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
Free Speech Movement
The Free Speech Movement was a massive, long-lasting student protest which took place during the 1964–65 academic year on the campus of the University of California, Berkeley. The Movement was informally under the central leadership of Berkeley graduate student Mario Savio. Other student leaders include Jack Weinberg, Michael Rossman, George Barton, Brian Turner, Bettina Aptheker, Steve Weissman, Michael Teal, Art Goldberg, Jackie Goldberg, others. With the participation of thousands of students, the Free Speech Movement was the first mass act of civil disobedience on an American college campus in the 1960s. Students insisted that the university administration lift the ban of on-campus political activities and acknowledge the students' right to free speech and academic freedom; the Free Speech Movement was influenced by the New Left, was related to the Civil Rights Movement and the Anti-Vietnam War Movement. To this day, the Movement's legacy continues to shape American political dialogue both on college campuses and in broader society, impacting on the political views and values of college students and the general public.
In 1958, activist students organized SLATE, a campus political party meaning a "slate" of candidates running on the same level – a same "slate." The students created SLATE to promote the right of student groups to support off-campus issues. In the fall of 1964, student activists, some of whom had traveled with the Freedom Riders and worked to register African American voters in Mississippi in the Freedom Summer project, set up information tables on campus and were soliciting donations for causes connected to the Civil Rights Movement. According to existing rules at the time, fundraising for political parties was limited to the Democratic and Republican school clubs. There was a mandatory "loyalty oath" required of faculty, which had led to dismissals and ongoing controversy over academic freedom. Sol Stern, a former radical who took part in the Free Speech Movement, stated in a 2014 City Journal article that the group viewed the United States to be both racist and imperialistic and that the main intent after lifting Berkeley's loyalty oath was to build on the legacy of C Wright Mills and weaken the Cold War consensus by promoting the ideas of the Cuban Revolution.
On September 14, 1964, Dean Katherine Towle announced that existing University regulations prohibiting advocacy of political causes or candidates, outside political speakers, recruitment of members, fundraising by student organizations at the intersection of Bancroft and Telegraph Avenues would be "strictly enforced." On October 1, 1964, former graduate student Jack Weinberg was sitting at the CORE table. He was arrested. There was a spontaneous movement of students to surround the police car in which he was to be transported; the police car remained there for all while Weinberg was inside it. At one point, there may have been 3,000 students around the car; the car was used as a speaker's podium and a continuous public discussion was held which continued until the charges against Weinberg were dropped. On December 2, between 1,500 and 4,000 students went into Sproul Hall as a last resort in order to re-open negotiations with the administration on the subject of restrictions on political speech and action on campus.
Among other grievances was the fact that four of their leaders were being singled out for punishment. The demonstration was orderly. Joan Baez was there to lead in the singing, as well as lend moral support. "Freedom classes" were held by teaching assistants on one floor, a special Channukah service took place in the main lobby. On the steps of Sproul Hall, Mario Savio gave a famous speech:... But we're a bunch of raw materials. Don't mean to be made into any product! Don't mean — Don't mean to end up being bought by some clients of the University, be they the government, be they industry, be they organized labor, be they anyone! We're human beings!... There's a time when the operation of the machine becomes so odious — makes you so sick at heart — that you can't take part. You can't passively take part, and you've got to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus, you've got to make it stop. And you've got to indicate to the people who run it, to the people who own it, that unless you're free, the machine will be prevented from working at all.
At midnight, Alameda County deputy district attorney Edwin Meese III telephoned Governor Edmund Brown Sr. asking for authority to proceed with a mass arrest. Shortly after 2 a.m. on December 4, 1964, police cordoned off the building, at 3:30 a.m. began the arrest. Close to 800 students were arrested, most of which were transported by bus to Santa Rita Jail in Dublin, about 25 miles away, they were released on their own recognizance after a few hours behind bars. About a month the university brought charges against the students who organized the sit-in, resulting in an larger student protest that all but shut down the university. After much disturbance, the University officials backed down. By January 3, 1965, the new acting chancellor, Martin Meyerson, established provisional rules for political activity on the Berkeley campus, he designated the Sproul Hall steps an open discussion area during certain hours of the day and permitting tables. This applied to the entire student political spectrum, not just the liberal elements that drove the Free Speech Movement.
