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Achilles. Achilles living on a geographically indefinite Island of the Blest together with other heroes such as his father Peleus and Cadmus. Well known is the connection of these mythological Fortunate Isles (μακαρῶν νῆσοι, "makárôn nêsoi") or the Homeric Elysium with the stream Oceanus which according to Greek mythology surrounds the inhabited world, which should have accounted for the identification of the northern strands of the Euxine with it. Guy Hedreen has found further evidence for this connection of Achilles with the northern margin of the inhabited world in a poem by Alcaeus, speaking of "Achilles lord of Scythia" and the | 305 | 400 |
Achilles. opposition of North and South, as evoked by Achilles' fight against the Aethiopian prince Memnon, who in his turn would be removed to his homeland by his mother Eos after his death. The "Periplus of the Euxine Sea" (c. 130 AD) gives the following details: The Greek geographer Dionysius Periegetes, who lived probably during the first century AD, wrote that the island was called "Leuce" "because the wild animals which live there are white. It is said that there, in Leuce island, reside the souls of Achilles and other heroes, and that they wander through the uninhabited valleys of this | 305 | 401 |
Achilles. island; this is how Jove rewarded the men who had distinguished themselves through their virtues, because through virtue they had acquired everlasting honour". Similarly, others relate the island's name to its white cliffs, snakes or birds dwelling there. Pausanias has been told that the island is "covered with forests and full of animals, some wild, some tame. In this island there is also Achilles' temple and his statue". Leuce had also a reputation as a place of healing. Pausanias reports that the Delphic Pythia sent a lord of Croton to be cured of a chest wound. Ammianus Marcellinus attributes the | 305 | 402 |
Achilles. healing to waters ("aquae") on the island. A number of important commercial port cities of the Greek waters were dedicated to Achilles. Herodotus, Pliny the Elder and Strabo reported on the existence of a town "Achílleion" (Ἀχίλλειον), built by settlers from Mytilene in the sixth century BC, close to the hero's presumed burial mound in the Troad. Later attestations point to an "Achílleion" in Messenia (according to Stephanus Byzantinus) and an "Achílleios" (Ἀχίλλειος) in Laconia. Nicolae Densuşianu recognized a connection to Achilles in the names of Aquileia and of the northern arm of the Danube delta, called Chilia (presumably from | 305 | 403 |
Achilles. an older "Achileii"), though his conclusion, that Leuce had sovereign rights over the Black Sea, evokes modern rather than archaic sea-law. The kings of Epirus claimed to be descended from Achilles through his son, Neoptolemus. Alexander the Great, son of the Epirote princess Olympias, could therefore also claim this descent, and in many ways strove to be like his great ancestor. He is said to have visited the tomb of Achilles at Achilleion while passing Troy. In AD 216 the Roman Emperor Caracalla, while on his way to war against Parthia, emulated Alexander by holding games around Achilles' tumulus. Section:Reception | 305 | 404 |
Achilles. during antiquity. Section:Reception during antiquity.:In Greek tragedy. The Greek tragedian Aeschylus wrote a trilogy of plays about Achilles, given the title "Achilleis" by modern scholars. The tragedies relate the deeds of Achilles during the Trojan War, including his defeat of Hector and eventual death when an arrow shot by Paris and guided by Apollo punctures his heel. Extant fragments of the "Achilleis" and other Aeschylean fragments have been assembled to produce a workable modern play. The first part of the "Achilleis" trilogy, "The Myrmidons", focused on the relationship between Achilles and chorus, who represent the Achaean army and try to | 305 | 405 |
Achilles. convince Achilles to give up his quarrel with Agamemnon; only a few lines survive today. In Plato's "Symposium", Phaedrus points out that Aeschylus portrayed Achilles as the lover and Patroclus as the beloved; Phaedrus argues that this is incorrect because Achilles, being the younger and more beautiful of the two, was the beloved, who loved his lover so much that he chose to die to revenge him. The tragedian Sophocles also wrote "The Lovers of Achilles", a play with Achilles as the main character. Only a few fragments survive. Towards the end of the 5th century BC, a more negative | 305 | 406 |
Achilles. view of Achilles emerges in Greek drama; Euripides refers to Achilles in a bitter or ironic tone in "Hecuba", "Electra", and "Iphigenia in Aulis". Section:Reception during antiquity.:In Greek philosophy. The philosopher Zeno of Elea centred one of his paradoxes on an imaginary footrace between "swift-footed" Achilles and a tortoise, by which he attempted to show that Achilles could not catch up to a tortoise with a head start, and therefore that motion and change were impossible. As a student of the monist Parmenides and a member of the Eleatic school, Zeno believed time and motion to be illusions. Section:Reception during | 305 | 407 |
Achilles. antiquity.:Achilles in Roman and medieval literature. The Romans, who traditionally traced their lineage to Troy, took a highly negative view of Achilles. Virgil refers to Achilles as a savage and a merciless butcher of men, while Horace portrays Achilles ruthlessly slaying women and children. Other writers, such as Catullus, Propertius, and Ovid, represent a second strand of disparagement, with an emphasis on Achilles' erotic career. This strand continues in Latin accounts of the Trojan War by writers such as Dictys Cretensis and Dares Phrygius and in Benoît de Sainte-Maure's "Roman de Troie" and Guido delle Colonne's "Historia destructionis Troiae", which | 305 | 408 |
Achilles. remained the most widely read and retold versions of the Matter of Troy until the 17th century. Achilles was described by the Byzantine chronicler Leo the Deacon, not as Hellene, but as Scythian, while according to the Byzantine author John Malalas, his army was made up of a tribe previously known as Myrmidons and later as Bulgars. Section:In modern literature and arts. Section:In modern literature and arts.:Literature. Section:In modern literature and arts.:Visual arts. Section:In modern literature and arts.:Music. Achilles has been frequently the subject of operas, ballets and related genres. Section:In modern literature and arts.:Film and television. In films Achilles | 305 | 409 |
Achilles. has been portrayed in the following films and television series: Section:In modern literature and arts.:Architecture. In 1890, Elisabeth of Bavaria, Empress of Austria, had a summer palace built in Corfu. The building is named the "Achilleion", after Achilles. Its paintings and statuary depict scenes from the Trojan War, with particular focus on Achilles. Section:Namesakes. Section:Further reading. Section:External links. | 305 | 410 |
Albert of Aix. Albert of Aix Albert of Aix(-la-Chapelle) or Albert of Aachen ("floruit" circa AD 1100), historian of the First Crusade, was born during the later part of the 11th century, and afterwards became canon (priest) and "custos" (guardian) of the church of Aachen. Nothing else is known of his life except that he was the author of a "Historia Hierosolymitanae expeditionis" (“History of the Expedition to Jerusalem”), or "Chronicon Hierosolymitanum de bello sacro", a work in Latin in twelve books, written between 1125 and 1150. This history begins at the time of the Council of Clermont, deals with the fortunes of | 157647 | 411 |
