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181-529: The Exposition was held to promote San Diego and support its economy, which had slowed with the country's Great Depression . The first year was such a financial and attendance success that it was held over for a second year. The exposition had hundreds of exhibits on history, the arts, horticulture, ethnic cultures, science, and industry. Some concessions and exhibits were unusual, such as the Gold Gulch , Lost Continent of Mu , Zoro Garden Nudist Colony , and

362-634: A deflationary spiral started in 1931. Farmers faced a worse outlook; declining crop prices and a Great Plains drought crippled their economic outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance. At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better. For example,

543-563: A northwest passage to Asia via the North Atlantic. Cabot sailed in 1497, five years after the first voyage of Christopher Columbus , and made landfall on the coast of Newfoundland . He believed he had reached Asia, and there was no attempt to found a colony. Cabot led another voyage to the Americas the following year but did not return; it is unknown what happened to his ships. No further attempts to establish English colonies in

724-418: A silver standard , almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries . This partly explains why the experience and length of the depression differed between regions and states around

905-471: A contest of ideologies between the two nations. It was not only Britain's position on the world stage that was at risk: Napoleon threatened to invade Britain itself, just as his armies had overrun many countries of continental Europe . The Napoleonic Wars were therefore ones in which Britain invested large amounts of capital and resources to win. French ports were blockaded by the Royal Navy , which won

1086-629: A decisive victory over a French Imperial Navy - Spanish Navy fleet at the Battle of Trafalgar in 1805. Overseas colonies were attacked and occupied, including those of the Netherlands, which was annexed by Napoleon in 1810. France was finally defeated by a coalition of European armies in 1815. Britain was again the beneficiary of peace treaties: France ceded the Ionian Islands , Malta (which it had occupied in 1798), Mauritius , St Lucia ,

1267-719: A dependency of the New South Wales colony. From 16 June 1840 New South Wales laws applied in New Zealand. This transitional arrangement ended with the Charter for Erecting the Colony of New Zealand on 16 November 1840. The Charter stated that New Zealand would be established as a separate Crown colony on 3 May 1841 with Hobson as its governor. During the 19th century, Britain and the Russian Empire vied to fill

1448-623: A form that attempted to be more inclusive by showcasing the empire as a family of newly birthed nations with common roots. The last decades of the 19th century saw concerted political campaigns for Irish home rule . Ireland had been united with Britain into the United Kingdom of Great Britain and Ireland with the Act of Union 1800 after the Irish Rebellion of 1798 , and had suffered a severe famine between 1845 and 1852. Home rule

1629-604: A former privately run bank, bearing no relation to the U.S. government (not to be confused with the Federal Reserve ). Unable to pay out to all of its creditors, the bank failed. Among the 608 American banks that closed in November and December 1930, the Bank of United States accounted for a third of the total $ 550 million deposits lost and, with its closure, bank failures reached a critical mass. In an initial response to

1810-467: A greater reduction in credit. On 5 April 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates , coins and bullion illegal, reducing the pressure on Federal Reserve gold. British economist John Maynard Keynes argued in The General Theory of Employment, Interest and Money that lower aggregate expenditures in the economy contributed to

1991-516: A gymnasium), and Palace of Water and Transportation (no longer existent). Other new buildings included: While some of the extensive gardens from the 1915 Panama California Exposition remained, they were redesigned from formal gardens to gardens overflowing with lush abundance of exotic plants. Many were reimagined by renowned architect Richard Requa who was influenced by the gardens he had seen traveling in Spain. Today's Alcazar garden, Zoro Garden, and

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2172-529: A larger decolonisation movement, in which Britain granted independence to most territories of the empire. The Suez Crisis of 1956 confirmed Britain's decline as a global power, and the handover of Hong Kong to China on 1 July 1997 symbolised for many the end of the British Empire, though fourteen overseas territories that are remnants of the empire remain under British sovereignty . After independence, many former British colonies, along with most of

2353-843: A major power in the Indian subcontinent after the East India Company 's conquest of Mughal Bengal at the Battle of Plassey in 1757. The American War of Independence resulted in Britain losing some of its oldest and most populous colonies in North America by 1783. While retaining control of British North America (now Canada ) and territories in and near the Caribbean in the British West Indies , British colonial expansion turned towards Asia, Africa , and

2534-482: A massive decline in income and to employment that was well below the average. In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment. British Empire The British Empire comprised the dominions , colonies , protectorates , mandates , and other territories ruled or administered by the United Kingdom and its predecessor states. It began with

2715-588: A minor settlement, and other treaty ports including Shanghai . During the late 18th and early 19th centuries, the British Crown began to assume an increasingly large role in the affairs of the company. A series of Acts of Parliament were passed, including the Regulating Act of 1773 , Pitt's India Act of 1784 and the Charter Act of 1813 which regulated the company's affairs and established

2896-600: A modern industrial city handled shortages of money and resources. Often they updated strategies their mothers used when they were growing up in poor families. Cheap foods were used, such as soups, beans and noodles. They purchased the cheapest cuts of meat—sometimes even horse meat—and recycled the Sunday roast into sandwiches and soups. They sewed and patched clothing, traded with their neighbors for outgrown items, and made do with colder homes. New furniture and appliances were postponed until better days. Many women also worked outside

3077-402: A monetary contraction first-hand were forced to join the deflationary policy since higher interest rates in countries that performed a deflationary policy led to a gold outflow in countries with lower interest rates. Under the gold standard's price–specie flow mechanism , countries that lost gold but nevertheless wanted to maintain the gold standard had to permit their money supply to decrease and

3258-514: A patent to Humphrey Gilbert for discovery and overseas exploration. That year, Gilbert sailed for the Caribbean with the intention of engaging in piracy and establishing a colony in North America, but the expedition was aborted before it had crossed the Atlantic. In 1583, he embarked on a second attempt. On this occasion, he formally claimed the harbour of the island of Newfoundland, although no settlers were left behind. Gilbert did not survive

3439-558: A perceived violation of the guaranteed Rights of Englishmen . The American Revolution began with a rejection of Parliamentary authority and moves towards self-government. In response, Britain sent troops to reimpose direct rule, leading to the outbreak of war in 1775. The following year, in 1776, the Second Continental Congress issued the Declaration of Independence proclaiming the colonies' sovereignty from

3620-472: A rapid escalation in the number of slaves transported. British ships carried a third of all slaves shipped across the Atlantic—approximately 3.5 million Africans —until the abolition of the trade by Parliament in 1807 (see § Abolition of slavery ). To facilitate the shipment of slaves, forts were established on the coast of West Africa, such as James Island , Accra and Bunce Island . In

3801-481: A security threat to Great Britain or mark the beginning of the break-up of the empire. A second Home Rule bill was defeated for similar reasons. A third bill was passed by Parliament in 1914, but not implemented because of the outbreak of the First World War leading to the 1916 Easter Rising . By the turn of the 20th century, fears had begun to grow in Britain that it would no longer be able to defend