Most outsiders, identified the Free Speech Movement as a movement of the Left. Students and others opposed to U. S. foreign policy did ind
Clark Kerr was an American professor of economics and academic administrator. He was the first chancellor of the University of California and twelfth president of the University of California. Kerr was born in Stony Creek, Pennsylvania to Samuel William and Caroline Kerr, earned his A. B. from Swarthmore College in 1932, an M. A. from Stanford University in 1933, a Ph. D. in economics from UC Berkeley in 1939. In 1945, he became an associate professor of industrial relations and was the founding director of the UC Berkeley Institute of Industrial Relations. Soon after the beginning of the Second Red Scare, in 1949, the Regents of the University of California adopted an anti-communist loyalty oath to be signed by all University of California employees. Kerr fought against the firing of those who refused to sign. Kerr gained respect from his stance and was named UC Berkeley's first chancellor when that position was created in 1952; as chancellor, Kerr oversaw the construction of 12 high-rise dormitories.
In September, 1953, President Dwight D. Eisenhower appointed him to the Commission on Intergovernmental Relations. In October 1957, Kerr was the Regents' unanimous choice to lead the entire university system. Raymond B. Allen had been expected to succeed Robert Gordon Sproul as systemwide president, but Allen's tenure as UCLA's first chancellor was marred by athletics scandals, poor campus planning, the perception among the southern Regents that he had not put up enough resistance—especially in comparison to Kerr—to Sproul's stubborn refusal to delegate anything to the campus chancellors. Therefore, when Sproul announced his retirement in 1957, Allen was passed over in favor of Kerr. Kerr's term as UC president saw the opening of campuses in San Diego and Santa Cruz to accommodate the influx of baby boomers. Faced with a dramatic increase of students entering college, Kerr helped establish the now much-copied California system of having the handful of University of California campuses act as'top tier' research institutions, the more numerous California State University campuses handle the bulk of undergraduate students and the numerous California Community College campuses provide vocational and transfer-oriented college programs to the remainder.
A Mother Jones article mentioned that Kerr's achievements in this field earned him international acclaim. In 1959, Kerr along with Chancellor Glenn T. Seaborg helped found the Berkeley Space Sciences Laboratory. Controversy exploded in 1964 when Berkeley students led the Free Speech Movement in protest of regulations limiting political activities on campus, including Civil Rights advocacy and protests against the Vietnam War, it culminated in hundreds of arrested students at a sit-in. Kerr's initial decision was to not expel University of California students that participated in sit-ins off campus; that decision evolved into reluctance to expel students who would protest on campus in a series of escalating events on the Berkeley campus in late 1964. Kerr was criticized both by students for not agreeing to their demands and by conservative UC Regent Edwin Pauley and others for responding too leniently to the student unrest. In 2002, the FBI released documents used to blacklist Kerr as part of a government campaign to suppress subversive viewpoints at the University.
This information had been classified by the FBI and was only released after a fifteen-year legal battle that the FBI appealed up to the Supreme Court, but agreed to settle before the Supreme Court decided on hearing the matter. President Lyndon Johnson had picked Kerr to become Secretary of Health and Welfare but withdrew the nomination after the FBI background check on Kerr included damaging information the agency knew to be false. Edwin Pauley approached CIA Director John McCone for assistance. McCone in turn met with FBI Director J. Edgar Hoover. Hoover agreed to supply Pauley with confidential FBI information on "ultra-liberal" regents, faculty members, students, to assist in removing Kerr. Pauley received dozens of briefings from the FBI to this end; the FBI assisted Pauley and Ronald Reagan in painting Kerr as a dangerous "liberal." Kerr's perceived leniency was key in Reagan's election as Governor of California in 1966 and in Kerr's dismissal as president in 1967. Shortly thereafter, Kerr's old friend Thomas M. Storke insisted that Kerr should be allowed to participate, as scheduled, in the dedication of a building on the Santa Barbara campus in Storke's honor.
At the dedication ceremony Kerr stated that he had left the presidency of the university just as he had entered it: "fired with enthusiasm."Kerr's second memoir, The Gold and the Blue: A Personal Memoir of the University of California, 1949-1967 Volume Two: Political Turmoil details what he refers to as his greatest blunders in dealing with the Free Speech Movement that led to his firing. Following his dismissal, Kerr served on the Carnegie Commission on Higher Education until 1973 and was chairman of the Carnegie Council on Policy Studies in Higher Education from 1974 to 1979. Kerr served as Chair of the 1984 USPS National Agreement Arbitration Panel, after which he joined the USPS panel of national contract arbitrators. Kerr was married to Catherine "Kay" Spaulding on Christmas Day, 1934. Kay along with friends founded the Save San Francisco Bay Association in 1961, which became Save the Bay; the couple had three children. He died in his sleep on December 1, 2003 in El Cerrito, following complications from a fall.