Albert of Aix. the First Crusade and the earlier history of the Latin Kingdom of Jerusalem, and ends somewhat abruptly in 1121. The "Historia" was well known during the Middle Ages, and was largely used by William, archbishop of Tyre, for the first six books of his "Belli sacri historia". In modern times, it was accepted unreservedly for many years by most historians, including Edward Gibbon. In more recent times, its historical value has been seriously impugned, but the verdict of the best scholarship seems to be that in general it forms a true record of the events of the First Crusade, although | 157647 | 412 |
Albert of Aix. containing some legendary matter. Albert never visited the Holy Land, but he appears to have had a considerable amount of discourse with returned crusaders, and to have had access to valuable correspondence. Unlike many other chronicles of the First Crusade, Albert did not rely on the Gesta Francorum, but used his own independent interviews; he may also have had access to the Chanson d'Antioche, as his work shares textual similarities with that poem. The first edition of the history was published at Helmstedt in 1584, and a good edition is in the "Recueil des historiens des croisades", tome iv (Paris, | 157647 | 413 |
Albert of Aix. 1841–1887). A modern edition in Latin and English translation by Susan B. Edgington is available in the Oxford Medieval Texts series. Section:References. Section:Bibliography. Section:External links. | 157647 | 414 |
Godfrey of Bouillon. Godfrey of Bouillon Godfrey of Bouillon (, , , ; 18 September 1060 – 18 July 1100) was a Frankish knight and one of the leaders of the First Crusade from 1096 until its conclusion in 1099. He was the Lord of Bouillon, from which he took his byname, from 1076 and the Duke of Lower Lorraine from 1087. After the successful siege of Jerusalem in 1099, Godfrey became the first ruler of the Kingdom of Jerusalem. He refused the title of King, however, as he believed that the true King of Jerusalem was Jesus Christ, preferring the title of | 157639 | 415 |
Godfrey of Bouillon. Advocate (i.e., protector or defender) of the Holy Sepulchre (Latin: "Advocatus Sancti Sepulchri"). He is also known as the "Baron of the Holy Sepulchre" and the "Crusader King". Section:Early life. Godfrey of Bouillon was born around 1060 as the second son of Eustace II, Count of Boulogne, and Ida, daughter of the Lotharingian duke Godfrey the Bearded by his first wife, Doda. His birthplace was probably Boulogne-sur-Mer, although one 13th-century chronicler cites Baisy, a town in what is now Walloon Brabant, Belgium. As second son, he had fewer opportunities than his older brother and seemed destined to become just one | 157639 | 416 |
Godfrey of Bouillon. more minor knight in service to a rich landed nobleman. However his maternal uncle, Godfrey the Hunchback, died childless and named his nephew, Godfrey of Bouillon, as his heir and next in line to his Duchy of Lower Lorraine. This duchy was an important one at the time, serving as a buffer between the kingdom of France and the German lands. In fact, Lower Lorraine was so important to the German kingdom and the Holy Roman Empire that Henry IV, the German king and future emperor (reigned 1084–1105), decided in 1076 that he would place it in the hands of | 157639 | 417 |
Godfrey of Bouillon. his own son and give Godfrey only Bouillon and the Margraviate of Antwerp as a test of Godfrey's abilities and loyalty. Godfrey served Henry IV loyally, supporting him even when Pope Gregory VII was battling the German king in the Investiture Controversy. Godfrey fought alongside Henry and his forces against the rival forces of Rudolf of Swabia and also took part in battles in Italy when Henry IV actually took Rome away from the pope. A major test of Godfrey’s leadership skills was shown in his battles to defend his inheritance against a significant array of enemies. In 1076 he | 157639 | 418 |
Godfrey of Bouillon. had succeeded as designated heir to the Lotharingian lands of his uncle, Godfrey the Hunchback, and Godfrey was struggling to maintain control over the lands that Henry IV had not taken away from him. Claims were raised by his aunt Margravine Matilda of Tuscany, cousin Count Albert III of Namur, and Count Theoderic of Veluwe. This coalition was joined by Bishop Theoderic of Verdun, and two minor counts attempting to share in the spoils, Waleran I of Limburg and Arnold I of Chiny. As these enemies tried to take away portions of his land, Godfrey's brothers, Eustace and Baldwin, both | 157639 | 419 |
Godfrey of Bouillon. came to his aid. Following these long struggles and proving that he was a loyal subject to Henry IV, Godfrey finally won back his duchy of Lower Lorraine in 1087. Still, Godfrey's influence in the German kingdom would have been minimal if it had not been for his major role in the First Crusade. Section:First Crusade. In 1095 Pope Urban II called for a Crusade to liberate Jerusalem from Muslim forces and also to aid the Byzantine Empire which was under Muslim attack. Godfrey took out loans on most of his lands, or sold them, to the bishop of Liège | 157639 | 420 |
Godfrey of Bouillon. and the bishop of Verdun. With this money he gathered thousands of knights to fight in the Holy Land as the Army of Godfrey of Bouillon. In this he was joined by his older brother, Eustace, and his younger brother, Baldwin, who had no lands in Europe. He was not the only major nobleman to gather such an army. Raymond IV, Count of Toulouse, also known as Raymond of Saint-Gilles, created the largest army. At age 55, Raymond was also the oldest and perhaps the best known of the Crusader nobles. Because of his age and fame, Raymond expected to | 157639 | 421 |
Godfrey of Bouillon. be the leader of the entire First Crusade. Adhemar, the papal legate and bishop of Le Puy, travelled with him. There was also the fiery Bohemond, a Norman knight from southern Italy, and a fourth group under Robert II, Count of Flanders. Each of these armies travelled separately: some went southeast across Europe through Hungary and others sailed across the Adriatic Sea from southern Italy. Pope Urban II's call for the crusade had aroused the Catholic populace and spurred antisemitism. In the People's Crusade, beginning in the spring and early summer of 1096, bands of peasants and low-ranking knights set | 157639 | 422 |
Godfrey of Bouillon. off early for Jerusalem on their own, and persecuted Jews during the Rhineland massacres. Godfrey, along with his two brothers, started in August 1096 at the head of an army from Lorraine (some say 40,000 strong) along "Charlemagne's road", as Urban II seems to have called it (according to the chronicler Robert the Monk)—the road to Jerusalem. A Hebrew text known to modern scholars as the Solomon bar Simson Chronicle, which seems to have been written more than 50 years after the events, says apparently of the Duke: | 157639 | 423 |
Clausthal-Zellerfeld. Clausthal-Zellerfeld Clausthal-Zellerfeld is a town in Lower Saxony, Germany. It is located in the southwestern part of the Harz mountains. Its population is approximately 15,000. The City is the location of the Clausthal University of Technology. The health resort is located in the Upper Harz at an altitude between 390 and 821 m above sea level. Section:Geography. Clausthal-Zellerfeld is located on the Upper Harz Plateau. The environment is less mountainous compared to most of the Harz, but only hilly. As a result, the immediate surrounding area is less wooded and there are more meadow areas. Scattered in and around Clausthal-Zellerfeld | 157636 | 424 |