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3982-848: A series of Anglo-Mysore wars in Southern India with the Sultanate of Mysore under Hyder Ali and then Tipu Sultan . Defeats in the First Anglo-Mysore war and stalemate in the Second were followed by victories in the Third and the Fourth . Following Tipu Sultan's death in the fourth war in the Siege of Seringapatam (1799) , the kingdom became a protectorate of the company. The East India Company fought three Anglo-Maratha Wars with

4163-567: A serious issue in the 1930s. Support for increasing welfare programs during the depression included a focus on women in the family. The Conseil Supérieur de la Natalité campaigned for provisions enacted in the Code de la Famille (1939) that increased state assistance to families with children and required employers to protect the jobs of fathers, even if they were immigrants. In rural and small-town areas, women expanded their operation of vegetable gardens to include as much food production as possible. In

4344-480: A small cadre of Labour, but the vast majority of Labour leaders denounced MacDonald as a traitor for leading the new government. Britain went off the gold standard , and suffered relatively less than other major countries in the Great Depression. In the 1931 British election, the Labour Party was virtually destroyed, leaving MacDonald as prime minister for a largely Conservative coalition. In most countries of

4525-713: A standstill agreement froze Germany's foreign liabilities for six months. Germany received emergency funding from private banks in New York as well as the Bank of International Settlements and the Bank of England. The funding only slowed the process. Industrial failures began in Germany, a major bank closed in July and a two-day holiday for all German banks was declared. Business failures were more frequent in July, and spread to Romania and Hungary. The crisis continued to get worse in Germany, bringing political upheaval that finally led to

4706-869: A very common issue. The Exposition took ten months to build. It attracted 7,220,000 visitors during its 377 days of operation. Visitors brought US$ 37.7 million to San Diego. The cost was US$ 20 million. Admission was 50 cents for adults and 25 cents for children 2–11. Four restaurants provided meals: Cafe of the World, Palisades Cafe, Spanish Kitchens, and the Pioneer Days Restaurant. Twenty-one nations participated: Argentina , British Empire , Chile , China , Czechoslovakia , Denmark , Germany , Honduras , Irish Free State , Italy , Japan , Nicaragua , Norway , Panama , Paraguay , Portugal , Sweden , Uruguay , United States and Yugoslavia . Park improvements amounted to US$ 6 million. The exposition

4887-675: A way station for its ships travelling to and from its colonies in the East Indies . Britain formally acquired the colony, and its large Afrikaner (or Boer ) population in 1806, having occupied it in 1795 to prevent its falling into French hands during the Flanders Campaign . British immigration to the Cape Colony began to rise after 1820, and pushed thousands of Boers , resentful of British rule, northwards to found their own—mostly short-lived— independent republics , during

5068-658: Is a consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse, by expanding the money supply and acting as lender of last resort . If they had done this, the economic downturn would have been far less severe and much shorter. Modern mainstream economists see the reasons in Insufficient spending, the money supply reduction, and debt on margin led to falling prices and further bankruptcies ( Irving Fisher 's debt deflation). The monetarist explanation

5249-505: Is seen by some historians as the event defining the transition between the first and second empires, in which Britain shifted its attention away from the Americas to Asia, the Pacific and later Africa. Adam Smith 's Wealth of Nations , published in 1776, had argued that colonies were redundant, and that free trade should replace the old mercantilist policies that had characterised the first period of colonial expansion, dating back to

5430-493: Is supported by the contrast in how the crisis progressed in, e.g., Britain, Argentina and Brazil, all of which devalued their currencies early and returned to normal patterns of growth relatively rapidly and countries which stuck to the gold standard , such as France or Belgium. Frantic attempts by individual countries to shore up their economies through protectionist policies – such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries – exacerbated

5611-539: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that

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5792-725: The Acts of Union 1707 . The 18th century saw the newly united Great Britain rise to be the world's dominant colonial power, with France becoming its main rival on the imperial stage. Great Britain, Portugal, the Netherlands, and the Holy Roman Empire continued the War of the Spanish Succession, which lasted until 1714 and was concluded by the Treaty of Utrecht . Philip V of Spain renounced his and his descendants' claim to

5973-671: The American War of Independence towards the end of the 18th century, has been referred to by some historians as the "First British Empire". England's early efforts at colonisation in the Americas met with mixed success. An attempt to establish a colony in Guiana in 1604 lasted only two years and failed in its main objective to find gold deposits. Colonies on the Caribbean islands of St Lucia  (1605) and Grenada  (1609) rapidly folded. The first permanent English settlement in

6154-707: The British economy . Added to this was the cost of suppressing regular slave rebellions . With support from the British abolitionist movement, Parliament enacted the Slave Trade Act in 1807, which abolished the slave trade in the empire. In 1808, Sierra Leone Colony was designated an official British colony for freed slaves. Parliamentary reform in 1832 saw the influence of the West India Committee decline. The Slavery Abolition Act , passed

6335-809: The First Anglo-Afghan War was a disaster for Britain. When Russia invaded the Ottoman Balkans in 1853, fears of Russian dominance in the Mediterranean and the Middle East led Britain and France to enter the war in support of the Ottoman Empire and invade the Crimean Peninsula to destroy Russian naval capabilities. The ensuing Crimean War (1854–1856), which involved new techniques of modern warfare ,

6516-683: The Government of India Act 1858 , establishing the British Raj , where an appointed governor-general administered India and Queen Victoria was crowned the Empress of India . India became the empire's most valuable possession, "the Jewel in the Crown", and was the most important source of Britain's strength. A series of serious crop failures in the late 19th century led to widespread famines on

6697-874: The Great Trek of the late 1830s and early 1840s. In the process the Voortrekkers clashed repeatedly with the British, who had their own agenda with regard to colonial expansion in South Africa and to the various native African polities, including those of the Sotho people and the Zulu Kingdom . Eventually, the Boers established two republics that had a longer lifespan: the South African Republic or Transvaal Republic (1852–1877; 1881–1902) and

6878-594: The Khedivate of Egypt into the 20th century, it was officially a vassal state of the Ottoman Empire and not part of the British Empire. The French were still majority shareholders and attempted to weaken the British position, but a compromise was reached with the 1888 Convention of Constantinople , which made the Canal officially neutral territory. With competitive French, Belgian and Portuguese activity in

7059-594: The Mahdist Army in 1896 and rebuffed an attempted French invasion at Fashoda in 1898. Sudan was nominally made an Anglo-Egyptian condominium , but a British colony in reality. British gains in Southern and East Africa prompted Cecil Rhodes , pioneer of British expansion in Southern Africa , to urge a " Cape to Cairo " railway linking the strategically important Suez Canal to the mineral-rich south of

7240-639: The Maratha Confederacy . The First Anglo-Maratha War ended in 1782 with a restoration of the pre-war status quo . The Second and Third Anglo-Maratha wars resulted in British victories. After the surrender of Peshwa Bajirao II on 1818, the East India Company acquired control of a large majority of the Indian subcontinent. Britain was challenged again by France under Napoleon, in a struggle that, unlike previous wars, represented

