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148-836: The Society engages in a number of outreach programs to bring Missouri's history to the public. Such programs are the Missouri History in Performance theatre, the Missouri History Speakers' Bureau, and the Missouri Conference on History. The collection of the Society, concerning pamphlets, books, and state publications, is over 460,000 items. In addition, the Society has over 500,000 manuscript items, 2,900 maps, over 150,000 state archival records, and over 57,000 reels of microfilm . In 2011,

296-634: 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,

444-418: 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

592-657: A January 1898 meeting of the Missouri Press Association. Two of the chief supporters were Edwin W. Stephens, later first president of the Society, and Walter Williams , founder of the Missouri School of Journalism , and a third, Isidor Loeb, a member of the University of Missouri's history and political science faculty. At the January meeting, the proposal met with support of the members and

740-434: A committee was established to draw up a constitution and bylaws for a historical society that would serve the state of Missouri. In this formative period of the Society's underpinnings, Stephens and Williams sought and received great support from the University of Missouri. Such was the support, that the not yet formed Society was given space in present-day Jesse Hall . Progress advanced quickly and only four months later, at

888-500: A computer to settle the returns for each bet once the details of the wager have been 'translated' into the system by an employee. The added efficiency of this digital system has ensured that there are now very few, if indeed any, betting offices continuing to use microfilm cameras in the UK. Visa and National City use microfilm (roll microfilm and fiche) to store financial, personal, and legal records. Source code for computer programs

1036-595: A drawing that is 2.00 × 2.80 metres, that is 79 × 110 in. These films are stored as microfiche. 16 mm or 35 mm film to motion picture standard is used, usually unperforated. Roll microfilm is stored on open reels or put into cassettes. The standard lengths for using roll film is 30.48 m (100 ft) for 35 mm rolls, and 100 ft, 130 ft and 215 feet for 16 mm rolls. One roll of 35 mm film may carry 600 images of large engineering drawings or 800 images of broadsheet newspaper pages. 16 mm film may carry 2,400 images of letter-sized images as

1184-399: A format no longer produced, were similar to microfiche, but printed on cardboard rather than photographic film. Equipment is available that accepts a data stream from a computer; this exposes film to produce images as if the stream had been sent to a line printer and the listing had been microfilmed. The process is known as computer output microfilm or computer output microfiche (COM). Using

1332-604: 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

1480-467: 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

1628-662: A large collection of works by famed Missouri artists George Caleb Bingham and Thomas Hart Benton , in addition to other artists. Overall, the Society possesses over four thousand pieces of artwork, including paintings, lithographs, sketches, and engravings. The editorial cartoon collection includes works by Daniel Fitzpatrick, S. J. Ray, Don Hesse, Tom Engelhardt, and renown Second World War artist, Bill Mauldin . The Society also contains photography and map collections. The State Historical Society of Missouri hosts changing exhibits of art and history drawn from its collections. All exhibits and collections are open and fully accessible to

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1776-483: A light source; this is the negative of text on paper. COM is sometimes processed normally. Other applications require that image appears as a conventional negative; the film is then reversal processed. This outputs either 16 mm film or fiche pages on a 105 mm roll. Because listing characters are a simple design, a reduction ratio of 50 gives good quality and puts about 300 pages on a microfiche. A microfilm plotter, sometimes called an aperture card plotter, accepts

1924-584: A matrix of microimages. All microfiche are read with their text parallel to the long side of the fiche . Frames may be landscape or portrait in orientation . Along the top of the fiche a title may be recorded for visual identification. The most commonly used format is a portrait image of about 10 × 14 mm. Office-size papers or magazine pages require a reduction of 24 or 25 in size. Microfiche are stored in open-top envelopes, which are put in drawers or boxes as file cards or fitted into pockets in purpose-made books. Ultrafiche (also "ultramicrofiche" )