Clausthal-Zellerfeld. are numerous dams and streams of the Upper Harz Water Regale. The depression between Clausthal and Zellerfeld marks a natural "borderline". Southwest extends the "Small Clausthal valley". Section:Geography.:City districts. Section:History. Clausthal-Zellerfeld originally consisted of two towns which were merged in 1924 to form an administrative unit. Clausthal is well known for the old Clausthal University of Technology and its magnificent buildings, while Zellerfeld is a typical tourist resort for hikers and winter sportsmen. Clausthal-Zellerfeld is the largest town in the area that is situated in the mountains rather than on the edge. Mining in the area began in the 16th | 157636 | 425 |
Clausthal-Zellerfeld. century. Modern wire rope was invented to service the iron mines in the 1830s by the German mining engineer Wilhelm Albert in the years between 1831 and 1834 for use in mining in the Harz Mountains in Clausthal. It was quickly accepted because it proved superior to ropes made of hemp or to metal chains, such as had been used before and soon found its way into diverse applications, including most notably, suspension bridges. The Innerste Valley Railway was inaugurated in 1877 and extended to Altenau in 1914. The large station building and 70 other buildings in the town were | 157636 | 426 |
Clausthal-Zellerfeld. destroyed in an air raid on 7 October 1944. 92 people lost their lives. Mining activity halted in 1930 because the ore deposits were exhausted. Today, there are large remains of mines in the surrounding Harz region, some of which are now museums. The railway line was closed in 1976. The former railway station, which was rebuilt from 1961-1963 after being destroyed in 1944, houses the tourist information and the municipal library today. The Clausthal University of Technology was established in 1775 for the education of mining engineers. Today, it is a technical university for teaching engineering, natural science (especially | 157636 | 427 |
Clausthal-Zellerfeld. chemistry, materials science and physics) and business studies. Section:Politics. Section:Politics.:Town council. 2006 local elections: Section:Culture and sights. Section:Culture and sights.:Museums. Section:Culture and sights.:Buildings. Section:Persons. Section:Persons.:People from Clausthal-Zellerfeld. Section:Persons.:Notable people associated with Clausthal-Zellerfeld. Section:International relations. Section:International relations.:Twin towns – Sister cities. Clausthal-Zellerfeld is twinned with: Section:External links. | 157636 | 428 |
Subhuman Race. Subhuman Race Subhuman Race (stylized sUBHUMAN rACE) is the third studio album by American heavy metal band Skid Row, released on March 28, 1995, by Atlantic Records. This is the last Skid Row album with singer Sebastian Bach and drummer Rob Affuso, and the last one to be released on Atlantic. It is regarded as the band's heaviest record, and despite receiving positive reviews, "Subhuman Race" was not as successful as the band's first two albums. Certain tracks from the album were remixed for the band's compilation "", given more tender, slightly cleaner mixes to fit better with the other | 157652 | 429 |
Subhuman Race. tracks. To promote "Subhuman Race", Skid Row supported Van Halen in North America on their "Balance" tour. Following the album, Skid Row released a live EP titled "Subhuman Beings on Tour", featuring live performances from the "Subhuman Race" tour. It is also the band's only album to be produced by Bob Rock, also known for his work with bands like Metallica, Aerosmith, Mötley Crüe, Bon Jovi and The Offspring. Skid Row has not played any songs from "Subhuman Race" since the album's tour in 1995–1996, though Bach has occasionally played them on his solo tours, including "Beat Yourself Blind", "Frozen", | 157652 | 430 |
Subhuman Race. and the singles "My Enemy", "Into Another" and "Breakin' Down". "Beat Yourself Blind" was the only song from this album to be performed live since Bach's departure, until ZP Theart performed "Medicine Jar" in 2018, while "Remains to Be Seen" has never been played live once. Section:Critical reception. "Subhuman Race" received mixed to mostly positive reviews from music critics. AllMusic's Stephen Thomas Erlewine wrote that it saw the band "strip back their music to the basics" and was their "strongest and most vicious record to date." "Rolling Stone" reviewer called it "the freshest riffage since last year's Soundgarden record" and | 157652 | 431 |
Subhuman Race. also noted the "tight, hot guitar lines and radio hooks that burn themselves into your brain". "Q" praised both the guitars that "grumble and mutter more menacingly than ever" and Bach's "awesome vocal pyrotechnics", summarizing that "Skid Row has come up with an outright winner." Canadian journalist Martin Popoff found the album quite complex, with Skid Row "absorbing the best elements of grunge into their over-the-top love of all things metal." He praised Bach's performance and the band's "street-savvy" attitude and "prog ethic" shown in the record. Conversely, Jim Farber of "Entertainment Weekly" considered "Subhuman Race" made of "the same | 157652 | 432 |
Subhuman Race. squealing, yowling, third-rate metal that made Skid Row pariahs in the first place", calling them an "unrepentant hair band of the ’80s" which had mangled their melodies "to get over their old 'power ballad' stigma." Also Dean Golemis of the "Chicago Tribune" criticised Skid Row's "campy, formulaic arrangements that still cater to commercial appeal and offer nothing new to a genre plagued by cliches and copycats", but remarked as "Bach's vocal bravura stands as the album's saving grace." Thomas Kupfer in his review for the German "Rock Hard" magazine wrote that "Skid Row will offend a lot of old fans | 157652 | 433 |
Subhuman Race. with this disc", where "mediocrity dominates, the songs seem uninspired, and only the compact sound and the solid craftsmanship of the band members" save the album. The band members also do not reflect positively on their work on "Subhuman Race". In an interview in November 2006, bassist Rachel Bolan expressed his negative feelings about the album: "That record was a nightmare. Internally the band had fallen apart but we were forced to go in and do another record and it was a nightmare with the recording, writing and producing. We worked with someone we had not worked with before after | 157652 | 434 |
Subhuman Race. being so successful with Michael and we were used to the way he did things. I am not slighting Bob at all, he is a genius producer but it was bad timing. I did not have the greatest time, it was nobody's fault, it was just the way things were. Also the record absolutely sucks." In a June 2018 interview on the "Rock Talk With Mitch Lafon" podcast, vocalist Sebastian Bach indicated that, despite featuring "some good tunes", the "very dated production sound" of "Subhuman Race" has made it an unlistenable album: "In the same way, probably, Lars Ulrich might | 157652 | 435 |
Subhuman Race. think "St. Anger" is dated to that time, I think "Subhuman Race" might be our "St. Anger"." Section:Personnel. Section:Personnel.:Skid Row. Section:Personnel.:Production. | 157652 | 436 |
