Tag Info

New answers tagged

0

The Silk Road was very secure during the peak of the Mongolian Empire, basically the early 13th to 15th centuries. Most of it was subsumed in Mongol controlled territory, and the movements of troops along or around it also acted as a "policing" mechanism. Prior to the Mongols, the nearly-as-ferocious Turks maintained the security over most the Silk Road. ...


-1

Typically I have heard that the merchants would hire armed escorts of professional mercernaries.


4

Mentions of Bandits and robbers: Bandits and robbers were a constant threat on the Silk Road. Xuanzang mentions several encounters with bandits. Near Dunhuang, the Silk Road split in two to skirt the rim of the Taklamakan Desert. The roads met again 1400 miles west at Kashgar. But between these two oases lay the Silk Road's most dangerous terrain. ...


3

Specie Circular: The most direct and immediate effect of the Panic of 1837 was the repeal of the Specie Circular of 1836. The Specie Circular was a highly deflationary policy because it required that Western lands be purchased with specie that just wasn't available. Deflation exacerbates recessions: never good. In May 1838, the Senate repealed the Specie ...


5

Not long ago the Southern African nation of Zimbabwe experienced what economists called hyperinflation. Its currency rapidly lost buying power and plunged in value internationally. At the height of the hyerperinflation on 31 July 2008, the exchange rates were 1 United States dollar for 18,681,527,512 Zimbabwean dollar. The next day, 1 USD was trading for ...


1

An "overnight" change in the value of a currency is a devaluation, not a depreciation. Probably the biggest overnight devaluation ever was the January 31, 1934, devaluation of the dollar from $20 per ounce to $35 per ounce, a 40% devaluation. The money supply was about $8 billion plus at least another $12 billion in gold-backed bonds. So, perhaps the total ...


1

I think the best way to answer this question is to ask: Why did Philadelphia lose its position as the hub of American finance? Philadelphia had first mover's advantage over New York in terms of finance. Unfortunately for Philadelphia, national politics would erase Philly's advantage in the 1830s and 1840s, setting the stage for New York to begin to establish ...



Top 50 recent answers are included