2072-452: A means of keeping compact records of bets taken. Betting shop customers would sometimes attempt to amend their betting slip receipt to attempt fraud, and so the microphotography camera (which also generally contained its own independent time-piece) found use as a definitive means of recording the exact details of each and every bet taken. The use of microphotography has now largely been replaced by digital 'bet capture' systems, which also allow

2220-561: A method to microformat dissertations, and in 1934 the United States National Agriculture Library implemented the first microform print-on-demand service, which was quickly followed by a similar commercial concern, Science Service. In 1935, Kodak's Recordak division began filming and publishing The New York Times on reels of 35 millimeter microfilm, ushering in the era of newspaper preservation on film. This method of information storage received

2368-600: 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

2516-402: 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

2664-637: A novelty was an opinion shared in the 1858 Dictionary of Photography , which called the process "somewhat trifling and childish". Microphotography was first suggested as a document preservation method in 1851 by the astronomer James Glaisher , and in 1853 by John Herschel , another astronomer. Both men attended the 1851 Great Exhibition in London, where the exhibit on photography greatly influenced Glaisher. He called it "the most remarkable discovery of modern times", and argued in his official report for using microphotography to preserve documents. A pigeon post

2812-538: A quarterly newsletter to members titled the Missouri Times , and books. The Missouri Historical Review , published since 1906, the Review publishes articles on Missouri history, as well as reviews of books concerning Missouri history. The review is award-winning and published every four months. In 2006, the Society published a number of collections celebrating 100 years of the Review on specific topics, such as

2960-401: A reduced size. The prints were on photographic paper and did not exceed 40 mm, to permit insertion in a goose-quill or thin metal tube, which protected against the elements. The pigeons each carried a dispatch that was tightly rolled and tied with a thread, and then attached to a tail feather of the pigeon. The dispatch was protected by being inserted in the quill, which was then attached to

3108-567: 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

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3256-412: A simple, inexpensive ($ 2.00 in 1950), monocular microfilm viewing device, known as the "Seidell viewer", that was sold during the 1940s and 1950s. A microfilm printer contains a xerographic copying process, like a photocopier . The image to be printed is projected with synchronised movement on to the drum. These devices offer either small image preview for the operator or full size image preview, when it

3404-414: A single film may be inserted into a dark slide or the camera may be fitted with a roll film holder which after an exposure advances the film into a box and cuts the frame off the roll for processing as a single film. For engineering drawings, a freestanding open steel structure is often provided. A camera may be moved vertically on a track. Drawings are placed on a large table for filming, with centres under

3552-406: A single stream of microimages along the film set so that lines of text are parallel to the sides of the film or 10,000 small documents, perhaps cheques or betting slips, with both sides of the originals set side by side on the film. Aperture cards are Hollerith cards into which a hole has been cut. A 35 mm microfilm chip is mounted in the hole inside of a clear plastic sleeve or secured over

3700-480: 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

3848-401: A square inch, and that a one-foot cube could contain 1.5 million volumes. In 1906, Paul Otlet and Robert Goldschmidt proposed the livre microphotographique as a way to alleviate the cost and space limitations imposed by the codex format. Otlet's overarching goal was to create a World Center Library of Juridical, Social and Cultural Documentation, and he saw microfiche as a way to offer

3996-554: A stable and durable format that was inexpensive, easy to use, easy to reproduce, and extremely compact. In 1925, the team spoke of a massive library where each volume existed as master negatives and positives, and where items were printed on demand for interested patrons. In the 1920s, microfilm began to be used in a commercial setting. New York City banker George McCarthy was issued a patent in 1925 for his "Checkograph" machine, designed to make micrographic copies of cancelled checks for permanent storage by financial institutions. In 1928,

4144-713: 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

4292-470: A step and repeat mechanism to advance the film after each exposure. The simpler versions use a dark slide loaded by the operator in a dark room; after exposure the film is individually processed, which may be by hand or using a dental X-ray processor. Cameras for high output are loaded with a roll of 105 mm film. The exposed film is developed as a roll; this is sometimes cut to individual fiche after processing or kept in roll form for duplication. Equipment