There are Kerr Halls on the campuses of U. C. Davis, U. C. Santa Barbara, U. C. Santa Cruz, U. C. Berkeley. A large student resi
McCarthyism is the practice of making accusations of subversion or treason without proper regard for evidence. The term refers to U. S. senator Joseph McCarthy and has its origins in the period in the United States known as the Second Red Scare, lasting from the late 1940s through the 1950s. It was characterized by heightened political repression and a campaign spreading fear of Communist influence on American institutions and of espionage by Soviet agents. What would become known as the McCarthy era began before McCarthy's term in 1953. Following the First Red Scare, in 1947, President Truman signed an executive order to screen federal employees for association with organizations deemed "Totalitarian, Communist, or subversive", or advocating "to alter the form of Government of the United States by unconstitutional means." In 1949, a high-level State Department official was convicted of perjury in a case of espionage, the Soviet Union tested an atomic bomb. The Korean War started the next year.
In a speech in February 1950, Senator McCarthy presented an alleged list of members of the Communist Party working in the State Department, which attracted press attention. The term "McCarthyism" was published for the first time in late March of that year in the Christian Science Monitor, in a political cartoon by Herblock in the Washington Post; the term has since taken on a broader meaning. In the early 21st century, the term is used more to describe reckless, unsubstantiated accusations, demagogic attacks on the character or patriotism of political adversaries. During the McCarthy era, hundreds of Americans were accused of being Communists or Communist sympathizers; the primary targets of such suspicions were government employees, those in the entertainment industry and labor-union activists. Suspicions were given credence despite inconclusive or questionable evidence, the level of threat posed by a person's real or supposed leftist associations or beliefs were sometimes exaggerated. Many people suffered loss of destruction of their careers.
Most of these punishments came about through trial verdicts that were overturned, laws that were declared unconstitutional, dismissals for reasons declared illegal or actionable, or extra-legal procedures, such as informal blacklists, that would come into general disrepute. The most notable examples of McCarthyism include the so-called investigations conducted by Senator McCarthy, the hearings conducted by the House Un-American Activities Committee. President Harry S. Truman's Executive Order 9835 of March 21, 1947, required that all federal civil-service employees be screened for "loyalty"; the order said that one basis for determining disloyalty would be a finding of "membership in, affiliation with or sympathetic association" with any organization determined by the attorney general to be "totalitarian, Communist or subversive" or advocating or approving the forceful denial of constitutional rights to other persons or seeking "to alter the form of Government of the United States by unconstitutional means."The historical period that came to be known as the McCarthy era began well before Joseph McCarthy's own involvement in it.
Many factors contributed to McCarthyism, some of them with roots in the First Red Scare, inspired by Communism's emergence as a recognized political force and widespread social disruption in the United States related to unionizing and anarchist activities. Owing in part to its success in organizing labor unions and its early opposition to fascism, offering an alternative to the ills of capitalism during the Great Depression, the Communist Party of the United States increased its membership through the 1930s, reaching a peak of about 75,000 members in 1940–41. While the United States was engaged in World War II and allied with the Soviet Union, the issue of anti-communism was muted. With the end of World War II, the Cold War began immediately, as the Soviet Union installed Communist puppet régimes in areas it had occupied across Central and Eastern Europe; the United States backed anti-communist forces in China. Although the Igor Gouzenko and Elizabeth Bentley affairs had raised the issue of Soviet espionage in 1945, events in 1949 and 1950 increased the sense of threat in the United States related to Communism.
The Soviet Union tested an atomic bomb in 1949, earlier than many analysts had expected, raising the stakes in the Cold War. That same year, Mao Zedong's Communist army gained control of mainland China despite heavy American financial support of the opposing Kuomintang. Many U. S. policy people did not understand the situation in China, despite the efforts of China experts to explain conditions. In 1950, the Korean War began, pitting U. S. U. N. and South Korean forces against Communists from North China. During the following year, evidence of increased sophistication in Soviet Cold War espionage activities was found in the West. In January 1950, Alger Hiss, a high-level State Department official, was convicted of perjury. Hiss was in effect found guilty of espionage. In Britain, Klaus Fuchs confessed to committing espionage on behalf of the Soviet Union while working on the Manhattan Project at Los Alamos National Laboratory during the War. Julius and Ethel Rosenberg were arrested in 1950 in the United States on charges of stealing atomic-bo
Henry Durant was the founding president of the University of California. Durant attended the Andover Theological Seminary in Andover, Massachusetts. In 1833 he was ordained pastor of the Congregational church of Massachusetts. In the same year, he married Mary E. Buffett of Connecticut. After serving in the ministry for 16 years, he resigned his pastorate and became headmaster of the Dummer Academy in Byfield, he held that position from 1849 to 1852. In 1853, Durant came to California and founded the Contra Costa Academy, as a private school for boys. In 1855, the school was chartered as the College of California; the college disincorporated and merged with the state of California's Agricultural and Mechanical Arts College to create the University of California in 1868. Durant was elected the first president of the University of California on August 16, 1870 and resigned only two years in order to relinquish the position to a younger man. In 1873, the University of California moved to its new Berkeley campus.
