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122-429: The East Tennessee Historical and Antiquarian Society was founded by Tennessee historian J. G. M. Ramsey (1797–1884), who sought to archive the papers and correspondence of the state's pioneers. The first meeting of the society was May 5, 1834. East Tennessee College president William B. Reese was elected as the first president and the executive committee included John Hervey Crozier and Thomas William Humes . As

244-634: 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,

366-418: 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

488-544: A 100 percent graduation rate for all players who finished their career at UT. Women's basketball rivals for Tennessee within the conference include Georgia , Vanderbilt , and LSU . In August 2014, University of Tennessee students were given the opportunity to vote for a name for the Neyland Stadium student section. The name "Rocky Top Rowdies" was selected over "General's Quarters", "Smokey's Howl", "Vol Army", and "Big Orange Crew". On November 10, 2014, as part of

610-487: A 25-year (2001–2026) campus master plan. The plan is designed to make the campus more pedestrian-friendly by establishing large areas of open green space and relegating parking facilities to the periphery. Uniform building design codes are in the planning. The iconic Ayres Hall underwent a massive upgrade as part of Phase 1 of the project in 2011. The University of Tennessee Space Institute , located in Tullahoma, TN ,

732-423: A donation from Knoxville radio station WIVK-AM/FM . The Phoenix , a literary art magazine, is published in the fall and spring semesters and showcases student artistic creativity. The Volunteer Channel (TVC) is the university's student run television station. TVC reaches nearly 7,000 UT students in residence halls and 100,000 residents in surrounding counties on Comcast Digital Channel 194. The Daily Beacon

854-604: 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

976-467: 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

1098-600: 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

1220-402: 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

1342-520: A separate institution, Fisk University . The following year, in 1870, the Tennessee Constitution was ratified with a provision, Article XI § 12, that prohibited public schools from enrolling both Black and White students, a policy that remained in place until the 1950s. In accepting the land grant funds, the university would focus upon instructing students in military, agricultural, and mechanical subjects. Trustees soon approved

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1464-567: 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

1586-480: 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

1708-713: 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

1830-657: A university-wide branding overhaul, the UT athletic department announced that starting with the 2015–16 school year, all UT women's teams except for basketball would drop "Lady" from their nickname and become simply "Volunteers". The rebranding coincided with UT's switch from Adidas to Nike as its uniform supplier. The change was unpopular and the name "Lady Volunteers" has since returned. Sports include tennis, pickleball, lacrosse, rugby, soccer, wrestling , hockey, running, crew, golf, ballroom dance, and paintball. Some teams join intercollegiate conferences. Charles Moore, president of

1952-521: A variety of interests and provide options for those interested in service, sports, arts, social activities, government, politics, cultural issues, and Greek societies. The university operates two radio stations: student-run The Rock (formerly the Torch) ( WUTK-FM 90.3 MHz ) and National Public Radio affiliate WUOT-FM 91.9 MHz. The university's first radio station was on the AM frequency 850 kHz,

2074-413: A yield rate of 29%. Of all matriculating students, the average high school GPA was 4.19; of incoming students who submitted SAT scores, the interquartile range was 1190–1340; of incoming students who submitted ACT scores, the interquartile range was 25–31. UT's 2023 freshman retention rate is 91.1%, with 73.5% going on to graduate from the university within six years The University of Tennessee

2196-658: 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

2318-664: Is also home to the Center of Laser Applications (CLA). In Fall 2023, the university enrolled 28,883 undergraduate and 7,421 graduate and professional students; 54.6% of students are female, 45.4% are male. UT hosts students from all 50 U.S. states and over 90 foreign countries. 22,922 students come from Tennessee, and the next three most popular U.S. states are Georgia , Virginia , and North Carolina . The top three home countries of international students are China , India , and Bangladesh . The University of Tennessee has over 450 registered student organizations . These groups cater to

2440-541: Is an extension of the Knoxville campus supporting research and graduate studies in aerospace engineering and related fields. The Space Institute is home to various supersonic wind tunnels used by the Department of Mechanical, Aerospace, and Biomedical Engineering. This includes Mach 2, Mach 2.3, and Mach 4 facilities. A Mach 7 wind tunnel was completed in 2021 to support hypersonic flight research. The Space Institute

2562-526: Is an organization of individuals whose ancestors fought in the American Civil War . University of Tennessee The University of Tennessee, Knoxville (or The University of Tennessee ; UT ; UT Knoxville ; or colloquially UTK or Tennessee ) is a public land-grant research university in Knoxville, Tennessee , United States. Founded in 1794, two years before Tennessee became

