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FAQ

a. the economy finally flourished and expanded. b. was repaired and the state banking system created a new level of prosperity. c. quickly collapsed into depression. d. went through all of the above.

D. went through all of the above When Martin Van Buren took over the Presidency from his successor, Andrew Jackson, the nation's financial situation seemed to be going fairly well. Jackson had successfully lowered the national debt to its lowest point since 1791 (a trifle $33,733.05), and the economy seemed to be growing rapidly. Probably the most blame for the panic is placed most often on President Andrew Jackson and his attitude toward the Bank of the United States. Jackson is famous for having opposed the bank, which he not only refused to recharter, but from which he withdrew funds (an act which earned him a congressional censure) in order to promote private banking and a more free economy. Jackson viewed soft money (that is, paper currency which holds no value on its own, but represents some sort of accepted value) in a highly negative light, much preferring banks doing business in hard money (gold or silver currency). As a result of the new power wielded by state banks, and the lack of regulation from a national banking system, the economy did flourish for a time - bank loans skyrocketed, the economy flourished, and foreign nations began investing heavily in the financial opportunities of America. The boom was short lived, however, as inflation increased dramatically as banks printed exorbitant amounts of paper money. This was exacerbated considerably by one of the most controversial aspects of Jackson's economic policy - the issuance of a Specie Circular (or Coinage Act) which was an attempt to protect land speculators in the west from being left with devalued currency in the event of inflation. As a result of this policy, however, the value of paper money began to deflate rapidly, providing the opposite of the intended effect, leaving many holding nearly worthless money.

I see many computer UPS out in the market, but do UPS meant for whole houses exist? I live in a small town, and we have brownouts often, lasting for a split second up to 20 seconds at a time. A lot of our electronics get messed up 'coz of this. We also have a back-up generator. Is there a way to connect the generator to the UPS so that if we get a blackout lasting for hours at a time, we have time to turn on the generator without power dying.

Critical commercial and government facilities, like hospitals and air traffic control centers, have power systems that combine back-up battery banks with generators (usually diesel powered) to provide continuous power. These systems are custom engineered for each facility. No doubt one could be built for a residential application, but it would be expensive.

I need to get power of attorney at a bank. My mother recently died. My father's name is on the account but he is unable to make financial decisions.

Either your dad would have to sign a power of attorney and have it notarized, or you'd have to go to court and have him declared incompetent. If he's competent but just unable to make financial decidions, go to the bank with him, they can help you with the paperwork needed to conduct financial transactions on his behalf.

I am researching how banking was performed in the 1860s in the Territory of Colorado. I know its a bit unsual, but my son asked me some questions that I could not find answers too about the banking practices. Thank you.

Before the Federal Reserve was put in charge of regulating the monetary system there was no national regulatory control of banks. States had some laws, but legislatures can be swayed and manipulated by those with money. In those days, the financial power of a bank was based on the actual money it had on deposit, and usually backed by the gold in it's physical possession. There was no deposit insurance, and if the banker turned out to be a crook, or the bank experienced a run, where the depositors lost confidence in the institution and withdrew their money, the other depositors were just out of luck. Try the Federal Reserve website, and the Federal Deposit Insurance Corporation for your data. They used to publish comic books to educate schoolchildren about subjects such as this.

Iam not an economic genius, but.Lets say there's a country, where the banks are controlled by the government. Could the government of that country add a few zero's to the end of their balance of money, in effect making money. With the digital age with paper money becoming less apparent, do you think that this is possible? A country in which it's economic growth is unlimited?

Of course it can and has been done, innumerable times. Of course, it then results in massive inflation and the money becomes worthless.

A power house on a river bank supplies power to a plant on the other side and 5 km. downstream. If the river is 3 km wide and the power line costs Php 4,000 per km. (Php is Philippine peso) on land and Php 5,000 per km. in water. Please show the detailed solution this problem is in differential calculus

A power house B C D plant we shall solve in general form then substitute values let AB w BC x BD wy cost ratio/km water:land k (5/4) angle BAC Θ dist. over water w?secΘ, dist. over land w(y - tanΘ) time C ∞ k?secΘ +(y - tanΘ) dC/dΘ k?secΘ?tanΘ - sec?Θ (ksinΘ - 1) / cos?Θ for minima, sinΘ 1/k which yields x w /√(k? - 1) 3/√((5/4)?-1) 2.25 km ----- you should now be easily able to compute the minimum cost

If a house is bank owned because of foreclosure, will there soon be no electric? Does the bank pay for it? Or do they wait until the electric bill expires?

Usually, yes. Why would they want to pay the bill whent hey don't have to? Electric bills don't expire

I recently took over power of attorney for my grandparents and noticed that they have a lot of miscellaneous monthly bank debits that they aren't aware of. One of them is a monthly charge from STC Travel Entertainment. I have no idea what it is and have been unsuccessful in tracking down anything on the internet. I need to cancel it for them, please help!

Tell the bank that now that you have power of attorney, you have discovered a fraudulent charge on their account. See my source. You should probably close the account and open a new one for them.