Great expectations essays and love

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118 See the charts on regional black population shifts at the end of this essay. Migration was a long and vexing question in the South and among African-American communities generally. In 1822, the American Colonization Society (ACS) acquired a small tract of land in the British colony of Sierra Leone in sub-Saharan Africa and named it “Liberia”–a settlement of people “made free.” Approximately 15,000 free blacks from the United States migrated to Liberia over the next 20 years. Though the ACS initially received support from several prominent politicians, vocal objectors and an economic depression in Liberia killed the project by the 1830s. After Reconstruction, the issue of African migration was rekindled; however, many leading blacks, among them John Langston, opposed foreign emigration. “Abuse us as you will, gentlemen,” Langston told Democrats. “There is no way to get rid of us. This is our native country.” Congressional Record , House, 51st Cong., 2nd sess. (16 January 1891): 1480–1482; see also William Cohen, At Freedom’s Edge: Black Mobility and the Southern White Quest for Racial Control, 1861–1915 (Baton Rouge: Louisiana State University Press, 1991).

In 1979,  Paul Volcker , formerly the president of the Federal Reserve Bank of New York, became chairman of the Federal Reserve Board. When he took office in August, year-over-year inflation was running above 11 percent, and national joblessness was just a shade under 6 percent. By this time, it was generally accepted that reducing inflation required greater control over the growth rate of reserves specifically, and broad money more generally. The Federal Open Market Committee (FOMC) had already begun establishing targets for the monetary aggregates as required by the Humphrey-Hawkins Act. But it was clear that sentiment was shifting with the new chairman and that stronger measures to control the growth of the money supply were required. In  October 1979 , the FOMC announced its intention to target reserve growth rather than the fed funds rate as its policy instrument.

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Great expectations essays and love

great expectations essays and love

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