For example, the government caused scarcity of silver in China caused farmers to cultivate less land because it drove the prices of grain down (Doc 3). This conveys the social problem that because the flow of silver in china was limited because of the government, farmers were not able to cultivate as much land. Therefore, less food was produced to sustain chinese society. Moreover, Ming official Ye chunji explains that a simple man is fulfilled even with scarcity of silver, while a extravagant man can not be content with huge amounts of silver (Doc 1). This record depicts the social problem that the huge flow of silver has caused some people to leave traditional confucian and chinese values of modesty and unnecessary spending because the author claims that there are people in society that can not be satisfied with enough wealth.
The Great Depression was caused by an overproduction of agricultural goods which led to an increase on imports and falling prices in the Chinese market. It also included widespread fighting among warlords. A quote that represents how hard the Great Depression was for industrial business owners is, “but it was the time of widespread fighting among warlords, who all levied heavy taxes. This, combined with the effects of the Great Depression, made it an extremely difficult time to run a textile factory” (Chang 104). Also, prior to the establishment of the Renminbi becoming the national currency in 1935, there were many different forms of payment.
In china, however, Mongols acted as superiors to the Chinese, stripping them of any government positions and basically separating themselves from the Chinese. Because of this derision from the Mongols toward the Chinese, Mongols faced rebellion from the Chinese population that was uncontrollable. Eventually in 1368, the Mongol empire was taken over by rebel forces because of the hatred towards Mongol overlords and their unjust ruling. Leadership from the Mongols in china and the Middle East differed greatly and for Persia lead to beneficial for the empire while Mongol rule in china eventually lead to the decline of the
This lay way for Wang Mang’s unsuccessful Xin Dynasty. Partially because Wang Mang was faced with a natural catastrophe that destabilized the government socially and economically from the beginning of his reign (Lewis 2009). The natural catastrophe was the flood of the Yellow River. It altered the path for which water travelled through China and discharged into the sea. Channels that originally protected the people of China broke during the flood of the Yellow River and brought devastation upon the people (Chang-Qun et al.
The abuse of power by the higher authority angered millions. The people wanted a republic because of lacking leaders. The mass numbers shared a common goal and this paved the bloody path to the power of the people. The idea of revolution was spread to the oppressed Third Estate citizens and the divisions between the estates lead to an uprising which then created the National Assembly. The partisans of the Third Estate destroyed symbols of royal power through the storming of the Bastille and the Women’s March.
Also, at the time the railroad companies began to have issues, so they increased prices for shipping as well as making the middlemen take more money from the farmers. The farmers then had to mortgage their farms for credit. This created the Panic of 1893. Railroads went bankrupt, stocks fell, businesses and banks collapsed. Life wasn’t easy for anyone living in the west at the time, that included the Native
Chinese leaders could not collectively agree on an approach, and Beijing’s new rulers saw very little value in naval affairs. Seafaring expeditions proved to be costly, forcing higher taxes on an already depraved population. They believed that the financial risk was not worth the little return. Trade did flourish when the Chinese made connections with Western explorers, however the exploits of trade did not benefit the country as a whole. Mongolians and other raiders posed a serious threat to China’s frontier.
According to Feason in his book, Kansas in the great depression, he said; “Price falls also had a destabilizing effect in the farm community. Farm income was suddenly reduced, and it became especially services for operators holding mortgages who feared the real burden of their debt dramatically increased. Farm closures and the desperate, even violent attempt to prevent them became increasingly common news”, (p.2). This statement is showing how difficult, it was for the farmers and other U.S. firms to export goods. And being that the farmers make up to 1/3 of the nation in the 1930’s, their decrease in export and lack of income had a big severe effect on the nation’s economy.
This reason of the price drop is due to the fact that there was a surplus of wheat, not enough buyers (due to price). They over exceeded the demand and the agriculture demand dropped excessively. Another
Also took away from the essential market from European and Latin American countries . Many people in these countries lost their jobs , as factories were not able to sell products to the United States , farmers raised their tariffs , and excluding American manufactured , farm products from the foreign market . Wilson Believed in low tariffs , had reduced to increase them and the demand was growing for higher tariffs . The nation Europe had have accumulated huge debts during World War One and borrowed massive amount of money from the United States to buy war goods .Around 1918 the total amount owed to the U.S. was 10 billion dollars . The United States lowered interest rate on loans .Europeans faced difficulties in repaying and the high tariffs in the U.S. prevented Europeans from earning the dollars they needed to pay off the loans