139-616: The Harmonie Club is a private social club in New York City . Founded in 1852, the club is the second oldest social club in New York. It is located at 4 East 60th Street, in a building designed by Stanford White . Originally named the Gesellschaft Harmonie, the club was founded on October 16, 1852 by N. Gutman, M. Werner, H. Beer, Herman Cohn, Charles Werner, and Sigmund Werner. Although prominent German Jews ,
278-634: 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,
417-418: 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
556-548: A building designed by renowned Beaux Arts architect, Stanford White of McKim, Meade & White . Lighting for the building was provided by Edward F. Caldwell & Co. Later alterations, inside and out, were designed by Benjamin Wistar Morris . A banquet to celebrate the opening was attended by over four hundred members. In 1914, to meet the changing interests of its members, the Harmonie Club purchased
695-545: A club required member approval and payment. Thus, a club was dependent on class and vice versa. Historian Robert Morris proposed that clubs were "part of the power nexus of capitalism , and essential to the continuity of elite dominance of society." Several private members' clubs for women were established in the late 19th century; among them the Alexandra Club , and the self-consciously progressive Pioneer Club . Women also set about establishing their own clubs in
834-485: A clubhouse of 22 stories and a worldwide membership of over 11,000, is the largest traditional gentlemen's club in the world. Membership in the Yale Club is restricted to alumni, faculty, and full-time graduate students of Yale University, and the club has included women among its members since 1969. While class requirements relaxed gradually throughout the 19th and 20th centuries and, from the 1970s onwards; "relics of
973-611: A contemporary private members' club with the business facilities of an office. It was for this reason that the Institute of Directors acquired one of the older clubhouses in Pall Mall as more business-friendly. Clubs in Ireland include two prominent Dublin social clubs, each having both male and female members, a range of facilities and events, and a wide network of reciprocal clubs: The Kildare Street and University Club (formed on
1112-438: A convenient retreat for men who wished to get away from female relations, "in keeping with the separate spheres ideology according to which the man dealt with the public world, whereas women's domain was the home." Many men spent much of their lives at their club, and it was common for young, newly graduated men who had moved to London for the first time to live at their club for two or three years before they could afford to rent
1251-399: A family environment. A gentleman's club offered an escape. Men's clubs were also a place for gossip. The clubs were designed for communication and the sharing of information. By gossiping, bonds were created which were used to confirm social and gender boundaries. Gossiping helped confirm a man's identity, both in his community and within society at large. It was often used as a tool to climb
1390-604: 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
1529-467: 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
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#17327798160271668-480: A house or flat. Gentleman's clubs were private places that were designed to allow men to relax and create friendships with other men. In the 19th and 20th centuries, clubs were regarded as a central part of elite men's lives. They provided everything a regular home would have. Clubs were created and designed for a man's domestic needs. They were places to relieve stress and worries. They provided for emotional and practical needs. They provided spaces such as dining halls,
1807-569: A large scale renovation of the building on Sixtieth Street under the expertise of architect Benjamin Morris in the late 1930s. The new facilities along with a series of changes in the club's bylaws were designed to modernize the organization and attracted a large number of new and young members. With its origins as a Jewish club, for several years it served as the meeting location for the American Jewish Committee , especially in
1946-464: A library, entertainment and game rooms, bedrooms, bathrooms and washrooms, and a study. In many ways, they resembled a home. Clubs had separate entrances for tradesmen and servants, which were usually located on the side of the building that was not easily seen by the public eye. Many clubs had waiting lists, some as long as sixteen years. There is no standard definition for what is considered a gentlemen's club. Each club differed slightly from others. In
2085-598: A meal, and in some clubs stay overnight. Expatriates, when staying in England, could use their clubs, as with the East India Club or the Oriental Club , as a base. They allowed upper- and upper-middle-class men with modest incomes to spend their time in grand surroundings. The richer clubs were built by the same architects as the finest country houses of the time and had similar types of interiors. They were
2224-600: 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
2363-402: 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
