Popular sovereignty, or sovereignty of the peoples' rule, is the principle that the authority of a state and its government are created and sustained by the consent of its people, through their elected representatives (Rule by the People), who is the source of all political power.
he French Catholic Church, known as the Gallican Church, recognised the authority of the pope as head of the Roman Catholic Church but had negotiated certain liberties that privileged the authority of the French monarch, giving it a distinct national identity characterised by considerable autonomy. France’s population of 28 million was almost entirely Catholic, with full membership of the state denied to Protestant and Jewish minorities. Being French effectively meant being Catholic. Yet, by 1794, France’s churches and religious orders were closed down and religious worship suppressed. How did it come to this? What did revolutionaries hope to achieve? And why did Napoleon set out to reverse the situation?
The Great Depression was a period of unprecedented decline in economic activity. It is generally agreed to have occurred between 1929 and 1939. Although parts of the economy had begun to recover by 1936, high unemployment persisted until the Second World War.
<span>The 1920s witnessed an economic boom in the US (typified by Ford Motor cars, which made a car within the grasp of ordinary workers for the first time). Industrial output expanded very rapidly. Sales were often promoted through buying on credit. However, by early 1929, the steam had gone out of the economy and output was beginning to fall.The stock market had boomed to record levels. Price to earning ratios were above historical averages.The US Agricultural sector had been in recession for many more years<span>The UK economy had been experiencing deflation and high unemployment for much of the 1920s. This was mainly due to the cost of the first world war and attempting to rejoin the Gold standard at a pre world war 1 rate. This meant Sterling was overvalued causing lower exports and slower growth. The US tried to help the UK stay in the gold standard. That meant inflating the US economy, which contributed to the credit boom of the 1920s.
</span></span>During September and October a few firms posted disappointing results causing share prices to fall. On October 28th (Black Monday), the decline in prices turned into a crash has share prices fell 13%. Panic spread throughout the stock exchange as people sought to unload their shares. On Tuesday there was another collapse in prices known as 'Black Tuesday'. Although shares recovered a little in 1930, confidence had evaporated and problems spread to the rest of the financial system. Share prices would fall even more in 1932 as the depression deepened. By 1932, The stock market fell 89% from its September 1929 peak. It was at a level not seen since the nineteenth century.
<span>Falling share prices caused a collapse in confidence and consumer wealth. Spending fell and the decline in confidence precipitated a desire for savers to withdraw money from their banks.</span>
Both movements had lasting impacts on the colonies