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2684-562: Is as an open forum for students." The University of Tennessee hosts roughly 20 sororities and 30 fraternities. Approximately 20% of undergraduate men and 30% of undergraduate women are active in Greek organizations. Tennessee competes in the Southeastern Conference 's (SEC) Eastern Division, along with Florida , Georgia , Kentucky , Missouri , South Carolina , and Vanderbilt . The only UT team that does not compete in

2806-612: Is responsible for the academic administration of the Knoxville campus and is a member of the Chancellor's Cabinet. On December 15, 2016, the UT Board of Trustees confirmed Beverly J. Davenport as the next Chancellor of the Knoxville campus, succeeding Jimmy Cheek . She was the first female Chancellor of the university. On May 2, 2018, UT President Joe DiPietro fired Davenport, citing poor communication and interpersonal skills, among other reasons. The decision received criticism from

2928-493: 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

3050-412: Is the editorially independent student newspaper of UT's campus. It began in 1906 as The Orange & White and became a staple on the campus landscape, publishing for 61 years. The Daily Beacon was established as its successor in 1965, taking over in spring 1967. It printed 10,000 daily copies weekly prior to moving online. It now distributes 2,100 copies per week and produces daily online content about

3172-703: Is the flagship campus of the University of Tennessee system , which is governed by a 12-member board of trustees appointed by the Governor of Tennessee . The Board of Trustees appoints a president to oversee the operations of the system, four campuses, and two statewide institutes. Randy Boyd is the current president following the retirement of Joseph A. DiPietro . The president appoints, with Board of Trustees approval, chancellors for each campus. The Knoxville campus has been headed by Chancellor Donde Plowman since 2019. Provost and Senior Vice Chancellor John Zomchick

3294-539: 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

3416-549: The Eastern Continental Divide . On September 10, 1794, two years before Tennessee became a state and at a meeting of the legislature of the Southwest Territory at Knoxville, Blount College (named for Governor William Blount ) was established with a charter. The new, non-sectarian, all-male, white-only institution struggled for 13 years with a small student body and faculty, and in 1807,

3538-706: The Great Depression , World War I , World War II , and the 1982 World's Fair . The society publishes the tri-annual magazine "Tennessee Ancestors" and the quarterly newsletter "Newsline". The headquarters of the East Tennessee Historical Society is located in the East Tennessee History Center in the Old Customs House in Knoxville, which is owned by Knox County. This building, depicted in

3660-596: The Journal and the then- Sentinel were using the nickname. Dave Ramsey List of colleges and universities in Tennessee Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around

3782-582: 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

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3904-452: The SECU , a collaborative endeavor designed to promote research, scholarship and achievement amongst the member universities in the Southeastern Conference . The Howard H. Baker Jr. Center for Public Policy regularly holds events relative to the center's three major areas of focus which are Energy & Environment, Global Security, and Leadership & Government. Through 21 departments,

4026-509: The UT–Battelle partnership, allow for considerable research opportunities for faculty and students. Also affiliated with the university are the Howard H. Baker Jr. Center for Public Policy , the University of Tennessee Anthropological Research Facility , and the University of Tennessee Arboretum , which occupies 250 acres (100 ha) of nearby Oak Ridge . The university is a direct partner of

4148-592: The University of Tennessee Medical Center , which is one of two Level I trauma centers in East Tennessee . Nine of its alumni have been selected as Rhodes Scholars and one alumnus, James M. Buchanan , received the 1986 Nobel Prize in Economics. It is a top producer of Fulbright scholars . UT is one of the oldest public universities in the United States and the oldest secular institution west of

4270-539: 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,

4392-896: The state of Franklin , and featured speaker Fitzhugh Lee . By the end of the century, the second incarnation of the ETHS was no longer active. In December 1924, Knoxville-area educators and librarians met at the Lawson McGhee Library to discuss reviving the ETHS and a new society met on January 16, 1925. Charter members included U.T. professor Philip Hamer, Lawson McGhee librarian Mary U. Rothrock , and U.T. president James Hoskins. The society began publishing its annual scholarly journal in 1929 and hosted lectures by historians Stanley J. Folmsbee and Samuel Cole Williams . The society published its first book, Folmsbee's Sectionalism and Internal Improvements in Tennessee , in 1939. In 1946,

4514-474: The stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until the Wall Street crash, after which the slide continued for three years, which

