Financial Panics of the 19th Century

Financial Panics of the 19th Century The Great Depression of the 1930s was called great for a reason. It followed a long series of depressions which afflicted the American economy throughout the 19th century. Crop failures, drops in cotton prices, reckless railroad speculation, and sudden plunges in the stock market all came together at various times to send the growing American economy into chaos. The effects were often brutal, with millions of Americans losing jobs, farmers being forced off their land, and railroads, banks, and other businesses going under for good. Here are the basic facts on the major financial panics of the 19th century. Panic of 1819 The first major American depression, the Panic of 1819 was rooted to some extent in economic problems reaching back to the war of 1812.It was triggered by a collapse in cotton prices. A contraction in credit coincided with the problems in the cotton market, and the young American economy was severely affected.Banks were forced to call in loans, and foreclosures of farms and bank failures resulted.The Panic of 1819 lasted until 1821.The effects were felt most in the west and south. Bitterness about the economic hardships resonated for years and led to the resentment that helped Andrew Jackson solidify his political base throughout the 1820s.Besides exacerbating sectional animosity, the Panic of 1819 also made many Americans realize the importance of politics and government policy in their lives. Panic of 1837 The Panic of 1837 was triggered by a combination of factors including the failure of a wheat crop, a collapse in cotton prices, economic problems in Britain, rapid speculation in land, and problems resulting from the variety of currency in circulation.It was the second-longest American depression, with effects lasting roughly six years, until 1843.The panic had a devastating impact. A number of brokerage firms in New York failed, and at least one New York City bank president committed suicide. As the effect rippled across the nation, a number of state-chartered banks also failed. The nascent labor union movement was effectively stopped, as the price of labor plummeted.The depression caused the collapse of real estate prices. The price of food also collapsed, which was ruinous to farmers and planters who couldn’t get a decent price for their crops. People who lived through the depression following 1837 told stories that would be echoed a century later during The Great Depressio n.The aftermath of the panic of 1837 led to Martin Van Buren’s failure to secure a second term in the election of 1840. Many blamed the economic hardships on the policies of Andrew Jackson, and Van Buren, who had been Jackson’s vice president, paid the political price. Panic of 1857 The Panic of 1857 was triggered by the failure of the Ohio Life Insurance and Trust Company, which actually did much of its business as a bank headquartered in New York City. Reckless speculation in railroads led the company into trouble, and the company’s collapse led to a literal panic in the financial district, as crowds of frantic investors clogged the streets around Wall Street.Stock prices plummeted, and more than 900 mercantile firms in New York had to cease operation. By the end of the year the American economy was a shambles.One victim of the Panic of 1857 was a future Civil War hero and US president, Ulysses S. Grant, who was bankrupted and had to pawn his gold watch to buy Christmas presents.Recovery from the depression began in early 1859. Panic of 1873 The investment firm of Jay Cooke and Company went bankrupt in September 1873 as a result of rampant speculation in railroads. The stock market dropped sharply and caused numerous businesses to fail.The depression caused approximately three million Americans to lose their jobs.The collapse in food prices impacted Americas farm economy, causing great poverty in rural America.The depression lasted for five years, until 1878.The Panic of 1873 led to a populist movement that saw the creation of the Greenback Party. The industrialist Peter Cooper ran for president on the Greenback Party ticket in 1876, but was unsuccessful. Panic of 1893 The depression set off by the Panic of 1893 was the greatest depression America had known, and was only surpassed by the Great Depression of the 1930s.In early May 1893 the New York stock market dropped sharply, and in late June panic selling caused the stock market to crash.A severe credit crisis resulted, and more than 16,000 businesses had failed by the end of 1893. Included in the failed businesses were 156 railroads and nearly 500 banks.Unemployment spread until one in six American men lost their jobs.The depression inspired Coxeys Army, a march on Washington of unemployed men. The protesters demanded that the government provide public works jobs. Their leader, Jacob Coxey, was imprisoned for 20 days.The depression caused by the Panic of 1893 lasted for about four years, ending in 1897. Legacy of 19th Century Financial Panics The economic problems of the 19th century periodically caused pain and misery and it often seemed that the federal and state governments were powerless to do anything. The rise of the progressive movement was, in many ways, a reaction to earlier financial panics. In the first decades of the 20th century financial reforms made economic collapses less likely, yet the Great Depression showed that the problems could not be easily avoided.