2502-580: A perceived lack of diversity caused member Michael Bloomberg to resign in 2001, in anticipation of his initial mayoral run. As a New York cultural institution, the Harmonie Club has been host to numerous political and cultural luminaries in recent years, including a visit and address from former U.S. President Bill Clinton in 2007, presentations or panel discussions with Senators Hillary Clinton , Chuck Schumer , Representative Charles Rangel , every New York mayor and governor since Mayor Robert F. Wagner Jr. , and Governor Herbert H. Lehman . In October 2018
2641-567: 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
2780-480: 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
2919-657: 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
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#17327798160273058-658: 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
3197-543: Is replaced by an aristocracy of ballot. Frederick Lewis Allen showed how this process operated in the case of the nine "Lords of Creation" who were listed in the New York Social Register as of 1905: 'The nine men who were listed [in the Social Register] were recorded as belonging to 9.4 clubs apiece,' wrote Allen. 'Though only two of them, J. P. Morgan and Cornelius Vanderbilt III , belonged to
3336-493: 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
3475-590: Is the oldest extant fox hunting club in North America. The Golden Square Mile is home to several of Montreal's clubs, including Club Saint-James, which was founded in 1857. At the end of the nineteenth century, twenty of its most influential members felt that the St James was becoming 'too overcrowded' and founded the smaller Mount Royal Club in 1899. Overnight it became the city's most prestigious club, and in 1918, Lord Birkenhead commented that it "is one of
3614-539: 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
3753-479: The Brooklyn Academy of Music and Coram Library at Bates College . The growth of the club was supported through dues and the creation of a nomination process to accept new members. To govern the organization, the club held monthly meetings run by elected officers. During the first ten years of existence the group held balls, lectures, and other social events throughout New York City. The tenth anniversary
3892-700: The Knickerbocker Club , in 1933 the grandsons of six of them did. The following progress is characteristic: John D. Rockefeller, Union League Club; John D. Rockefeller, Jr., University Club ; John D. Rockefeller 3rd, Knickerbocker Club . Thus is the American aristocracy recruited.' The oldest existing American clubs date to the 18th century; the five oldest are the South River Club in Annapolis, Maryland (founded c. 1690/1700 ),
4031-544: The Knickerbocker Club , the citadel of Patrician families (indeed, both already belonged to old prominent families at the time), Stillman and Harriman joined these two in the membership of the almost equally fashionable Union Club ; Baker joined these four in the membership of the Metropolitan Club of New York (Magnificent, but easier of access to new wealth); John D. Rockefeller, William Rockefeller, and Rogers, along with Morgan and Baker were listed as members of
4170-1261: The Mississippi River are The Pacific Club in Honolulu (1851); the Pacific-Union Club (1852), Olympic Club (1860), and the Concordia-Argonaut Club (founded 1864), all in San Francisco; and the Arlington Club in Portland, Oregon (1867). Today, gentlemen's clubs in the United States remain more prevalent in older cities, especially those on the East Coast . Only twelve American cities have five or more existing clubs: Atlanta, Boston, Chicago, Cincinnati, Denver, Detroit, Los Angeles, New Orleans, New York City, Philadelphia, San Francisco, Seattle, and Washington, D.C. New York City contains more than any other American city. The Yale Club of New York City , comprising
4309-564: The Nazi salute . George Deatherage and George Moseley both testified in the hearing; they offered little evidence of the Harmonie Club members' alleged plot, and demonstrated thoroughly antisemitic beliefs. The committee took a leading role in resettling refugees from the Nazis and in ensuring their contribution to the Allied war effort. Albert Einstein and other prominent Anti-Nazi figures of
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4448-582: 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
4587-611: The Royal Thames Yacht Club and the Royal Ocean Racing Club ) have a specific character that places them outside the mainstream, while other clubs have sacrificed their individuality for the commercial purpose of attracting enough members, regardless of their common interests. (See article at club for a further discussion of these distinctions.) The oldest gentleman's club in London is White's, which
4726-851: The Schuylkill Fishing Company in Andalusia, Pennsylvania (1732), the Old Colony Club in Plymouth, Massachusetts (1769), the Philadelphia Club (1834), and the Union Club of the City of New York (founded 1836). The Boston Club of New Orleans, named after Boston (card game) and not the city, is the oldest southern club, and third oldest "city club", founded in 1841. The five oldest existing clubs west of
4865-583: The Union League Club (the stronghold of Republican respectability); seven of the group belonged to the New York Yacht Club . Morgan belonged to nineteen clubs in all; Vanderbilt, to fifteen; Harriman, to fourteen.' Allen then goes on to show how the descendants of these financial giants were assimilated into the upper class : 'By way of footnote, it may be added that although in that year [1905] only two of our ten financiers belonged to
