United States

Introduction

Banks are financial institutions that act as payment agents for customers in addition to borrowing and lending money.  In some countries, banks are the primary owners of industrial corporations while in others they are prohibited. Banks  act as payment agents by  conducting check or current accounts  for customers ,paying cheques and collecting deposited cheques. Banks provide various  payment services, and a bank account is considered indispensable by most individuals and governments. Banks have adverse effects on the economy and its various sectors.  The banks failure are seen as more serious that any other type of business firm failure.

The seriousness given to banking institution is due to the consequences its failure may cause to other banks.  When a bank fails, both solvent and insolvent banks are also affected.  The adverse effects of failure by the banks demand public attention.  Bank failures even in the current world continue to be a major public policy concern.  This concern is seen in all countries all over the world.  This also explains why banks are regulated more vigorously then other firms. A failed bank is said to be the one whose operations are suspended due to it’s financial difficulties  by the supervising banking authorities( Benton E.G.1998.)

Discussion

Bank failures have their various causes one of them  being  failure  due to  the tight financial interconnection that banks develop between each other.  The interconnections  may result to the contagion effect(http://www.cato.org/pubs/journal/cj16n1-2html ).Contagion in banking is more serious than in  any other industry due to various factors .They include ;it  occurs faster, it spreads more widely within the industry, result in large numbers of failures, result to large losses to creditors and  its spread  beyond the banking industry These interconnections are encouraged by the banks continuous lending to and from each other and the need to pay other banks.

Established interconnections promote their dependence on each other.  When one bank fails the shocks at one bank which they are interconnected with.  The success of the banks that are interconnected with each other becomes dependent on the success of the others.  Failure in one of the banks spreads the problem to other banks making them experience the failure.

Dishonesty and illegal banking practices contribute greatly to failure in the banks.  Example of dishonest practices include fraud. Fraud can be defined as the intent to deceive or an attempt to conceal. Illegal activities promote misuse of bank funds by the involved people. For example, the largest bank failures in United States  was due to illegal banking practices. The USNB bank failure was due to fraud and internal irregularities while the HNB bank failure  due to illegal channels of risky real estate loans (Lynne.P.D.1975).

Lack of inexperienced workers is more likely to cause failure than  when  workers are skilled and experienced. Banks develop their management practices in a manner that seals any chance of funds misappropriation. The human labour in the banks is advocated to the honest and loyal to the bank and its activities. Workers  who lack experience may fail to perform their duties  properly  within the shortest time limit bank workers are expected to work efficiently to minimize any losses that may arise. Lack of skills may result to performance  bank  that   can make the bank system prone to opportunities for illegal activities.

Though bank’s management have attempted to have the best management practices that address fraud cases, illegal activities are still identified to take place in the banks in the present world, (http://www.cato.org/pubs/journal/cj16n1-2html) . Banks manage huge amounts of capital and public money.  Embezzlement of the funds reduces the financial ability of the concerned bonus.  Serious cases of fraud have led to the bankruptcy of some banks in the world over.

Violation of banking laws encourage illegal banking practices. Every country in the world has a banking Act that guides the banking laws.  The laws stipulate what the laws mean and even penalties for those who defy these laws. The laws assist banking institutions to carry out their activities in the most acceptable way for the good of the bank, the country and the public.  The bank undertakings promote maximization of profits while at the same time offering assistance to the clients or customers who may need financial assistance in one way or another.  Violation of these laws result to very great loss to the bank.  The bank may consequently fail to sustain itself and sooner or later close down.

Dishonesty of the bank officials which is also  that involve obvious mistakes  can make a bank fail in delivering its services as required.  Bank officials work for the banks and provide their services for the success of the bank.  However, sometimes bank officials get engaged in activities that channel the bank funds to other sources illegally.  Bank officials may either work together or even with outside forces to embezzle funds. The bank workers are very familiar with the bank’s activities and systems hence are  conversant with the systems; they can easily manipulate the systems to enable them direct funds to the wrong people.  External forces may also use bank officials to steal funds from banks. This is because they can be able to influence workers who have easy accessibility to bank systems that can be  manipulated. Whether small or huge amounts, bank officials who are dishonest and disloyal may promote bank failure through loss of huge amounts of capital.

Failure of the banks to enforce repayment of loans poses a great risk to the collapse of banks. Where banks become unable to collect loans, loss of funds may be a possible risk. Consequently ,later poor asset quality  erodes a bank’s capital. Loans are normally lend to individuals or groups of people to cater for their immediate needs or business plans.  Loans are issued out and have to be repaid within a given time limit.  Banks are involved in huge amounts of money lending as loans, especially to large or growing organizations or companies.  The greatest motivation in lending loans is the profits banks get from interest on the money lend out.

