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Panic Of 1866
The Panic of 1866 was an international financial downturn that accompanied the failure of Overend, Gurney and Company in London, and the ''corso forzoso'' abandonment of the silver standard in Italy. In Britain, the economic impacts are held partially responsible for public agitation for political reform in the months leading up to the 1867 Reform Act. The crisis led to a sharp rise in unemployment to 8% and a subsequent fall in wages across the country. Similar to the "knife and fork" motives of Chartism in the late 1830s and 1840s, the financial pressure on the British working class led to rising support for greater representation of the people. Groups such as the Reform League saw rapid increases in membership and the organisation spearheaded multiple demonstrations against the political establishment such as the Hyde Park riot of 1866. Ultimately the popular pressure that arose from the banking crisis and the recession that followed can be held partly responsible for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Cartoon From Fun Magazine About Overend Gurney
Politics (from , ) is the set of activities that are associated with Decision-making, making decisions in Social group, groups, or other forms of Power (social and political), power relations among individuals, such as the distribution of resources or Social status, status. The branch of social science that studies politics and government is referred to as political science. It may be used positively in the context of a "political solution" which is compromising and nonviolent, or descriptively as "the art or science of government", but also often carries a negative connotation.. The concept has been defined in various ways, and different approaches have fundamentally differing views on whether it should be used extensively or limitedly, empirically or normatively, and on whether conflict or co-operation is more essential to it. A variety of methods are deployed in politics, which include promoting one's own political views among people, negotiation with other political subje ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million. Across its social media platforms, it reaches an audience of 35 million, as of 2016. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded furthe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1866 In Economics
Events January–March * January 1 ** Fisk University, a historically black university, is established in Nashville, Tennessee. ** The last issue of the abolitionist magazine '' The Liberator'' is published. * January 6 – Ottoman troops clash with supporters of Maronite leader Youssef Bey Karam, at St. Doumit in Lebanon; the Ottomans are defeated. * January 12 ** The '' Royal Aeronautical Society'' is formed as ''The Aeronautical Society of Great Britain'' in London, the world's oldest such society. ** British auxiliary steamer sinks in a storm in the Bay of Biscay, on passage from the Thames to Australia, with the loss of 244 people, and only 19 survivors. * January 18 – Wesley College, Melbourne, is established. * January 26 – Volcanic eruption in the Santorini caldera begins. * February 7 – Battle of Abtao: A Spanish naval squadron fights a combined Peruvian-Chilean fleet, at the island of Abtao, in the Chiloé Archipelago of southern Chile. * Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crises
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (e.g. the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time. Types Banking crisis When a bank suffers a sudden rush of withdrawals by depositors, this is called a ''bank run''. Sin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
19th-century Economic History
The 19th (nineteenth) century began on 1 January 1801 ( MDCCCI), and ended on 31 December 1900 ( MCM). The 19th century was the ninth century of the 2nd millennium. The 19th century was characterized by vast social upheaval. Slavery was abolished in much of Europe and the Americas. The First Industrial Revolution, though it began in the late 18th century, expanding beyond its British homeland for the first time during this century, particularly remaking the economies and societies of the Low Countries, the Rhineland, Northern Italy, and the Northeastern United States. A few decades later, the Second Industrial Revolution led to ever more massive urbanization and much higher levels of productivity, profit, and prosperity, a pattern that continued into the 20th century. The Islamic gunpowder empires fell into decline and European imperialism brought much of South Asia, Southeast Asia, and almost all of Africa under colonial rule. It was also marked by the collapse of the large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The United Kingdom
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland, England, and Wales shared a monarch from 1601 but their economies were run separately until they were unified in the 1707 Act of Union. Ireland was incorporated in the United Kingdom economy between 1800 and 1922; from 1922 the Irish Free State (the modern Republic of Ireland) became independent and set its own economic policy. Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the industrial revolution that began in the mid-eighteenth century. The developments brought by industrialization resulted in Britain becoming the premier European and global economic, political, and military p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Crises In The United States