Old age did not keep Durant from being elected the 16th mayor of Oakland, although he only served for three years before dying in office, on January 22, 1875. Hotel Durant Biography at UC Berkeley
Benjamin Ide Wheeler
Benjamin Ide Wheeler was a professor of Greek and comparative philology at Cornell University and President of the University of California from 1899 to 1919. Benjamin Ide Wheeler was born in Randolph, Massachusetts, on July 15, 1854, the son of the Rev. Benjamin and Mary Eliza Wheeler, his father was successively a church pastor in New Hampshire. His mother, Mary Eliza Ide, was born in Pawtucket, Rhode Island, daughter of Ebenezer Ide of the Ide family which had its origin in South Attleborough Rehoboth, their only son, Benjamin Ide Wheeler, had his education first in the public schools of Haverhill and Saco, Maine. It was at Saco that he first entered a high school in 1866; this high school was the institution, called Thornton Academy, subsequently resumed that name. On moving in 1868 to Franklin, New Hampshire, he entered the Franklin Academy, after six months there, went to the New London Academy, subsequently Colby–Sawyer College. From this school he was duly graduated in the summer of 1871.
In the following autumn he entered Brown University from which he was graduated in 1875. His studies at college followed the usual curriculum without any suggestion of specialization. On the commencement stage he had the honour of the classical oration. During his college course he received the Dunn premium, given for the best work of the year in the department of English, with special reference to writing and speaking, one of the Carpenter prizes given to the two students of the year who in the opinion of the faculty combined in the highest degree the elements of success in life. After graduation, Wheeler taught for four years in the Providence High School. During the first two years, he instructed in mathematics. In 1879, he was appointed Tutor in Brown University to take the place, during a temporary absence of two years, of Professor Poland, Assistant Professor in Greek and Latin. On June 25, 1881, Wheeler married Amey Webb of Rhode Island, she was the daughter of a banker of Providence. Her mother, Amey Gorham Webb, was the daughter of Jabez Gorham founder of Gorham Silver, that became Gorham Silver Manufacturing Company after his son John Gorham took over.
For four years, 1881–85, Wheeler studied in German universities—for a year at Leipzig for two years at Heidelberg, a half year at Jena, a half year at Berlin. In the spring of 1885, he received on examination at Heidelberg the degree of Doctor of Philosophy, summa cum laude, presenting a thesis under Hermann Osthoff entitled Der griechische Nominalaccent, afterwards published at Strassburg as a separate book; the thesis led to what is known as the law of dactylic retraction or "Wheelers Law". Joseph Wright, future Corpus Christi Professor of Comparative Philology at Oxford, completed his PhD the same year as Wheeler and writing his thesis under Osthoff. On returning to America he was for one year Instructor at Harvard, 1885–86 for thirteen years Professor at Cornell University, holding at first the title Acting Professor of Classical Philology, 1886–87 of Professor of Comparative Philology 1887-88, from 1888 to 1899 that of Professor of Greek and Comparative Philology. In 1899, he became President of the University of California.
During the year 1895-96, he was Professor of Greek Literature at the American School of Classical Studies in Athens, during the year 1909-10, Roosevelt Professor at the University of Berlin. He was member of the American Oriental Society, the American Philological Association, the Kaiserliches Archaeologisches Institut, he received the degree of Doctor of Laws from nine different universities, Princeton, 1896. During the 1906 San Francisco earthquake and fire he was a member of Mayor Eugene Schmitz's Committee of Fifty. During World War I his "well-known German sympathies and admiration for the kaiser" brought suspicion upon him and he retired as President of the University of California after the armistice. Wheeler had nominated the kaiser for the Nobel Peace Prize. Under Wheeler the University of California underwent one of its periods of greatest growth, he expanded the powers of the president, gaining the power to appoint all faculty. The University of California, Berkeley named Wheeler Hall in his honor.
The Liberty ship SS Benjamin Ide Wheeler was named in his honor. The Benjamin Ide Wheeler Medal was created in 1929. Founding member of the Commonwealth Club of California in 1903. Since 1929, the award has been given to members of the community of Berkeley for exhibited outstanding contributions. Since 1994, the Berkeley Community Fund has been granting "Berkeley's Most Useful Citizen" award; until 1991, it was bi-annual but changed to annual in 1994. Several notable people have received the award: Wheeler authored Analogy in Language. A commencement address at the University of Michigan titled The old world in the new, an address delivered at the commencement exercises of the University of Michigan, June 30, 1898, was published in the August 1898 issue of The Atlantic and Art in Language was published in the December 1900 iss