4636-438: The 16th state, it is the flagship campus of the University of Tennessee system , with ten undergraduate colleges and eleven graduate colleges. It hosts more than 30,000 students from all 50 states and more than 100 foreign countries. It is classified among "R1: Doctoral Universities – Very high research activity". UT's ties to nearby Oak Ridge National Laboratory , established under UT President Andrew Holt and continued under

4758-447: 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

4880-552: The Body Farm endeavors to increase anthropological and forensic knowledge specifically related to the decomposition of the human body and is one of the leading centers for such research in the United States. On March 16, 2009, the university broke ground on a 188-acre (76 ha) campus in downtown Knoxville that is devoted to nanotechnology , neutron science, materials science , energy, climate studies, environmental science , and biomedical science . The university implemented

5002-813: 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

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5124-621: The DOE, the University of Tennessee ranked 6th for FY 2021. The major hub of research at the University of Tennessee is Oak Ridge National Laboratory (ORNL), one of the largest government laboratories in the United States. ORNL is a major center of civilian and governmental research and features two of the world's most powerful supercomputers. The University of Tennessee is a member of the SEC Academic Consortium, now called

5246-530: 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

5368-521: 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

5490-790: The ETHS logo, is home to the Historical Society's Museum of East Tennessee History , which features cultural and historical exhibits from the region. Displays include items owned by Davy Crockett and John Sevier , memorabilia from the Appalachian Expositions of 1910 and 1911, artifacts from the Battle of Fort Sanders, a complete trolley car, a drugstore display, and early country music instruments and memorabilia. The center displays works by regional artists such as Lloyd Branson , Adelia Armstrong Lutz , Catherine Wiley , and Joseph Knaffl . The history center contains

5612-560: The East Tennessee geographic region. Extensive expansion programs were embarked upon the 1990s and 2000s (decade) and saw the construction of two sprawling additions to the hospital's campus, a new Cancer Institute and a Heart Lung Vascular Institute. The new UT Medical Center Heart Hospital received its first patient on April 27, 2010. The University of Tennessee is the only university in the nation to have three presidential papers editing projects. The university holds collections of

5734-489: 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

5856-442: 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

5978-642: 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

6100-620: The Knox County Archives and the Calvin M. McClung Collection of the Knox County Public Libraries . The East Tennessee Historical Society maintains two honorary organizations for genealogical research. The First Families of Tennessee is an organization of individuals who can trace their ancestry to families who lived in the area that became Tennessee prior to statehood . The Civil War Families of Tennessee

6222-481: 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

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6344-565: The SEC is the women's rowing program, which competes as a single-sport member of the Big 12 Conference . The Tennessee Lady Volunteers basketball team has won eight NCAA Division I titles (1987, 1989, 1991, 1996, 1997, 1998, 2007, 2008); only Connecticut , with eleven titles, has more championships. Their former head coach, Pat Summitt , is the all-time winningest basketball coach in NCAA history and had

6466-519: The Stadium" which includes a parade sequence and climaxes when the band stops at the bottom of The Hill and performs the "Salute to the Hill", an homage to the history and legacy of the university. The band is known for its pregame show at the beginning of every home game, which ends with the football team running onto the field through the "Opening of the T". Tennessee is known as the "Volunteer State" for

6588-698: The State of Tennessee eligible to participate in the Morrill Act of 1862 program. In January 1869, the Reconstruction-era Tennessee state government designated ETU as Tennessee's recipient of the Land-Grant designation and funds. As a land-grant institution, ETU was bound not to exclude any citizens of the state on the basis of color or race. To get around the requirement, the university chose to pay tuition for Black students to attend

6710-544: 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

6832-490: 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

6954-688: The UT Knoxville campus were $ 324.4M for FY 2022. UT Knoxville boasts several faculty who are among the leading contributors to their fields, including Harry McSween, generally recognized as one of the world's leading experts in the study of meteorites and a member of the science team for Mars Pathfinder and later a co-investigator for the Mars Odyssey and Mars Exploration Rovers projects. The university also hosts Barry T. Rouse, an international award-winning Distinguished Professor of Microbiology who has conducted multiple NIH -funded studies on

7076-622: 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

7198-543: 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

7320-440: The agricultural (nicknamed "Ag") campus offers 11 undergraduate majors, 13 undergrad minors, 14 graduate programs, and veterinary medicine majors. The campus supports academics, research and community outreach. The University of Tennessee Anthropological Research Facility , nicknamed the " Body Farm ", is located near the University of Tennessee Medical Center on Alcoa Highway ( US 129 ). Founded by William M. Bass in 1972,

