The 1929 Stock Market Crash and the Great Depression
The Roaring Twenties and the Crash
In the 1920s, America exuded confidence and economic expansion. Optimism fueled speculation in the New York Stock Exchange, where stock values quadrupled in a decade. Instead of reinvesting profits into industries, many sought quick gains in the stock market. The U.S. banking system, comprised of small, dispersed banks, encouraged this dynamic by lending to brokers who, in turn, financed investors.
This system, built on mutual trust, crumbled on October 24, 1929
Read MoreSpanish Constitutions: 1873-1931
1873 Constitution Draft
Context: Federal Republic Proclamation
In 1873, Spain proclaimed the Federal Republic and drafted a corresponding constitution. Due to the ongoing Civil War, this constitution never took effect. By early 1874, the Republic fell, replaced by a provisional government. The draft constitution emphasized national sovereignty, outlined rights and liberties, established the separation of church and state, and introduced religious freedom. It also detailed the division of powers (
Read MoreAge of Exploration & Enlightenment: Revolution and Reform
Geographical Discoveries
Driven by the search for a route to India and the pursuit of raw materials, luxury goods, and precious metals, the Spanish and Portuguese spearheaded exploration along the African coast. Inventions like the astrolabe, the compass, and safer ships emboldened them to venture farther. Key events include the discovery of America in 1492, the arrival in India via the African coast in 1498, and Magellan and El Cano’s circumnavigation of the globe (1519-1522), proving the Earth’
Read More17th Century Spanish Decline & Olivares’ Centralizing Policy
Short Questions
Causes of the Spanish Decline in the 17th Century
The Spanish Crown’s decline during the 17th-century European crisis was particularly rapid, especially in Castile. The main causes include:
- Policy: The Habsburg empire’s policies were financed by Castilian resources and American precious metals. Constant wars led to tax increases in an already overburdened Castile and increased borrowing. From 1621, the flow of American silver decreased due to depleted mines and piracy, forcing the
Franco’s Regime: An Overview (1936-1975)
Introduction
The “Era of Franco” encompasses nearly four decades of Spanish history, a period of unusual consistency. This era represents a significant departure from the typical rhythm of Spanish history, marking a distinct age with lasting impacts.
General Features of the Franco Regime (1936-1975)
This period witnessed a contradiction: the same political regime that hindered progress also oversaw the economic and social modernization Spain experienced from 1960 onwards. Key features include:
- Rejection
The French Revolution and its Aftermath: A Summary
1. The French Revolution
1.1 The Causes of the Revolution
In 1789, France was in a deep economic and social crisis. The causes were:
- Poor harvests, which caused rising food prices and popular discontent.
- The bourgeoisie’s unhappiness with a system where only the privileged enjoyed high status and social recognition.
- The monarchy’s deep financial crisis caused by excessive state and court expenses.
1.2 The Beginning of the Revolution (1789)
The French Revolution began with the aristocracy’s refusal to pay
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