7421-669: The Munster Plantations , in 16th century Ireland by settling it with English and Welsh Protestant settlers. England had already colonised part of the country following the Norman invasion of Ireland in 1169. Several people who helped establish the Munster plantations later played a part in the early colonisation of North America, particularly a group known as the West Country Men . In 1578, Elizabeth I granted

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7602-406: The New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of

7783-409: The Orange Free State (1854–1902). In 1902 Britain occupied both republics, concluding a treaty with the two Boer Republics following the Second Boer War (1899–1902). In 1869 the Suez Canal opened under Napoleon III , linking the Mediterranean Sea with the Indian Ocean . Initially the Canal was opposed by the British; but once opened, its strategic value was quickly recognised and became

7964-419: The Pacific . After the defeat of France in the Napoleonic Wars (1803–1815), Britain emerged as the principal naval and imperial power of the 19th century and expanded its imperial holdings. It pursued trade concessions in China and Japan, and territory in Southeast Asia . The " Great Game " and " Scramble for Africa " also ensued. The period of relative peace (1815–1914) during which the British Empire became

8145-411: The Royal African Company was granted a monopoly on the supply of slaves to the British colonies in the Caribbean. The company would transport more slaves across the Atlantic than any other, and significantly grew England's share of the trade, from 33 per cent in 1673 to 74 per cent in 1683. The removal of this monopoly between 1688 and 1712 allowed independent British slave traders to thrive, leading to

8326-500: The Saint John and Saint Croix river valleys, then part of Nova Scotia , felt too far removed from the provincial government in Halifax , so London split off New Brunswick as a separate colony in 1784. The Constitutional Act of 1791 created the provinces of Upper Canada (mainly English speaking ) and Lower Canada (mainly French-speaking ) to defuse tensions between the French and British communities, and implemented governmental systems similar to those employed in Britain, with

8507-443: The Seychelles , and Tobago ; Spain ceded Trinidad ; the Netherlands ceded Guiana , Ceylon and the Cape Colony , while the Danish ceded Heligoland . Britain returned Guadeloupe , Martinique , French Guiana , and Réunion to France; Menorca to Spain; Danish West Indies to Denmark and Java and Suriname to the Netherlands. With the advent of the Industrial Revolution , goods produced by slavery became less important to

8688-441: The Treaty of Paris of 1763 had important consequences for the future of the British Empire. In North America, France's future as a colonial power effectively ended with the recognition of British claims to Rupert's Land, and the ceding of New France to Britain (leaving a sizeable French-speaking population under British control) and Louisiana to Spain. Spain ceded Florida to Britain. Along with its victory over France in India,

8869-417: The Victorian gold rush , making its capital Melbourne for a time the richest city in the world. The British also expanded their mercantile interests in the North Pacific. Spain and Britain had become rivals in the area, culminating in the Nootka Crisis in 1789. Both sides mobilised for war, but when France refused to support Spain it was forced to back down, leading to the Nootka Convention . The outcome

9050-454: The War of 1812 , and invaded Canadian territory. In response, Britain invaded the US, but the pre-war boundaries were reaffirmed by the 1814 Treaty of Ghent , ensuring Canada's future would be separate from that of the United States. Since 1718, transportation to the American colonies had been a penalty for various offences in Britain, with approximately one thousand convicts transported per year. Forced to find an alternative location after

9231-412: The coming to power of Hitler's Nazi regime in January 1933. The world financial crisis now began to overwhelm Britain; investors around the world started withdrawing their gold from London at the rate of £2.5 million per day. Credits of £25 million each from the Bank of France and the Federal Reserve Bank of New York and an issue of £15 million fiduciary note slowed, but did not reverse,

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9412-545: The metropole and the entirety of the empire while at the same time maintaining the policy of "splendid isolation". Germany was rapidly rising as a military and industrial power and was now seen as the most likely opponent in any future war. Recognising that it was overstretched in the Pacific and threatened at home by the Imperial German Navy , Britain formed an alliance with Japan in 1902 and with its old enemies France and Russia in 1904 and 1907, respectively. Britain's fears of war with Germany were realised in 1914 with

9593-415: The now-called in 1935–36, had a stock company of actors that signed with the Screen Actors Guild and The Dominos Club of Hollywood (social organization for actresses, including: Carole Lombard , Thelma Todd , and ZaSu Pitts ). The buildings from the 1915 fair were in Spanish Colonial Revival architecture style, designed by Bertram Goodhue and Carleton Winslow . Architect Richard Requa designed

9774-490: The overseas possessions and trading posts established by England in the late 16th and early 17th centuries. At its height in the 19th and early 20th centuries, it was the largest empire in history and, for a century, was the foremost global power. By 1913, the British Empire held sway over 412 million people, 23 percent of the world population at the time, and by 1920, it covered 35.5 million km (13.7 million sq mi), 24 per cent of

9955-440: The protectionism of Spain and Portugal. The growth of trade between the newly independent United States and Britain after 1783 seemed to confirm Smith's view that political control was not necessary for economic success. The war to the south influenced British policy in Canada, where between 40,000 and 100,000 defeated Loyalists had migrated from the new United States following independence. The 14,000 Loyalists who went to

10136-399: The spice trade of the East Indies archipelago to the Netherlands and the textiles industry of India to England, but textiles soon overtook spices in terms of profitability. Peace between England and the Netherlands in 1688 meant the two countries entered the Nine Years' War as allies, but the conflict—waged in Europe and overseas between France, Spain and the Anglo-Dutch alliance—left

10317-414: The stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until the Wall Street crash, after which the slide continued for three years, which

10498-428: The "One Ton Mechanical Man." The idea for an exposition came from Frank Drugan, a newcomer to San Diego, California, who arrived in 1933. He recognized the potential of the buildings in Balboa Park left over from the 1915–16 exposition; the buildings had been designed to be temporary, but had been refurbished and upgraded several times and were available for use. In addition, Chicago 's " Century of Progress " fair

10679-475: The "Sugar Revolution" transformed the Caribbean economy in the mid-17th century. Large sugarcane plantations were first established in the 1640s on Barbados, with assistance from Dutch merchants and Sephardic Jews fleeing Portuguese Brazil . At first, sugar was grown primarily using white indentured labour , but rising costs soon led English traders to embrace the use of imported African slaves. The enormous wealth generated by slave-produced sugar made Barbados

10860-480: The "jugular vein of the Empire". In 1875, the Conservative government of Benjamin Disraeli bought the indebted Egyptian ruler Isma'il Pasha 's 44 per cent shareholding in the Suez Canal for £4 million (equivalent to £480 million in 2023). Although this did not grant outright control of the strategic waterway, it did give Britain leverage. Joint Anglo-French financial control over Egypt ended in outright British occupation in 1882. Although Britain controlled

11041-428: The 1730s. This trade, illegal since it was outlawed by China in 1729, helped reverse the trade imbalances resulting from the British imports of tea, which saw large outflows of silver from Britain to China. In 1839, the confiscation by the Chinese authorities at Canton of 20,000 chests of opium led Britain to attack China in the First Opium War , and resulted in the seizure by Britain of Hong Kong Island , at that time