However, in some instances some banks due to poor management on issues that concern loans may become unable to collect the loans as required.  Loans may even be lend to individuals or organizations without following the right procedures.  This puts the bank at the risk of losing the money because ways of getting it back may be undermined by previous non-procedural ways of lending it out.

The stability of the bank in terms of capital or assets is interfered with.  Any bank that succeeds requires a stable environment I which to work in and any instability that occurs affects the bank’s efficiency and success.  Loans need to be collected back on time and in full amount to promote increase in income while at the same time minimizing any losses through loans that were previously given out.

Depressed economic conditions or marginally depressed conditions where the banks operate from  undermine their success.

For example, deterioration in agricultural ,oil and gas or commercial estate economies. The depression will adversely affect small  size banks. The bank’s size of capital is a factor that affects its success.  Capital is very important in establishing a business enterprise as well as supporting its business activities.  Banks vary in size in relation to the capital with some banks being large and others smaller.

Shocks may occur which affect the banks.  The effects of occurrences that result to negative outcome in the banks can be referred to as depression effects.  The large banks due to their large size of capital can cope with the depression much better than small capital banks. Large banks can be able to utilize their capital to improve on areas that become adversely affected.

However, small banks may lack the much needed capital to invest in improving its activities and areas in order to recover from the depression .For example in 1930s ,banks in Nebraska experienced economic depression due to farmers lacking money to spend.  The banks experienced failure at alarming rates causing people to lose their money, (Lynne.P.D.1975). Small banks are more likely to fail in case of depressions compared to larger banks that can cope with it.

Poor management in banks guarantees the failure of banks because it lacks proper activities or practices within the institution and outside the institution. Poor management translates to poor coordination poor organization, poor objectives and goals and poor methods of minimizing and preventing fraud or embezzlement of funds.  An institution that lacks well-laid objectives and goals looses focus.  The direction towards success cannot be well defined.  The activities within the institution lack good organization and coordination and this lowers the productivity of the workers.  Workers cannot work together and lose a sense of responsibility and commitment towards their work.  This opens loopholes for fraud or illegal activities where workers may turn into embezzling of funds

The deficiencies within the bank’s board of directors and management are primary internal problems that result to failure. The experience ,capability, judgment and integrity of the directors and the management officials determine the quality of a bank. The bank’s affairs are conducted under the board of directors orders. Uninformed and inattentive board of directors, lack of necessary banking knowledge, overly aggressive activity by the board or management are factors that contribute to failure(.http://www.occ.treas.gov/bankfailure.pdf ).

The management might be excessively growth-minded or may follow liberal credit views, which include inappropriate lending policies and poor judgment in the  decision making process. Poor management affects all aspects of the bank  that enhance success.

The human resource department is very important in a bank’s management.  Issues that are related to workers and the working environment are addressed and solutions provided for any arising problem.  When the department becomes poorly managed the guidelines that ensure recruitment of qualified and skilled workers are undermined. Qualified, skilled and experienced employees encourages high worker productivity and prevents recruitment of poor skilled workers.

Lack of motivation to the workers (incentives) poor payment, laziness, absenteeism and lack of discipline undermine a bank’s ability to succeed.  All of the above mentioned can be attributed to poor management.  Illegal activities of stealing bank funds hugely contributed to  indiscipline on the side of the employees .Poor management in the banks hinders the development of measures that address problems that arise in its day-to-day operation.  Management incompetence is no doubt one of major contributors in bank failure.

Banks face stiff competition from each other, triggered by the fact that every bank wants to triumph over the other (Benton E.G.1998).  This has seen great competition in the bank industry in all countries all over the world.  Competition promotes better services for customers by the banks, and improved marketing strategies, which consequently result to growth (economically) and management wise.  Competition in the market though good can become tragic to the banks in its success.

Bank’s failure can be attributed to excessive competition among numerous banks.  Stiff competition result to closing down of banks that could not survive the tough environment created by higher competitive rivals.  Excessive competition causes a tough environment for the banks to work within.  Unfortunately where a given bank’s operations bear very little income, it is most likely to fail if it does not improve.

Bank failures also have their effects, which include adverse effects to economic activity in the communities near the location of the failed banks.  Local communities are involved in bank’s activities and investments.  The bank failures depress local sales, and local employment.  Banks provide funds to allow businesses to purchase inventory and support small businesses capital.  When banks fail the local businesses lack capital and funds to run the businesses.

Bankruptcy of one bank affects other banks also-contagion effect.. A large bank bankruptcy may cause the loss of public confidence in the whole banking system which is more likely to set off runs on the other banks.  Consequently this causes losses to the banks and their stockholders, which then disrupts the monetary system and the stability of the general economy.  Bank failures are said to have contagion effect where one bank failure spreads over to the other bank too.