5004-480: The West End of London . Today, the area of St James's is still sometimes called "clubland". Clubs took over some parts of the role occupied by coffee houses in 18th-century London . The first clubs, such as White's , Brooks's , and Boodle's , were aristocratic in flavour, and provided an environment for gambling, which was illegal outside of members-only establishments. The 19th century brought an explosion in
5143-539: 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,
5282-447: 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
5421-773: The 19th century, the family was considered one of the most important aspects of a man's life. A man's home was his property and should have been a place to satisfy most of his needs, but for elite men, this was not always the case; it was not always a place that provided privacy and comfort: perhaps because the homes of elite families often entertained guests for dinners, formal teas, entertainment, and parties. Their lives were on display, and often their lives would be reported in local papers. A gentleman's club offered an escape from this family world. Another explanation would be that men were brought up as boys in all-male environments in places like schools and sports pastimes, and they became uncomfortable when they had to share their lives with women in
5560-590: The 21st Century https://www.nytimes.com/2018/10/25/style/harmonie-club-new-york.html Gentlemen%27s club A gentlemen's club is a private social club of a type originally set up by men from Britain's upper classes in the 18th and succeeding centuries. Many countries outside Britain have prominent gentlemen's clubs, mostly those associated with the British Empire : in particular, Australia , India , Ireland , Pakistan , and Bangladesh . There are also many clubs in major American cities, especially
5699-504: The 21st century, numerous new private women's clubs had formed in support of previously male-dominated pursuits, including professional affiliations and business networking . In 2023, The Daily Telegraph reports that an "[A]bsolutely chilling" discordance around admitting women to men-only clubs persisted in the UK, as the SFGate also reports in the U.S. Membership is by election after
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5838-1015: The Brisbane Club, United Services Club and the Tattersalls Club (unrelated to the identically named club in Sydney). Adelaide has the Adelaide Club and the Naval, Military and Air Force Club of South Australia. Perth has the Western Australian Club and the Weld Club . Hobart has the Tasmanian Club and the Athenaeum Club. The Launceston Club is located in the northern city of Launceston Great Depression The Great Depression
5977-813: 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
6116-1025: The Commonwealth Club, the Kelvin Club, the Newcastle Club, the Royal Automobile Club, the Tattersalls Club in Sydney and the Union, University and Schools Club allow women to enjoy full membership. Sydney has the Australian Club , the Royal Automobile Club of Australia , the Tattersalls Club and the Union, University & Schools Club . The City Tattersalls Club , which named itself after
6255-530: 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
6394-521: 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
6533-823: The Faculty Club associated with the University of Toronto , the Arts and Letters Club , and a number of other clubs. Other Ontario cities have their clubs: the Rideau Club at Ottawa; the Hamilton Club; the Frontenac Club at Kingston , and The Waterloo Club by letters patent. The Halifax Club was founded in 1862. The Union Club (Saint John) in Saint John, New Brunswick was founded in 1884 through
6672-419: 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
6811-442: 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
6950-527: 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
7089-517: The Harmonie Club of NYC named Davina Weinstein the first female general manager in the 166 year history of the club. Ms. Weinstein is also one of the first female general managers in New York City club history overall. H. Horatio Joyce, "Disharmony in the Clubhouse: Exclusion, Identity, and the Making of McKim, Mead & White's Harmonie Club of New York City." Journal of the Society of Architectural Historians 1 December 2019; 78 (4): 422–441. doi : 10.1525/jsah.2019.78.4.422 The Harmonie Club Joins
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#17327798160277228-424: The Harmonie Club to host in-house events, and for the next forty years the club regularly scheduled events such as dances, lectures, concerts, theatrical performances, billiards, cards, and bowling. In 1891, the Admission Committee was created, removing the task of approving and voting on new members from the general monthly meetings. The turn of the century brought several changes to the club. These changes included
7367-414: 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
7506-425: The North Shore Country Club on Long Island. According to an April 1914 President's Report: "The trend of time is toward the country club and healthy outdoor activity. With the increasing tendency to spread the weekends in suburban surrounding, with the increased use of the automobile, and with the increased desire for outdoor exercise, especially on the part of the younger generation." After several years of renovation
