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103-402: Bertrand Library is the library of Bucknell University . Built in 1951, it stands at the eastern end of Malesardi Quadrangle . The library, which occupies five floors, is named for Ellen Clarke Bertrand, who contributed $ 800,000 and a library endowment fund to the university. The building's cornerstone was laid on February 24, 1951, just under a year after ground was broken on the project. It

206-782: A PhD in engineering, Bucknell was ranked 7th, according to the 2024 edition of the U.S. News & World Report college ranking. The same report ranked Computer Engineering 5th, Civil Engineering 3rd, Electrical Engineering 4th, and Mechanical Engineering 3rd. Students can choose from five tracks leading to the Bachelor of Science in Business Administration degree: managing for sustainability, markets innovation and design, global management, accounting and financial management, or analytics and operations management. A five-year, dual degree in Engineering and Management

309-634: 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,

412-418: 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

515-636: A College and also a Theological Institution." The group's efforts for the institution began to crystallize in 1845, when Stephen William Taylor, a professor at Madison University (now Colgate University ) in Hamilton, New York , was asked to prepare a charter and act as general agent for the development of the university. The charter for the University at Lewisburg, granted by the Pennsylvania General Assembly and approved by

618-467: A cohesive architectural ensemble due to the sustained use of brick and the recurrent themes of Georgian style. The institution's first building, Taylor Hall, was constructed in 1848. The oldest residential hall on the campus is Daniel C. Roberts Hall (originally known as Old Main in 1858). Its newest building, Holmes Hall, was inaugurated in 2021. Rooke Chapel is the non-denominational setting for campus worship, weddings, and celebrations. The chapel

721-604: 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

824-467: 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

927-600: 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

1030-402: 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

1133-605: A new Biology Building in 1991. The Weis Music Building was inaugurated in 2000, the O'Leary Building for Psychology and Geology opened in the fall of 2002, the new Kenneth Langone Recreational Athletic Center opened in 2003 and the Breakiron Engineering Building in 2004. Bucknell's 450-acre (180 ha) campus comprises more than 100 buildings located over a gentle rise adjacent to the West Branch Susquehanna River . The campus

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1236-741: A semester-long program in Washington, D.C., to support students with an interest in government public service. In the 2025 edition of U.S. News & World Report, Bucknell tied for 31st in the "National Liberal Arts Colleges" category. The 2024 edition of Forbes rated Bucknell 93rd in its list of "America's Top Colleges" and 22nd among liberal arts colleges. The 2022 edition of the Times Higher Education U.S. College Rankings placed Bucknell 27th among U.S. liberal arts colleges. In 2024, Washington Monthly , which ranks colleges and universities based on perceived contribution to

1339-687: A sense of community among humanities faculty and students through the Humanities Council and Humanities Student Council, as well as space to gather, study, and research including offices for student thesis writers, a digital humanities lab, and a faculty-donated library. It also coordinates programming ranging from the student-organized Humanities Week to guest speakers and faculty colloquia as part of its annual themed programming. Recent themes include "Non/Humanity" (2021–22), "Pandemics" (2022–23), and "Colonial entanglements" (2023–24). The Geisinger-Bucknell Autism and Developmental Medicine Institute

1442-567: 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

1545-480: 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

1648-713: 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

1751-658: 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

1854-756: Is a member of the Patriot League in NCAA Division I athletics. Its nickname is the Bucknell Bison , while its mascot is Bucky the Bison. Founded in 1846 as the University at Lewisburg, Bucknell traces its origin to a group of Baptists from White Deer Valley Baptist Church who deemed it "desirable that a Literary Institution should be established in Central Pennsylvania, embracing a High School for male pupils, another for females,

1957-487: Is available for engineers with management career goals. In 2022, after four years as an independent college, The Freeman College of Management was ranked 17th among undergraduate business schools. The Bucknell Humanities Center opened in 2017 with the inauguration of Hildreth-Mirza Hall. The center is committed to the promoting and deepening Bucknell's tradition of humanistic inquiry through grants and fellowships to support faculty and student research, innovative pedagogy, and

