none * Foreign Policies/Key Events: People migrated from Eurasia across Beringia to Alaska and spread south to the Americas. * Domestic Policies/Key Events 1) Various European settlements were established in the Americas. 2) 16th century, Europeans brougth new staples to the Americas and vice-versa. 3) Spanish exploreres were first Europeans to arrive with Christopher Columbus' second expedition to Puerto Rico on November 19, 1493. 4) First successful English colony was established in 1607, on the James River at Jamestown. 5) The Pilgrims established at Plymouth Colony. 6) Mayflower Compact was established for people to govern themselves. 7) Colonies characterized by religious diversity many congregatinalists in the Middle colonies. 8) First Great Awakening in the 1740s led by Jonathan Edwards. 9) French and Indian War (1754-1763) was a watershed event in the political development of the colonies. 10) Stamp Acts of 1765 was enforced and imposed a tax on the colonies following the Seven Years War. 11) Boston Tea Party in 1773 protest against British taxes and government. * Key Court Cases: Witchcraft trials (1480-1750) executions of innocent people that were accused of being witches or involving with any witchcraft. * Important Documents 1) Mayflower Compact ...
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...THE CAUSES OF AMERICAN BUSINESS CYCLES: AN ESSAY IN ECONOMIC HISTORIOGRAPHY Peter Temin* This paper surveys American business cycles over the past century. Its task is to identify the causes of these cycles; other papers in this collection address the nature of policy responses to these causes. This paper can be seen as a test to discriminate between two views of the American economy. The first is expressed in a characteristically vivid statement by Dornbusch, who proclaimed recently: “None of the U.S. expansions of the past 40 years died in bed of old age; every one was murdered by the Federal Reserve” (Dornbusch 1997). This stark view can be contrasted with its opposite in the recent literature: “[N]one of the popular candidates for observable shocks robustly accounts for the bulk of business-cycle fluctuations in output” (Cochrane 1994, p. 358). I expand the time period to consider the past century, but it is easy to distinguish the past 40 years, that is, the period since World War II. A survey of business cycle causes over an entire century runs into several problems, of which three seem noteworthy. First, it is not at all clear what “cause” means in this context. Second, the Great Depression was such a large cycle that it cannot be seen as just another data point. Third, the survey relies on the existing literature on business cycles, which is why I have entitled it an essay in economic historiography. The paper proceeds by discussing each of these problems in turn, then...
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...U.S. History U.S. History Unit One Pre-Columbian & Colonial America (Ch. 1-5) * Years- 33,000 B.C.-1763 * Presidents-none * Foreign Policies/Key Events: People migrated from Eurasia across Beringia to Alaska and spread south to the Americas. * Domestic Policies/Key Events 1) Various European settlements were established in the Americas. 2) 16th century, Europeans brougth new staples to the Americas and vice-versa. 3) Spanish exploreres were first Europeans to arrive with Christopher Columbus' second expedition to Puerto Rico on November 19, 1493. 4) First successful English colony was established in 1607, on the James River at Jamestown. 5) The Pilgrims established at Plymouth Colony. 6) Mayflower Compact was established for people to govern themselves. 7) Colonies characterized by religious diversity many congregatinalists in the Middle colonies. 8) First Great Awakening in the 1740s led by Jonathan Edwards. 9) French and Indian War (1754-1763) was a watershed event in the political development of the colonies. 10) Stamp Acts of 1765 was enforced and imposed a tax on the colonies following the Seven Years War. 11) Boston Tea Party in 1773 protest against British taxes and government. * Key Court Cases: Witchcraft trials (1480-1750) executions of innocent people that were accused of being witches or involving with any witchcraft. * Important Documents 1) Mayflower...
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...Some historians refer to Japan’s social, economic, and political advancements during the late 19th century and early 20th century as the “Meiji Miracle.” During the 1860’s the Tokugawa shogunate was at its weakest point and it would soon fall after the shotgun abdicated his power. In 1868, the Meiji regime was established under Mutsuhito in Edo, or modern Tokyo. Previously during the Edo rule; the weak Tokugawa rulers were forced into signing unequal treaties with various Western powers. The Meiji emperor and his advisors soon realized that Japan must change and initiate reforms in order to prevent the Western powers from dominating Japan. The Meiji rulers would soon embrace western technologies, industries, and lifestyles to initiate modernization policies that would forever alter Japanese politics, society, and economics. The Meiji would begin their political reform by stripping the daimyo of titles to the land in 1871. To maintain peace among the daimyo the Meiji rulers made the former daimyo regional governors over their prefectures. By doing this, the Meiji rulers were able to successfully remove the daimyo from holding full possession of the land without major resistance. The Meiji government would continue to modernize Japanese politics by establishing a parliament and constitution based on the Western government. The use of a constitution sparked a debate on among the officers and intellectuals of which form of parliament was more beneficial. The politicians favored...
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...communication, production, management, distribution, and marketing. As a result, America transformed into a global economic power. From 1870 to 1913, the United States’ distribution of the world’s industrial production rose from 23 percent to 36 percent (Chandler, 4). Comparing this substantial growth to other industrious countries of the time exemplifies America’s dominance. In the same time span Great Britain fell from 32 percent to 14 percent, Germany rose from 13 percent to 16 percent, France dropped from 10 percent to 6 percent, Russia rose from 4 percent to 6 percent, Japan rose from 0 percent to 1 percent, and the rest of the world rose from 17 percent to 21 percent (Chandler, 4). Capital intensive, mass production industries that rose during the 2nd half of the 19th century distinguished American business from economic institutions in other cultures and set the foundations of what is now known as the American corporation. Standard Oil An industry that was a pioneer in changing the early business landscape was the petroleum sector. In 1859, the first successful commercial drilling of oil occurred at what is known as Drake’s Well in Titusville, Pennsylvania. The drilling of this well is known as the beginning of the modern oil industry. The aftermath of the Drake’s Well drilling exhibited a high level of entry in the oil industry and increased production. Crude Oil production rose from 2000 barrels in 1859 to 4,800,000 in 1869 and 5,250,000...
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