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On August 24, after centuries of dormancy, Mount Vesuvius erupts in southern Italy, devastating the prosperous Roman cities of Pompeii and Herculaneum and killing thousands. The cities, buried under a thick layer of volcanic material and mud, were never rebuilt and largely forgotten in the course of history. In the 18th century, Pompeii and Herculaneum were rediscovered and excavated, providing an unprecedented archaeological record of the everyday life of an ancient civilization, startlingly preserved in sudden death.
The ancient cities of Pompeii and Herculaneum thrived near the base of Mount Vesuvius at the Bay of Naples. In the time of the early Roman Empire, 20,000 people lived in Pompeii, including merchants, manufacturers, and farmers who exploited the rich soil of the region with numerous vineyards and orchards. None suspected that the black fertile earth was the legacy of earlier eruptions of Mount Vesuvius. Herculaneum was a city of 5,000 and a favorite summer destination for rich Romans. Named for the mythic hero Hercules, Herculaneum housed opulent villas and grand Roman baths. Gambling artifacts found in Herculaneum and a brothel unearthed in Pompeii attest to the decadent nature of the cities. There were smaller resort communities in the area as well, such as the quiet little town of Stabiae.
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The beginning of the Great Depression in the United States is considered to be August 1929, when the industrial production index reached its peak. At that time, money was tightly tied to gold reserves, which limited the money supply. At the same time, production grew. At the turn of the century, new types of goods such as cars, planes, radios appeared. The number of goods in mass and by assortment has increased many times. As a result of the limited money supply and the growth of the commodity supply, strong deflation arose - a fall in prices, which caused financial instability, the bankruptcy of many enterprises, and loan defaults. A powerful multiplier effect has hit even growing industries.
From the standpoint of monetarism, the US Federal Reserve monetary policy triggered the crisis. A sharp decline in money supply by one third between August 1929 and March 1933 was a huge brake on the economy, and was the result of the incompetence of the Fed leadership.
This period was characterized, on the one hand, by very powerful technical changes, and on the other, by the abundance of capital, which allowed both updating capital and expanding stock exchange operations, as a result of which the speculative “bubble” increased.
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The British turned to their allies, French, Belgians, Polish, Americans, for more troops to fight on the may battle fields in which the war was fought.
The Anglo–Sudan War and the Sudanese Mahdist Revolt.