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11222-456: The 1920s. By the start of the 20th century, Germany and the United States had begun to challenge Britain's economic lead. Military, economic and colonial tensions between Britain and Germany were major causes of the First World War , during which Britain relied heavily on its empire. The conflict placed enormous strain on its military, financial, and manpower resources. Although the empire achieved its largest territorial extent immediately after

11403-447: The 1937 recession that interrupted it). The common view among most economists is that Roosevelt's New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Some economists have also called attention to the positive effects from expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended. It

11584-414: The Americas was founded in 1607 in Jamestown by Captain John Smith , and managed by the Virginia Company ; the Crown took direct control of the venture in 1624, thereby founding the Colony of Virginia . Bermuda was settled and claimed by England as a result of the 1609 shipwreck of the Virginia Company's flagship , while attempts to settle Newfoundland were largely unsuccessful. In 1620, Plymouth

11765-511: The Americas were made until well into the reign of Queen Elizabeth I , during the last decades of the 16th century. In the meantime, Henry VIII 's 1533 Statute in Restraint of Appeals had declared "that this realm of England is an Empire". The Protestant Reformation turned England and Catholic Spain into implacable enemies. In 1562, Elizabeth I encouraged the privateers John Hawkins and Francis Drake to engage in slave-raiding attacks against Spanish and Portuguese ships off

11946-479: The British Caribbean, the percentage of the population of African descent rose from 25 per cent in 1650 to around 80 per cent in 1780, and in the Thirteen Colonies from 10 per cent to 40 per cent over the same period (the majority in the southern colonies). The transatlantic slave trade played a pervasive role in British economic life, and became a major economic mainstay for western port cities. Ships registered in Bristol , Liverpool and London were responsible for

12127-443: The British Empire as the new United States of America . The entry of French and Spanish forces into the war tipped the military balance in the Americans' favour and after a decisive defeat at Yorktown in 1781, Britain began negotiating peace terms. American independence was acknowledged at the Peace of Paris in 1783. The loss of such a large portion of British America , at the time Britain's most populous overseas possession,

12308-597: The British crisis. The financial crisis now caused a major political crisis in Britain in August 1931. With deficits mounting, the bankers demanded a balanced budget; the divided cabinet of Prime Minister Ramsay MacDonald's Labour government agreed; it proposed to raise taxes, cut spending, and most controversially, to cut unemployment benefits 20%. The attack on welfare was unacceptable to the Labour movement. MacDonald wanted to resign, but King George V insisted he remain and form an all-party coalition " National Government ". The Conservative and Liberals parties signed on, along with

12489-425: The British defeated the Nawab of Bengal and his French allies, left the British East India Company in control of Bengal and as a major military and political power in India. France was left control of its enclaves but with military restrictions and an obligation to support British client states , ending French hopes of controlling India. In the following decades the British East India Company gradually increased

12670-407: The Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts. During World War I many countries suspended their gold standard in varying ways. There was high inflation from WWI, and in the 1920s in the Weimar Republic , Austria , and throughout Europe. In the late 1920s there

12851-420: The Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, consumers, many of whom suffered severe losses in the stock market the previous year, cut expenditures by 10%. In addition, beginning in

13032-501: The Earth's total land area. As a result, its constitutional , legal , linguistic , and cultural legacy is widespread. At the peak of its power, it was described as " the empire on which the sun never sets ", as the sun was always shining on at least one of its territories. During the Age of Discovery in the 15th and 16th centuries, Portugal and Spain pioneered European exploration of

13213-662: The English a stronger colonial power than the Dutch, who were forced to devote a larger proportion of their military budget to the costly land war in Europe. The death of Charles II of Spain in 1700 and his bequeathal of Spain and its colonial empire to Philip V of Spain , a grandson of the King of France , raised the prospect of the unification of France, Spain and their respective colonies, an unacceptable state of affairs for England and

13394-554: The Federal Reserve did not act to limit the decline of the money supply was the gold standard . At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act , which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit

13575-716: The First World War, Britain was no longer the world's preeminent industrial or military power. In the Second World War , Britain's colonies in East Asia and Southeast Asia were occupied by the Empire of Japan . Despite the final victory of Britain and its allies , the damage to British prestige and the British economy helped accelerate the decline of the empire. India , Britain's most valuable and populous possession, achieved independence in 1947 as part of

13756-696: The French throne, and Spain lost its empire in Europe. The British Empire was territorially enlarged: from France, Britain gained Newfoundland and Acadia , and from Spain, Gibraltar and Menorca . Gibraltar became a critical naval base and allowed Britain to control the Atlantic entry and exit point to the Mediterranean . Spain ceded the rights to the lucrative asiento (permission to sell African slaves in Spanish America ) to Britain. With

13937-442: The Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today there is also significant academic support for the debt deflation theory and the expectations hypothesis that – building on the monetary explanation of Milton Friedman and Anna Schwartz – add non-monetary explanations. There

14118-642: The Great Depression. According to the U.S. Senate website, the Smoot–Hawley Tariff Act is among the most catastrophic acts in congressional history. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. Most historians and economists blame the Act for worsening the depression by seriously reducing international trade and causing retaliatory tariffs in other countries. While foreign trade

14299-559: The Māori population. The UK government finally decided to act, dispatching Captain William Hobson with instructions to take formal possession after obtaining native consent. There was no central Māori authority able to represent all New Zealand so, on 6 February 1840, Hobson and many Māori chiefs signed the Treaty of Waitangi in the Bay of Islands; most other chiefs signing in stages over

14480-661: The Netherlands as a colonial power, in the short term the Netherlands' more advanced financial system and the three Anglo-Dutch Wars of the 17th century left it with a stronger position in Asia. Hostilities ceased after the Glorious Revolution of 1688 when the Dutch William of Orange ascended the English throne, bringing peace between the Dutch Republic and England. A deal between the two nations left

14661-481: The New Deal prolonged the Great Depression, as they argue that National Industrial Recovery Act of 1933 and National Labor Relations Act of 1935 restricted competition and established price fixing. John Maynard Keynes did not think that the New Deal under Roosevelt single-handedly ended the Great Depression: "It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on

14842-468: The Pacific between 1769 and 1777, James Cook visited New Zealand . He was followed by an assortment of Europeans and Americans which including whalers, sealers, escaped convicts from New South Wales, missionaries and adventurers. Initially, contact with the indigenous Māori people was limited to the trading of goods, although interaction increased during the early decades of the 19th century with many trading and missionary stations being set up, especially in

15023-675: The Pacific for the extension of the North American fur trade . Alexander Mackenzie of the North West Company led the first, starting out in 1792, and a year later he became the first European to reach the Pacific overland north of the Rio Grande , reaching the ocean near present-day Bella Coola . This preceded the Lewis and Clark Expedition by twelve years. Shortly thereafter, Mackenzie's companion, John Finlay , founded

15204-618: The Royal Navy during the Seven Years' War, and the two continued to co-operate in arenas outside India: the eviction of the French from Egypt (1799), the capture of Java from the Netherlands (1811), the acquisition of Penang Island (1786), Singapore (1819) and Malacca (1824), and the defeat of Burma (1826). From its base in India, the company had been engaged in an increasingly profitable opium export trade to Qing China since