7645-417: The Tattersalls Club, no longer has exclusive membership criteria. Newcastle has the Newcastle Club. Melbourne has the Melbourne Club , the Alexandra Club, the Athenaeum Club (named after its counterpart in London), the Australian Club (unrelated to the identically named club in Sydney), the Kelvin Club and the Savage Club . Geelong has The Geelong Club . Brisbane has the Queensland Club ,
7784-491: 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
7923-435: 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
8062-631: The United States have at least one traditional gentlemen's club, many of which have reciprocal relationships with older clubs in London, with each other, and with other gentlemen's clubs around the world. In American English , the term "gentlemen's club" is commonly used euphemistically by strip clubs . As a result, traditional gentlemen's clubs often are called "men's clubs" or "city clubs" (as opposed to country clubs ) or simply as "private social clubs" or "private clubs". Christopher Doob explains in his book Social Inequality and Social Stratification in U.S. Society : The most exclusive social clubs are in
8201-622: 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
8340-543: 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
8479-578: 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
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#17327798160278618-445: The admissions committee's standards for values and behavior. Old money prevails over new money as the Rockefeller family experience suggests. John D. Rockefeller , the family founder and the nation's first billionaire, joined the Union League Club , a fairly respectable but not top-level club; John D. Rockefeller, Jr. , belonged to the University Club , a step up from his father; and finally his son John D. Rockefeller, III , reached
8757-420: The advent of mobile working (using phone and email) has placed pressures on the traditional London clubs which frown on, and often ban, the use of mobiles and discourage laptops, indeed any discussion of business matters or 'work related papers'. A new breed of business-oriented private members' clubs, exemplified by One Alfred Place and Eight in London or the Gild in Barcelona, combines the style, food and drink of
8896-416: The age of exclusion" reported SFGate in the United States in 2004 "seem to be in no danger of going the way of other 19th century institutions." At Montreal, the Beaver Club was founded in 1785. Every year, some of its members travelled back to England to sell their furs, where they established the Canada Club in 1810; it still meets twice yearly as a dining club. The Montreal Hunt Club, founded in 1826,
9035-432: The aristocracy and politicians were likely to have several clubs. The record number of memberships is believed to have been held by Earl Mountbatten , who had nineteen in the 1960s. Public entertainments, such as musical performances and the like, were not a feature of this sort of club. The clubs were, in effect, "second homes" in the centre of London where men could relax, mix with their friends, play parlour games , get
9174-405: 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
9313-573: 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
9452-465: 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
9591-538: The best clubs I know in the New World, with the indefinable atmosphere about it of a good London club". In 1908 the University Club (McGill University), affiliated with McGill , opened. The Forest and Stream was formed by Frank Stephen and some of his gentlemen friends and associates on 27 November 1884 at a meeting held at the St. Lawrence Hall in Montreal. The club's original founders were Andrew Allan, James Bryce Allan, Hugh Montagu Allan, Louis Joseph Forget, Hartland St. Claire MacDougall, Hugh Paton, and Frank Stephen. It
9730-405: The burgeoning club was regularly moved as the membership outgrew each rented space. After this nomadic period, the club purchased land at 45 West Forty-Second Street to erect a permanent location and raised enough funds to have architect Henry Fernbach design the building. Later, this building was refurbished and had an annex added, both of which were designed by Herts and Tallant , architects of
9869-445: The club a private space and attempted to control the spread of information from the outside. Under no circumstance was the club to be depressing or too involved in the pains of reality. Whether from "the streets, the courts, Parliament , or the Stock Exchange ," the chaotic nature of work life was put on hold. Young bachelors and other members were in many ways shielded from the true problems of society, especially female ones. While it
10008-480: The club could be represented as " homosocial domesticity". Similar to male coffeehouses of the Ottoman Empire , the clubs were a home away from home. They were alternative, competing spaces in the sense that it had some similarities with the traditional home. One of the key attractions of these clubs was their private, often exclusive, nature. They were getaways from the tight, restrictive role expected from
