Misplaced Pages

#796203

98-671: The New York State Office of Parks, Recreation and Historic Preservation ( NYS OPRHP ) is a state agency within the New York State Executive Department charged with the operation of state parks and historic sites within the U.S. state of New York . As of 2014, the NYS OPRHP manages nearly 335,000 acres (523 sq mi; 1,360 km) of public lands and facilities, including 180 state parks and 35 historic sites, that are visited by over 78 million visitors each year. The agency that would become

196-634: 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,

294-418: 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

392-552: A bicameral legislature. The term "government agency" or "administrative agency" usually applies to one of the independent agencies of the United States government , which exercise some degree of independence from the President's control. Although the heads of independent agencies are often appointed by the government, they can usually be removed only for cause. The heads of independent agencies work together in groups, such as

490-529: A commission, board or council. Independent agencies often function as miniature versions of the tripartite federal government with the authority to legislate (through the issuing or promulgation of regulations), to adjudicate disputes, and to enforce agency regulations. Examples of independent agencies include the Federal Communications Commission (FCC), Federal Reserve Board , U.S. Securities and Exchange Commission (SEC),

588-594: A federal system. Agencies can be established by legislation or by executive powers. The autonomy, independence, and accountability of government agencies also vary widely. Early examples of organizations that would now be termed a government agency include the British Navy Board , responsible for ships and supplies, which was established in 1546 by King Henry VIII and the British Commissioners of Bankruptcy established in 1570. From 1933,

686-604: 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

784-467: 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

882-600: 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

980-402: 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

1078-567: 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

SECTION 10

#1732793135797

1176-480: 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

1274-713: 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

1372-658: 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

1470-651: Is responsible for the Greek regions of Macedonia and Thrace . The term agency in India has several meanings; for example, the Cabinet and the parliament Secretariat describes itself as a " nodal agency for coordination amongst the ministries of the Govt. of India". Most notably as an international feature, what appear to be independent agencies ( or apex agencies ) include some that have active roles for Ministers: such as,

1568-493: 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

1666-539: 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

1764-607: The Department of the Treasury . Most federal agencies are created by Congress through statutes called " enabling acts ", which define the scope of an agency's authority. Because the Constitution does not expressly mention federal agencies (as it does the three branches), some commentators have called agencies the "headless fourth branch" of the federal government. However, most independent agencies are technically part of

1862-556: The Hudson Palisades from the damaging effects of quarrying resulted in the creation of a number of state parks in the 1910s and 1920s, including Bear Mountain State Park and Harriman State Park . Throughout these early acquisitions, the state lacked a formal statewide agency or organization to coordinate management and development of state parks. Instead, parks were managed by independent regional commissions, such as

1960-699: The National Labor Relations Board (NLRB) and the Federal Trade Commission (FTC). A broader definition of the term "government agency" also means the United States federal executive departments that include the President's cabinet-level departments and their sub-units. Examples of these include the Department of Energy (DOE) and the Internal Revenue Service (IRS), which is a bureau of

2058-1176: The National Security Council , the Medical Council of India , the Pharmacy Council of India (PCI), the Indian Council of Agricultural Research , and the NITI Aayog , which is chaired ex officio by the Prime Minister. Russia has had many government agencies throughout its history. The USSR had the secretive KGB . Today, Russian government agencies such as the FSB , FSO , and the GRU use Spetsnaz or other masked operators for any missions. Other organizations include Kremlin and presidential security. The Government agencies in Sweden are State controlled organizations who act independently to carry out

SECTION 20

#1732793135797

2156-811: The New Deal saw growth in U.S. federal agencies, the " alphabet agencies " as they were used to deliver new programs created by legislation, such as the Federal Emergency Relief Administration . From the 1980s, as part of New Public Management , several countries including Australia and the United Kingdom developed the use of agencies to improve efficiency in public services. Administrative law in France refers to autorité administrative indépendante (AAI) or Independent Administrative Authorities. They tend to be prominent in

2254-582: 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

2352-629: The New York State Department of Environmental Conservation , which was tasked with all responsibilities of the former Conservation Department, with the exception of managing the state's parks and historic sites outside of the Forest Preserve. The former Division of Parks was upgraded to become an independent agency, known as the New York State Office of Parks and Recreation . Legislation enacted in 1972 gave