15385-573: The Seven Years' War therefore left Britain as the world's most powerful maritime power . During the 1760s and early 1770s, relations between the Thirteen Colonies and Britain became increasingly strained, primarily because of resentment of the British Parliament's attempts to govern and tax American colonists without their consent. This was summarised at the time by the colonists' slogan " No taxation without representation ",

15566-762: The Spanish, and in 1666 succeeded in colonising the Bahamas . In 1670, Charles II incorporated by royal charter the Hudson's Bay Company (HBC), granting it a monopoly on the fur trade in the area known as Rupert's Land , which would later form a large proportion of the Dominion of Canada . Forts and trading posts established by the HBC were frequently the subject of attacks by the French, who had established their own fur trading colony in adjacent New France . Two years later,

15747-544: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This

15928-549: The U.S. unemployment rate down below 10%. World War II had a dramatic effect on many parts of the American economy. Government-financed capital spending accounted for only 5% of the annual U.S. investment in industrial capital in 1940; by 1943, the government accounted for 67% of U.S. capital investment. The massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending

16109-685: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in

16290-543: The United States, remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36. According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had

16471-645: The annexation of the Dutch colony of New Netherland in 1664, following the capture of New Amsterdam , which was renamed New York . Although less financially successful than colonies in the Caribbean, these territories had large areas of good agricultural land and attracted far greater numbers of English emigrants, who preferred their temperate climates. The British West Indies initially provided England's most important and lucrative colonies. Settlements were successfully established in St. Kitts  (1624), Barbados  (1627) and Nevis  (1628), but struggled until

16652-561: The apprenticeship system was abolished in 1838. The British government compensated slave-owners. Between 1815 and 1914, a period referred to as Britain's "imperial century" by some historians, around 10 million sq mi (26 million km ) of territory and roughly 400 million people were added to the British Empire. Victory over Napoleon left Britain without any serious international rival, other than Russia in Central Asia . Unchallenged at sea, Britain adopted

16833-528: The armies of the Dominions , as well as many thousands of volunteers from the Crown colonies. The contributions of Australian and New Zealand troops during the 1915 Gallipoli Campaign against the Ottoman Empire had a great impact on the national consciousness at home and marked a watershed in the transition of Australia and New Zealand from colonies to nations in their own right. The countries continue to commemorate this occasion on Anzac Day . Canadians viewed

17014-460: The banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did. With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch . One reason why

17195-465: The behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II . Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery, though it did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate

17376-690: The buildings most deteriorated or that had burned were carefully rebuilt to restore the original style and scale of the park's public spaces. In October 2010, the National Building Museum in Washington, D.C. opened an exhibition titled Designing Tomorrow: America's World's Fairs of the 1930s . This exhibition, which was available for view until September 2011, prominently featured the California Pacific International Exposition. Featured on

17557-589: The bulk of British slave trading. For the transported, harsh and unhygienic conditions on the slaving ships and poor diets meant that the average mortality rate during the Middle Passage was one in seven. At the end of the 16th century, England and the Dutch Empire began to challenge the Portuguese Empire 's monopoly of trade with Asia, forming private joint-stock companies to finance

17738-529: The business of establishing its own overseas colonies. The British Empire began to take shape during the early 17th century, with the English settlement of North America and the smaller islands of the Caribbean, and the establishment of joint-stock companies , most notably the East India Company , to administer colonies and overseas trade. This period, until the loss of the Thirteen Colonies after

17919-571: The coast of West Africa with the aim of establishing an Atlantic slave trade . This effort was rebuffed and later, as the Anglo-Spanish Wars intensified, Elizabeth I gave her blessing to further privateering raids against Spanish ports in the Americas and shipping that was returning across the Atlantic, laden with treasure from the New World . At the same time, influential writers such as Richard Hakluyt and John Dee (who

18100-462: The collapse in global trade, contributing to the depression. By 1933, the economic decline pushed world trade to one third of its level compared to four years earlier. While the precise causes for the occurrence of the Great depression are disputed and can be traced to both global and national phenomena, its immediate origins are most conveniently examined in the context of the U.S. economy, from which

18281-470: The colony was abandoned two years later. The Darien scheme was a financial disaster for Scotland: a quarter of Scottish capital was lost in the enterprise. The episode had major political consequences, helping to persuade the government of the Kingdom of Scotland of the merits of turning the personal union with England into a political and economic one under the Kingdom of Great Britain established by

18462-457: The continent. During the 1880s and 1890s, Rhodes, with his privately owned British South Africa Company , occupied and annexed territories named after him, Rhodesia . The path to independence for the white colonies of the British Empire began with the 1839 Durham Report , which proposed unification and self-government for Upper and Lower Canada, as a solution to political unrest which had erupted in armed rebellions in 1837. This began with

18643-475: The crash was a mere symptom of more general economic trends of the time, which had already been underway in the late 1920s. A contrasting set of views, which rose to prominence in the later part of the 20th century, ascribes a more prominent role to failures of monetary policy . According to those authors, while general economic trends can explain the emergence of the downturn, they fail to account for its severity and longevity; they argue that these were caused by

18824-625: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what

19005-633: The decade. The Depression had devastating economic effects on both wealthy and poor countries: all experienced drops in personal income , prices ( deflation ), tax revenues, and profits. International trade fell by more than 50%, and unemployment in some countries rose as high as 33%. Cities around the world , especially those dependent on heavy industry , were heavily affected. Construction virtually halted in many countries, and farming communities and rural areas suffered as crop prices fell by up to 60%. Faced with plummeting demand and few job alternatives, areas dependent on primary sector industries suffered

19186-408: The depression. Not all governments enforced the same measures of protectionism. Some countries raised tariffs drastically and enforced severe restrictions on foreign exchange transactions, while other countries reduced "trade and exchange restrictions only marginally": The gold standard was the primary transmission mechanism of the Great Depression. Even countries that did not face bank failures and

19367-435: The domestic price level to decline ( deflation ). There is also consensus that protectionist policies, and primarily the passage of the Smoot–Hawley Tariff Act , helped to exacerbate, or even cause the Great Depression. Some economic studies have indicated that the rigidities of the gold standard not only spread the downturn worldwide, but also suspended gold convertibility (devaluing the currency in gold terms) that did

19548-546: The dominions, joined the Commonwealth of Nations , a free association of independent states. Fifteen of these, including the United Kingdom, retain the same person as monarch , currently King Charles III . The foundations of the British Empire were laid when England and Scotland were separate kingdoms. In 1496, King Henry VII of England , following the successes of Spain and Portugal in overseas exploration, commissioned John Cabot to lead an expedition to discover

19729-402: The drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of

19910-427: The economies of Europe in 1937–1939. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. The American mobilization for World War II at the end of 1941 moved approximately ten million people out of the civilian labor force and into the war. This finally eliminated the last effects from the Great Depression and brought