10147-424: The club, only the wealth and importance of the club and its amenities was displayed instead of their possibly inferior possessions or structures at home. In English clubs, this domesticity was particularly emphasized. These clubs, primarily in London, were usually very "quiet" and their members were well-behaved: again pointing to the calm familiarity of the household. In addition, club staff were tasked with keeping
10286-462: 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
10425-413: The connection between the members was membership in the same branch of the armed forces, or the same school or university. Thus the growth of clubs gives some indication of what was considered a respectable part of the "Establishment" at the time. By the late 19th century, any man with a credible claim to the status of "gentleman" was eventually able to find a club willing to admit him, unless his character
10564-528: The country club opened for Harmonie Club members only. This arrangement was designed to both serve and increase interest in the parent organization. Over the years, the North Shore Country Club has hosted several tournaments. Although no longer affiliated with the club, North Shore still operates today as a private course. The growth of the Harmonie Club was slowed by the outbreak of World War I and related anti-German sentiment, as well as,
10703-475: 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
10842-569: 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
10981-518: The day sponsored events at the club to raise awareness of the Nazis' persecution of the Jews. The growth of the Club was halted in 1941 with the American entry into World War II. The club continued to operate throughout the war and resumed its philanthropic programs from World War I, such as hosting functions for enlisted men. Following the war, the Club's membership returned to pre-Depression numbers. Over
11120-633: 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
11259-408: 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
11398-435: 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
11537-402: 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
11676-427: 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
11815-576: 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
11954-500: 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
12093-503: 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
12232-523: The first events for non-married members, a declining interest in large social gatherings such as dances, and increasing property taxes along Forty-Second Street. In response to these pressures, a decision was made to relocate to a more suitable building. The club solicited donations from its members to build a new clubhouse on property acquired on the Upper East Side . In December 1905, the club moved into new premises at Four East 60th Street, in
12371-452: 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
12510-606: 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
12649-454: The group was reportedly denied admission to the Union Club , which had a tacit policy of discrimination . The Harmonie Club's original charter stated that it was created to provide "mutually beneficial entertainment, occasional singing entertainments, lectures, etc" for recent German immigrants. The first meeting of the club was held November 8, 1852 in a rented room on Broome Street with thirty-nine members in attendance. Between 1852 and 1867,
12788-429: The guest flow could be more easily controlled than at the home. Members' social status was marked by the prestige of the club, but within it, the lines were blurred. Prominent guests could be invited to dinner or to lounge at the club over the house. Staff would monitor these guests and their arrival for the members and, as employees of the members, could personally tailor the experience. Thus, by holding important events at
12927-519: 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,
13066-527: 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
13205-563: 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
13344-539: The late 19th century, such as the Ladies' Institute, and the Ladies' Athenaeum. They proved quite popular at the time, but only one London-based club, The University Women's Club , has survived to this day as a single-sex establishment. Traditionally barred from full membership in existing clubs of similar interest, and somewhat mobilized by the passage of the Civil Rights Act of 1964 in the United States; by
13483-521: 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 ,
13622-963: The merger of Kildare Street Club ( traditionally Conservative ) with The Dublin University Club ( academic )) and The St Stephen's Green Hibernian Club (similarly formed when the St Stephen's Green Club ( Whig ) merged with The Hibernian United Services Club ( military )). A number of other, specialist clubs flourish in Dublin such as The Royal Irish Automobile Club (R.I.A.C) on Dawson Street, Established in 1901, The United Arts Club, Royal Irish Academy , Royal Dublin Society , Yacht Clubs (The Royal Irish , The National , and The Royal St George ) of Dún Laoghaire, The Hibernian Catch Club ( catch music ), and The Friendly Brothers of St Patrick ( originally anti-duelling ). Most major cities in
13761-548: The merger of two earlier clubs, and the Fredericton Garrison Club was founded in 1969 by associate members of the area headquarters officers' mess. The Manitoba Club is Western Canada's oldest club, founded in 1874 at Winnipeg. The Union Club of British Columbia was founded in 1879 in Victoria. The Vancouver Club was founded in 1889. Australia has a number of gentlemen's clubs. Of those listed below,