Banks failure causes the market value of its asset to decline below the market value of its liabilities.  Consequently the banks market value of its capital becomes negative causing the bank to become unable to pay all of its depositors in full and also on time.  Informed depositors may withdraw their funds and strip the bank of its valuable assets.  The less informed depositors and holders of longer dated deposits bear the entire loss.

Bank’s losses due to failure accrue to shareholders, depositors, unsecured creditors and deposit insurer.  Small loan customers are affected by changes in their own officers, loan standards and other aspects of their bank relationship.  All these effects will then affect the national economy in a given country where economic development is undermined.  The effects on small businesses, the depositors and other banks will hinder growth of economic activities.

Bank failure prediction is important for both the banks and regulators of the banking industry.  The collapse of a bank has devastating consequences to the entire banking system and other financial institutions one way in which bank failure can be predicted is by constructing an integrated early warning system (IEWS) which can be used as a decision support tool in bank examination.  Supervision process for banks that are experiencing serious problems also help in the prediction.

Banks that are operating in depressed economic conditions  can be able to foresee their collapse if the economy fails to change .Deterioration of other sectors that support the economy (oil, agriculture and commercial real estate economies)  may be a catalyst towards the banks collapse.

Where banks detect poor management issues they can be able to predict the likelihood of the bank to collapse.  Detection of fraud cases act as a sign of failure if such activities are not stopped on time.  Excessive competition from other banks and financial institutions that is developing will assist banks to predict how well they will operate in future.  They can collapse if no measures are put into place to counter the competition.

Conclusion

To reduce the possibility of banks’ failure ,the board of directors need to be active coupled with working together within well-specified roles. This enhances the establishment of realistic goals and strategic plans for the banks. More importantly ,banks need to establish and maintain strong internal policies, systems and controls ,to cope with fluctuations that may cause failure in banks.

References

Benton E.G.1998.Bank Failures in the Major Trading Countries of the World.

Hendrickson.J.M.2000.The Impact of Bank Failures on Local Bank Pricing.

Lynne.P.D.1975. A Case History of Bank Failures.

http://www.cato.org/pubs/journal/cj16n1-2html

http://www.occ.treas.gov/bankfailure.pdf.

Where Do We Go From Here? Debbie Ebersole HIS/135 11/27/2011 Brian D. Blodgett, Ph. , D Where Do We Go From Here? History repeats itself; a phrase I have heard many times over the course of my life. I have also been told “if you want to look into the future, look to the past. ” If there is truth to either phrase, perhaps we are the brink of change; a time of prosperity much like after WWII. Starting with the 1950’s and going forward let us look back on events that have helped define where we do we go from here. Little White Houses – The 1950’s

The end of WWII signified many changes in the United States. For almost twenty years leading up to the 1950’s economic stagnation plagued the United States, thanks to the Depression and WWII. The war had come to an end, veterans returned home to their loved ones, and it was time for Americans to begin enjoying life. Veterans with assistance from the GI Bill purchased homes in the suburbs. There was a car in the driveway and a television in the living room. In the years following the war the United States and the Soviet Union emerged as “superpowers,” and mortal enemies (Davidson, 2005).

The spread of communism and the “cold war” had an impact on the American domestic life. Bomb shelters were built in backyards. Each country had the capability to annihilate one another and the rest of the world (“Cold War”. 1996 – 2011). It was during this time the struggle against racism and segregation penetrated the American way of life. In 1954 the landmark case, Brown v. Board of Education the Supreme Court ruled that “separate educational facilities” for black children were “inherently unequal” (“The 1950’S, 1996 – 2011). In December of 1955, after years of sitting at the back of the bus, Ms.

Rosa Parks took a seat in the front. All was fine until a white male entered the bus. Ms. Parks was told to give up her seat on an already crowded bus. Not only was Ms. Parks African American, she was a woman. She defied the law. Her action prompted the organization of the Montgomery Improvement Association, led by Martin Luther King, Jr. This was an act of civil disobedience that led to the November 23rd, 1956, Supreme Court ruling, bus segregation was illegal. Ms. Parks is known as the “mother of the civil rights movement” (“Rosa Parks”, 1996 – 2011).

These events and others that followed contributed to redefining Americans and the right to equality. The Age of Youth – The 1960’s Baby boomers born after the war’s end became teenagers and the youth of America. Movement away from the conservative 1950’s was well on its way. Young people wanted change; it was time to question authority. As the Vietnam War continued to intensify, college campuses became centers of debate and scenes of protest (Goodwin & Bradley, 1999). The impact of the Vietnam War struck the baby boom generation. They were coming of age and would be drafted into the armed services (Davidson, 2005).