20091-576: The end of the month. A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday , the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop. Thousands of investors were ruined, and billions of dollars had been lost; many stocks could not be sold at any price. The market recovered 12% on Wednesday but by then significant damage had been done. Though

20272-576: The exception of international relations . Australia and New Zealand achieved similar levels of self-government after 1900, with the Australian colonies federating in 1901 . The term "dominion status" was officially introduced at the 1907 Imperial Conference . As the dominions gained greater autonomy, they would come to be recognized as distinct realms of the empire with unique customs and symbols of their own. Imperial identity, through imagery such as patriotic artworks and banners, began developing into

20453-500: The explanations of the Keynesians and monetarists. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating

20634-503: The few women in the labor force, layoffs were less common in the white-collar jobs and they were typically found in light manufacturing work. However, there was a widespread demand to limit families to one paid job, so that wives might lose employment if their husband was employed. Across Britain, there was a tendency for married women to join the labor force, competing for part-time jobs especially. In France, very slow population growth, especially in comparison to Germany continued to be

20815-684: The first permanent European settlement in British Columbia , Fort St. John . The North West Company sought further exploration and backed expeditions by David Thompson , starting in 1797, and later by Simon Fraser . These pushed into the wilderness territories of the Rocky Mountains and Interior Plateau to the Strait of Georgia on the Pacific Coast, expanding British North America westward. The East India Company fought

20996-505: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August

21177-578: The following months. William Hobson declared British sovereignty over all New Zealand on 21 May 1840, over the North Island by cession and over the South Islnd by discovery (the island was sparsely populated and deemed terra nullius ). Hobson became Lieutenant-Governor, subject to Governor Sir George Gipps in Sydney, with British possession of New Zealand initially administered from Australia as

21358-467: The following year, abolished slavery in the British Empire on 1 August 1834, finally bringing the empire into line with the law in the UK (with the exception of the territories administered by the East India Company and Ceylon, where slavery was ended in 1844). Under the Act, slaves were granted full emancipation after a period of four to six years of "apprenticeship". Facing further opposition from abolitionists,

21539-444: The front side of Spreckels Organ Pavilion is a fountain dedicated to the workers of the 1936 California Pacific International Exposition. Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around

21720-495: The garden at Cafe del Rey Moro are all Requa designs. In honor of the California Pacific International Exposition, the federal government released a commemorative silver half dollar . A three-cent postage stamp ( Scott catalog 773) was also issued. It presents a view of the Exposition grounds, and has the same wording as the reverse of the half dollar, plus the dates "1535 1935". Over 100 million were printed, making this

21901-659: The global hegemon was later described as Pax Britannica (Latin for "British Peace"). Alongside the formal control that Britain exerted over its colonies, its dominance of much of world trade, and of its oceans, meant that it effectively controlled the economies of, and readily enforced its interests in, many regions , such as Asia and Latin America . It also came to dominate the Middle East . Increasing degrees of autonomy were granted to its white settler colonies , some of which were formally reclassified as Dominions by

22082-586: The globe, and in the process established large overseas empires. Envious of the great wealth these empires generated, England, France , and the Netherlands began to establish colonies and trade networks of their own in the Americas and Asia . A series of wars in the 17th and 18th centuries with the Netherlands and France left Britain the dominant colonial power in North America . Britain became

22263-679: The government on the suitability of Botany Bay for the establishment of a penal settlement , and in 1787 the first shipment of convicts set sail, arriving in 1788. Unusually, Australia was claimed through proclamation. Indigenous Australians were considered too uncivilised to require treaties, and colonisation brought disease and violence that together with the deliberate dispossession of land and culture were devastating to these peoples. Britain continued to transport convicts to New South Wales until 1840, to Tasmania until 1853 and to Western Australia until 1868. The Australian colonies became profitable exporters of wool and gold, mainly because of

22444-606: The government tried to reshape private household consumption under the Four-Year Plan of 1936 to achieve German economic self-sufficiency. The Nazi women's organizations, other propaganda agencies and the authorities all attempted to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing

22625-519: The home, or took boarders, did laundry for trade or cash, and did sewing for neighbors in exchange for something they could offer. Extended families used mutual aid—extra food, spare rooms, repair-work, cash loans—to help cousins and in-laws. In Japan, official government policy was deflationary and the opposite of Keynesian spending. Consequently, the government launched a campaign across the country to induce households to reduce their consumption, focusing attention on spending by housewives. In Germany,

22806-500: The increasingly healthy profits of colonial trade remained in English hands, Parliament decreed in 1651 that only English ships would be able to ply their trade in English colonies. This led to hostilities with the United Dutch Provinces —a series of Anglo-Dutch Wars —which would eventually strengthen England's position in the Americas at the expense of the Dutch. In 1655, England annexed the island of Jamaica from

22987-527: The initial crisis spread to the rest of the world. In the aftermath of World War I , the Roaring Twenties brought considerable wealth to the United States and Western Europe. Initially, the year 1929 dawned with good economic prospects: despite a minor crash on 25 March 1929, the market seemed to gradually improve through September. Stock prices began to slump in September, and were volatile at

23168-559: The intention of asserting imperial authority and not allowing the sort of popular control of government that was perceived to have led to the American Revolution. Tensions between Britain and the United States escalated again during the Napoleonic Wars , as Britain tried to cut off American trade with France and boarded American ships to impress men into the Royal Navy . The United States Congress declared war,

23349-563: The lack of an adequate response to the crises of liquidity that followed the initial economic shock of 1929 and the subsequent bank failures accompanied by a general collapse of the financial markets. After the Wall Street Crash of 1929 , when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with

23530-578: The larger trade, by 1720, in terms of sales, the British company had overtaken the Dutch. During the middle decades of the 18th century, there were several outbreaks of military conflict on the Indian subcontinent , as the English East India Company and its French counterpart , struggled alongside local rulers to fill the vacuum that had been left by the decline of the Mughal Empire . The Battle of Plassey in 1757, in which

23711-510: The loss of the Thirteen Colonies in 1783, the British government looked for an alternative, eventually turning to Australia . On his first of three voyages commissioned by the government, James Cook reached New Zealand in October 1769. He was the first European to circumnavigate and map the country. From the late 18th century, the country was regularly visited by explorers and other sailors, missionaries , traders and adventurers but no attempt

23892-632: The lower Congo River region undermining orderly colonisation of tropical Africa, the Berlin Conference of 1884–85 was held to regulate the competition between the European powers in what was called the " Scramble for Africa " by defining "effective occupation" as the criterion for international recognition of territorial claims. The scramble continued into the 1890s, and caused Britain to reconsider its decision in 1885 to withdraw from Sudan . A joint force of British and Egyptian troops defeated

24073-521: The market entered a period of recovery from 14 November until 17 April 1930, the general situation had been a prolonged slump. From 17 April 1930 until 8 July 1932, the market continued to lose 89% of its value. Despite the crash, the worst of the crisis did not reverberate around the world until after 1929. The crisis hit panic levels again in December 1930, with a bank run on the Bank of United States ,