4440-689: A storage medium than earlier methods of film information storage, such as the Photoscope, the Film-O-Graph, the Fiske-O-Scope, and filmslides. The year 1938 also saw another major event in the history of microfilm when University Microfilms International (UMI) was established by Eugene Power . For the next half century, UMI would dominate the field, filming and distributing microfilm editions of current and past publications and academic dissertations. After another short-lived name change, UMI

4588-411: A stream that might be sent to a computer pen plotter. It produces corresponding frames of microfilm. These produce microfilm as 35 or 16 mm film or aperture cards. Computer Output Microfiche was used to distribute massive amounts of frequently changed data to institutions or companies which could not afford computer terminals but already used microfiche readers for a variety of reasons. In some cases

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4736-658: 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

4884-463: Is a scaled-down reproduction of a document, typically either photographic film or paper, made for the purposes of transmission, storage, reading, and printing. Microform images are commonly reduced to about 4% or 1 ⁄ 25 of the original document size. For special purposes, greater optical reductions may be used. Three formats are common: microfilm (reels), microfiche (flat sheets), and aperture cards . Microcards, also known as "micro-opaques",

5032-482: Is an exceptionally compact version of a microfiche or microfilm, storing analog data at much higher densities. Ultrafiche can be created directly from computers using appropriate peripherals. They are typically used for storing data gathered from extremely data-intensive operations such as remote sensing. Microcards are an opaque, non-reversed format, sometimes known as microopaques. They were invented in 1948 by Fremont Rider and described in his book, The Scholar and

5180-402: Is available that accepts a data stream from a mainframe computer. This exposes film to produce images as if the stream had been sent to a line printer and the listing had been microfilmed. Because of the source one run may represent many thousands of pages. The process is known as computer output microfilm or computer output microfiche (COM). Within the equipment character images are made by

5328-581: Is built into a box. In some versions this is for bench top use, other versions are portable. The operator maintains a stack of material to be filmed in a tray, the camera automatically takes one document after another for advancement through the machine. The camera lens sees the documents as they pass a slot. Film behind the lens advances exactly with the image. Special purpose flow cameras film both sides of documents, putting both images side by side on 16 mm film. These cameras are used to record cheques and betting slips. All microfiche cameras are planetary with

5476-411: Is called a reader printer. Microform printers can accept positive or negative films and positive or negative images on paper. New machines allow the user to scan a microform image and save it as a digital file. 105 × 148 mm flat film is used for microimages of very large engineering drawings. These may carry a title photographed or written along one edge. Typical reduction is about 20, representing

5624-423: Is in use. They may offer a choice of magnifications. They usually have motors to advance and rewind film. When coding blips are recorded on the film a reader is used that can read the blips to find any required image. Portable readers are plastic devices that fold for carrying; when open they project an image from microfiche on to a reflective screen. For example, with M. de Saint Rat , Atherton Seidell developed

5772-501: Is provided 16, 35 and 105 mm wide in lengths of 30 metres (100 ft) and longer, and is usually unperforated. Roll film is developed, fixed and washed by continuous processors. Sheet film is supplied in ISO A6 size. This is either processed by hand or using a dental X-ray processor. Camera film is supplied ready mounted in aperture cards. Aperture cards are developed, fixed and washed immediately after exposure by equipment fitted to

5920-493: 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

6068-539: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that

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6216-918: The Civil War in Missouri and Kansas City: America's Crossroads. Since 1989, The State Historical Society of Missouri also sponsors National History Day in Missouri, the state contest for National History Day . More than 2,400 students across the state participate in the contest, with more than 500 moving on to state. 50-55 students from Missouri move on to the national contest in Washington, D.C. based on performance in one of five categories: documentary, exhibit, paper, performance/acting, and website. The Missouri Conference of History brings together history teachers and professional historians to share results of research, exchange information of teaching and curriculum, to consider ways to promote interest in history and

