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Europeans became more aware of other cultures. They encountered new ideas and knowledge, as well as new foods, spices, cloth, and other exotic goods. Travellers returned to their homes with new ideas and attitudes that led to new ways of thinking about their own lives and their own societies.
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Direct democracy is a form of government that allows citizens to be directly involved in the government decisions.
<span>The Panic was the worst economic crisis to hit the nation in its history to that point. Economic historians are not certain what caused it but point to several possible factors. First, too many people attempted to redeem silver notes for gold; ultimately the statutory limit for the minimum amount of gold in federal reserves was reached and U.S. Notes could no longer be successfully redeemed for gold. Next, the Philadelphia and Reading Railroad went bankrupt. Then, the National Cordage Company (the most actively traded stock at the time) went into receivership as a result of its bankers calling their loans in response to rumors regarding the NCC's financial distress. A series of bank failures followed, and the price of silver fell. The Northern Pacific Railway, the Union Pacific Railroad and the Atchison, Topeka & Santa Fe Railroad all failed. This was followed by the bankruptcy of many other companies; in total over 15,000 companies and 500 banks failed (many in the west). About 12%-18% of the workforce was unemployed at the Panic's peak.
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