7442-460: 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

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7564-465: 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

7686-554: The building and hired a professional staff. Under the directorship of Charles Faulkner Bryan and Mark Wetherington, the society’s membership doubled in the 1980s. With W. Todd Groce as executive director (1990-1995), the ETHS renamed its scholarly publication as the Journal of East Tennessee History , created the First Families of Tennessee project in 1992, and established the Museum of East Tennessee History in 1993. Since 1929,

7808-498: The campus and the surrounding area. Unearthed in the 1960s, the Rock probably soon thereafter became a "canvas" for student messages. For years the university sandblasted away the messages but eventually deferred to students' artistic endeavors. The Daily Beacon has editorialized: "Originally a smaller rock, the Rock has grown in prestige and size while thousands of coats of paint have been thrown on its jagged face. Really, its function

7930-407: The city and relocate to a place it could spread out. In the summer of 1826 (coincidentally, the year that Thomas Jefferson died), the trustees explored "Barbara Hill" (today known simply as The Hill ) as a potential site and relocated there by 1828. In 1840, the college was elevated to East Tennessee University (ETU). The school's status as a religiously non-affiliated institution of higher learning

8052-462: 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

8174-475: 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

8296-502: The creation of another predominantly white institution that would strip resources from Tennessee State University , the only state-funded Historically black university . The suit was not settled until 2001, when the Geier Consent Decree resulted in the appropriation of $ 77 million in state funding to increase diversity among student and faculty populations among all Tennessee institutions of higher learning. UT Knoxville

8418-625: 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

8540-633: 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

8662-408: 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

8784-435: 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

8906-402: 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

9028-427: 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

9150-576: 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

9272-565: The establishment of a medical program under the auspices of the Nashville School of Medicine and added advanced degree programs. East Tennessee University was renamed the University of Tennessee in 1879. During World War II, UT was one of 131 colleges and universities nationally that took part in the V-12 Navy College Training Program which offered students a path to a Navy commission. Although

9394-500: 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

9516-503: 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

9638-505: 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

9760-606: 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

9882-703: The herpes simplex virus (HSV) and who is a leading researcher in his field. UT's agricultural research programs are considered to be among the most accomplished in the nation, and the Institute for a Secure and Sustainable Environment is home to the East Tennessee Clean Fuels Initiative, recognized by the United States Department of Energy (DOE) as the "best local clean fuels program in America". By funding from

10004-519: 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,

10126-527: 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

10248-563: 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

10370-800: The large number of Tennesseans who volunteered for duty in the War of 1812 , the Mexican–American War , and the American Civil War . A UT athletic team was dubbed the Volunteers for the first time in 1902 by the Atlanta Constitution following a football game against the Georgia Tech Yellow Jackets , although the Knoxville Journal and Tribune did not use the name until 1905. By the fall of 1905 both

10492-403: The majority of its medical staff. Many doctors and nurses at UTMC have integrated careers as teachers and healthcare professionals, and the center promotes itself as the area's only academic, or "teaching hospital". The University Medical Center is the primary referral center for East Tennessee , Western North Carolina , and Southeastern Kentucky . It is one of three Level I trauma centers in

10614-521: 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 ,

10736-414: 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

10858-423: 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

10980-502: 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

11102-427: 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

11224-582: 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

11346-518: The original colors were reinstated a day later. The University of Tennessee's official colors are UT Orange (Pantone 151), White, and Smokey Gray (Pantone 426). The Pride of the Southland Band (or simply The Pride) is UT's marching band. As one of the oldest institutions at the university, the band partakes in many of the gameday traditions. At every home game, the Pride performs the "March to

11468-474: The papers of all three U.S. presidents from Tennessee— Andrew Jackson , James K. Polk , and Andrew Johnson . The 2022 annual ranking of U.S. News & World Report categorizes UT as "more selective". In 2023, the university received 50,488 applications. It extended offers of admission to 23,221 applicants, or 46%, after holistic review that includes examination of academic rigor, performance and admissions test scores. 6,694 accepted students chose to enroll,

11590-483: 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

11712-480: 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

11834-459: 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

11956-434: 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

12078-487: The school was rechartered as East Tennessee College as a condition of receiving the proceeds from the settlement devised in the Compact of 1806. When Samuel Carrick , its first president and only faculty member, died in 1809, the school was temporarily closed until 1820. When it reopened, it began experiencing growing pains. Thomas Jefferson had previously recommended that the college leave its confining single building in