By 1966 more than 400,000 troops were deployed to Vietnam (“Vietnam 1945 to 1975 Timeline”, n. d. ). It was a time whether you were for or against the war that Americans had to take a stand on Vietnam. The cost of the war continued to rise to more than $50 billion a year as did inflation. Programs to assist those in need (Medicare, housing and education) raised the domestic budget. Recession and inflation brought an end to the affluence that Americans enjoyed. The Vietnam War had destroyed the promise of prosperity. Who Can We Trust? – The 1970’s The war in Vietnam continued on.

Inflation and unemployment continued to escalate. Women, African Americans, Native Americans, gays and lesbians sought equality and most Americans joined in the protest against the war (“The 1970’S”, 1996 – 2011). President Richard M. Nixon was in office, elected for a second term. It was during this term the country realized how much power the President of the United States had and what he could do with it. President Nixon was re-elected by a landslide. He resented those who challenged his authority and approved attempts to discredit whoever opposed him.

In June of 1972 authorities found 5 burglars in the office of the Democratic Committee located in the Watergate building. The five men had been a part of President Nixon’s Committee to Re-elect the President. Over the course of the next two years, the events that unfolded would lead to the first resignation of a United States President. It was President Nixon who announced after a thorough investigation; “no one from the White House staff was involved in the incident” (Davidson, 2005). In President Nixon’s words “What really hurts is if you try to cover it up. During trials for the 5 burglars and former White House staff members the truth began to unfold. Recorded conversations with his aid H. R. Alderman were proof President Nixon was aware of the burglars and their connection to the White House staff. It was also disclosed he had knowledge his attorney general acted to curb the FBI investigation. The House Judiciary Committee adopted three articles of impeachment against President Nixon. To avoid impeachment, President Nixon resigned from office on August 8th, 1974. The Reagan Years – The 1980’s President Ronald Reagan is elected to office.

Prior to Ronald Reagan’s election to President the country faced energy shortages, rising prices and low American productivity. Much of the demise of the country was put on the shoulders of Presidents Carter and Ford. During his presidency, Ronald Reagan’s main objectives were to cut taxes, build up military defense and limit/reduce government control. President Reagan knew how to play on the moral values that conservative Americans lived by; “I think there is a hunger in this land for a spiritual revival, a return to a belief in moral absolutes,” (Davidson, 2005)

President Reagan’s economic program was based on the supply-side theory; generate growth by stimulating a greater supply of goods and services, thereby increasing employment opportunities (“Ronald Reagan on Budget & Economy”, n. d. ). Although it was President Reagans goal to limit government spending by reducing programs to aid the poor; food stamps, Aid to Families with Dependent Children, Medicaid, school lunches and housing assistance, military spending saw no limit. By 1985 nearly $300 billion was spent on strategic nuclear weapons systems. During his presidency the wealthiest Americans (the top 1 percent) enjoyed the best of imes. Yes, 14. 5 million jobs had been created by they were unevenly dispersed by region, class and gender. Employment for the poor was restricted to minimum wage, part time jobs with no real room for advancement. Going Global – The 1990’s The first baby boomer, William Jefferson Clinton is elected President. The face of immigration changed throughout the 1990’s. Latinos from Mexico and Central America sought a new life in the United States. Asians from the Philippines, China, Korea and Southeast Asia now called the United States home. Arabs, Africans and Eastern Europeans migrated to the United States.

Changes in employment opportunities brought newcomers. The Industrial Revolution gave way to the service industry. As the Cold War came to an end; the crumbling of the Soviet Union brought a new awareness to regional conflicts. International economics joined the United States to countries around the globe. Economic troubles in Russia or Great Britain could have an adverse effect on our economy and vise a versa. The World Wide Web was born in 1992, forever changing how we communicate (email), how we spend money (online purchases) and how business is conducted (e-commerce).

As people, financial capital and information traveled across the globe the United States had to adapt to a global community (Davidson, 2005). Within this global community terrorism also plays a role. The World Trade Center faces its first attack on February 26th, 1993. Attacks on United States embassies in Africa are linked to Osama Bin Laden. Where Do We Go From Here? It appears that events happen in cycles. We have wars, recessions, times of peace and posterity. I would like to believe that the coming ten years will be those filled with peace and posterity as we are at war and staving off a recession today.