13900-414: 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
14039-423: 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
14178-502: 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
14317-487: 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
14456-582: 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
14595-525: The network analysis perspective by Maria Zozaya. Today, establishments based on the concept of the traditional gentlemen's clubs exist throughout the world, predominantly in Commonwealth countries and the United States. Many clubs offer reciprocal hospitality to other clubs' members when travelling abroad. There are perhaps some 25 traditional London gentlemen's clubs of particular note, from The Arts Club to White's . A few estimable clubs (such as
14734-659: The older ones. The gentlemen’s club in Moscow (Angliyskoye sobranie, rus. Английское собрание), founded approximately in 1772, was the centre of noble social and political life in the 18th-19th centuries, and largely determined public opinion. A gentleman's club typically contains a formal dining room, a bar, a library, a billiard room , and one or more parlours for reading, gaming, or socializing. Many clubs also contain guest rooms and fitness amenities. Some are associated mainly with sports, and some regularly hold other events such as formal dinners. The original clubs were established in
14873-592: The oldest cities – Boston, New York City, and Philadelphia. Others, which are well respected, have developed in such major cities as Pittsburgh, Chicago, and San Francisco. The most exclusive social clubs are two in New York City – the Links and the Knickerbocker (Allen 1987, 25) Personal wealth has never been the sole basis for attaining membership in exclusive clubs. The individual and family must meet
15012-483: 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
15151-540: The pinnacle with his acceptance into the Knickerbocker Club (Baltzell 1989, 340). E. Digby Baltzell , sociologist of the WASP establishment, explains in his book Philadelphia Gentlemen: The Making of a National Upper Class : The circulation of elites in America and the assimilation of new men of power and influence into the upper class takes place primarily through the medium of urban clubdom. Aristocracy of birth
15290-480: 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
15429-459: 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
15568-557: The popularity of clubs, particularly around the 1880s. At the height of their influence in the late 19th century, London had over 400 such establishments. Club Life in London , an 1866 book, begins: "The Club in the general acceptation of the term, may be regarded as one of the earliest offshoots of man's habitual gregariousness and social inclination." An increasing number of clubs were influenced by their members' interests in politics, literature, sport, art, automobiles, travel, particular countries, or some other pursuit. In other cases,
15707-468: The proposers (at least two and in many clubs more), who have known the candidate for a term of years, formally nominate the person for membership. Election is by a special committee (itself elected), which may interview the candidate and which looks at any support and also objections of other members. Some top clubs still maintain distinctions which are often undefined and rarely explained to those who do not satisfy their membership requirements. After reaching
15846-434: 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
15985-417: The social ladder. It revealed that a man had certain information others did not have. It was also a tool used to demonstrate a man's masculinity. It established certain gender roles. Men told stories and joked. The times and places a man told stories, gossiped, and shared information were also considered to show a man's awareness of behaviour and discretion. Clubs were places where men could gossip freely. Gossip
16124-446: The stoic gentleman. Like the home, men could act and behave in ways not usually acceptable in public society. For men who lived their lives at the club, the home lost its status as their base. Members would use this address for official documentation, mailing, and appointments. Meals, formal or informal, were provided and tastes could be catered for by the club staff. Spaces within the club were designated for these various functions, and
16263-633: The top of a long waiting list, there is a possibility of being blackballed during the process of formal election by the committee. In these circumstances, the principal proposer of such a person may be expected to resign, as he failed to withdraw his undesirable candidate. More often, the member who proposes an unsuitable candidate will be "spoken to" at a much earlier stage than this, by senior committee members, and he will withdraw his candidate to avoid embarrassment for all concerned. The clubs are owned by their members and not by an individual or corporate body. These kinds of relationships have been analyzed from
16402-524: The tumultuous 1930s. In 1939, Dudley Pierrepont Gilbert and James Campbell testified to the Dies Committee that several members of the Harmonie Club were engaged in a plot to instigate a communist revolution that would overthrow the U.S. government. As evidence, they cited a rumor that supposedly traced back to a conversation a Harmonie Club waiter overheard. In private letters, Gilbert had praised fascist leaders. He had also been photographed doing