12200-467: The society has published an annual collection of scholarly essays on the history and culture of East Tennessee. Initially known as Publications , the essays have been published as the Journal of East Tennessee History since 1990. The journal covers topics on historical and cultural issues related to East Tennessee and the southern Appalachian region, including the American Civil War , the early settlement of East Tennessee, post-Civil War Reconstruction ,

12322-505: The society published a comprehensive history of Knox County, The French Broad-Holston Country , as part of the state's sequicentennial celebrations. The book, edited by Rothrock, included a history of the county written by Folmsbee with contributions by Harvey Broome . A revised edition was published in 1972. In 1976, the society published a comprehensive history of Knoxville, Heart of the Valley: A History of Knoxville, Tennessee . The book

12444-405: The society's recording secretary, Ramsey acquired a collection of papers and correspondence from early Tennesseans such as William Blount , John Sevier , Samuel Wear, Alexander Outlaw , and James Hubbert. The "Antiquarian" was dropped from the society's name by 1852. Ramsey kept the society's archives at his plantation, Mecklenburg, east of Knoxville. The archives were destroyed when Mecklenburg

12566-432: The student body and faculty, as these reasons were also listed as Davenport's strengths, and why DiPietro chose to hire her a little over one year earlier. She was rehired. The University of Tennessee Medical Center , administered by University Health Systems and affiliated with the University of Tennessee Graduate School of Medicine, collaborates with the University of Tennessee Health Science Center to attract and train

12688-410: The university resisted desegregation . Black students could first enroll as undergraduates in 1961. African-American attorney Rita Sanders Geier filed suit against the state of Tennessee in 1968, alleging that its higher education system remained segregated despite a federal mandate ordering desegregation. She alleged that the opening of a University of Tennessee campus at Nashville would lead to

12810-544: The university was required to enroll students of any race or ethnicity as a public, land-grant institution, the Tennessee state constitution prohibited integrated education. Only white students were accepted until 1952, when the first two Black students were allowed to enroll in a graduate program. Even after educational segregation was ruled unconstitutional by the Supreme Court in 1954 in Brown v. Board of Education ,

12932-531: The university's athletic association, chose orange and white for the school colors on April 12, 1889. His inspiration is said to have come from orange and white daisies which grew on the Hill. To this day there are still orange and white flowers grown outside the University Center. Although students confirmed the colors at a special meeting in 1892, dissatisfaction caused the colors to be dropped. No other acceptable colors could be agreed on, however, and

13054-476: 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

13176-673: 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

13298-493: The world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. The Depression was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on

13420-778: 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

13542-658: 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

13664-478: 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

13786-500: Was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in

13908-800: Was burned in the Civil War . By the end of the war, the society had disintegrated. In January 1883, Confederate veterans, led by Moses White and William Henderson joined Ramsey and Crozier in reviving the East Tennessee Historical Society as an auxiliary of the Southern Historical Association. In 1885, University of Tennessee professor William Gibbs McAdoo served as president and future Knoxville mayor Samuel G. Heiskell served as vice president. Other members included newspaper editor William Rule and scholar Eben Alexander . The society began admitting women and hosted lectures on Fort Loudoun , Irish nationalist John Mitchel , and

14030-530: Was edited by Lucile Deaderick, and included a history of the city by William MacArthur. MacArthur's history was republished in the 1982 book, Knoxville: Crossroads of the New South , which included photographs from the McClung Collection. In the late 1970s, Knox County acquired the Old Customs House to house the McClung Collection and the Knox County Archives. The ETHS set up its headquarters in

14152-474: 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

14274-426: 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

14396-500: 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

14518-446: 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

14640-470: 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

14762-474: Was tied for 46th among public universities and tied for 103rd among national universities in the United States by U.S. News & World Report in its 2022 rankings. The University of Tennessee was ranked as the most LGBTQ-unfriendly university in the United States by The Princeton Review among all 388 institutions it surveyed for its 2023 rankings. The campus Pride Center has been defunded and vandalized several times. The total research expenditures of

14884-546: Was unusual for the period of time in which it was chartered, and the school is generally recognized as the oldest such establishment of its kind west of the Appalachian Divide. Tennessee was a member of the Confederacy in 1862 when the Morrill Act was passed, providing for endowment funds from the sale of federal land to state agricultural colleges. On February 28, 1867, Congress passed a special Act making

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