The Great Depression was a severe worldwide economic depression that took place during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations, it was the longest and most widespread depression of the 20th century. In the 21st century, the Great Depression is used as an example of how intensely the world's economy can decline; the Great Depression started in the United States after a major fall in stock prices that began around September 4, 1929, became worldwide news with the stock market crash of October 29, 1929. Between 1929 and 1932, worldwide gross domestic product fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession; some economies started to recover by the mid-1930s. However, in many countries the negative effects of the Great Depression lasted until the beginning of World War II; the Great Depression had devastating effects in countries both poor. Personal income, tax revenue and prices dropped, while international trade plunged by more than 50%.
Unemployment in the U. S. rose to 25% and in some countries rose as high as 33%. Cities around the world were hit hard those dependent on heavy industry. Construction was halted in many countries. Farming communities and rural areas suffered as crop prices fell by about 60%. Facing plummeting demand with few alternative sources of jobs, areas dependent on primary sector industries such as mining and logging suffered the most. Economic historians attribute the start of the Great Depression to the sudden devastating collapse of U. S. stock market prices on October 29, 1929, known as Black Tuesday. However, some dispute this conclusion and see the stock crash as a symptom, rather than a cause, of the Great Depression. After the Wall Street Crash of 1929 optimism persisted for some time. John D. Rockefeller said "These are days. In the 93 years of my life, depressions have gone. Prosperity has always returned and will again." The stock market turned upward in early 1930. This was still 30% below the peak of September 1929.
Together and business spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, many of whom had suffered severe losses in the stock market the previous year, cut back their expenditures by 10%. In addition, beginning in the mid-1930s, a severe drought ravaged the agricultural heartland of the U. S. By mid-1930, interest rates had dropped to low levels, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment were depressed. By May 1930, automobile sales had declined to below the levels of 1928. Prices in general began to decline, although wages held steady in 1930. A deflationary spiral started in 1931. Farmers faced a worse outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance; the decline in the U. S. economy was the factor. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.
S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By 1933, the economic decline had pushed world trade to one-third of its level just four years earlier. Change in economic indicators 1929–32 The two classical competing theories of the Great Depression are the Keynesian and the monetarist explanation. There are various heterodox theories that downplay or reject 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 more goods, exacerbating the drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply exacerbated the economic situation, causing a recession to descend into the Great Depression.
Economists and economic historians are evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of the Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending investment, is the primary explanation for the onset of the Great Depression. Today the controversy is of lesser importance since there is mainstream 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 is consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse. If they had done this, the economic downturn would have been much shorter. British economist John Maynard Keynes argued in The General Theory of Employment and Money that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment, well below the average.
In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment. Keynes' basic idea was simple
Dealul Spirii is a hill in Bucharest, upon which the Palace of the Parliament is now located. A vineyard known as Dealul Lupeștilor, the hill was rebaptised after a doctor Spiridon Kristofi, who founded in 1765 the fortified Spirea Veche church. On the hill were found the ruins of Curtea Nouă, the princely residence, built in 1776 by Alexander Ypsilantis, Prince of Wallachia, to replace Curtea Veche, it was built together with a large wine cellar, still in use during the 1900s. Curtea Nouă was the official residence of the Phanariotes until 1812, when it burnt down — it was since known as Curtea Arsă, the ruins being razed in 1986. In July 1818, Dealul Spirii saw the rising of a hot air balloon, an event witnessed by Prince John Caradja. On 13 September 1848, the closing battle of the 1848 Wallachian Revolution was fought on the hill, involving the Ottoman troops sent to quell the rebels and the Firemen division of Bucharest, led by Pavel Zăgănescu; the hill was the site of the Arsenal, which gave Dealul Spirii its alternate name, Dealul Arsenalului.