Thomas John Barnardo. Thomas John Barnardo Thomas John Barnardo (4 July 184519 September 1905) was an Irish philanthropist and founder and director of homes for poor children. From the foundation of the first Barnardo's home in 1867 to the date of Barnardo's death, nearly 60,000 children had been taken in. Although Barnardo never finished his studies at the London Hospital, he used the title of ‘doctor’ and later secured a licentiate. Section:Early life. Barnardo was born in Dublin, Ireland, in 1845. He was the fourth of five children (one died in childbirth) of John Michaelis Barnardo, a furrier who was of Sephardic Jewish | 157641 | 437 |
Thomas John Barnardo. descent, and his second wife, Abigail, an Englishwoman and member of the Plymouth Brethren. In the early 1840s, John emigrated from Hamburg to Dublin, where he established a business; he married twice and fathered seven children. The Barnardo family "traced its origin to Venice, followed by conversion to the Lutheran Church in the sixteenth century". As a young child, Barnardo thought that everything that was not his should belong to him. However, as he grew older, he abandoned this mindset in favour of helping the poor. Barnardo moved to London in 1866. At that time he was interested in becoming | 157641 | 438 |
Thomas John Barnardo. a missionary. Section:Philanthropy. In the 1860s, Barnardo opened a school in the East End of London to care for and educate children of the area left orphaned and destitute by a recent cholera outbreak. In 1870 he founded a boys' orphanage at 18 Stepney Causeway and later opened a girls' home. By the time of his death in 1905, Barnardo's institutions cared for over 8,500 children in 96 locations. Barnardo's work was carried on by his many supporters under the name "Dr Barnardo's Homes". Following societal changes in the mid-20th century, the charity changed its focus from the direct care | 157641 | 439 |
Thomas John Barnardo. of children to fostering and adoption, renaming itself "Dr Barnardo's". Following the closure of its last traditional orphanage in 1989, it took the still simpler name of "Barnardo's". Section:Philanthropy.:Controversies. There was controversy early on with Barnardo's work. Specifically, he was accused of kidnapping children without parents' permission and of falsifying photographs of children to make the distinction between the period before they were rescued by Barnardo's and afterwards seem more dramatic. He openly confessed to the former of these charges, describing it as 'philanthropic abduction' and basing his defence on the idea that the end justified the means. In all, | 157641 | 440 |
Thomas John Barnardo. he was taken to court on 88 occasions, largely on the charge of kidnapping. However, being a charismatic speaker and popular figure, he rode through these scandals unscathed. Other charges brought against him included presenting staged images of children for Barnardo's 'before and after' cards and neglecting basic hygiene for the children under his care. Barnardo's was implicated in the scandal of forced child migration], in which children from poor social backgrounds were taken to the former colonies (Australia, Canada, New Zealand, South Africa) by churches and charities, without their parents' consent and even under false claims of death. Although | 157641 | 441 |
Thomas John Barnardo. this was a legal scheme, favoured by Government and society, in many cases the children suffered harsh life conditions and many also suffered abuse. This practice went on until the 70's. This merited an apology by PM Gordon Brown in 2010. Section:Philanthropy.:The charity today. The official mascot of Barnardo's is a bear called Barney. H.M. Queen Elizabeth II is the current patron of Barnardo's. Its chief executive is Javed Khan. Section:Personal life. Section:Personal life.:Marriage and family. In June 1873, Barnardo married Sara Louise Elmslie (1842–1944), known as Syrie, the daughter of an underwriter for Lloyd's of London. Syrie shared her | 157641 | 442 |
Thomas John Barnardo. husband's interests in evangelism and social work. The couple settled at Mossford Lodge, Essex, where they had seven children, three of whom died in early childhood. Another child, Marjorie, had Down syndrome. Another daughter, Gwendolyn Maud Syrie (1879–1955), known as Syrie like her mother, was married to wealthy businessman Henry Wellcome, and later to the writer Somerset Maugham, and became a socially prominent London interior designer. Section:Personal life.:Death. Barnardo died of angina pectoris in London on 19 September 1905, and was buried in front of Cairns House, Barkingside, Essex. The house is now the head office of the children's charity | 157641 | 443 |
Thomas John Barnardo. he founded, Barnardo's. A memorial stands outside Cairn's House. Section:Personal life.:Legacy. After Barnardo's death, a national memorial was instituted to form a fund of £250,000 to relieve the various institutions of all financial liability and to place the entire work on a permanent basis. William Baker, formerly the chairman of the council, was selected to succeed the founder of the homes as Honorary Director.Thomas Barnardo was the author of 192 books dealing with the charitable work to which he devoted his life. From the foundation of the homes in 1867 to the date of Barnardo's death, nearly 60,000 children had | 157641 | 444 |
Thomas John Barnardo. been taken-in, most being trained and placed out in life. At the time of his death, his charity was caring for over 8,500 children in 96 homes. Section:Personal life.:Not a Jack the Ripper suspect. At the time of the Whitechapel murders, due to the supposed medical expertise of the Ripper, various doctors in the area were suspected. Barnardo was named a possible suspect long after his death. Ripperologist Gary Rowlands theorized that due to Barnardo's lonely childhood he had anger which led him to murder prostitutes. However, there is no evidence that he committed the murders. Critics have also pointed | 157641 | 445 |
Thomas John Barnardo. out that his age and appearance did not match any of the descriptions of the Ripper. Section:See also. Section:References. Section:External links. | 157641 | 446 |
Battle of Magenta. Battle of Magenta The Battle of Magenta was fought on 4 June 1859 during the Second Italian War of Independence, resulting in a French-Sardinian victory under Napoleon III against the Austrians under Marshal Ferencz Gyulai. It took place near the town of Magenta in the Kingdom of Lombardy–Venetia, a crown land of the Austrian Empire on 4 June 1859. Napoleon III's army crossed the Ticino River and outflanked the Austrian right forcing the Austrian army under Gyulai to retreat. The confined nature of the country, a vast spread of orchards cut up by streams and irrigation canals, precluded elaborate manoeuvre. | 157656 | 447 |
Battle of Magenta. The Austrians turned every house into a miniature fortress. The brunt of the fighting was borne by 5,000 grenadiers of the French Imperial Guard, still mostly in their First Empire style of uniforms. The battle of Magenta was not a particularly large battle, but it was a decisive victory for the Franco-Sardinian alliance. Patrice Maurice de MacMahon was created Duke of Magenta for his role in this battle, and would later go on to serve as one of the French President of the Third French Republic. An overwhelming majority of the French-Piedmontese coalition soldiers were French (1,100 were Piedmontese and | 157656 | 448 |
Battle of Magenta. 58,000 were French). Section:Aftermath. A dye producing the colour magenta was discovered in 1859, and was named after this battle, as was the Boulevard de Magenta in Paris. | 157656 | 449 |