6364-980: The Eastman Kodak Company bought McCarthy's invention and began marketing check microfilming devices under its "Recordak" division. Between 1927 and 1935, the Library of Congress microfilmed more than three million pages of books and manuscripts in the British Library ; in 1929 the Social Science Research Council and the American Council of Learned Societies joined to create a Joint Committee on Materials for Research, chaired for most of its existence by Robert C. Binkley , which looked closely at microform's potential to serve small print runs of academic or technical materials. In 1933, Charles C. Peters developed

6512-660: The Federal Writers' Project and the Works Progress Administration . Joining Shoemaker at the Society in the same time period was George Mahan, who served as a trustee and as president. Mahan's contributions included a post-mortem donation to allow the Society to purchase books for the Society's Mark Twain collection, as well as the payment for the Society for the establishment of twenty-nine roadside historical markers along United States highway 36 from St. Joseph to Hannibal . The staff of

6660-582: 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

6808-571: The Sedalia Natural History Society to donate an equally considerable collection of books and pamphlets, as well maps and charts. In the same time period, the Society prepared an exhibit on the state's newspapers for the 1904 St. Louis World's Fair and began the first publications of the Missouri Historical Review. The growing collection necessitated the need for more space to store it. Slowly

6956-591: The St. Louis Post Dispatch has become one of the largest collections for the Society with over 1,500 original cartoon drawings. Social, political, and aesthetic attitudes shaped his artwork, with a special focus on the cartoons he created during the World War I era. The Society's Newspaper Library has the largest collection of Missouri state newspapers in the nation beginning with the very first newspaper published in 1808. Thousands of newspapers on microfilm are available to

7104-484: 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,

7252-494: The daguerreotype process, John Benjamin Dancer was one of the first to produce microphotographs , in 1839. He achieved a reduction ratio of 160:1. Dancer refined his reduction procedures with Frederick Scott Archer 's wet collodion process , developed in 1850–51, but he dismissed his decades-long work on microphotographs as a personal hobby and did not document his procedures. The idea that microphotography could be no more than

7400-474: 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

7548-447: 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

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7696-813: 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

7844-530: 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

7992-521: 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

8140-489: 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

8288-701: The Future of the Research Library . To create microform media, a planetary camera is mounted with the vertical axis above a copy that is stationary during exposure. High volume output is possible with a rotary camera which moves the copy smoothly through the camera to expose film which moves with the reduced image. Alternatively, it may be produced by computers, i.e. COM (computer output microfilm). Normally microfilming uses high resolution panchromatic monochrome stock. Positive color film giving good reproduction and high resolution can also be used. Roll film

8436-442: 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

8584-642: 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

8732-481: 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

8880-419: The Society as a trustee of the state. However, the Society did not receive its first appropriation until 1901. That amount was $ 4,500, intended to service the Society from 1901 to 1902. The 1899 bill stated precisely the duties of the new state historical society: It shall be the duty of the Society to collect books, maps, and other papers and material for the study of history, especially of this state and of

9028-613: The Society collection between the years 1880 and 1922 appear on the Chronicling America website. The Society also has a collection of digital newspapers available through its own website. The Society's Reference Library is home to over half a million volumes of published secondary sources on Missouri and the Middle West. Family histories, county histories, city directories, official state publications, church histories, scholarly journals, and genealogical indexes are among

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9176-419: The Society holds the Missouri Conference on History, a multiple day event, in which lectures are given on Missouri related topics in history. In addition, awards are presented to the best book, best journal article, and best graduate student paper concerning state history. In addition to the programs described above, the Society reaches the public through the means of publishing the Missouri Historical Review ,

9324-600: The Society researched each marker and wrote their inscriptions. The Society would expand the historic marker program over the next decades, planting them across the state. Shoemaker also continued to expand the Society's collection, writing personal requests with some success. In 1932, Shoemaker cataloged donations for that year consisting of, "1,207 books, 964 pamphlets, 1 painting, 86 photographs and negatives, 28 manuscript collections, 3 ledger books, 1 medal, 49 clippings, 4 sheets of music, and 4 poems," not including newspaper donations. Shoemaker pushed for more publications from