Women study written project Essay Example | Topics and Well Written Essays - 500 words

Women study written project - Essay Example Still, they find jobs for themselves because of the awareness brought to them by the feminist theories. They want to come out of the confinement of their houses to work at par with men. But, they have to face harassment by men, which decreases their job performance and job satisfaction. They are forced to do as the employer says or are forced to face adverse circumstances if they refuse. For example, minority women suffer from sexual harassment because they belong to minority groups. Hence, they face double jeopardy, as found by Berdahl and Moore (426) in their research. They assert that â€Å"Women experienced more sexual harassment than men, minorities experienced more ethnic harassment than Whites, and minority women experienced more harassment overall than majority men, minority men, and majority women† (Berdahl and Moore 426). Hence, sexual harassment is one of the biggest problems that women face at the workplace. Domestic or spousal abuse is defined as the abuse in which one spouse makes his counterpart undergo physical or mental mistreatment so that he may demonstrate his influence and authority. Women are prone to domestic violence than men. It is hard for women to end domestic violence once it starts. Men maltreat their wives to satisfy their pride, and also act loving at times to keep the latter stay in the relationship so as to give the impression that they have improved, which does not happen. Eventually, the frustration leads to hatred and rebellion developing within the women. Domestic violence is a form of gender violence (Berdahl and Moore 260), and it leads to stark mental problems and emotional breakdowns due to which the women may plan to abandon or kill their partners. Divorce rates are also on the rise, and one of the main reasons for this is domestic violence. If the couple has children, domestic

Sonny's blues( The story) Essay Example | Topics and Well Written Essays - 500 words

Sonny's blues( The story) - Essay Example is darkness through differentiating himself from black people who did not make it out of their miserable lives, but after the death of his loved ones and Sonny’s release from prison, he embraces his darkness through the music that binds the fears, disillusions, and dreams of his fellow black brethren. Before his mother’s death, the narrator has attained his own whiteness, where he rejects the reality of his blackness. When he gets married, he focuses on his family and raising his children. He does not even visit his mother anymore, and he has lost contact with his brother. In a sense, he has left his darkness behind. Being less dark, in other words, being whiter is critical for him because he does not want to be like any other black man. When he reads about his brother being jailed in the papers for drugs, he does not want to accept the truth e: â€Å"I didnt want to believe that Id ever see my brother going down, coming to nothing, all that light in his face gone out, in the condition Id already seen so many others† (Baldwin par. 6). By saying â€Å"others,† he spaces himself from these people. They are not him, and he is not part of them. But after the deaths of his mother and young daughter, the narrator reaches out to his brother, as he becomes more conscious of how his race impacts his social class and identity. His mother knows this, especially after what happened to her husband’s brother. She asks for her eldest to take care of Sonny: â€Å"It aint only the bad ones, nor yet the dumb ones that gets sucked under† (Baldwin par. 98). She is too painfully aware that being black in itself can push anyone to inner darkness, a darkness that is so deep and entangling that not many can escape it. When the narrator’s daughter died of polio, he realizes that pain intersects them all: â€Å"My trouble made his real† (Baldwin par. 183). From here on, he began piecing his brother together like a puzzle, which helped him understand his own identity too. The narrator

The Lawsuit Essay Example for Free

The Lawsuit Essay When looking for resources I came across a critical review to my story â€Å"The Lawsuit† by Naguib Mahfouz I came across a post which gave me a better insight of the story. My story was about a man who had trouble within on rather or not to help his step mother who he feels stole everything from him and his family. My article tried to evaluate his character and why the son wouldn’t try to get a better understand on why his step mother was asking him for money. The author of the article also tried to put himself into the perspective on why he had so much anger towards her. The son would question how could someone who was so beautiful needs help now. She could get anything with her looks and no twenty years later she was begging not his deceased father but his son for money. Why couldn’t she remarry or get a job like everyone else in the world. The son did not want to look into maybe things in life had prevented her from getting a job. Maybe the widow had hardships. When finally seeing his father widow in court he say that she was fat, ugly, and appeared older then her age. The son finally saw all the hardship she went through and decided to not fight her on her lawsuit but to bless her. For example â€Å"She couldnt rely on her looks anymore and she never knew how to work for her living, so she could only fall back upon the son who sees this and doesnt mind helping her out. † Helping people is better than holding a grudge against. The author’s main point of the story was to help us understand the son’s point of view and why he felt the way he did.