Located on this hill was Stadionul Republicii, an Art deco stadium inaugurated in 1928 as the "ANEF Stadium" and used by the Progresul football team, now known as FC Naţional. The stadium was covered up during the construction of the House of the People; as of 2006, the remnants of the stadium are being converted into an underground parking lot. After World War I, the hill gave its name to a famous trial that involved the members of the Romanian Communist Party, after a bomb was detonated on 8 December 1920 in the Romanian Senate, detonated by Max Goldstein, a communist sympathizer. Around the hill was located the Uranus quarter, named after the main thoroughfare, which ran up the hill from Calea Rahovei to the Stadium, thence to Splaiul Independenţei and Izvor; this was one of the historic districts destroyed by Nicolae Ceauşescu's communist regime, in order to build the House of the People. It had been the site of many historic buildings, including a number of synagogues; when the hill was razed for the building, under it was found a mass grave.
Further research showed. Șerban Cantacuzino, "Două Orașe Distincte", Revista Secolul XX, 4/6, pp. 11–40 Constantin C. Giurescu, Istoria Bucureștilor. Din cele mai vechi timpuri pînă în Ed. Pentru Literatură, Bucharest, 1966 Ştefan Tăbăraş, "Bucureşti, subliminale", in Revista 22, 22 March 2006 Ionel Zănescu, "Tăvălug", in Jurnalul Naţional, 8 January 2007 Uranus Hill: Images Uranus-Izvor district
Grivitsa is a village in Pleven Municipality, Pleven Province, central northern Bulgaria. It is known as the site of one of the key engagements in the Siege of Plevna during the Russo-Turkish War of 1877–1878. Located 9 kilometres east of Pleven at an average 208 metres above sea level and lying in the hilly basin of the Vit River, Grivitsa has a population of 1,778 as of December 2009; the railway line connecting Sofia to Varna and Rousse runs through the village, as well as the main road from Pleven to Rousse and Pordim. The highest point of the Central Danubian Plain, the 304-metre-high Sredni vrah is just to the east of the village; the soil is suitable for agriculture. The area is rich in limestone and quarries for its extraction have been built in several places; the village's location has shifted several times, with the earliest known settlement being in the Ezero area to the south of modern Grivitsa, identified with the time after the Ottoman conquest of Bulgaria. The plague forced the locals to move to the present location.
The legend surrounding the image's name asserts that the area between Trastenik and Slavyanovo, including Grivitsa, was the feud of an Ottoman noble known as Trastenik Pasha, an avid dove- and bee-keeper. He is thought to have built a dove-cot and an apiary in the Rogultsi area near today's Grivitsa, bred wood pigeons; the locals came to be known as grivatsi and the village as Grivitsa. During the Russo-Turkish War of 1877–1878, Grivitsa was the location of an important Ottoman position featuring several redoubts and acting as part of the defensive fortifications of Pleven; the Battle of Grivitsa was part of the prolonged Siege of Plevna which resulted in the death of many Russian and Romanian soldiers: the losses of the Romanian units in this battle were the largest for the entire war. Grivitsa has a school built in 1916, as well as a park arranged in 1956 and a museum opened in 1967, both commemorating the events of 1877. A Romanian mausoleum with an ossuary was built in 1892–1897 using funds collected by the Romanian people and opened in 1902.
In honour of the battle, several communes and neighbourhoods in Romania, as well as the Romanian NMS Grivița, bear the name Grivița, a Romanian rendition of the village's name. This article is based on a translation of the article "Гривица" from the Bulgarian Wikipedia
Giulești is a neighbourhood in northwestern Bucharest, in Sector 6. The Giulești Stadium, Giulești Theatre, Podul Grant are located in Giulești; the Grivița Railway Yards and Lacul Morii are located nearby. The area was inhabited for millennia and it gives its name to the neolithic Giulești-Boian culture, the middle phase of the Boian culture, which inhabited in the 4th millennium BC Muntenia and expanded into southern Moldavia and southern Transylvania. In the Middle Ages it was a village incorporated into Chiajna Commune, absorbed into Bucharest in 1939. In the early 1960s a number of 4 storey apartment buildings were raised in the era named as the Constructorilor housing estate. A few years on the Giulesti avenue in the mid 1960s 8 storey apartment buildings were raised, along with the Prunaru market next to the stadium, it wasn't until the 1980s when mass demolition commenced, replacing old houses with standardised apartment blocks. Nowadays only a few houses remain standing as the neighborhood is dominated by these apartment buildings.