9472-654: The Society to extend history to the public is the Missouri History Speakers' Bureau. For nearly forty years, the Society, through the Bureau, has made available lecturers to groups and organizations throughout the state to speak on various moments in the state's history. It is funded in part by the Missouri Humanities Council with assistance from the National Endowment for the Arts . Annually,

9620-649: The Society, it did become involved in several ways with the New Deal programs. For a couple years, it hired men from the National Youth Administration to assist in the moving books and newspapers. As well as hiring women from the Civil Works Administration to complete needed tasks about the Society such as updating the Society's "Who's Who" files for the state and indexing selected newspapers. The Society also assisted

9768-472: The Society, which ranged from books to newspaper weeklies. From 1925 to 1939, the Society published a series of articles entitled, This Week in Missouri History , that appeared in at least one paper in 97 of the 114 counties across the state, including St. Louis. Begun in 1922, the Society embarked on a twenty volume project that concluded in 1965, entitled The Messages and Proclamations of the Governors of

9916-588: The State of Missouri. These volumes included biographical sketches, in addition to the documentation. Shoemaker proudly considered the Missouri Historical Review as one of the finest such publications in the country at the time. On August 10, 2019, the 198th anniversary of Missouri's statehood, the Center for Missouri Studies opened in Columbia. The center is a large public facility built to replace Ellis Library as

10064-544: 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

10212-490: 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

10360-685: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in

10508-543: 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

10656-699: The Western Historical Manuscript Collection was absorbed into the State Historical Society and ceased to exist. The manuscripts and collection of the Western Historical Manuscript Collection can be accessed at the Society's Research Center located in Ellis Library and at Society research centers in Kansas City, St. Louis, Rolla, Cape Girardeau, and Springfield. In an effort to bring history to

10804-494: The Western Manuscript Collection, accessible in Columbia, Kansas City , Rolla, and St. Louis, Missouri , specializing in the preservation and collection of Missouri and Middle West history, was absorbed into the Society. Establishing an official state historical society had been discussed a few years before its eventual founding in 1898 but did not gain substantial backing until the topic was raised at

10952-492: The annual donation of their papers, and after ten years, a lifetime membership granted. Secretary Loeb quickly sought to expand the collection further, putting out a request to citizens of the state for all types of items, both public and private, and including " Indian relics ." The collection received a noted boost in 1901 by the donations of the new secretary, Francis Asbury Sampson, which consisted of nearly 2,000 books and just over 14,000 pamphlets. Additionally, he convinced

11100-405: The aperture with adhesive tape. They are used for engineering drawings in all engineering disciplines. There are libraries of these containing over 3 million cards. Aperture cards may be stored in drawers or in freestanding rotary units. A microfiche is a sheet of flat film, 105 × 148 mm in size, the same size as the international standard for paper size ISO A6 . It carries

11248-578: The association's annual meeting on May 26, the Missouri Press Association voted to create the State Historical Society of Missouri, and named Stephens as its president, as well, Williams as its secretary. The Society's leaders sought to see the formal adoption of the historical society by the state. In just under a year, their lobbying efforts were awarded by the passage of a bill by the Fortieth General Assembly, signed into law on May 4, 1899, by Governor Lon Stephens , which established

11396-460: 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

11544-465: 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

11692-608: The camera. Early cut sheet microforms and microfilms (to the 1930s) were printed on nitrate film , which poses high risks to their holding institutions, as nitrate film is chemically unstable and a fire hazard. From the late 1930s to the 1980s, microfilms were usually printed on a cellulose acetate base, which is prone to tears, vinegar syndrome , and redox blemishes. Vinegar syndrome is the result of chemical decay and produces "buckling and shrinking, embrittlement, and bubbling". Redox blemishes are yellow, orange or red spots 15–150 micrometres in diameter created by oxidative attacks on

