Many banks had invested in the market and faced significant shortfall; several faced insolvency. The Crash also prompted a run on gold deposits, further reducing the amount of deposits banks had on hand. As a result, banks curtailed their lending activities, contributing to an economic slowdown.
Answer:
The small states wanted equal representation. ... The compromise provided something for large states and something for small states. It called for representation based on population in the House and equal representation in the Senate. The committee said both parts of the compromise must be accepted or both rejected.
Explanation:
Both the Southern and Middle Colonies had fertile farmlands, but only the Middle Colonies was able to provide trading opportunities, thanks to their coastal lowland and bay-provided harbors. Southern Colonies highly contributed to the rise of cash crops such as rice, tobacco, and indigo. Slaves cultivate huge tracts of land and plantations owned by wealthy aristocrats and large landowners. On the other hand, Middle Colonies were more suitable for growing grain and livestock, with its environment ideal for small to large farms. More diverse workforce also exists in the Middle Colonies, consisting of farmers, fisherman, and merchants. Another notable contrast between the two colonies is that, for the people of the South, life developed as rough and rural while people of the Middle countries are deeply connected to the Church and village community.
Answer:
The Constitution established a Federal democratic republic. It is the system of the Federal Government; it is democratic because the people govern themselves; and it is a republic because the Government's power is derived from its people.
The Townshend Acts would use the revenue raised by the duties to pay the salaries of colonial governors and judges, ensuring the loyalty of America's governmental officials to the British Crown. However, these policies prompted colonists to take action by boycotting British goods.
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