Guibert of Nogent. Guibert of Nogent Guibert de Nogent (c. 1055–1124) was a Benedictine historian, theologian and author of autobiographical memoirs. Guibert was relatively unknown in his own time, going virtually unmentioned by his contemporaries. He has only recently caught the attention of scholars who have been more interested in his extensive autobiographical memoirs and personality which provide insight into medieval life. Section:Life. Guibert was born of parents from the minor nobility at Clermont-en-Beauvaisis. Guibert claims that it took his parents over seven years to conceive, as he writes in his "Monodiae". According to his memoirs, the labour nearly cost him and his | 157654 | 450 |
Guibert of Nogent. mother their lives, as Guibert turned around in the womb. Guibert's family made an offering to a shrine of the Virgin Mary, and promised that if Guibert survived, he would be dedicated to a clerical life. Since he survived, he followed this path. His father was violent, unfaithful and prone to excess, and was captured at the Battle of Mortemer, dying eight months later. In his memoirs, Guibert views his death as a type of blessing, stating that if his father had survived, he likely would have forced Guibert to become a knight, thus breaking the oath to the Virgin | 157654 | 451 |
Guibert of Nogent. Mary to dedicate Guibert to the church. His mother was domineering, of great beauty and intelligence, and exceedingly zealous. Guibert writes so much about his mother, and in such detail, that some scholars, such as Archambault, have suggested that he may have had an Oedipus complex. She assumed control of his education, isolated him from his peers and hired him a private tutor, from the ages of six to twelve. Guibert remembers the tutor as brutally exacting, and incompetent; nevertheless Guibert and his tutor developed a strong bond. When Guibert was around the age of twelve, his mother retired to | 157654 | 452 |
Guibert of Nogent. an abbey near Saint-Germer-de-Fly (or Flay), and he soon followed. Entering the Order at St. Germer, he studied with great zeal, devoting himself at first to the secular poets Ovid and Virgil—an experience which left its imprint on his works. He later changed his focus to theology, through the influence of Anselm of Bec, who later became the Archbishop of Canterbury. In 1104, he was chosen abbot of the poor and tiny abbey of Nogent-sous-Coucy (founded 1059) and henceforth took a more prominent part in ecclesiastical affairs, where he came into contact with bishops and court society. More importantly, it | 157654 | 453 |
Guibert of Nogent. gave him time to engage in his passion for writing. His first major work of this period is his history of the First Crusade called "Dei gesta per Francos" ("God's deeds through the Franks"), finished in 1108 and touched up in 1121. The history is largely a paraphrase, in ornate style, of the "Gesta Francorum" of an anonymous Norman author; Crusade historians have traditionally not given it favourable reviews; the fact that he stays so close to "Gesta Francorum", and the difficulty of his Latin, make it seem superfluous. Recent editors and translators, however, have called attention to his excellent | 157654 | 454 |
Guibert of Nogent. writing and original material. More importantly, the "Dei gesta" supplies us with invaluable information about the reception of the crusade in France. Guibert personally knew crusaders, had grown up with crusaders, and talked with them about their memories and experiences. For the modern reader, his autobiography ("De vita sua sive monodiarum suarum libri tres"), or "Monodiae" ("Solitary Songs", commonly referred to as his "Memoirs"), written in 1115, is considered the most interesting of his works. Written towards the close of his life, and based on the model of the "Confessions" of Saint Augustine, he traces his life from his childhood | 157654 | 455 |
Guibert of Nogent. to adulthood. Throughout, he gives picturesque glimpses of his time and the customs of his country. The text is divided into three "Books." The first covers his own life, from birth to adulthood; the second is a brief history of his monastery; the third is a description of an uprising in nearby Laon. He provides invaluable information on daily life in castles and monasteries, on the educational methods then in vogue, and gives insights into some of the major and minor personalities of his time. His work is coloured by his passions and prejudices, which add a personal touch to | 157654 | 456 |
Guibert of Nogent. the work. For example, he was quite sceptical about the propriety of Catholic relics of Jesus Christ, the Virgin Mary and numerous Catholic saints, and entertained doubts about their authenticity, noting that some shrines and pilgrimage sites made conflicting claims about which bodily remnants, clothing or other sacred objects were held at which site. Section:References. | 157654 | 457 |
Raymond of Poitiers. Raymond of Poitiers Raymond of Poitiers (c. 1099- 29 June 1149) was Prince of Antioch from 1136 to 1149. He was the younger son of William IX, Duke of Aquitaine and his wife Philippa, Countess of Toulouse, born in the very year that his father the Duke began his infamous liaison with Dangereuse de Chatelherault. Section:Assuming control. Following the death of Prince Bohemund II of Antioch in 1130, the principality came under the regency first of King Baldwin II (1130–31), then King Fulk (1131–35), and finally Princess Alice (1135–36), Bohemond's widow. The reigning princess was Bohemond II's daughter, Constance (born | 157660 | 458 |
Raymond of Poitiers. 1127). Against the wishes of Alice, a marriage was arranged for Constance with Raymond, at the time staying in England, which he left only after the death of Henry I on 1 December 1135. Upon hearing word that Raymond was going to pass through his lands in order to marry the princess of Antioch, King Roger II of Sicily ordered him arrested. By a series of subterfuges, Raymond passed through southern Italy and only arrived at Antioch after 19 April 1136. Patriarch Ralph of Domfront then convinced Alice that Raymond was there to marry her, whereupon she allowed him to | 157660 | 459 |
Raymond of Poitiers. enter Antioch (whose loyal garrison had refused him entry) and the patriarch married him to Constance. Alice then left the city, now under the control of Raymond and Ralph. The first years of their joint rule were spent in conflicts with the Byzantine Emperor John II Comnenus, who had come south partly to recover Cilicia from Leo of Armenia, and to reassert his rights over Antioch. Raymond was forced to pay homage, and even to promise to cede his principality as soon as he was recompensed by a new fief, which John promised to carve out for him in the | 157660 | 460 |
Raymond of Poitiers. Muslim territory to the east of Antioch. The expedition of 1138, in which Raymond joined with John, and which was to conquer this territory, proved a failure. The expedition culminated in the unsuccessful Siege of Shaizar. Raymond was not anxious to help the emperor to acquire new territories, when their acquisition only meant for him the loss of Antioch. John Comnenus returned unsuccessful to Constantinople, after demanding from Raymond, without response, the surrender of the citadel of Antioch. Section:Struggles. There followed a struggle between Raymond and the patriarch. Raymond was annoyed by the homage which he had been forced to | 157660 | 461 |