2060-610: Is divided into Lower Campus and Upper Campus by Miller Run and the Grove, a stand of oak trees that ascends the slope. Lower Campus consists primarily of student housing and the institution's sports facilities. Upper Campus mainly contains academic buildings. It offers views northwest across the Buffalo Valley toward Mount Nittany and southeast across the Susquehanna River toward Montour Ridge. Bucknell's campus forms

2163-493: 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

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2266-674: Is the Ellen Clarke Bertrand Library , commissioned in 1946 under Bucknell President and former Governor of Maine Horace Hildreth and opened in 1951. Other major additions from the building spree of the 1950s and 60s include the Olin Science Building and Coleman, Marts and Swartz Halls. A growing reputation and changing expectations for undergraduate education in the United States called for improved facilities. The 1970s brought construction of

2369-446: Is the current mascot of Bucknell University. In 1923, Dr. William Bartol suggested the animal due to Bucknell's location in the Buffalo Valley. The school cheer is "'ray Bucknell!" Bucknell has over 150 student organizations , a historical downtown cinema ( Campus Theatre ), a makerspace and crafts studio (7th Street Studio) and a calendar full of visiting speakers, art exhibits, performances, recitals, and year-end celebrations such as

2472-539: 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

2575-582: 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

2678-539: 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,

2781-570: The "Chrysalis" ball and dinners sponsored by international student organizations. Bucknell's student newspaper, The Bucknellian , is printed weekly. Its headquarters are in Stuck House on South 7th Street on the campus. The college radio station is WVBU-FM . Spratt House is the home of the institution's Army Reserve Officer Training Corps (ROTC) program. As of 2024 , Bucknell University has seven active fraternity chapters and nine active sorority chapters: The Alpha Phi chapter of

2884-447: 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

2987-813: 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

3090-956: The Center for the Study of Race Ethnicity and Gender, the China Institute, the Griot Institute for the Study of Black Lives and Cultures, the Stadler Center for Poetry and Literary Arts, and the Weis Center for the Performing Arts. Almost half of all Bucknell students study abroad through a large number of exchanges with partner institutions, as well as Bucknell operated sites in Accra , Athens , Granada , London , Singapore , Sydney , and Tours . Bucknell also runs

3193-668: The Class of 2028 (enrolled Fall 2024), Bucknell received 11,377 applications and accepted 3,291 (28.9%), with 994 enrolling (30.2% yield rate). The middle 50% range of SAT scores for the enrolled freshmen was 640–740 for reading and writing, and 670–760 for math, while the ACT middle 50% composite range was 31–34. Beginning in 2022, Bucknell like most of its peer institutions is now test optional, meaning applicants can choose whether or not to submit SAT and ACT scores when applying. The average high school grade point average (GPA) for enrolled freshmen

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3296-577: The Depression brought a drop in enrollment in 1933, several members of the faculty were "loaned" to found a new institution: Bucknell Junior College in Wilkes-Barre, Pennsylvania . Today, that institution is a four-year university, Wilkes University , independent of Bucknell since 1947. The depression era also saw the commissioning by President Homer Rainey (1931–35) of architect Jens Larson to design Bucknell's master plan. Subsequent expansion of

3399-471: 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

3502-521: 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

3605-716: The Elaine Langone Center, the Gerhard Fieldhouse and the Computer Center. In the 1980s, the capacity of Bertrand Library was doubled, facilities for engineering were substantially renovated, and the Weis Center for the Performing Arts was inaugurated. Heading into the 21st century, new facilities for the sciences included the renovation of the Olin Science Building, the construction of the Rooke Chemistry Building in 1990 and

3708-489: 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

3811-542: The Female Institute began instruction in 1852, it wasn't until 1883 that college courses were opened to women . Bucknell, though, was committed to equal educational opportunities for women. This commitment was reflected in the words of David Jayne Hill of the Class of 1874, and president of the college from 1879 to 1888: "We need in Pennsylvania, in the geographical centre of the state, a University, not in

3914-682: The German but in the American sense, where every branch of non-professional knowledge can be pursued, regardless of distinction of sex. I have no well-matured plan to announce as to the sexes; but the Principal of the Female Seminary proposes to inaugurate a course for females equal to that pursued at Vassar ; the two sexes having equal advantages, though not reciting together." Within five years of opening, enrollment had grown so sharply that