11840-499: The card. This permits automated reproduction, as well as permitting mechanical card-sorting equipment to sort and select microfilm drawings. Aperture card mounted microfilm is roughly 3% of the size and space of conventional paper or vellum engineering drawings. Some military contracts around 1980 began to specify digital storage of engineering and maintenance data because the expenses were even lower than microfilm, but these programs are now finding it difficult to purchase new readers for

11988-462: 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

12136-475: 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

12284-625: 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

12432-633: 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

12580-408: 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

12728-525: The dispatches onto paper. Additionally, the US Victory Mail , and the British "Airgraph" system it was based on, were used for delivering mail between those at home and troops serving overseas during World War II . The systems worked by photographing large amounts of censored mail reduced to thumb-nail size onto reels of microfilm, which weighed much less than the originals would have. The film reels were shipped by priority air freight to and from

12876-435: 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

13024-402: 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

13172-427: 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

13320-576: 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

13468-500: 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

13616-503: 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

13764-409: The film, and are largely due to poor storage conditions. The simplest microfilm camera that is still in use is a rail mounted structure at the top of which is a bellows camera for 105 x 148 mm film. A frame or copy board holds the original drawing vertical. The camera has a horizontal axis which passes through the center of the copy. The structure may be moved horizontally on rails. In a darkroom

13912-452: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August

14060-507: The forced removal of Missourians from western counties during the Civil War by the general order of Union general Thomas Ewing . The collection of Bingham's artwork owned by the Society represents one of the largest in the nation. The Society has an established collection by international recognized street photographer Jon Luvelli . Luvelli's fine art photography has garnered worldwide recognition for his distinguished images of rural America townscapes. A native of Como, Italy , Luvelli

14208-606: 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

14356-498: The headquarters of the State Historical Society of Missouri. It contains a vastly expanded gallery/collection display area, a library/reading room, classrooms, offices, open and closed stacks, microfilm rooms, art restoration lab, a large event room, and a gift shop. The Center for Missouri Studies is located on Elm Street on the University of Missouri campus in Downtown Columbia , across from Peace Park. The Society houses

14504-626: The history and culture of Kansas City; the WHMC collection located at the Missouri University of Science and Technology features material concerning the Ozark highland and southern Missouri; and likewise, the WHMC office in St. Louis focuses on collecting material relating to the history of St. Louis and its surrounding region. The WHMC location in Columbia, Missouri, specializes on the history of

14652-431: The home fronts, sent to their prescribed destinations for enlarging at receiving stations near the recipients, and printed out on lightweight photo paper. These facsimiles of the letter-sheets were reproduced about one-quarter the original size and the miniature mails were then delivered to the addressee. Use of these microfilm systems saved significant volumes of cargo capacity needed for war supplies. An additional benefit

14800-519: 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,

14948-527: 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

15096-563: 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

15244-414: The lens. Fixed lights illuminate the copy. These cameras are often over 4 metres (13 ft) high. These cameras accept roll film stock of 35 or 16 mm. For office documents a similar design may be used but bench standing. This is a smaller version of the camera described above. These are provided either with the choice of 16 or 35 mm film or accepting 16 mm film only. Non adjustable versions of

15392-438: The many items that the public can consult. One of the Society's most notable collections is the J. Christian Bay Collection of Western Americana. A joint collection held between the University of Missouri and the Society, the Western Historical Manuscript Collection (WHMC) is accessible at various locations throughout the state. Each of the four locations offer different historical material; the WHMC in Kansas City, specializes in

15540-521: 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 ,

15688-499: The microphotograph was reattached to a glass frame and was then projected by magic lantern on the wall. The message contained in the microfilm could then be transcribed or copied. By 28 January 1871, when Paris and the Government of National Defense surrendered, Dagron had delivered 115,000 messages to Paris by carrier pigeon. The chemist Charles-Louis Barreswil proposed the application of photographic methods with prints of