16541-507: The wartime service of current and potential members. The club supported the United States' campaign through hosting events for enlisted men and their families. In addition, fifty of the club's members served in the war effort. Following the war, the club prospered reaching a record high of eight hundred and fifty members in 1929. This number was cut in half by 1934 with the onset of the Great Depression . The Board of Governors began
16680-476: 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
16819-673: 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
16958-778: 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
17097-401: The years its political role in the community appeared to have moderated, and it became more of a social center, as well as extending its membership to include non-German Jews and others. In 1987, it was the location of the world's 'most charitable' bridge game, which raised $ 62,000. Historically known as a Jewish club, the club has indicated a willingness to broaden its membership. Nonetheless,
17236-658: 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
17375-505: 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
17514-478: 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
17653-456: Was also a tool that led to more practical results in the outside world. There were also rules that governed gossip in the clubs. These rules governed the privacy and secrecy of members. Clubs regulated this form of communication so that it was done in a more acceptable manner. Until the 1950s, clubs were also heavily regulated in the rooms open to non-members. Most clubs contained just one room where members could dine and entertain non-members; it
17792-403: Was celebrated on October 18, 1863 with a banquet and ball attended by over one hundred and fifty members. Two years later the club was incorporated as, "The Harmonie Social Club of the City of New York", with two re-incorporations in 1867 and 1894. The first re-incorporation altered the provisions to allow the club to own property and the building on Forty-Second Street. The latter reincorporation
17931-423: Was definitely an escape, it was not an escape from domesticity. Men knew and enjoyed the matching elements of the home life; it was more of a transfer or alternative reality. Despite the opportunity for mobility within the club, secrecy and exclusivity supported the patriarchal authority. With the absence of female voices and set of rigid institutional structures, members created internal stability. Induction into
18070-474: 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
18209-841: Was formed with 15 shareholders and is still open today. Quebec City has the Literary and Historical Society , the Stadacona Club, and the Garrison Club, which was founded by officers of the Canadian Militia and opened to the public in 1879. The Toronto Club is the oldest in that city, founded in 1837. Others include the National Club , the Albany Club , the York Club , the University Club of Toronto,
18348-685: Was founded in 1693. Discussion of trade or business is usually not allowed in traditional gentlemen's clubs, although it may hire out its rooms to external organisations for events. Similar clubs exist in other large UK cities, such as: In London, the original gentlemen's clubs exist alongside the late 20th century private members' clubs such the Groucho Club , Soho House and Home House , which offer memberships by subscription and are owned and run as commercial concerns. All offer similar facilities such as food, drink, comfortable surroundings, venue hire and in many cases accommodation. In recent years
18487-426: 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
18626-500: 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
18765-495: 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
18904-415: Was objectionable in some way or he was "unclubbable" (a word first used by F. Burney). This newly expanded category of English society came to include professionals who had to earn their income, such as doctors and lawyers. Most gentlemen belonged to only one club, which closely corresponded with the trade or social/political identity he felt most defined him, but a few people belonged to several. Members of
19043-647: Was often assumed that one's entire social circle should be within the same club. Harold Macmillan was said to have taken "refuge in West End clubs ...: Pratt's , Athenaeum , Buck's , Guards , the Beefsteak , the Turf , [and] the Carlton ". Although gentlemen's clubs were originally geared towards a male audience, domestic life played a key role in their establishment and continuity. Defying classic gender norms,
19182-470: 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
19321-477: Was to change the name to "The Harmonie Club." Members, however, continued to use the former name, Gesellschaft Harmonie, until 1893 when the club adopted English as its official language in place of German. The club was so successful, that by 1884 the New York Times reported that "many of New-York's leading German citizens are connected" with it. The large building erected on West Forty-Second allowed
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