Raymond of Poitiers. pay to the patriarch in 1135 and the dubious validity of the patriarch's election offered a handle for opposition. Eventually Raymond triumphed, and the patriarch was deposed (1139). In 1142 John Comnenus returned to the attack, but Raymond refused to recognize or renew his previous submission, and John, though he ravaged the neighborhood of Antioch, was unable to effect anything against him. When, however Raymond demanded from Manuel, who had succeeded John in 1143, the cession of some of the Cilician towns, he found that he had met his match. Manuel forced him to a humiliating visit to Constantinople, during | 157660 | 462 |
Raymond of Poitiers. which he renewed his oath of homage and promised to acknowledge a Greek patriarch. In the last year of Raymond's life Louis VII and his wife Eleanor of Aquitaine (Raymond's niece) visited Antioch during the Second Crusade. Raymond sought to prevent Louis from going south to Jerusalem and to induce him to stay in Antioch and help in the conquest of Aleppo and Caesarea. Raymond was also suspected of having an incestuous affair with his beautiful niece Eleanor. According to John of Salisbury, Louis became suspicious of the attention Raymond lavished on Eleanor, and the long conversations they enjoyed. William | 157660 | 463 |
Raymond of Poitiers. of Tyre claims that Raymond seduced Eleanor to get revenge on her husband, who refused to aid him in his wars against the Saracens, and that ""contrary to [Eleanor's] royal dignity, she disregarded her marriage vows and was unfaithful to her husband."" Most modern historians dismiss such rumours, however, pointing out the closeness of Raymond and his niece during her early childhood, and the effulgent Aquitainian manner of behaviour. Also, as the pious Louis continued to have relations with his wife, it is doubtful that he believed his charge of incest. Louis hastily left Antioch and Raymond was balked in | 157660 | 464 |
Raymond of Poitiers. his plans. In 1149 he was killed in the Battle of Inab during an expedition against Nur ad-Din Zangi. He was beheaded by Shirkuh, the uncle of Saladin, and his head was placed in a silver box and sent to the Caliph of Baghdad as a gift. Section:Personality and family. Raymond is described by William of Tyre (the main authority for his career) as ""a lord of noble descent, of tall and elegant figure, the handsomest of the princes of the earth, a man of charming affability and conversation, open-handed and magnificent beyond measure""; pre-eminent in the use of arms | 157660 | 465 |
Raymond of Poitiers. and military experience; "litteratorum, licet ipse esset, cultor" ("although he was himself illiterate, he was a cultivator of literature" – he caused the "Chanson des chétifs" to be composed); a regular churchman and faithful husband; but headstrong, irascible and unreasonable, with too great a passion for gambling (bk. xiv. c. xxi.). For his career see Rey, in the "Revue de l'orient latin", vol. iv. With Constance he had the following children: | 157660 | 466 |
Wall Street Crash of 1929. Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Stock Market Crash of 1929 or the Great Crash, was a major stock market crash that occurred in late October 1929. It started on October 24 ("Black Thursday") and continued until October 29, 1929 ("Black Tuesday"), when share prices on the New York Stock Exchange collapsed. It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects. The crash, which followed the London Stock Exchange's crash of September, | 157649 | 467 |
Wall Street Crash of 1929. signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries. Section:Background. The Roaring Twenties, the decade that followed World War I that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with the hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector. While American cities prospered, the overproduction of agricultural produce created widespread financial despair among American farmers throughout the decade. This would later be blamed as one of the key factors | 157649 | 468 |
Wall Street Crash of 1929. that led to the 1929 stock market crash. Despite the dangers of speculation, it was widely believed that the stock market would continue to rise forever. On March 25, 1929, after the Federal Reserve warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days later, banker Charles E. Mitchell announced that his company, the National City Bank, would provide $25 million in credit to stop the market's slide. Mitchell's move brought a temporary halt to the financial crisis, and call money declined from 20 to | 157649 | 469 |
Wall Street Crash of 1929. 8 percent. However, the American economy showed ominous signs of trouble: steel production declined, construction was sluggish, automobile sales went down, and consumers were building up high debts because of easy credit. Despite all the economic trouble signs and the market breaks in March and May 1929, stocks resumed their advance in June and the gains continued almost unabated until early September 1929 (the Dow Jones average gained more than 20% between June and September). The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at 381.17 on September 3, | 157649 | 470 |
Wall Street Crash of 1929. 1929. Shortly before the crash, economist Irving Fisher famously proclaimed, "Stock prices have reached what looks like a permanently high plateau." The optimism and the financial gains of the great bull market were shaken after a well-publicized early September prediction from financial expert Roger Babson that "a crash was coming". The initial September decline was thus called the "Babson Break" in the press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction" and buying opportunity. On September 20, the London | 157649 | 471 |
Wall Street Crash of 1929. Stock Exchange crashed when top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery. The London crash greatly weakened the optimism of American investment in markets overseas. In the days leading up to the crash, the market was severely unstable. Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery. Section:Crash. Selling intensified in mid-October. On October 24 ("Black Thursday"), the market lost 11 percent of its value at the opening bell on very heavy trading. The huge volume meant that the report of prices on the ticker | 157649 | 472 |
Wall Street Crash of 1929. tape in brokerage offices around the nation was hours late and so investors had no idea what most stocks were actually trading for at the moment, increasing panic. Several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor. The meeting included Thomas W. Lamont, acting head of Morgan Bank; Albert Wiggin, head of the Chase National Bank; and Charles E. Mitchell, president of the National City Bank of New York. They chose Richard Whitney, vice president of the Exchange, to act on their behalf. With the bankers' financial resources behind him, | 157649 | 473 |
Wall Street Crash of 1929. Whitney placed a bid to purchase a large block of shares in U.S. Steel at a price well above the current market. As traders watched, Whitney then placed similar bids on other "blue chip" stocks. The tactic was similar to one that had ended the Panic of 1907. It succeeded in halting the slide. The Dow Jones Industrial Average recovered, closing with it down only 6.38 points for the day. The rally continued on Friday, October 25, and the half-day session on Saturday, October 26, but unlike 1907, the respite was only temporary. Over the weekend, the events were covered | 157649 | 474 |