References

1. Cold War. (1996 – 2011). Retrieved from http://www. history. com/topics/cold-war Davidson, . , Gienapp, . , & Heyrman, . (2005).
2. Nation of Nations . : McGraw-Hill Companies. Goodwin, S. and Bradley, B . (1999). 1960-1969.
3. American Cultural History. Lone Star College-Kingwood Library, Kingwood, TX. Retrieved from     http://wwwappskc. lonestar. edu/popculture/decade60. html http://www. issues2000. org/celeb/Ronald_Reagan_Budget_+_Economy. htm Rosa Parks. (1996 – 2011).
4. Retrieved from http://www. history. com/topics/rosa-parks The 1950’s. (1996 – 2011).
5. Retrieved from http://www. istory. com/topics/1950s The 1970’s. (1996 – 2011). Retrieved from http://www. history. com/topics/1970s The 1990’s – Prosperity As The World Turns. (2009).
6. Retrieved from http://americasbesthistory. com/abhtimeline1990. html Vietnam 1945 to 1975 Timeline. (n. d. ).
7. Retrieved from http://news. bbc. co. uk/2/hi/special_report/1998/03/98/mylai/62755. stm Whitley, P. , Bradley, B. , Sutton, B. , and Goodwin, S. (2011). 1990-1999. American Cultural History.
8. Lone Star College-Kingwood Library, Kingwood, TX. Retrieved from http://wwwappskc. lonestar. edu/popculture/decade90. html

Coming to America Paper In the movie “Coming to America” we can observe a wide variety of stereotypes, cultural differences, and language barriers throughout the movie. Now whether or not the stereotypes and cultural differences are accurate, it gives us a good idea of how America is difference then most countries around the world. In today’s world when people think of Africa they think of people who may not be as educated as Americans, and possibly people who grew up in the jungle or rainforest.

When in fact “only a small percentage of Africa, along the Guinea Coast, Congo, and in the Zaire River Basin, are rainforests. Most of Africa’s forests, like the forests of Europe and North America, have been cut or burned by humans to create farmland. ” (MAA) We also witness language barriers come into play in the movie. When the Prince is trying to find a city in America to find his bride he says “what better place for a queen than Queen’s, New York”.

When in all reality Queen’s, New York is known for being to have a relatively high crime rate and high poverty rate in 1988 when the movie was released, which in American culture, would probably not be the best place to find your “queen” or girlfriend. Cultural differences, language barriers, and stereotypes, come up quite often in the movie. The movie tries to show Americans in a somewhat comedic way how Africa and America have different cultures.

The cultural differences in the movie also suggest that it may not be very easy to transition between the two cultures, because American’s and African’s may value different things greater in one country compared to the other. Stereotypes, cultural differences, and language barriers will always be around, but it is up to the people of the world to educate one another, and help them evaluate and understand their differences, which will in turn help the coexistence of nations throughout the world. Citations “Misconceptions About Africa. ” African Studies Center, University of Pennsylvania. Ed. Ali B. Ali-Dinar. Web. 05 Oct. 2010. . (MAA)

Medgar Evers Medgar Evers was a civil rights activist whose life was cut short due to the racism and discriminations towards blacks in his time. Medgar Wiley Evers was born on July 2, 1925, near Decatur, Mississippi. He grew up on a small farm that his father owned along with 5 other siblings. Evers strived to get his diploma by walking 12 miles to and from school every day, until 1943, when Evers was inducted into the army along with his brother Charles Evers. He fought during WWII he was honorably discharged as a sergeant in 1946.

He returned home and two years later he started to attend Alcorn College majoring in business administration. He was very active people in college a member of the debate team, the school choir, football team, track team, and was also the president of his junior class. He was listed in the “Who’s Who in American Colleges. ” He received his BA degree a year after he married Myrlie Beasley and they would later have 3 children. They moved after Evers found a job as an insurance salesman in Mound Bayou, Mississippi.

He and his brother Charles Evers were apart on the Regional Council of Negro Leadership (RCNL) where he helped organize a boycott of public restrooms that blacks couldn’t use. Medgar tried to enroll into the University of Mississippi Law School in which he was rejected. He filed a law suit against the University as an attempt to defy segregation in the school. The NAACP later chose Evers to be their first field secretary to represent them. Evers attempted to desegregate the University of Mississippi by trying to enroll James Meredith an African American.

Meredith was later accepted in the University of Mississippi which lead to a riot on campus leaving two white men dead. Evers also investigated the murder of Emmett Till and supported Clyde Kennard, all of these event lead to more hatred towards him from the whites. He was becoming a target to many white supremacists he came across many problem and altercations and still remained non-violent. On May 28, 1963, a Molotov cocktail was thrown into his house and he was almost run over by a car after he was leaving from the NAACP office.

But a day after president JFK’s speech to support civil rights Evers was shot in the back. He was shot by a member of the KKK and also white supremacists named Byron De La Beckwith. Beckwith was tried for Evers murder two times and both trials ended with no verdict so he wasn’t sentenced. But, the third times he was tried he was found guilty and sentenced life in prison in 1994. It took 31 year for Evers murderer to be convicted of a murder due to racism and discrimination. In addition, Evers was later honor when they named a college after him in Brooklyn, New York in 1969.