The Giulesti Stadium is the home of one of the best teams in Romania. Giulești Stadium Giulești Theatre Podul Grant Grivița Railway Yards Lacul Morii
In the context of the history of the 20th century, the interwar period was the period between the end of the First World War in November 1918 and the beginning of the Second World War in September 1939. Despite the short period of time, this period represented an era of significant changes worldwide. Petroleum and associated mechanisation expanded leading to the Roaring Twenties, a period of economic prosperity and growth for the middle class in North America and many other parts of the world. Automobiles, electric lighting, radio broadcasts and more became commonplace among populations in the developed world; the indulgences of this era subsequently were followed by the Great Depression, an unprecedented worldwide economic downturn which damaged many of the world's largest economies. Politically, this era coincided with the rise of communism, starting in Russia with the October Revolution and Russian Civil War, at the end of World War I, ended with the rise of fascism in Germany and in Italy.
China was in the midst of long period of instability and civil war between the Kuomintang and the Communist Party of China. The Empires of Britain and others faced challenges as imperialism was viewed negatively in Europe, independence movements in British India, French Indochina and other regions gained momentum; the Ottoman, Austro-Hungarian and German empires were dismantled, while the Ottoman and German colonies were redistributed among the Allies, chiefly the United Kingdom and France. The western parts of the Russian Empire, Finland, Latvia and Poland became independent nations in their own right, while Bessarabia chose to reunify with Romania; the Russian communists managed to regain control of the other East Slavic states, Central Asia, the Caucasus, forming the Soviet Union. Ireland was partitioned between the independent Irish Free State and the British-controlled Northern Ireland. In the Middle East and Iraq gained independence. During the Great Depression, Latin American countries nationalised many foreign companies in a bid to strengthen their own economies.
The territorial ambitions of the Soviets, Japan and Germany led to the expansion of their empires, setting the stage for the subsequent World War. The Interwar Period is accepted to have ended in September 1939, with the invasion of Poland and the beginning of World War II. However, in Asia, it is considered to have ended with the Marco Polo Bridge Incident and the beginning of the Second Sino-Japanese War. Following the Armistice of Compiègne on November 11th, 1918 that ended World War I, the years 1918–24 were marked by turmoil as the Russian Civil War continued to rage on, Eastern Europe struggled to recover from the devastation of the First World War and the destabilising effects of not just the collapse of the Russian Empire, but the destruction of the German Empire, the Austro-Hungarian Empire, the Ottoman Empire, as well. There were numerous new nations in Eastern Europe, some small in size, such as Lithuania or Latvia, some large and vast, such as Poland and Yugoslavia; the United States gained dominance in world finance.
Thus, when Germany could no longer afford war reparations to Britain and other former members of the Entente, the Americans came up with the Dawes Plan and Wall Street invested in Germany, which repaid its reparations to nations that, in turn, used the dollars to pay off their war debts to Washington. By the middle of the decade, prosperity was widespread, with the second half of the decade known as the Roaring Twenties; the important stages of interwar diplomacy and international relations included resolutions of wartime issues, such as reparations owed by Germany and boundaries. Disarmament was a popular public policy. However, the League of Nations played little role in this effort, with the United States and Britain taking the lead. U. S. Secretary of State Charles Evans Hughes sponsored the Washington Naval Conference of 1921 in determining how many capital ships each major country was allowed; the new allocations were followed and there were no naval races in the 1920s. Britain played a leading role in the 1927 Geneva Naval Conference and the 1930 London Conference that led to the London Naval Treaty, which added cruisers and submarines to the list of ship allocations.