15836-414: 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

15984-433: The middle west; to acquire narratives and records of the pioneers, to procure documents, manuscripts and portraits, and to gather all information calculated to exhibit faithfully the antiquities and the past and present condition, resources and progress of this state... Newspapers formed the nucleus of the Society's collection, because of the society's close relationship with editors. Membership could be gained for such men by

16132-423: 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

16280-502: 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

16428-427: 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

16576-582: 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

16724-400: The office camera are provided. These have a rigid frame or an enveloping box that holds a camera at a fixed position over a copy board. If this is to work at more than one reduction ratio there are a choice of lenses. Some cameras expose a pattern of light, referred to as blips, to digitally identify each adjacent frame. This pattern is copied whenever the film is copied for searching. A camera

16872-796: The old formats. Microfilm first saw military use during the Franco-Prussian War of 1870–71. During the Siege of Paris , the only way for the provisional government in Tours to communicate with Paris was by pigeon post . As the pigeons could not carry paper dispatches, the Tours government turned to microfilm. Using a microphotography unit evacuated from Paris before the siege, clerks in Tours photographed paper dispatches and compressed them to microfilm, which were carried by homing pigeons into Paris and projected by magic lantern while clerks copied

17020-483: 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

17168-480: 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

17316-459: 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

17464-567: The public at the Society or via inter-library loan. The Society has at least one newspaper for each of Missouri's one hundred and fourteen counties. In 2008 the Society was chosen to participate in the National Digital Newspaper Program , a joint initiative sponsored by the Library of Congress and the National Endowment for the Humanities to digitize historically significant newspapers. Select newspapers from

17612-412: The public, the Society operates a number of programs. The Missouri History in Performance (MoHiP) is one such way. Through MoHiP, playwrights craft performances concerning moments in Missouri history, often which use the talents of folk musicians Cathy Barton and Dave Para. Often the playwrights draw upon 19th century plays, personal letters, and newspaper stories for reference. Another avenue adopted by

17760-463: The public. One of the prominent artists of the Society's collection is George Caleb Bingham. Though born in Virginia , Bingham grew up and lived in Missouri. Famed for his depictions of everyday life on the rivers flowing through and along the state, as well for his portraiture, one of his most famous works is General Order No. 11. A crown jewel of the Society's collection, the painting depicts

17908-421: The quantities involved justified getting a microfiche reader just to read COM fiche. The first COM devices date back to around 1955 and were used in scientific programming as substitutes for paper-based plotters . Then during the 1960s, business applications sought to use COM. This was part of the effort to find alternatives to paper-based reports in dealing with the information explosion . By 1969, some of

18056-484: The same time, Floyd C. Shoemaker joined the Society and began a forty-five year career with the institution. In his time, Shoemaker accomplished a number of milestones under the Society. One such accomplishment was a campaign to establish the Society's membership as the largest in the nation, with the membership expanding from 1,285 in 1916 to 3,356 in 1936. While the Great Depression did not seriously affect

18204-776: The sanction of the American Library Association at its annual meeting in 1936, when it officially endorsed microforms. In 1937 Herman H. Fussler of the University of Chicago set up an exhibition of microform at the World Congress of Universal Documentation . Harvard University Library was the first major institution to realize the potential of microfilm to preserve broadsheets printed on high-acid newsprint and it launched its "Foreign Newspaper Project" to preserve such ephemeral publications in 1938. Roll microfilm proved far more satisfactory as

18352-434: 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

18500-727: The scientific users of COM included Bell Telephone Laboratories , the MIT Lincoln Laboratory , and NASA , while some of the business users included The Equitable Life Assurance Society , Sears Roebuck & Company , and the Social Security Administration . 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

