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1857 Panic
The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. The world economy was also more interconnected by the 1850s, which also made the Panic of 1857 the first worldwide economic crisis. In Britain, the Palmerston government circumvented the requirements of the Bank Charter Act 1844, which required gold and silver reserves to back up the amount of money in circulation. Surfacing news of this circumvention set off the Panic in Britain. Beginning in September 1857, the financial downturn did not last long, but a proper recovery was not seen until the onset of the American Civil War in 1861. The sinking of contributed to the panic of 1857, as New York banks were awaiting a much-needed shipment of gold. American banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1857 Panic
The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. The world economy was also more interconnected by the 1850s, which also made the Panic of 1857 the first worldwide economic crisis. In Britain, the Palmerston government circumvented the requirements of the Bank Charter Act 1844, which required gold and silver reserves to back up the amount of money in circulation. Surfacing news of this circumvention set off the Panic in Britain. Beginning in September 1857, the financial downturn did not last long, but a proper recovery was not seen until the onset of the American Civil War in 1861. The sinking of contributed to the panic of 1857, as New York banks were awaiting a much-needed shipment of gold. American banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market Bubble
A stock market bubble is a type of economic bubble taking place in stock markets when market participants drive stock prices above their value in relation to some system of stock valuation. Behavioral finance theory attributes stock market bubbles to cognitive biases that lead to groupthink and herd behavior. Bubbles occur not only in real-world markets, with their inherent uncertainty and noise, but also in highly predictable experimental markets. In the laboratory, uncertainty is eliminated and calculating the expected returns should be a simple mathematical exercise, because participants are endowed with assets that are defined to have a finite lifespan and a known probability distribution of dividends . Other theoretical explanations of stock market bubbles have suggested that they are rational, intrinsic, and contagious. History Historically, early stock market bubbles and crashes have their roots in financial activities of the 17th-century Dutch Republic, the birth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Government Of The United States
The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic located primarily in North America, composed of 50 states, a city within a federal district (the city of Washington in the District of Columbia, where most of the federal government is based), five major self-governing territories and several island possessions. The federal government, sometimes simply referred to as Washington, is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively. The powers and duties of these branches are further defined by acts of Congress, including the creation of executive departments and courts inferior to the Supreme Court. Naming The full name of the republic is "United States of America". No other name appears in the Constitution, and this i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Buchanan
James Buchanan Jr. ( ; April 23, 1791June 1, 1868) was an American lawyer, diplomat and politician who served as the 15th president of the United States from 1857 to 1861. He previously served as secretary of state from 1845 to 1849 and represented Pennsylvania in both houses of the U.S. Congress. He was an advocate for states' rights, particularly regarding slavery, and minimized the role of the federal government preceding the Civil War. Buchanan was the last president born in the 18th century. Buchanan was a prominent lawyer in Pennsylvania and won his first election to the state's House of Representatives as a Federalist. He was elected to the U.S. House of Representatives in 1820 and retained that post for five terms, aligning with Andrew Jackson's Democratic Party. Buchanan served as Jackson's minister to Russia in 1832. He won the election in 1834 as a U.S. senator from Pennsylvania and continued in that position for 11 years. He was appointed to serve as President ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keokuk, Iowa
Keokuk is a city in and a county seat of Lee County, Iowa, United States, along with Fort Madison. It is Iowa's southernmost city. The population was 9,900 at the time of the 2020 census. The city is named after the Sauk chief Keokuk, who is thought to be buried in Rand Park. It is in the extreme southeast corner of Iowa, where the Des Moines River meets the Mississippi. It is at the junction of U.S. Routes 61, 136 and 218. Just across the rivers are the towns of Hamilton and Warsaw, Illinois, and Alexandria, Missouri. Keokuk, along with the city of Fort Madison, is a principal city of the Fort Madison-Keokuk micropolitan area, which includes all of Lee County, Iowa, Hancock County, Illinois and Clark County, Missouri. History Situated between the Des Moines and Mississippi rivers, the area that became Keokuk had access to a large trading area and was an ideal location for settlers. In 1820, the US Army prohibited soldiers stationed along the Mississippi River from havin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Midwestern
The Midwestern United States, also referred to as the Midwest or the American Midwest, is one of four census regions of the United States Census Bureau (also known as "Region 2"). It occupies the northern central part of the United States. It was officially named the North Central Region by the Census Bureau until 1984. It is between the Northeastern United States and the Western United States, with Canada to the north and the Southern United States to the south. The Census Bureau's definition consists of 12 states in the north central United States: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. The region generally lies on the broad Interior Plain between the states occupying the Appalachian Mountain range and the states occupying the Rocky Mountain range. Major rivers in the region include, from east to west, the Ohio River, the Upper Mississippi River, and the Missouri River. The 2020 United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston And Worcester Railroad