student :: essays research papers

Identification/description of alternatives Provide better customer service Toys â€Å"R† Us can increase the level of customer satisfaction by providing good customer service. Friendly and well trained employees who understand customer needs better and who understand the importance of satisfying the customers will not only assist in encouraging customers to shop at Toys â€Å"R† Us but also contribute to differentiating the company from its competitors. It is important to make each customer feel important and to serve each customer feel like he/she is the only customer. Provide better shopping experience It is key for Toys â€Å"R† Us to make the shopping experience unique and fun. The experience would encourage the parents and their children to stop and shop more often. The unique shopping experience can make the store the best place to shop for toys. The experience would leave a lasting impression in the minds of customers and would make them want to come back and come often. Setting up a game room at the store would attract kids to come to the store to try out new games, interact with other kids and also provide the store an opportunity to introduce and market new products and while the families enjoy a unique and fun shopping experience. Introducing characters in the store like Goeffrey the Giraffe would provide entertainment to the families and improve the shopping experience. Promotions Toys â€Å"R† Us can attract customers by sending out discount coupons and providing special discounts on occasions. Providing various incentives based on what customers spend would help increase consumer spending. Customers buy several toys throughout the various ages of their kids and more than often buy toys for various kids in their family and for friend’s kids. Incorporating rewards/points systems helps Toys â€Å"R† Us establish a long-term relationship with the customer and the relationship only grows as the customer buys each time at the store. This â€Å"lock-in† mechanism would also play a vital role in bringing the customers back to the store as opposed to shopping at the competitor’s store for their needs. 3 in 1 experience The company can bring its umbrella of product offerings from its various stores such as Toys â€Å"R† Us, Kids â€Å"R† Us and Babies â€Å"R† Us under one roof. Providing several products in one store provides the customers more than one reason to stop at the store. Families with kids in different age groups and families with varying needs can find their needs in one place presenting the customer with a â€Å"one stop† shopping experience.

Communication Style Case Study

Aggressive/ Passive AggressiveIn scenario number one two styles of communication was used. The RN at the psychiatric care group home was very aggressive when she told the aide that his role is to just do what he is told to do and not to think. She used a firm raised voice probably making the aide feel unimportant. Her aggressiveness made him believe that only the RN role is important not his. While this was a team meeting, his part of the team was minimal. He responded to her aggressiveness by being passive by sitting quietly and not responding. He needs his job so he does not want to cause any trouble at work. His position at work was just as important as hers but he kept quiet.He plotted to get revenge which now made his communication style change to passive aggressive, but the idea of not doing anything without being told is not a positive outcome to this situation. There maybe an emergency where a patient might fall or become aggressive with staff and help is needed and if there is no one around to tell him what to do he might not help out. Gabbey (2013), â€Å"Aggressive behavior is intentional, meaning it’s done on purpose, violates social norms, and causes a breakdown in a relationship† (What is Aggressive Behavior?).Passive/ NonassertiveAccording to â€Å"The College of New Jersey Anti-Violence Initiatives â€Å"(n.d.), â€Å"people often chose nonassertive behavior to avoid unpleasant situations, tension, conflict, and confrontation† (Assertive, Nonassertive, and Aggressive Behaviors). Pamela the school nurses acted passive/nonassertive when she decided to do the work herself instead of confronting the volunteer. She could have saved time and money by placing her trust in the volunteers work and the accuracy of it. With this type of communication more problems arise. Her concerns and actions not only inconvenienced the students, it showed the volunteer that she did not trust her work.It  caused the school nurse to do more work which caused the school to spend more money. Speaking to the volunteer could have help avoid the discomfort of this situation. To see if the results the volunteer got were accurate she could have set in on one of the test. If the volunteer performed the job inaccurately, then she should have re-tested the students. If the volunteer’s performance of the test were accurate, the results could have been used faster and the students who needed glasses or hearing aids could have received them quicker. Her choice may have seemed right at the time she made the decision, but the outcome of it made her decision wrong.Assertive/ AggressiveIn this scenario both assertive and aggressive communication was used. Working in an ambulatory care surgical unit can be a controlled environment and at times an extremely busy one. Team work is essential to good patient outcome. Since Mabel was the granddaughter of the chairman of the board she felt entitled to do what she wanted to do. She used her aggressive behavior to boss her boss around. She felt that she could pick and choose the cases she scrubbed in on and she wasn’t going to work on the cases that required extra work.Her boss Rosa used her assertive behavior to explain that everybody worked as a team in the unit and everyone would use their strengths to make the work environment enjoyable and bring the best outcome for the patient. Being assertive is the best communication there is. You can effectively get your point across without hurting anyone’s feelings. â€Å"Because this style of communication addresses the problem in the situation, real problems get solved and stay solved.†(Hansten & Jackson, 2009, p. 282). Rosa’s assertiveness was a good way to let Mabel know that she was not intimated by her or her threats of serving her head on a platter.Aggressive/ AssertiveWorking in a busy Trauma/Surgical ICU emergencies happen frequently. Patients are very sick and with the emergency room real ly busy a lot of patients come to the ICU for resuscitation. I was receiving one of those patients and the emergency room nurse called to give report. In the report she said that the patient was receiving a blood transfusion and had two more units that needed to be given. I asked where the units of blood were, and she said she would bring them with the patient. I then informed her per policy the blood can come with the patient as long as they have been primed and are hanging. She said they didn’t have time for that because the doctor really wanted to bring the patient now.She told the resident who got on the phone and told me that he was bringing the patient now and that I would have to hang the blood when the patient arrived. I told him about the policy and he said he didn’t care. The patient arrived with the two units of blood lying on the bed. The attending arrived with the patient and told me to hang the blood. I then informed him about the policy and since I wasnà ¢â‚¬â„¢t the nurse to verify the blood I could not hang it. He screamed at me that I had to hang it or go get my change nurse. One of my co-workers went to get my charge nurse who he then told that I refused to hang the blood. I told her that we had just had our yearly clinical competencies and that per policy the blood should have been hung before the patient was transferred.I was not refusing but I was protecting my license. The resident was capable of hanging the blood himself. She then hung the blood for the patient. After the patient was stabilized, my charge nurse went to retrieve the policy. After reading the policy she shared the information with the attending and she apologized to me for the miscommunication. Monegain (2010), â€Å"An estimated 80 percent of serious medical errors involve miscommunication between caregivers when responsibility for patients is transferred or handed-off, according to the Joint Commission’.If the doctors would not have been so aggressi ve and communicated better the situation could have been avoided. We could have worked together to hang the blood. I could have shown them how to prime the line or the emergency room nurse could have accompanied the patient to the unit to hang the blood. The patient outcome was good and he eventually was discharged from the hospital.

