Private capital, public credit and the decline of American railways in the mid-20th century

From the mid-19th Century until the Great Depression, banks, insurance companies and other large institutional investors supplied railways with external capital that supported their rise to near hegemony over transport in the U.S. This regime ended in the 1930’s, when widespread rail bankruptcies threatened broader credit markets. The federal government intervened via a powerful, new, public financial intermediary—the Reconstruction Finance Corporation—to socialize devalued rail debt, which largely removed private institutional investors from rail capital markets. At this defining moment, the Roosevelt Administration could have used its financial and political leverage to rationalize structural weaknesses in the rail industry. It did not. Thus by the time the Depression ended, railways were significantly weakened vis a vis their increasingly successful competitors in highway-based transport. Thus, the decline of American railways was caused more by financial factors than, as existing historiography suggests, by either excessive government regulation or failures of railway management.Capital markets; railways; role of state

Connected to Give: Key Findings

This is the first in a series of reports based upon the wealth of data from National Study of American Jewish Giving. The key findings represent the top level of information gleaned from the studies, but there is much more to be explored. In addition to findings that relate giving to demography and identity, there are additional data about specific populations, particular areas of interest, and individual modes of giving

Private capital, public credit and the decline of American railways in the mid-20th century

From the mid-19th Century until the Great Depression, banks, insurance companies and other large institutional investors supplied railways with external capital that supported their rise to near hegemony over transport in the U.S. This regime ended in the 1930’s, when widespread rail bankruptcies threatened broader credit markets. The federal government intervened via a powerful, new, public financial intermediary—the Reconstruction Finance Corporation—to socialize devalued rail debt, which largely removed private institutional investors from rail capital markets. At this defining moment, the Roosevelt Administration could have used its financial and political leverage to rationalize structural weaknesses in the rail industry. It did not. Thus by the time the Depression ended, railways were significantly weakened vis a vis their increasingly successful competitors in highway-based transport. Thus, the decline of American railways was caused more by financial factors than, as existing historiography suggests, by either excessive government regulation or failures of railway management

“Identités” dominantes et dominées :L’État d’Arizona contre les études ethniques

En mai 2010 la gouverneure de l’État d’Arizona Mme Jan Brewer a converti en loi, par sa signature, un projet (dit « HB 2281 »), porté par quelques personnalités très motivées de la droite républicaine locale, qui visait la suppression du programme d’Études mexicaines-américaines enseigné dans certains lycées de la ville de Tucson, deuxième ville de l’État (environ 520 000 habitants). Les autorités scolaires locales sont menacées d’une perte significative de fonds publics s’ils ne suppriment p..

“Identités” dominantes et dominées :L’État d’Arizona contre les études ethniques

En mai 2010 la gouverneure de l’État d’Arizona Mme Jan Brewer a converti en loi, par sa signature, un projet (dit « HB 2281 »), porté par quelques personnalités très motivées de la droite républicaine locale, qui visait la suppression du programme d’Études mexicaines-américaines enseigné dans certains lycées de la ville de Tucson, deuxième ville de l’État (environ 520 000 habitants). Les autorités scolaires locales sont menacées d’une perte significative de fonds publics s’ils ne suppriment p..

ENTREVISTA A PAUL GILROY: DEL ATLÁNTICO NEGRO A LA MELANCOLÍA POSTCOLONIAL

Otros caribes: de las Antillas al continente (sudamérica, centroamérica y norteamérica

Policy Options for Water Management in the Verde Valley, Arizona (Executive Summary)

The water of the Verde Valley, both in the ground and flowing at the surface, is a natural resource that is critical to the regional economy, environmental sustainability, and quality of life -- but the Verde River faces unprecedented threats from over-allocation, development, and lack of cohesive water management. This report presents the results of three related initiatives designed to examine possible futures for the Verde and provides information for stakeholders and decision makers regarding the Verde Valley's water resources, its economic value, and possible tools for sustainable water management.Our analysis included modeling the effects of growth on river flows and on the regional economy. Population growth and development in the basin, if not mitigated, are likely to cause further decrease in the summer base flow in the Verde River. Decreases in the Verde River's flow have already been observed, and further reductions could have harmful side effects on the region's economy and could lead to federal intervention in local water management to maintain habitat for endangered species