4017-442: 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

4120-642: 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

4223-1271: The Kappa Sigma fraternity was put on probation for disciplinary reasons and then closed in 2017. Five fraternities are no longer recognized by the school: Delta Upsilon, Kappa Delta Rho, Kappa Sigma, Pi Beta Phi Women's, and Tau Kappa Epsilon. Alumni of Bucknell University include: Burma 's first physician Shaw Loo (class of 1863), National Baseball Hall of Fame pitcher Christy Mathewson (1902), Pro Football Hall of Fame Fullback/Linebacker Clarke Hinkle (1932), actor Ralph Waite (1952), novelist Philip Roth (1954), investor and philanthropist Ken Langone (1957), actor Edward Herrmann (1965), literary theorist and translator Peggy Kamuf (1969), CBS media executive Leslie Moonves (1971), author and pastor of Redeemer Presbyterian in New York City Tim Keller (1972), 2016 Pulitzer Prize winner for poetry, Peter Balakian (1973), New Jersey congressman Rob Andrews (1979), CEO of Lord & Taylor and The Children's Place , Jane T. Elfers (1983), entrepreneur Jessica Jackley (2000), and basketball player Mike Muscala (2013). The Depression The Great Depression

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4326-481: 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

4429-491: 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

4532-490: 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

4635-622: 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

4738-543: 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

4841-638: The Wall Street crash, after which the slide continued for three years, which 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

4944-635: The addition for the Freeman College of Management in 2017, Bucknell offers a balance of foundational liberal-arts study and pre-professional training, a statistic reflected in the 25% of students who choose to double major. In 2021, the largest majors were Accounting and Finance (79 graduates), Political Science and Government (76 graduates), and Economics (67 graduates). For the years between 2015 and 2021, 18% of students reported pursuing post-graduate study within nine months of graduating. The College of Arts and Sciences anchors Bucknell University in

5047-460: 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

5150-573: 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 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

5253-465: 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

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5356-491: The class of 2028 was 3.62. Bucknell is a member of the Patriot League for Division I sports ( Division I FCS in football). In 2005 , the men's basketball team went to the NCAA men's basketball tournament and became the first Patriot League team to win an NCAA tournament game, upsetting Kansas 64–63. The victory followed a year that included wins over #7 Pittsburgh and Saint Joseph's . They lost to Wisconsin in

5459-462: 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

5562-400: The college built a new hall–Larison Hall–to accommodate the Female Institute. In 1881, facing dire financial circumstances, the college turned to William Bucknell , a charter member of the board of trustees , for help. His donation of $ 50,000 ($ 1,580,000 today) saved the college from ruin. In 1886, in recognition of Bucknell's support of the college, the trustees voted unanimously to change

5665-475: 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

5768-569: 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

5871-633: 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

5974-408: 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

6077-435: 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

6180-402: 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

6283-427: 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

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6386-576: 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

6489-500: 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

6592-535: The farm reflects Bucknell's commitment to achieving carbon neutrality by 2030 and long-term environmental sustainability. Bucknell Greenhouse is located on the fourth floor of the Biology Building. In 2023, the Century Plant ( Agave americana ) bloomed for the first time in thirty years. The greenhouse contains three ecosystems: a desert, wetlands, and tropical and temperate forests. In 2023,

6695-503: 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

6798-505: 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

6901-436: The following round but received the honor of "Best Upset" at the 2005 ESPY Awards . On April 17, 1849, the trustees approved the current Bucknell seal. The seal shows the sun, an open book and waves. The sun symbolizes the light of knowledge, while the book represents education surmounting the storms and "waves" of life. Bucknell's colors are blue and orange, having been approved by a committee of students in 1887. The bison

7004-606: 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

7107-715: The governor on February 5, 1846, carried one stipulation–that $ 100,000 ($ 3,400,000 today) be raised before the new institution would be granted full corporate status . In 1846, the "school preparatory to the University" opened in the basement of the First Baptist Church in Lewisburg. Known originally as the Lewisburg High School, it became in 1848 the Academic and Primary Department of the University at Lewisburg. The school's first commencement