The Boston and Albany Railroad was a railroad connecting Boston, Massachusetts to Albany, New York, later becoming part of the New York Central Railroad system, Conrail, and CSX Transportation. The line is currently used by CSX for freight. Passenger service is provided on the line by Amtrak, as part of their ''Lake Shore Limited'' service, and by the MBTA Commuter Rail system, which owns the section east of Worcester and operates it as its Framingham/Worcester Line. History When the Erie Canal opened in 1825, New York City's advantageous water connection through the Hudson River threatened Boston's historical dominance as a trade center. Since the Berkshires made construction of a canal infeasible, Boston turned to the emerging railroad technology for a share of the freight to and from the Midwestern United States. The Boston and Worcester Railroad was chartered June 23, 1831 and construction began in August 1832. The line opened in sections: to West Newton on April 16, 18 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sheboygan And Fond Du Lac Railroad
The Sheboygan and Fond du Lac Railroad and its predecessor the Sheboygan and Mississippi Railroad operated the line from Sheboygan, Wisconsin through Fond du Lac, Wisconsin and terminating in Princeton, Wisconsin for one hundred years (from 1852 to 1952) and provided service to the communities along the way. Trains carried cattle, freight, lumber, coal, mail, sugar beets, produce, supplies, passengers, and the latest news. Stops along the way included Sheboygan, Sheboygan Falls, Plymouth, Glenbeulah, St Cloud, Calvary, Malone, Silica, Peebles, Taycheedah, Fond du Lac, Eldorado, Rosendale, Ripon, Green Lake, and Princeton Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the nine .... Images Image:MaloneAreaHeritageMuseumDisplay3Depot.jpg, Interior of the depot building in Malone. Refer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delaware, Lackawanna And Western Railroad
The Delaware, Lackawanna and Western Railroad (also known as the DL&W or Lackawanna Railroad) was a U.S. Class 1 railroad that connected Buffalo, New York, and Hoboken, New Jersey (and by ferry with New York City), a distance of . Incorporated in Pennsylvania in 1853 primarily for the purpose of providing a connection between the anthracite coal fields of Pennsylvania's Coal Region and the large markets for coal in New York City. The railroad gradually expanded both East and West, eventually linking Buffalo with New York City. Like most coal-focused railroads in Northeastern Pennsylvania (e.g., Lehigh Valley Railroad, New York, Ontario and Western Railroad and the Lehigh & New England Railroad), the DL&W was profitable during the first half of the twentieth century, but its margins were gradually hurt by declining Pennsylvania coal traffic, especially following the 1959 Knox Mine Disaster and competition from trucks following the expansion of the Interstate Highway System in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reading Railroad
The Reading Company ( ) was a Philadelphia-headquartered railroad that provided passenger and commercial rail transport in eastern Pennsylvania and neighboring states that operated from 1924 until its 1976 acquisition by Conrail. Commonly called the Reading Railroad, and logotyped as Reading Lines, the Reading Company was a railroad holding company for the majority of its existence and was a single railroad during its later years. It operated service as Reading Railway System and was a successor to the Philadelphia and Reading Railway Company, founded in 1833. Until the decline in anthracite loadings in the Coal Region after World War II, it was one of the most prosperous corporations in the United States. Competition with the modern trucking industry that used the interstate highway system for short-distance transportation of goods, also known as short hauls, compounded the company's problems, forcing it into bankruptcy in 1971. Its railroad operations were merged into Conrai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pittsburgh, Fort Wayne And Chicago Railway
The Pittsburgh, Fort Wayne and Chicago Railway was a major part of the Pennsylvania Railroad system, extending the PRR west from Pittsburgh, Pennsylvania, via Fort Wayne, Indiana, to Chicago, Illinois. It included the current Norfolk Southern-owned Fort Wayne Line east of Crestline, Ohio, to Pittsburgh, and the Fort Wayne Secondary, owned by CSX, from Crestline west to Tolleston in Gary, Indiana. CSX leased its entire portion in 2004 to the Chicago, Fort Wayne and Eastern Railroad (CFE). The remaining portion of the line from Tolleston into Chicago is now part of the Norfolk Southern's Chicago District, with a small portion of the original PFW&C trackage abandoned in favor of the parallel lines of former competitors which are now part of the modern NS system. History The Ohio and Pennsylvania Railroad was chartered in Ohio on February 24 and in Pennsylvania on April 11, 1848, to build from Allegheny City (annexed by Pittsburgh in 1907) west to Crestline, Ohio, on the Cleveland, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erie Railroad
The Erie Railroad was a railroad that operated in the northeastern United States, originally connecting New York City — more specifically Jersey City, New Jersey, where Erie's Pavonia Terminal, long demolished, used to stand — with Lake Erie, at Dunkirk, New York. It expanded west to Chicago with its 1865 merger with the former Atlantic and Great Western Railroad, also known as the New York, Pennsylvania and Ohio Railroad (NYPANO RR). Its mainline route proved influential in the development and economic growth of the Southern Tier of New York State, including cities such as Binghamton, Elmira, and Hornell. The Erie Railroad repair shops were located in Hornell and was Hornell's largest employer. Hornell was also where Erie's mainline split into two routes, one northwest to Buffalo and the other west to Chicago. On October 17, 1960, the Erie merged with former rival Delaware, Lackawanna & Western Railroad to form the Erie Lackawanna Railroad. The Hornell repair shops were c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