2450-652: The Palisades Interstate Park Commission , or by organizations such as the American Scenic and Historic Preservation Society . To address the need for statewide coordination, the New York State Council of Parks was created by legislation adopted on April 18, 1924. The council served to plan development and set standard policies for all New York state-owned parks, reservations, and historic sites that were not under

2548-552: The Parliament of the United Kingdom , Scottish Parliament or the Welsh Parliament . The Congress and President of the United States delegate specific authority to government agencies to regulate the complex facets of the modern American federal state . Also, most of the 50 U.S. states have created similar government agencies. Each state government is similar to the national government, with all but one having

2646-577: The Temporary Emergency Relief Administration , Civilian Conservation Corps , Civil Works Administration , and Works Progress Administration cleared woodlands, performed maintenance tasks, and built roads, trails, golf courses, buildings, and furniture for New York's parks through the 1930s and early 1940s. As the Depression came to a close with the United States joining World War II in 1941, New York State

2744-539: 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,

2842-447: 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

2940-813: 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

3038-721: The Conservation Commission and the American Scenic and Historic Preservation Society. Prior to the creation of the Division of Parks (see below ), the State Council of Parks was the highest-level organization overseeing park management in the state. Although it later became an advisory body, the council continues to this day, known officially as the New York State Council of Parks, Recreation and Historic Preservation . It includes representatives from

New York State Office of Parks, Recreation and Historic Preservation - Misplaced Pages Continue

3136-471: 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

3234-477: The Division of Parks. The council was also at this time given the additional responsibility of planning highway improvements to enable access to park facilities. Although the Great Depression of the 1930s reduced available funding for New York's state parks, the period was a time of development of existing parks' facilities. Construction teams comprising workers employed through federal programs such as

3332-521: 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

3430-489: 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

3528-478: The Forest Preserve. Increased funding for parks made available in the 1960s did allow for the purchase of several large tracts throughout the state for parkland development. The state also began at this time to expand into new areas, such as an increase in boating facilities and establishment of parks within New York City . A major shift in New York's park management came in 1970 with legislation that created

3626-442: 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

3724-642: 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

3822-481: 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

3920-643: The New York State Board for Historic Preservation) was created to help guide their management. New York's park system continued expansion after World War II ended. The creation or completion of various parkways in the state, such as the Palisades Interstate Parkway and Lake Ontario Parkway , received priority during the 1950s. As visitation to New York's state parks increased following the war, new lands were sought for state parks, including unsuccessful attempts to expand into

4018-538: The New York State Office of Parks, Recreation and Historic Preservation (NYS OPRHP) was created in 1970; however, the history of state parks and historic sites in New York stretches back to the latter part of the 19th century. Management of state-owned parks, and guidance for the entire state park system, was accomplished by various regional commissions, private organizations, statewide advisory councils, and divisions within other state agencies prior to

New York State Office of Parks, Recreation and Historic Preservation - Misplaced Pages Continue

4116-544: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This

4214-490: 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

4312-622: 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

4410-543: 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

4508-638: 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

4606-542: The agency direct control of New York's park lands, with the State Council of Parks and regional commissions retaining an advisory role in management. The agency's name was updated in 1981 to its current form, the New York State Office of Parks, Recreation and Historic Preservation (NYS OPRHP). The state park system underwent a period of rapid expansion during former governor George Pataki 's administration. Between 1995 and 2007, Pataki, along with then-parks commissioner Bernadette Castro , opened 28 new state parks. Although

4704-730: The authority of the New York State Conservation Commission (which notably included those lands that comprised the Forest Preserve in the Adirondacks and Catskills ). Its formation was supported by governor Alfred E. Smith and based on plans by Robert Moses , who became the council's first commissioner; Moses would remain in charge of the council until 1963. The council initially included representatives from regional park commissions and other organizations involved in park management, including

4802-460: 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

4900-573: 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

4998-465: 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

SECTION 50

#1732793135797

5096-462: 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

5194-475: 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

5292-625: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what

5390-633: 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

5488-408: 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

5586-435: 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

5684-402: 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

5782-427: 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

5880-576: 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

5978-493: The establishment of NYS OPRHP, which grew from the framework created by these earlier organizations. State-level procurement and management of parks in New York began in 1883, when then-governor Grover Cleveland signed legislation authorizing the appropriation of lands near Niagara Falls for a "state reservation". Two years later, the Niagara Reservation, known today as Niagara Falls State Park , opened to