Eighty-eight years’ refer to the period between Vermont’s annulment of subjection in 1777 and endorsement of the thirteenth Amendment in 1865. In reality, the book extends over the whole history of Atlantic subjection. Starting with a concise examination of the extension of European domains in the 1500s and the formation of the Atlantic ranch complex in the mid-1600s, the book centers around the century extending from the Imperial Crisis and the American Revolution in the 1770s to Reconstruction in the 1870s.

It likewise as often as possible pushes forward to the late cancellation of subjection in Brazil, Puerto Rico, and Cuba in the 1880s. In like manner, while the subtitle references the ‘long passing of servitude in the United States’, the work centers around the northern and southern United States, yet goes broadly amongst London and Paris, Cartage and Copenhagen, Puerto Rico and Brazil, Cuba and Columbia. Regarding its ordered and geographic degree, Eighty-Eight Years’ adversaries are few and recognized Rael, sorts out his contention around a progression of ideas that are presented and characterized in a protracted presentation that reimburses numerous readings. Obtaining from world-frameworks hypothesis, Rael depends vigorously on ideas of metro pole, center, and fringe.

Following Philip Curtin, Rael classifies European states in the Americas as obvious realms, abuse provinces, and pilgrim colonies.(3) Finally, Rael recognizes three sorts of cancellation that won in the Americas. Progressive cancelations occurred in the northern United States, Haiti, and the republics of the previous Spanish-American Empire, emerging from autonomy developments, wars for freedom, and transformations. Metropolitan cancellations characterized annulment in the Caribbean (with the essential special case of Haiti), and included the metro pole forcing nullification on the fringe. At last, in the southern United States, Puerto Rico, Cuba, and Brazil, late nullification took after from a mix of progressive developments and outer weight. The curiosity and estimation of Eighty-Eight Years lies less in these ideas but rather more in the recounting the story.

As much as anything, Eighty-Eight Years gives a past filled with the since a long time ago, challenged battle for cancellation in the more extensive Americas. It centers around nullification’s trap with pilgrim autonomy developments, Enlightenment and progressive belief systems, and the philosophies of property, subjection, and flexibility that rose out of the royal mercantilism and after that mechanical frameworks of private enterprise that overwhelmed the Atlantic World. It looks at demonstrate free blacks made Black Nationalist philosophies, and how unique monetary frameworks favored bondage or cancellation in various ways. It incorporates vital attacks into how cancellation happened in different spots – through autonomy, war, insurgency, philosophy, rough protection, and the relative significance of subjection in different realms. It additionally contains vital examinations of how a few slaveholders gave in rapidly and effortlessly to nullification developments, while others hung on for any longer time frames.

The book starts with a broad acquaintance that integrates and includes with an age of work on European extension, realm, and subjugation from its sources in the 1500s through its last cancelation in the late 1800s. It’s a part that stands alone from whatever remains of the work, and it can be perused beneficially both when a peruser travels through the content’s center sections. The presentation clarifies the connection between the rise of free enterprise, state bolster for vendor ventures, and estate bondage, while dissecting the different associations that fixing different settlements to rising European states.

By 1775, European states had built up flourishing provinces in the Americas that utilized racialized slave work and a ranch framework to deliver money trims inside a particular arrangement of trans-Atlantic private enterprise. However inside 50 years, the British, Spanish, and French domains in the Americas had fundamentally changed, and slaveholders wherever ended up on edge. Inside an additional 60 years, property bondage would be annulled altogether from the Americas. It required a century to fabricate those realms, slave social orders, and a flourishing trans-Atlantic exchange slaves and slave-delivered wares. It would require one more century to destroy that framework.

The rest of the book centers around that disassembling, and certain subjects and focuses are unmistakable in Rael’s investigation. In 1775, bondage was universal, and acknowledged and expected by the vast majority in the Atlantic world, including slaves themselves. By 1825, servitude was generally observed as curious, ‘as an exception of humanized society, a maybe essential yet plainly merciless shrewdness, or an infringement of the regular request.

What changed throughout that 50 years? The change from vendor, money edit private enterprise to modern free enterprise released a progression of autonomy developments and wars that started with the American Revolution. In Rael’s telling, the American Revolution matters since it catalyzed once diffused illumination standards into intense and all inclusive progressive belief systems. The French Revolution and a progression of freedom developments spread these general and progressive philosophies broadly. Progressive belief systems and about constant arrangement of majestic wars and wars for freedom demonstrated instrumental in affecting liberations over the different social orders with slaves in the Americas.