7210-519: 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,

7313-527: 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

7416-563: 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

7519-478: The liberal-arts tradition. Its three divisions—arts and humanities, social sciences, and natural sciences and mathematics—host 275 faculty members in 34 departments and 66% percent of all students enrolled in fifty majors. The college emphasizes intellectual community in diversity, transformative education for the common good, mentorship that encourages students to lead examined lives and leading-edge research and scholarship. Among American colleges that do not offer

7622-521: 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 ,

7725-414: 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

7828-423: 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

7931-502: 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

8034-427: 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

8137-422: The name of the University at Lewisburg to Bucknell University. Bucknell Hall, the first of several buildings given to the institution by Bucknell, was initially a chapel and for more than a half century the site of student theatrical and musical performances. Today, it houses the Stadler Center for Poetry. The 40 years from 1890 until 1930 saw a steady increase in the number of faculty members and students. When

8240-582: 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

8343-483: 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

8446-480: 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

8549-459: 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

8652-600: The public good as measured by social mobility, research, and promoting public service, ranked Bucknell 60th among liberal arts colleges. In 2024, the Payscale "College Salary Report" ranked Bucknell 40th among all colleges and universities and 10th among liberal arts colleges for salary potential. Bucknell is considered one of the " Hidden Ivies ", an institution reputed to provide an education comparable to that of Ivy League institutions. U.S. News & World Report classifies Bucknell's selectivity as "more selective". For

8755-434: 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

8858-558: The school began the first part of the Bucknell Greenway , what will be a 4-mile (6.4 km) educational recreation path around campus, while also connecting to the athletic fields across U.S. Route 15 . Bucknell has a total enrollment of around 3,950 undergraduate and thirty graduate students. With around 400 faculty, the faculty to student ratio is 9:1, with the average class size of approximately twenty students. Bucknell has traditionally had strong engineering programs. With

8961-411: The university still largely adheres to this plan. The post-War period saw a dramatic increase in higher education enrollment across the United States, thanks first to the G.I. Bill and then to the baby boom . Like other institutions, Bucknell's campus grew to accommodate a growing student body, and the college broke ground on many of the academic buildings that comprise upper campus. Chief among these

9064-476: 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

9167-673: 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

9270-778: 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

9373-431: Was a gift of Robert Levi Rooke (class of 1913), a member of the board of trustees. The chapel is named in memory of Rooke's parents and was inaugurated on October 25, 1964. Christy Mathewson–Memorial Stadium is a 13,100-seat multi-purpose stadium built in 1924 and renovated in 1989, when it was also renamed in honor of Christy Mathewson (class of 1902), a New York Giants Hall of Fame pitcher. The Bucknell Farm

9476-658: 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

9579-505: 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 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

9682-478: 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

9785-474: 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

9888-539: Was established in 2018, building on the success of the Lewisburg Community Garden, a partnership between Bucknell University and the Borough of Lewisburg. The 5-acre (2.0 ha) organic farm overlooking Montour Ridge offers learning and service opportunities for students and provides fresh, local produce for the institution's dining system. Along with a 1.76-megawatt solar array installed in 2022,

9991-513: Was formally opened on September 26, 1951. On Christmas Eve 1960, a fire damaged the library's roof and clock tower; no books were lost, however, and water damage was minimal. Repairs were completed in 1961. The library is a member of the Federal Depository Library Program . Bucknell University Approximately 3,700 undergraduate students and 50 graduate students attend the university. The school

10094-550: Was formed in April 2013 as a partnership between Bucknell and the Geisinger Health System , headquartered in nearby Danville . This facility combines clinical treatment and interdisciplinary research on neurodevelopmental disorders. Other centers and institutes include: the Bucknell Institute for Lifelong Learning, the Bucknell Institute for Public Policy, the Center for Social Science Research,

10197-426: 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

10300-422: Was held on August 20, 1851, for a graduation class of seven men. Among the board members attending was James Buchanan , who would become the 15th President of the United States. Stephen Taylor officiated as his last act before assuming office as president of Madison University. One day earlier, the trustees had elected Howard Malcom as the first president of the university, a post he held for six years. Although

10403-500: 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

10506-446: 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

10609-470: 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

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