SECTION 60

#1732793135797

6076-556: The executive branch, with a few located in the legislative branch of government. By enacting the Administrative Procedure Act (APA) in 1946, Congress established some means to oversee government agency action. The APA established uniform administrative law procedures for a federal agency's promulgation of rules and adjudication of claims. The APA also sets forth the process for judicial review of agency action. Great Depression The Great Depression

6174-500: 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

6272-503: 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

6370-505: 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

6468-474: The following areas of public policy; Independent Administrative Authorities in France may not be instructed or ordered to take specific actions by the government. The General Secretariat for Macedonia and Thrace ( Greek : Γενική Γραμματεία Μακεδονίας-Θράκης), previously Ministry for Macedonia and Thrace ( Greek : Υπουργείο Μακεδονίας-Θράκης) is a government agency of the Hellenic Republic that

6566-509: The following departments and commissions as of 2014: A reorganization of New York's state government took place in 1926, which resulted in the creation of the New York State Conservation Department. The newly formed Conservation Department included a Division of Parks which assumed responsibility for management of New York's parks and historic sites. The Council of Parks continued as a constituent unit of

6664-542: 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

6762-745: The governor was lauded as a conservationist for his actions, the new parks increased financial burdens on the NYS OPRHP, whose funding for operations remained steady. In 2010, a statewide fiscal crisis led to an announcement that 55 state parks and historic sites would be closed. The threatened closures were eventually averted, with budget shortfalls made up through reduced staffing and hours at many parks, closure of some internal facilities such as campgrounds and golf courses, and increases in user fees. The 2010 fiscal crisis resulted in decreased availability of funds for maintenance and upkeep at New York's parks. To help address an estimated $ 1 billion in needed repairs, $ 143 million in funds were made available in 2012;

6860-519: 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,

6958-404: 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

7056-563: 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

7154-521: 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 ,

7252-414: 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

7350-423: 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

7448-469: The money came from a combination of state, federal, and private grant sources. Sustained funding for repairs was announced in 2015, with the state planning to spend $ 900 million by 2020 at parks and historic sites throughout the state. As of 2014, the NYS ;OPRHP administered: Government agency A government agency may be established by either a national government or a state government within

7546-559: 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

7644-427: 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

7742-582: 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

7840-565: The outcome in individual cases as well. In addition to the State and its agencies, there are also local government agencies, which are extensions of municipalities and county councils . Agencies in the United Kingdom are either executive agencies answerable to government ministers or non-departmental public bodies answerable directly to parliament or the devolved assemblies of the United Kingdom. They are also commonly known as Quangos . Agencies can be created by enabling legislation by

7938-483: 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

8036-533: The policies of the Government of Sweden . The Ministries are relatively small and merely policy-making organizations, allowed to control agencies by policy decisions but not by direct orders. This means that while the agencies are subject to decisions made by the Government, Ministers are explicitly prohibited (so-called ban on ministerstyre ) from interfering with the day-to-day operation in an agency or

8134-480: 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

8232-459: 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

8330-831: The public. The park is claimed to be the oldest state park in the United States, and was the first established via eminent domain . The State Reservation on the St. Lawrence was authorized in 1896. By 1898, it included modest state holdings in the Thousand Islands region of New York. During the early 20th century, the state continued to expand its public parks system with several large additions, including Letchworth State Park in 1906, Fire Island State Park (known today as Robert Moses State Park ) in 1908, John Boyd Thacher State Park in 1914, Enfield Glen State Park (today's Robert H. Treman State Park ) in 1920, and Allegany State Park in 1921. A coordinated effort to protect portions of

8428-434: 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

8526-476: 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

8624-673: 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

8722-778: 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

8820-658: 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

8918-443: 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

9016-478: 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

9114-474: 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

9212-426: 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

9310-500: 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

9408-446: 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

9506-652: Was managing 74 parks welcoming a combined 20 million visitors annually. However, the Division of Parks' responsibilities were reduced in 1944 when 27 State Historic Sites were placed under the jurisdiction of the New York State Education Department . These sites were eventually returned to the Conservation Department in 1966; in the same year, the New York State Historic Trust (which later became

9604-470: 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

#796203