18648-500: The society had expanded its presence in Jesse Hall, storing much of its collection in its basement, while taking over the first floor of the building. By 1902, the Society had begun looking for the resources for a new facility, going so far as attempting to lobby library philanthropist Andrew Carnegie . Just over a dozen years later in 1915, the Society moved into the newly built Ellis Library, its home ever since. At approximately

18796-441: The state from prior its establishment to the present, as well as, "the trans-Mississippi West: social and cultural, religious and educational, military and political, economic and legal, business and labor, urban and rural, ethnic, environmental, and many others." The Columbia collection consists in part of diaries, letters, photographs, and other material, of Missourians ranging from farmers, bankers, and frontier pioneers. In 2011,

18944-423: The tail feather. The developments in microphotography continued through the next decades, but it was not until the turn of the century that its potential for practical usage was applied more broadly. In 1896, Canadian engineer Reginald A. Fessenden suggested microforms were a compact solution to engineers' unwieldy but frequently consulted materials. He proposed that up to 150,000,000 words could be made to fit in

19092-424: The welfare of the profession and to discuss other concerns common to all historians. The conference takes please yearly at the University of Missouri-Kansas City . [REDACTED] Media related to State Historical Society of Missouri at Wikimedia Commons 38°56′55.51″N 92°19′49.19″W  /  38.9487528°N 92.3303306°W  / 38.9487528; -92.3303306 Microfilm A microform

19240-476: 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

19388-673: 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

19536-493: 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

19684-778: 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

19832-658: 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

19980-478: 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

20128-500: 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

20276-459: Was also a space-saving measure. In his 1945 book, The Scholar and the Future of the Research Library , Fremont Rider calculated that research libraries were doubling in space every sixteen years. His suggested solution was microfilming, specifically with his invention, the microcard. Once items were put onto film, they could be removed from circulation and additional shelf space would be made available for rapidly expanding collections. The microcard

20424-474: 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

20572-426: 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

20720-411: Was in operation during the Siege of Paris (1870-1871). René Dagron photographed pages of newspapers in their entirety which he then converted into miniature photographs. He subsequently removed the collodion film from the glass base and rolled it tightly into a cylindrical shape which he then inserted into miniature tubes that were transported fastened to the tail feathers of the pigeons. Upon receipt

20868-500: 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

21016-446: 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

21164-452: Was made a part of ProQuest Information and Learning in 2001. Systems that mount microfilm images in punched cards have been widely used for archival storage of engineering information. For example, when airlines demand archival engineering drawings to support purchased equipment (in case the vendor goes out of business, for example), they normally specify punch-card-mounted microfilm with an industry-standard indexing system punched into

21312-413: Was printed to microfiche during the 1970s and distributed to customers in this form. Additionally, microfiche was used to write out long casework for some proofs such as the four color theorem . The medium has numerous characteristics: Desktop readers are boxes with a translucent screen at the front on to which is projected an image from a microform. They have suitable fittings for whatever microform

21460-463: Was raised in a Mid-Missouri farm town. His work casts an aesthetic spotlight on contemporary life in the rural routes and small-town streets of the Show-Me State. Luvelli's work also conveys social messages, never shying away from the complicated subjects of racism, poverty, sexuality, abuse, and addiction. Daniel R. Fitzpatrick is a two-time Pulitzer Prize -winning, editorial cartoonist for

21608-631: Was superseded by microfiche. By the 1960s, microfilming had become standard policy. In 1948, the Australian Joint Copying Project started; the intention to film records and archives from the United Kingdom relating to Australia and the Pacific. Over 10,000 reels were produced, making it one of the largest projects of its kind. Around the same time, Licensed Betting Offices in the UK began using microphotography as

21756-455: Was that the small, lightweight reels of microfilm were almost always transported by air, and as such were delivered much more quickly than any surface mail service could have managed. Libraries began using microfilm in the mid-20th century as a preservation strategy for deteriorating newspaper collections. Books and newspapers that were deemed in danger of decay could be preserved on film and thus access and use could be increased. Microfilming

21904-470: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that

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