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benjamin Scott
Benjamin Scott FRAS (15 April 1814 – 17 January 1892) served as the Chamberlain of London from 1858 until his death. As well as an enduring figure in the life of the city, he was also a committed social activist of the age, collaborating with people such as Josephine Butler and W. T. Stead. Early life The son of Benjamin Whinnell Scott, Chief clerk to the Chamberlain of London, and grandson of the banker John Scott, he was born 15 April 1814 in Islington, and entered the Chamberlain's office as a junior clerk. In 1841 upon the death of his father, he succeeded him as Chief clerk, and remained in the service of the City of London Corporation in that capacity during the chamberlainships of Sir James Shaw, Sir William Heygate and Anthony Brown. Chamberlain of the City of London On the death of Brown early in 1853, Scott received a requisition as a liveryman of the Wheelwrights' Company, to stand for Chamberlain; the office was in the gift of the liverymen of the variou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomsbury Publishing
Bloomsbury Publishing plc is a British worldwide publishing house of fiction and non-fiction. It is a constituent of the FTSE SmallCap Index. Bloomsbury's head office is located in Bloomsbury, an area of the London Borough of Camden. It has a US publishing office located in New York City, an India publishing office in New Delhi, an Australia sales office in Sydney CBD and other publishing offices in the UK including in Oxford. The company's growth over the past two decades is primarily attributable to the ''Harry Potter'' series by J. K. Rowling and, from 2008, to the development of its academic and professional publishing division. The Bloomsbury Academic & Professional division won the Bookseller Industry Award for Academic, Educational & Professional Publisher of the Year in both 2013 and 2014. Divisions Bloomsbury Publishing group has two separate publishing divisions—the Consumer division and the Non-Consumer division—supported by group functions, namely Sales and Mar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Dudley Baxter
Robert Dudley Baxter (3 February 1827, Doncaster – 1875, Frognal) was an English economist and statistician. Life Robert Dudley Baxter was educated privately and at Trinity College, Cambridge University. He studied law Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been vari ... and entered his father's firm of Baxter & Co., solicitors, with which he was connected until his death. Though studiously attentive to business, he was enabled, as a member of the Statistical and other learned societies, to accomplish much useful economic work. Works His principal economic writings were: *''The Budget and the Income Tax'', 1860 *''Railway Extension and its Results'', 1866 *''The Panic of 1866; With its Lessons on the Currency Act'', 1866 *''The National Income'', 1868 *''The Taxation of the Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banking Crises
This is a list of banking crises. A banking crisis is a financial crisis that affects banking activity. Banking crises include bank runs, which affect single banks; banking panics, which affect many banks; and systemic banking crises, in which a country experiences many defaults and financial institutions and corporations face great difficulties repaying contracts. A banking crisis is marked by bank runs that lead to the demise of financial institutions, or by the demise of a financial institution that starts a string of similar demises. Bank runs A bank run occurs when many bank customers withdraw their deposits because they believe the bank might fail. There have been many runs on individual banks throughout history; for example, some of the 2008–2009 bank failures in the United States were associated with bank runs. Banking panics and systemic banking crises 18th century * Crisis of 1763, started in Amsterdam, begun by the collapse of Johann Ernst Gotzkowsky and L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Charter Act 1844
The Bank Charter Act 1844 (7 & 8 Vict. c. 32), sometimes referred to as the Peel Banking Act of 1844, was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England. It is one of the Bank of England Acts 1694 to 1892. Purpose Until the mid-nineteenth century, commercial banks in Britain and Ireland were able to issue their own banknotes, and notes issued by provincial banking companies were commonly in circulation. Under the 1844 Act, bullionism was institutionalized in Britain, creating a ratio between the gold reserves held by the Bank of England and the notes that the Bank could issue, and limited the issuance by English and Welsh banks of non-gold-backed Bank of England notes to up to £14 million. The Act also placed strict curbs on the issuance of notes by the country banks, barring any new "banks of issue" in any part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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