Calculating the Mean, Median, and Mode

Before you can begin to understand statistics, you need to understand mean, median, and mode. Without these three methods of calculation, it would be impossible to interpret much of the data we use in daily life. Each is used to find the statistical midpoint in a group of numbers, but they all do so differently.   The Mean When people talk about statistical averages, they are referring to the mean. To calculate the mean, simply add all of your numbers together. Next, divide the sum by however many numbers you added. The result is your mean or average score. For example, lets say you have four test scores: 15, 18, 22, and 20. To find the average, you would first add all four scores together, then divide the sum by four. The resulting mean is 18.75. Written out, it looks something like this: (15 18 22 20) / 4 75 / 4 18.75 If you were to round up to the nearest whole number, the average would be 19. The Median The median is the middle value in a data set. To calculate it, place all of your numbers in increasing order. If you have an odd number of integers, the next step is to find the middle number on your list. In this example, the middle or median number is 15: 3, 9, 15, 17, 44 If you have an even number of data points, calculating the median requires another step or two. First, find the two middle integers in your list. Add them together, then divide by two. The result is the median number. In this example, the two middle numbers are 8 and 12: 3, 6, 8, 12, 17, 44 Written out, the calculation would look like this: (8 12) /  2   20 / 2 10 In this instance, the median is 10. The Mode In statistics, the mode in a list of numbers refers to the integers that occur most frequently. Unlike the median and mean, the mode is about the frequency of occurrence. There can be more than one mode or no mode at all; it all depends on the data set itself. For example, lets say you have the following list of numbers: 3, 3, 8, 9, 15, 15, 15, 17, 17, 27, 40, 44, 44 In this case, the mode is 15 because it is the integer that appears most often. However, if there were one fewer 15 in your list, then you would have four modes: 3, 15, 17, and 44. Other Statistical Elements Occasionally in statistics, youll also be asked for the range in a set of numbers. The range is simply the smallest number subtracted from the largest number in your set. For example, lets use the following numbers: 3, 6, 9, 15, 44 To calculate the range, you would subtract 3 from 44, giving you a range of 41. Written out, the equation looks like this:   44 – 3 41 Once youve mastered the basics of mean, median, and mode, you can begin to learn about more statistical concepts. A good next step is studying  probability, the chance of an event happening.