Wall Street Crash of 1929. by the newspapers across the United States. On October 28, "Black Monday", more investors facing margin calls decided to get out of the market, and the slide continued with a record loss in the Dow for the day of 38.33 points, or 13%. The next day, "Black Tuesday", October 29, 1929, about 16 million shares traded as the panic selling reached its peak. Some stocks actually had no buyers at any price that day. The Dow lost an additional 30 points, or 12 percent. The volume of stocks traded that day was a record that would not be broken for | 157649 | 475 |
Wall Street Crash of 1929. nearly 40 years. On October 29, William C. Durant joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks to demonstrate to the public their confidence in the market, but their efforts failed to stop the large decline in prices. The massive volume of stocks traded that day made the ticker continue to run until about 7:45 p.m. The market had lost over $30 billion in the space of two days, including $14 billion on October 29 alone. After a one-day recovery on October 30, when the Dow regained an additional 28.40 points, | 157649 | 476 |
Wall Street Crash of 1929. or 12 percent, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with the Dow closing at 198.60. The market then recovered for several months, starting on November 14, with the Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak (bear market rally) of 294.07 on April 17, 1930. The following year, the Dow embarked on another, much longer, steady slide from April 1931 to July 8, 1932, when it closed at 41.22, its lowest level of the 20th century, concluding an 89 percent loss rate | 157649 | 477 |
Wall Street Crash of 1929. for all of the market's stocks. For the rest of the 1930s, beginning on March 15, 1933, the Dow began to slowly regain the ground it had lost during the 1929 crash and the three years following it. The largest percentage increases of the Dow Jones occurred during the early and mid-1930s. In late 1937, there was a sharp dip in the stock market, but prices held well above the 1932 lows. The market would not return to the peak closing of September 3, 1929, until November 23, 1954. Section:Aftermath. In 1932, the Pecora Commission was established by the U.S. | 157649 | 478 |
Wall Street Crash of 1929. Senate to study the causes of the crash. The following year, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks, which take deposits and extend loans, and investment banks, which underwrite, issue, and distribute stocks, bonds, and other securities. After the experience of the 1929 crash, stock markets around the world instituted measures to suspend trading in the event of rapid declines, claiming that the measures would prevent such panic sales. However, the one-day crash of Black Monday, October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, was worse in percentage terms than any | 157649 | 479 |
Wall Street Crash of 1929. single day of the 1929 crash (although the combined 25% decline of October 28–29, 1929 was larger than that of October 19, 1987, and remains the worst two-day decline ever). Section:Aftermath.:World War II. 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. World War II had a dramatic effect on many parts of the economy, and may have hastened the end of the Great Depression in the United States. Government-financed capital spending accounted for only 5 percent of the annual U.S. investment | 157649 | 480 |
Wall Street Crash of 1929. in industrial capital in 1940; by 1943, the government accounted for 67 percent of U.S. capital investment. Section:Analysis. The crash followed a speculative boom that had taken hold in the late 1920s. During the latter half of the 1920s, steel production, building construction, retail turnover, automobiles registered, and even railway receipts advanced from record to record. The combined net profits of 536 manufacturing and trading companies showed an increase, in the first six months of 1929, of 36.6% over 1928, itself a record half-year. Iron and steel led the way with doubled gains. Such figures set up a crescendo of | 157649 | 481 |
Wall Street Crash of 1929. stock-exchange speculation that led hundreds of thousands of Americans to invest heavily in the stock market. A significant number of them were borrowing money to buy more stocks. By August 1929, brokers were routinely lending small investors more than two-thirds of the face value of the stocks they were buying. Over $8.5 billion was out on loan, more than the entire amount of currency circulating in the U.S. at the time. The rising share prices encouraged more people to invest, hoping the share prices would rise further. Speculation thus fueled further rises and created an economic bubble. Because of margin | 157649 | 482 |
Wall Street Crash of 1929. buying, investors stood to lose large sums of money if the market turned down—or even failed to advance quickly enough. The average P/E (price to earnings) ratio of S&P Composite stocks was 32.6 in September 1929, clearly above historical norms. According to economist John Kenneth Galbraith, this exuberance also resulted in a large number of people placing their savings and money in leverage investment products like Goldman Sachs' "Blue Ridge trust" and "Shenandoah trust". These too crashed in 1929, resulting in losses to banks of $475 billion 2010 dollars ($ billion in ). Good harvests had built up a mass | 157649 | 483 |
Wall Street Crash of 1929. of 250 million bushels of wheat to be "carried over" when 1929 opened. By May there was also a winter-wheat crop of 560 million bushels ready for harvest in the Mississippi Valley. This oversupply caused a drop in wheat prices so heavy that the net incomes of the farming population from wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets , and the slump in Wall Street predicted for May by Sir George Paish arrived on time. In June 1929, the position was saved by a severe drought in the Dakotas and | 157649 | 484 |
Wall Street Crash of 1929. the Canadian West, plus unfavorable seed times in Argentina and eastern Australia. The oversupply would now be wanted to fill the big gaps in the 1929 world wheat production. From 97¢ per bushel in May, the price of wheat rose to $1.49 in July. When it was seen that at this figure American farmers would get rather more for their smaller crop than for that of 1928, stocks went up again. In August, the wheat price fell when France and Italy were bragging of a magnificent harvest, and the situation in Australia improved. That sent a shiver through Wall Street | 157649 | 485 |
Wall Street Crash of 1929. and stock prices quickly dropped, but word of cheap stocks brought a fresh rush of "stags", amateur speculators and investors. Congress voted for a $100 million relief package for the farmers, hoping to stabilize wheat prices. By October though, the price had fallen to $1.31 per bushel. Other important economic barometers were also slowing or even falling by mid-1929, including car sales, house sales, and steel production. The falling commodity and industrial production may have dented even American self-confidence, and the stock market peaked on September 3 at 381.17 just after Labor Day, then started to falter after Roger Babson | 157649 | 486 |
Wall Street Crash of 1929. issued his prescient "market crash" forecast. By the end of September, the market was down 10% from the peak (the "Babson Break"). Selling intensified in early and mid October, with sharp down days punctuated by a few up days. Panic selling on huge volume started the week of October 21 and intensified and culminated on October 24, the 28th, and especially the 29th ("Black Tuesday"). The president of the Chase National Bank, Albert H. Wiggin, said at the time: We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged. It was inevitable, | 157649 | 487 |
