The American Economy: A Historical Encyclopedia Vo lume One: Short Entries edited by Cynthia Clark Northrup Santa Barbara, California Denver, Colorado Oxford, England Copyright © 2003 by Cynthia Clark Northrup All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photo- copying, recording, or otherwise, except for the inclusion of brief quotations in a review, without prior permission in writing from the publishers. Library of Congress Cataloging-in-Publication Data The American economy : a historical encyclopedia / edited by Cynthia Clark Northrup. p. cm. Includes bibliographical references and index. ISBN 1-57607-866-3 (2 vols. : hardcover : alk. paper) ISBN 1-57607-867-1 (eBook) 1. United States—Economic policy—Encyclopedias. 2. United States—Economic conditions—Encyclopedias. 3. United States—Social policy—Encyclopedias. 4. United States—Social conditions—Encyclopedias. I. Northrup, Cynthia Clark, 1959– HC102.A66 2003 330.973'003—dc22 2003020334 07 06 05 04 03 10987654321 This book is also available on the World Wide Web as an e-book. Visit www.abc-clio.com for details. ABC-CLIO, Inc. 130 Cremona Drive, P.O. Box 1911 Santa Barbara, California 93116–1911 This book is printed on acid-free paper . Manufactured in the United States of America ∞ Contents List of Short Entries, vii List of Essays and Primary Source Documents, xiii Acknowledgments, xv A Note on Using the Encyclopedia, xvii Introduction, xix The American Economy: A Historical Encyclopedia VOLUME ONE:SHORT ENTRIES A&M Records v. Napster Inc. to Ya zoo Land Companies, 1–316 VOLUME TWO:ESSAYS AND PRIMARY SOURCE DOCUMENTS Essays: Advertising to Welfare State, 317–510 Primary Source Documents, 511–634 Selected Bibliography, 635 About the Editor and Contributors, 665 Index, 669 v [...]... to pay their debts to British creditors The Marquis of Rockingham repealed the Stamp Act for this reason During the Stamp Act crisis, Americans argued that there was a difference between a tax for revenue and a tax for the regulation of trade—Parliament, the Americans said, lacked the authority to pass the former but not the latter The Townshend Acts (17 67) were Parliament’s attempt to establish an... American policy In August 19 61, the United States and the Organization of American States (OAS) signed the Charter of Punta del Este, which formally created the Alliance for Progress The alliance would provide technical advice and financial assistance to Latin American nations interested in upgrading their economic positions, increasing their agricultural output, and improving their systems of education... System, dealt primarily with agricultural and rural sectors It was created by the Federal Farm Loan Act of 19 16 (FFLA) and acts as a network of cooperative lending institutions that operates as a direct lender to agricultural producers, agricultural cooperatives, farm-related businesses, and rural residents Another GSE, the Federal Agricultural Mortgage Corporation, was established in 19 88 and acts as a secondary... administration in the mid -19 70s established a formidable army of populist state attorneys general under the umbrella of the National Association of Attorneys General (NAAG) They challenged mergers approved by federal agencies and launched parens patraie (the state acting as the father of the country”) suits against manufacturers guilty of vertical price maintenance The conservative, antipopulist “Chicago School”... longer has a place—if it ever did—in the lexicon as a nickname for Alaska, given the actual and potential reserves of Alaskan oil and gas, not to mention the abundance of coal The oil field at Prudhoe Bay, discovered by Atlantic Richfield in 19 68, has the potential productive capacity of 10 billion barrels—twice as much as the nextlargest field ever found in the United States, that of East Texas in 19 30 As... ownership loans to beginning farmers and ranchers In 19 92, the average age of farmers had increased to 52 years of age Twice as many farmers were 60 or older as were under the age of 35 The increased cost of farming since the 19 70s and the farm crisis of the 19 80s had washed many younger farmers out of the business To get the loans, the beginning farmer had to draw up a detailed 10 -year plan of action for... stocks of smaller companies not traded on the New York Stock Exchange In 19 53 the name changed again, this time to the American Stock Exchange By the 19 60s, the exchange had introduced state-of -the- art computer technology that by the 19 70s included display screens with data about the equities market Always aware of the need to remain on the cutting edge, the American Stock Exchange entered into an agreement... Island, Connecticut, Maryland, Delaware, and Kentucky A third-party candidate, William Wirt of the Antimasonic Party, won Vermont Jackson carried all the rest The American System, as a viable political program, never recovered from the defeat —Robert P Sutton References Dangerfield, George The Era of Good Feelings New York: Harcourt, Brace and World, 19 52 ——— The Awakening of American Nationalism 18 15 18 28... (17 91) , 517 Treaty between the United States of America and the French Republic with Conventions (Louisiana Purchase, 18 03), 549 Treaty of Guadalupe Hidalgo (18 48), 554 Gadsden Purchase Treaty (18 53), 562 Homestead Act (18 62), 565 Emancipation Proclamation (18 63), 567 Timber Culture Act (18 73), 569 Timber and Stone Culture Act (18 78), 570 Sherman Anti-Trust Act (18 90), 572 Panama Canal Treaty of 19 03,... laws through criminal and civil actions The Federal Trade Commission (FTC) and private citizens may also sue civilly Similar laws ratified as early as 18 80 in some states are enforced through the offices of state attorneys general The 18 90 Sherman Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade Violations are usually punished as criminal . (OPEC), 217 Pan American Union, 219 Panama and the Panama Canal, 219 Panic of 18 19, 220 Panic of 18 37, 2 21 Panic of 18 73, 2 21 Panic of 18 93, 222 Panic of 19 07, 222 Parity, 223 Patronage, 223 Payne-Aldrich. 15 7 Iran-Contra (19 86 19 87), 15 8 Irrigation, 15 8 Isolationism, 15 9 Jackson, Andrew, (17 67 18 45), 16 1 Japan, 16 2 Japanese Oil Embargo (19 40 19 41) , 16 2 Jay’s Treaty (17 96), 16 3 Jungle, The (19 06), 16 3 Keating. 19 3 Nasdaq, 19 3 National Aeronautics and Space Administration (NASA), 19 4 National Bank Act of 18 63, 19 4 National Cordage Company, 19 5 National Currency Act of 18 63, 19 5 National Defense Education Act