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On December 6, 1790, the United States Capital officially moved from New York City to Philadelphia, Pennsylvania. The capital remained in Philadelphia until 1800 when it permanently settled in Washington, D.C.
The United States government spent its first year (1789-1790) under the Constitution in the city of New York. During much of the preceding confederation period (1776-1787), however, Congress had resided in Philadelphia. Upon the formation of a new national government under the Constitution, the city campaigned vigorously for the federal government to return. While Congress chose to establish the nation's capital along the Potomac River in the District of Columbia, it also rewarded Philadelphia; it chose the Pennsylvania city to house the federal government until 1800 while its offices in Washington were under construction.
Arriving in time for the December 1790 session, Congress moved into Philadelphia's county courthouse, Congress Hall. These quarters quickly proved too small, and in 1793 the building had to be enlarged. The Supreme Court met in the mayor's courtroom in Philadelphia's city hall, and President George Washington moved into the former home of a local politician. As part of its improvement program, Pennsylvania offered to build Washington a presidential mansion. Washington, however, feared the city would use the residence in a bid to keep the capital in Philadelphia permanently. He also worried that living in grandeur would send the wrong message to Americans and the world about the nature of the new American republic. When Pennsylvania built the mansion anyway, Washington refused to live in it.
The initial adjustment period proved somewhat chaotic as legislators searched for housing in a city rapidly filling with tailors, barbers, shoemakers, and other entrepreneurs who hoped to capitalize on the presence of the federal government. Prices rose accordingly with the increased demand for goods and services, and many congressmen bemoaned the higher cost of living. The profusion of balls, dinners, dances, public lectures, musical performances, and theater spurred by the federal presence created a rich cultural environment. President Washington's weekly reception for politicians and foreign diplomats and Martha Washington's Friday evening soirées commanded the highest priority in the city's social scene. Washington's careful cultivation of public esteem and deference in Philadelphia enhanced his image as a national symbol and fostered the growth of American nationalism. In an era when most Americans looked to Congress as the primary branch of government, Washington's public persona in Philadelphia helped to elevate the stature of the presidency and solidify its importance in the American political system.
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it encouraged entrepreneurs
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Inflation
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During the early 1920’s the Weimar Republic (German government from 1918 to 1933) was affected by Hyperinflation*, particularly in 1923. This happened because Germany had many debts they could not afford: a) the Reichstag (German parliament until 1918) funded the costs of WWI by borrowing money, which they could not repay after the War, as Germany was defeated by the Allies and could not annex the rich territories they tried to occupy; b) after the Great War the debt was increased as the Allies imposed very large reparation sums to be paid by Germany (Treaty of Versailles and London Payment Plan).
With the London Payment Plan, Germany had to repay the money in gold or foreign currency in annual installments. When they started the repayments in gold marks, during the summer of 1921, the paper mark started to lose value because after the repayment they started to buy foreign currency at any rate, which started to depreciate the paper mark. This caused that by 1922 Germany was not able to buy foreign currency or gold in paper marks, so they had to start exchanging them for goods; and so, they were not able to make the repayments. Then, in 1923, to ensure Germany paid the reparations agreed France and Belgium occupied the Ruhr valley, which prompted workers to go on a strike. This meant that there was no income from production. So Germany had to print more paper marks to pay for salaries, which inundated the market with paper marks, devaluating the currency and creating a hyperinflation. By November 1923 a USD was equivalent to 4,210,500,000,000 marks.
<u>* Hyperinflation</u>: when inflation is very high and happens in a very short time. As the general price of goods and services increases, the real value of the currency highly decreases. The purchasing power of the currency decreases. This means that, for example, with one dollar you can buy less things than before inflation. Therefore, people cannot buy essentials as their prices become exorbitant.
The geography of Chile<span> is extremely diverse as the country extends from a latitude of 17° South to Cape Horn at 56° (if Chilean claims on </span>Antarctica<span> are included Chile would extend to the </span>South Pole<span>) and from the ocean on the west to </span>Andes<span> on the east. Chile is situated in southern </span>South America<span>, bordering the South </span>Pacific Ocean<span> and a small part of the South </span>Atlantic Ocean<span>. Chile's territorial shape is among the world's most unusual. From north to south, Chile extends 4,270 km (2,653 mi), and yet it only averages 177 km (110 mi) east to west. On a map, it looks like a long ribbon reaching from the middle of South America's west coast straight down to the southern tip of the continent, where it curves slightly eastward. </span>Diego Ramírez Islands<span> and </span>Cape Horn<span>, the southernmost points in the Americas, where the Pacific and Atlantic oceans turbulently meet, are Chilean territory. Chile's northern neighbors are Peru and </span>Bolivia<span>, and its border with Argentina to the east, at 5,150 km (3,200 mi), is the world's third longest.</span>