24254-414: The mid-1930s, a severe drought ravaged the agricultural heartland of the U.S. Interest rates dropped to low levels by mid-1930, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment remained low. By May 1930, automobile sales declined to below the levels of 1928. Prices, in general, began to decline, although wages held steady in 1930. Then

24435-423: The monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action. This view

24616-493: The most successful colony in the Americas, and one of the most densely populated places in the world. This boom led to the spread of sugar cultivation across the Caribbean, financed the development of non-plantation colonies in North America, and accelerated the growth of the Atlantic slave trade , particularly the triangular trade of slaves, sugar and provisions between Africa, the West Indies and Europe. To ensure that

24797-502: The most to make recovery possible. Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves , in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets. Japan and the Scandinavian countries followed in 1931. Other countries, such as Italy and

24978-487: The most. The outbreak of World War II in 1939 ended the Depression, as it stimulated factory production, providing jobs for women as militaries absorbed large numbers of young, unemployed men. The precise causes for the Great Depression are disputed. One set of historians, for example, focuses on non-monetary economic causes. Among these, some regard the Wall Street crash itself as the main cause; others consider that

25159-582: The need to balance the national budget and was unwilling to implement expensive welfare spending . In 1930, Hoover signed the Smoot–Hawley Tariff Act , which taxed imports with the intention of encouraging buyers to purchase American products, which worsened the Depression because foreign governments retaliated with tariffs on American exports. In 1932, Hoover established the Reconstruction Finance Corporation , which offered loans to businesses and support to local governments. In

25340-455: The new permanent buildings to be added for the 1935 fair. He wrote that his goal was to relate pre-Columbian Indian buildings and temples, like those found in the Southwest and Mexico, to the modern era; his model was the 1915 New Mexico Building, which he remodeled into a Palace of Education. Many of the new large buildings were in this style, including the California State Building (now the San Diego Automotive Museum ), Palace of Electricity (now

25521-428: The north. The first of several Church of England missionaries arrived in 1814 and as well as their missionary role, they soon become the only form of European authority in a land that was not subject to British jurisdiction: the closest authority being the New South Wales governor in Sydney. The sale of weapons to Māori resulted from 1818 on in the intertribal warfare of the Musket Wars , with devastating consequences for

25702-454: The other powers of Europe. In 1701, England, Portugal and the Netherlands sided with the Holy Roman Empire against Spain and France in the War of the Spanish Succession , which lasted for thirteen years. In 1695, the Parliament of Scotland granted a charter to the Company of Scotland , which established a settlement in 1698 on the Isthmus of Panama . Besieged by neighbouring Spanish colonists of New Granada , and affected by malaria ,

25883-495: The outbreak of the Anglo-Spanish War of Jenkins' Ear in 1739, Spanish privateers attacked British merchant shipping along the Triangle Trade routes. In 1746, the Spanish and British began peace talks, with the King of Spain agreeing to stop all attacks on British shipping; however, in the 1750 Treaty of Madrid Britain lost its slave-trading rights in Latin America . In the East Indies, British and Dutch merchants continued to compete in spices and textiles. With textiles becoming

26064-421: The outbreak of the First World War. Britain quickly invaded and occupied most of Germany's overseas colonies in Africa. In the Pacific, Australia and New Zealand occupied German New Guinea and German Samoa respectively. Plans for a post-war division of the Ottoman Empire, which had joined the war on Germany's side, were secretly drawn up by Britain and France under the 1916 Sykes–Picot Agreement . This agreement

26245-434: The passing of the Act of Union in 1840, which created the Province of Canada . Responsible government was first granted to Nova Scotia in 1848, and was soon extended to the other British North American colonies. With the passage of the British North America Act, 1867 by the British Parliament , the Province of Canada, New Brunswick and Nova Scotia were formed into Canada, a confederation enjoying full self-government with

26426-483: The physical volume of exports fall, but also the prices fell by about 1 ⁄ 3 as written. Hardest hit were farm commodities such as wheat, cotton, tobacco, and lumber. Governments around the world took various steps into spending less money on foreign goods such as: "imposing tariffs, import quotas, and exchange controls". These restrictions triggered much tension among countries that had large amounts of bilateral trade, causing major export-import reductions during

26607-431: The policies prolonged the Depression instead of shortening it. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%; in the U.S., the Depression resulted in a 30% contraction in GDP. Recovery varied greatly around the world. Some economies, such as the U.S., Germany and Japan started to recover by the mid-1930s; others, like France, did not return to pre-shock growth rates until later in

26788-406: The political situation in Europe. In their book, A Monetary History of the United States , Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System . Chairman of the Federal Reserve (2006–2014) Ben Bernanke agreed that monetary factors played important roles both in

26969-448: The power vacuums that had been left by the declining Ottoman Empire , Qajar dynasty and Qing dynasty . This rivalry in Central Asia came to be known as the "Great Game". As far as Britain was concerned, defeats inflicted by Russia on Persia and Turkey demonstrated its imperial ambitions and capabilities and stoked fears in Britain of an overland invasion of India. In 1839, Britain moved to pre-empt this by invading Afghanistan , but

27150-405: The region in 1878 and on all outstanding matters in 1907 with the signing of the Anglo-Russian Entente . The destruction of the Imperial Russian Navy by the Imperial Japanese Navy at the Battle of Tsushima during the Russo-Japanese War of 1904–1905 limited its threat to the British. The Dutch East India Company had founded the Dutch Cape Colony on the southern tip of Africa in 1652 as

27331-563: The return journey to England and was succeeded by his half-brother, Walter Raleigh , who was granted his own patent by Elizabeth in 1584. Later that year, Raleigh founded the Roanoke Colony on the coast of present-day North Carolina , but lack of supplies caused the colony to fail. In 1603, James VI of Scotland ascended (as James I) to the English throne and in 1604 negotiated the Treaty of London , ending hostilities with Spain. Now at peace with its main rival, English attention shifted from preying on other nations' colonial infrastructures to

27512-450: The role of global policeman, a state of affairs later known as the Pax Britannica , and a foreign policy of " splendid isolation ". Alongside the formal control it exerted over its own colonies, Britain's dominant position in world trade meant that it effectively controlled the economies of many countries, such as China, Argentina and Siam , which has been described by some historians as an " Informal Empire ". British imperial strength

27693-434: The scale necessary to make the grand experiments which would prove my case—except in war conditions." According to Christina Romer , the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of

27874-423: The size of the territories under its control, either ruling directly or via local rulers under the threat of force from the Presidency Armies , the vast majority of which was composed of Indian sepoys , led by British officers. The British and French struggles in India became but one theatre of the global Seven Years' War (1756–1763) involving France, Britain, and the other major European powers. The signing of

28055-450: The sovereignty of the Crown over the territories that it had acquired. The company's eventual end was precipitated by the Indian Rebellion in 1857, a conflict that had begun with the mutiny of sepoys, Indian troops under British officers and discipline. The rebellion took six months to suppress, with heavy loss of life on both sides. The following year the British government dissolved the company and assumed direct control over India through