However the refusal of Japan, Germany and the USSR to go along with this led to the meaningless Second London Naval Treaty of 1936. Naval disarmament had collapsed and the issue became rearmi
Colentina is a neighborhood in Bucharest's 2nd district located on the north-east of the city, named after the nearby Colentina River. A local folk etymology says that the name is derived from "colea-n-tină", this being the answer given by a spătar to Matei Basarab, who asked the former where he had defeated the Ottoman army; until the second half of the 18th century, the area of today's Colentina was forested, as it was on the map of Stolnic Constantin Cantacuzino. Archeologists found traces of small settlements in Colentina, dated from the 6th-7th century; the village of Colentina located near the Plumbuita Monastery was first mentioned on the map of H. C. Schütz of 1780 and on I. F. Schmidt's 1788 map. An Austrian map of 1791 shows the village as being located at the crossroad of the routes leading to Fundeni, Afumați, Ștefănești, Pipera with the high road bound for Bucharest; the earliest houses were built at the crossroad and around the Cârstienești Bridge across the Colentina river, close to the gate of the monastery.
Soon after, the Plumbuita Monastery, which owned the land in Colentina built and rented grocer's shops, inns, as well as agricultural land. In early 19th century, among the renters was the Paharnic Andronache Teohari, whose name was given to the Andronache estate in Northern Colentina, the name being still in use today; the houses were built along the road towards Bucharest, while the houses on the island of the monastery were still spread out. Due to this, in 1837, the ocârmuitor of the Ilfov County asked the hegumen of the monastery to plots for the peasants on the domains to build their houses according to a plan; the people who settled in Colentina were a heterogenous mix: some were Romanians from across Wallachia, others were Greeks, Bulgarians or Serbs. During the 1821 revolts that preceded the Greek War of Independence, Alexander Ypsilantis and the Filiki Eteria, coming from Moldavia settled on the field on the Bucharest-ward bank of Colentina; the same place was used for the consecration of the flags of the first national militia in 1830 and the place where the first soldiers of the National Army took their oath of allegiance in 1834.
After this, for a long time, the same field was used for military exercises. The 1863 law on the secularization of monastery estates in Romania made the Colentina estate property of the state and in March 1864, the rural commune of Colentina-Fundeni was created, which had three component villages: Plumbuita and Fundeni, it was around this time. Toward the end of the 19th century, Colentina continued to keep its agricultural economy, much of the land being owned by the large landowners, while the inhabitants owned only a sixth of the agricultural land; the commune had six abattoirs, three in Colentina and three in Plumbuita, killing around 12000 cows each year, the meat being sold in Bucharest and to the 26 pubs and 5 inns that Colentina had at the time. In the 1890s, the village of Colentina had a population of 254, the village of Plumbuita 288 and the village of Fundeni 279; the 1899 Romanian Census shows that three more villages were created in the commune: Andronache and Boldu, on the northern part of the former Plumbuita estate, while the Tei village was created around the Ghica Palace, the commune having a population of 1048, of which 46 foreign citizens, most of which Transylvanian refugees.
In 1939, together with Pipera, Plumbuita and Fundeni were made part of Bucharest. The neighborhood suffered a lot of modifications in the mid 1970s and 1980s when houses were replaced with 8 to 10 storey apartment blocks, like in Tei and Calea Mosilor and has been the home of Arab and Chinese immigrants to Romania. Alecsandru Dinca Nicolae Ghinea, "Așezări sătești din sec. XV-XIX pe teritoriul orașului București", in București - Materiale de istorie și muzeografie, VII, 1969. Constantin C. Firescul vieții sale, Istoria Bucureştilor. Din cele mai vechi timpuri pînă în zilele noastre, Bucharest, 1966
Sector 1 (Bucharest)
Sector 1 is an administrative unit of Bucharest located in the northern part of the city. It contains the northwestern districts of Băneasa and Pipera. Sector 1 is thought to be the wealthiest sector in Bucharest. Blue Air, JeTran Air and Medallion Air have their head offices in Sector 1. Aviatorilor Aviației Băneasa Bucureștii Noi Dămăroaia Domenii Dorobanți Gara de Nord Grivița Floreasca Pajura Pipera Primăverii Romană Victoriei The mayor of the sector is Daniel Tudorache from the Social Democratic Party, he was elected in 2016 for a four-year term. The Local Council of Sector 1 has 27 seats, with the following party composition: Sector 1