War, freedom, upset, and progressing financial changes additionally made a totally new ideological administration that put slaveholders wherever on edge. As Rael contends, transformation and cancelation, property and slaveholding, freedom and servitude, are altogether philosophies and ideas with chronicles. The primary segment of the book is dedicated to following how these ideas and philosophies rose out of the one of a kind arrangement of vendor private enterprise and subjugation that rose in the late 1600s, and the progressive emergency that struck this framework in starting in the 1770s.

Expanding on Edmund Morgan’s exemplary definition, Rael sets that thoughts of freedom developed out of the bedlam of commercial dominion, bondage, and private enterprise in the mid-1700s. To legitimize protection and afterward defiance to the King and Parliament, the pilgrims changed freedom from the ownership of freeborn Britons and the result of Britain’s novel established government into an all inclusive right gave by common law. The royal emergency, freedom, war, and upheaval catalyzed once diffused Enlightenment standards into a strong progressive belief system. It additionally made a parallel development of bondage and flexibility, and prompted the universalization of freedom. As Rael noticed, ‘a similar Atlantic world that had made the merciless and profoundly free enterprise types of bondage that existed all through the vast majority of the New World additionally made the ideological preconditions for the entire cancelation of servitude.

In any case, Rael is no determinist, and he rejects Whiggish and ‘disease of freedom’ elucidations of servitude’s downfall. As Rael additionally takes note of, ‘the powers that made New World subjection in the end made the likelihood of New World Slavery’s end’ (p. 47). Rael guides perusers through the possibilities that slaves, free blacks, and the backers of nullification went up against as they looked for cancelation in the numerous slave social orders and social orders with slaves in the Americas. Servitude’s destruction in the United States would be quite a while in coming. Setting bondage and nullification in the United States in a more extensive Atlantic setting clarifies why.

Rael’s investigation of annulment in the more extensive Atlantic emphasizes a vital point that is oftentimes neglected in the academic writing on cancelation in the United States. Over the Americas, subjugation survived autonomy and transformation where it was most critical; where the grower class practiced a lot of political power; and where the grower class practiced political control over focuses of back and capital. Slaveholders capitulated to abolitionism where it was less essential; in domains where the grower class needed political power; and in places where the grower class needed favored connections to focuses of fund and private enterprise.

Prior to the war of 1812, the United States was riddled with domestic political conflicts between the Federalist and Republican parties and diplomatic conflicts with Britain and France. The Federalist and Republicans’ opinions differed in every subject and diplomatic policies against Britain and France divided the nation. At one point, disunion was so apparent that during the Hartford Convention in 1814, New England almost seceded from the Union.

After the war of 1812, from 1815 to 1825, some Historians claimed that the nation embraced an due to the destruction of the Federalist Party (but not its ideas) and the numerous nationalistic improvements. However, a better name for the post war years of 1815 to 1825 is an Era of Mixed Feelings because although there were improvements stimulated by nationalism, there were also conflicts created by sectionalism. After the war of 1812, the people of the United States felt enormous pride in winning a war against the almighty Britain and used their nationalism to inspire improvements.

Beginning with James Monroe’s election in 1816, Monroe (Republican) won the election with an outstanding ratio of 183 electoral votes to his opponent Rufus King’s (Federalist) 34 votes. Then in 1820, Monroe had no formidable opponent and acquired every vote expect, thus marking the end of the Federalist Party. The nation was more untied than the pre-war era due to the emergence of the National Republican Party which had a hybrid of both Federalist and Republican beliefs. During Monroe’s presidency, the Monroe Doctrine was created and Florida became U. S. territory, both of which bolstered U. S. supremacy in the Western Hemisphere.

In 1819, the U. S. acquired Florida from Spain for $5 million, which basically secured U. S. power in North America. Then in 1823, the Monroe Doctrine constituted U. S. supremacy in the Western Hemisphere by stating that European powers have no right to interfere in Western affairs, and are not allowed to have further colonization within the Americas. The doctrine was especially important because it helped to proclaim U. S. independence since Monroe chose to not align U. S. with Britain and took a firm position against the potent European powers. (Doc. H) Both of these events created positive vibes in the country as the U. S. ecame more and more of a superpower. At a cultural level, people rejoiced with nationalism and celebrated national holidays such as Independence Day with vanity. (Doc. C) Francis Scott Key’s Star Spangled Banner gained ubiquitous popularity and became the national anthem and many great works of literature such as Washing Irving’s short stories illustrated American culture and values. In addition, the nation’s economy prospered due to Henry Clay’s American System, which promoted protective tariffs to protect and create industry and internal improvements such as roads, turnpikes, and canals to enhance internal commerce and unity.