Wall Street Crash of 1929. because of the tremendous increase in the number of stockholders in recent years, that the number of sellers would be greater than ever when the boom ended and selling took the place of buying." Section:Effects. Section:Effects.:United States. Together, the 1929 stock market crash and the Great Depression formed the largest financial crisis of the 20th century. The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. The falls in share prices on October 24 and 29, 1929 were practically instantaneous in all financial markets, except Japan. | 157649 | 488 |
Wall Street Crash of 1929. The Wall Street Crash had a major impact on the U.S. and world economy, and it has been the source of intense academic historical, economic, and political debate from its aftermath until the present day. Some people believed that abuses by utility holding companies contributed to the Wall Street Crash of 1929 and the Depression that followed. Many people blamed the crash on commercial banks that were too eager to put deposits at risk on the stock market. In 1930, 1,352 banks held more than $853 million in deposits; in 1931, one year later, 2,294 banks went down with nearly | 157649 | 489 |
Wall Street Crash of 1929. $1.7 billion in deposits. Many businesses failed (28,285 failures and a daily rate of 133 in 1931). The 1929 crash brought the Roaring Twenties to a halt. As tentatively expressed by economic historian Charles P. Kindleberger, in 1929, there was no lender of last resort effectively present, which, if it had existed and been properly exercised, would have been key in shortening the business slowdown that normally follows financial crises. The crash instigated widespread and long-lasting consequences for the United States. Historians still debate whether the 1929 crash sparked the Great Depression or if it merely coincided with the bursting | 157649 | 490 |
Wall Street Crash of 1929. of a loose credit-inspired economic bubble. Only 16% of American households were invested in the stock market within the United States during the period leading up to this depression, suggesting that the crash carried somewhat less of a weight in causing it. However, the psychological effects of the crash reverberated across the nation as businesses became aware of the difficulties in securing capital market investments for new projects and expansions. Business uncertainty naturally affects job security for employees, and as the American worker (the consumer) faced uncertainty with regards to income, naturally the propensity to consume declined. The decline in | 157649 | 491 |
Wall Street Crash of 1929. stock prices caused bankruptcies and severe macroeconomic difficulties, including contraction of credit, business closures, firing of workers, bank failures, decline of the money supply, and other economically depressing events. The resultant rise of mass unemployment is seen as a result of the crash, although the crash is by no means the sole event that contributed to the depression. The Wall Street Crash is usually seen as having the greatest impact on the events that followed and therefore is widely regarded as signaling the downward economic slide that initiated the Great Depression. True or not, the consequences were dire for almost | 157649 | 492 |
Wall Street Crash of 1929. everybody. Most academic experts agree on one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying. The failure set off a worldwide run on US gold deposits (i.e. the dollar), and forced the Federal Reserve to raise interest rates into the slump. Some 4,000 banks and other lenders ultimately failed. Also, the uptick rule, which allowed short selling only when the last tick in a stock's price was positive, was implemented after the 1929 market crash to prevent short sellers from driving the price of a stock down | 157649 | 493 |
Wall Street Crash of 1929. in a bear raid. Section:Effects.:Europe. The stock market crash of October 1929 led directly to the Great Depression in Europe. When stocks plummeted on the New York Stock Exchange, the world noticed immediately. Although financial leaders in the United Kingdom, as in the United States, vastly underestimated the extent of the crisis that would ensue, it soon became clear that the world's economies were more interconnected than ever. The effects of the disruption to the global system of financing, trade, and production and the subsequent meltdown of the American economy were soon felt throughout Europe. In 1930 and 1931, in | 157649 | 494 |
Wall Street Crash of 1929. particular, unemployed workers went on strike, demonstrated in public, and otherwise took direct action to call public attention to their plight. Within the UK, protests often focused on the so-called Means Test, which the government had instituted in 1931 to limit the amount of unemployment payments made to individuals and families. For working people, the Means Test seemed an intrusive and insensitive way to deal with the chronic and relentless deprivation caused by the economic crisis. The strikes were met forcefully, with police breaking up protests, arresting demonstrators, and charging them with crimes related to the violation of public order. | 157649 | 495 |
Wall Street Crash of 1929. Section:Academic debate. There is ongoing debate among economists and historians as to what role the crash played in subsequent economic, social, and political events. "The Economist" argued in a 1998 article that the Depression did not start with the stock market crash, nor was it clear at the time of the crash that a depression was starting. They asked, "Can a very serious Stock Exchange collapse produce a serious setback to industry when industrial production is for the most part in a healthy and balanced condition?" They argued that there must be some setback, but there was not yet sufficient | 157649 | 496 |
Wall Street Crash of 1929. evidence to prove that it would be long or would necessarily produce a general industrial depression. However, "The Economist" also cautioned that some bank failures were also to be expected and some banks may not have had any reserves left for financing commercial and industrial enterprises. It concluded that the position of the banks was the key to the situation, but what was going to happen could not have been foreseen. Some academics view the Wall Street Crash of 1929 as part of a historical process that was a part of the new theories of boom and bust. According to | 157649 | 497 |
Wall Street Crash of 1929. economists such as Joseph Schumpeter, Nikolai Kondratiev and Charles E. Mitchell, the crash was merely a historical event in the continuing process known as economic cycles. The impact of the crash was merely to increase the speed at which the cycle proceeded to its next level. Milton Friedman's "A Monetary History of the United States", co-written with Anna Schwartz, advances the argument that what made the "great contraction" so severe was not the downturn in the business cycle, protectionism, or the 1929 stock market crash in themselves but the collapse of the banking system during three waves of panics from | 157649 | 498 |
Wall Street Crash of 1929. 1930 to 1933. Section:See also. Section:Further reading. Section:External links. | 157649 | 499 |