28236-419: The subcontinent in which it is estimated that over 15 million people died. The East India Company had failed to implement any coordinated policy to deal with the famines during its period of rule. Later, under direct British rule, commissions were set up after each famine to investigate the causes and implement new policies, which took until the early 1900s to have an effect. On each of his three voyages to

28417-440: The voyages—the English, later British, East India Company and the Dutch East India Company , chartered in 1600 and 1602 respectively. The primary aim of these companies was to tap into the lucrative spice trade , an effort focused mainly on two regions: the East Indies archipelago , and an important hub in the trade network, India. There, they competed for trade supremacy with Portugal and with each other. Although England eclipsed

28598-420: The world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and

28779-508: The world. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in political turmoil. With the rise in violence of National Socialist ('Nazi') and Communist movements, as well as investor nervousness at harsh government financial policies, investors withdrew their short-term money from Germany as confidence spiraled downward. The Reichsbank lost 150 million marks in

28960-431: The world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. The Depression was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on

29141-778: The worldwide economic decline and eventual recovery. Bernanke also saw a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system, and pointed out that the Depression should be examined in an international perspective. Women's primary role was as housewives; without a steady flow of family income, their work became much harder in dealing with food and clothing and medical care. Birthrates fell everywhere, as children were postponed until families could financially support them. The average birthrate for 14 major countries fell 12% from 19.3 births per thousand population in 1930, to 17.0 in 1935. In Canada, half of Roman Catholic women defied Church teachings and used contraception to postpone births. Among

29322-405: Was a humiliation for Spain, which practically renounced all sovereignty on the North Pacific coast. This opened the way to British expansion in the area, and a number of expeditions took place; firstly a naval expedition led by George Vancouver which explored the inlets around the Pacific North West, particularly around Vancouver Island . On land, expeditions sought to discover a river route to

29503-478: Was a scramble to deflate prices to get the gold standard's conversation rates back on track to pre-WWI levels, by causing deflation and high unemployment through monetary policy. In 1933 FDR signed Executive Order 6102 and in 1934 signed the Gold Reserve Act . The two classic competing economic theories of the Great Depression are the Keynesian (demand-driven) and the Monetarist explanation. There are also various heterodox theories that downplay or reject

29684-478: Was a small part of overall economic activity in the U.S. and was concentrated in a few businesses like farming, it was a much larger factor in many other countries. The average ad valorem (value based) rate of duties on dutiable imports for 1921–1925 was 25.9% but under the new tariff it jumped to 50% during 1931–1935. In dollar terms, American exports declined over the next four years from about $ 5.2 billion in 1929 to $ 1.7 billion in 1933; so, not only did

29865-500: Was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in

30046-474: Was endorsed in 2002 by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again. The Federal Reserve allowed some large public bank failures – particularly that of

30227-412: Was formed by citizens to protect the park buildings. The Committee convinced the City Council to enact resolutions that now require any new buildings to be designed and constructed in the Spanish Colonial Revival style . The Committee also worked with various government agencies for the remaining original buildings to be declared a National Historic Landmark , which was awarded in 1978. In the latter 1990s

30408-481: Was founded as a haven by Puritan religious separatists, later known as the Pilgrims . Fleeing from religious persecution would become the motive for many English would-be colonists to risk the arduous trans-Atlantic voyage : Maryland was established by English Roman Catholics  (1634), Rhode Island  (1636) as a colony tolerant of all religions and Connecticut (1639) for Congregationalists . England's North American holdings were further expanded by

30589-426: Was given by American economists Milton Friedman and Anna J. Schwartz . They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction ". This caused a price drop of 33% ( deflation ). By not lowering interest rates, by not increasing

30770-427: Was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by

30951-446: Was intended. It exacerbated the Great Depression by preventing economic recovery after domestic production recovered, hampering the volume of trade; still there is disagreement as to the precise extent of the Act's influence. In the popular view, the Smoot–Hawley Tariff was one of the leading causes of the depression. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened

31132-485: Was just ending, and many of its exhibits could be transported for use in another fair. That exposition had paid for itself, and he was sure a San Diego exposition could do so as well. He promoted the idea of a new exposition, using the existing buildings and adding new ones, as a way of boosting San Diego's economy. He convinced local business people to support the idea. The Exposition incorporated in August 1934. Construction of new buildings began in January 1935. The project

31313-404: Was made to settle the country or establish possession. The coast of Australia had been discovered for Europeans by the Dutch in 1606 , but there was no attempt to colonise it. In 1770, after leaving New Zealand, James Cook charted the eastern coast, claimed the continent for Britain, and named it New South Wales . In 1778, Joseph Banks , Cook's botanist on the voyage, presented evidence to

31494-429: Was not divulged to the Sharif of Mecca , who the British had been encouraging to launch an Arab revolt against their Ottoman rulers, giving the impression that Britain was supporting the creation of an independent Arab state. The British declaration of war on Germany and its allies committed the colonies and Dominions, which provided invaluable military, financial and material support. Over 2.5 million men served in

31675-489: Was rushed through for a May opening. The foundations of some structures, such as the Electric Building and the Ford Building , were laid even before the final plans for the buildings had been drawn up. During March and April, 2,700 people worked around the clock on the Exposition. Approximately 65% of them were relief workers whose wages were paid by the federal government; the remainder were employees of private contractors. The Hollywood Motion Picture Hall of Fame exhibit, at

31856-429: Was so popular that some buildings were rebuilt to be made more permanent. Many buildings or reconstructed versions remain in use today, and are used by several museums and theatres in Balboa Park. In the early 1960s destruction of a few of the buildings and their replacement by aesthetically clashing modern architecture style of the new buildings "created an uproar" in San Diego's community. A 'Committee of One Hundred'

32037-427: Was supported by the British prime minister , William Gladstone , who hoped that Ireland might follow in Canada's footsteps as a Dominion within the empire, but his 1886 Home Rule bill was defeated in Parliament. Although the bill, if passed, would have granted Ireland less autonomy within the UK than the Canadian provinces had within their own federation, many MPs feared that a partially independent Ireland might pose

32218-585: Was the first to use the term "British Empire") were beginning to press for the establishment of England's own empire. By this time, Spain had become the dominant power in the Americas and was exploring the Pacific Ocean, Portugal had established trading posts and forts from the coasts of Africa and Brazil to China , and France had begun to settle the Saint Lawrence River area, later to become New France . Although England tended to trail behind Portugal, Spain, and France in establishing overseas colonies, it carried out its first modern colonisation, referred to as

32399-481: Was the only global war fought between Britain and another imperial power during the Pax Britannica and was a resounding defeat for Russia. The situation remained unresolved in Central Asia for two more decades, with Britain annexing Baluchistan in 1876 and Russia annexing Kirghizia , Kazakhstan , and Turkmenistan . For a while, it appeared that another war would be inevitable, but the two countries reached an agreement on their respective spheres of influence in

32580-411: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that

32761-401: Was underpinned by the steamship and the telegraph , new technologies invented in the second half of the 19th century, allowing it to control and defend the empire. By 1902, the British Empire was linked together by a network of telegraph cables, called the All Red Line . The East India Company drove the expansion of the British Empire in Asia. The company's army had first joined forces with

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