The internal improvements were especially important because as Calhoun puts it, “the extent of the republic exposes us to the greatest of calamities—disunion,” thus by binding “the republic together with a perfect system of roads and canals”, the U. S. can economically grow in unity. (Doc. B) By examining the prevalent post-war accomplishments and improvements, it is evident that from the period of 1815 to 1825, the U. S. enjoyed a period of nationalism and prosperity. On the contrary, although the years 1815 to 1825 had numerous improvements due to nationalism, sectionalism and the 2nd B. U. S. ilemma caused many conflicts for the United States. First off, despite the fact that President Monroe won the elections of 1816 and 1820 with little to no opposition, by 1824, there were four candidates from the north, south and west; Andrew Jackson from Tennessee, John Q. Adams from Massachusetts, Henry Clay from Kentucky, and William Crawford from Georgia were representing different sections of the United States with unalike interests. (Doc. I) One of the main differences in interests was the issue of slavery, which Thomas Jefferson had predicted that one day it would be “the [death] knell of the Union. (Doc. E) The North’s economy had little to no use for slavery while the South’s economy depended on the slavery; especially after Eli Whitney invented the cotton gin, which allowed the production of cotton thus increasing demand for slaves. The Missouri Comprise of 1820 was a chief example of how slavery separated the people. The Missouri Comprise allowed Missouri to enter as a slave state and Maine to enter as a free state in order to fashion a balance of power and created a 36-30 latitude line border that unofficially established the North as anti-slavery states and the South as pro-slavery states.

Undoubtedly, the compromise damaged the nationalistic feelings of the nation and created sectionalism since the North and the South refused to give up political power that would put their region’s interests at stake. Economically, the nation’s wealth did increase but the issue of protective tariffs brought disunion because the North supported it while the South opposed it. Many people of the South shared John Randolph’s view that it was “unjust, to aggravate the burdens of the people for the purpose of favoring the manufactures. ” (Doc.

A) Furthermore, the Panic of 1819, which was chiefly the fault of the 2nd Bank of the United States, hindered the nation’s growth. Initially, the 2nd B. U. S. was run by William Jones who issued more banknotes than there were species and allowed employees to steal from the bank. When Jones was replaced by Cheeves, Cheeves stopped issuing bank notes so he could stop the distressing inflation. This course of action damaged businesses and farms throughout the country thus people could not pay their loans. As a result banks foreclosed people’s properties but even then, banks could not sell the mortgages.

This dominoes effect destroyed the nation’s economy and stymied the national pride. Due to the sectionalist conflicts of slavery and economic issues, it is palpable that the years 1815 to 1825 was not completely an Era of Good Feelings but bad feelings as well. Shortly after the war of 1812, the United States experienced many improvements culturally, economically, politically, and diplomatically. The nation celebrated its culture and virtues, adopted Henry Clay’s American System, was united politically until the years prior to the election of 1824, and made auspicious declarations with European powers.

However, disregarding the accomplishments and improvements were the sectionalist conflict of slavery that divided the north and the south, the 2nd B. U. S. internal improvements such as roads, turnpikes, and canals to enhance internal commerce and unity predicament that caused the devastating Panic of 1819, and the issue of protective tariffs. In the end, because the years 1815 to 1825 had both good and bad feelings, improvements and conflicts, it is best to label the period as an Era of Mixed Feelings characterized by nationalism and sectionalism.

Shelby Bradley The idea of a brand new world across the ocean sparked interest in many Europeans. They saw it as an opportunity to get rich quick and benefit immensely. The issue they didn’t see was the presence of the Native Americans who were already on the land. The Europeans sailed into North America and immediately started excluding the Indians and taking their land. This caused many conflicts between the two groups, especially in the New England and Spanish Southwest region and during the 1600’s. In 1620, the first New England settlement was founded. It was at a site called Plymouth Rock and was the location of the Mayflower Compact.

At first the colonists had lots of trouble figuring out how to grow crops and hunt and basically survive in this new world. The local Native Americans showed them how to farm and hunt and soon the colony prospered. It’s hard to understand why so many conflicts occurred when clearly the Native Americans weren’t fighting our arrival. The colony was doing so well that other people from Europe saw opportunity and starting moving to New England. Soon the colony was overcrowded and the colonists started taking the Indians’ land. They also hunted too much, spread their diseases to the Indians, and also tried to convert them to Christianity.

The Indians did not take this lightly. They started to fight back. For example, they killed Anne Hutchinson and her family. The Europeans’ greed was the root of these conflicts and the Native American’s response didn’t help their relationship either. Meanwhile there were also problems in the Spanish Southwest. By the 1600’s most of South and Central America were occupied by Europeans, so the Spanish started heading north. The Spanish immediately killed and enslaved any Indians that they ran into. By the time they reached New Mexico, slavery was in full swing and they were trying to convert the Indians to Christianity as well.