Thursday, August 25, 2005

The Next Heritage Festival

Now that the 2005 Ypsilanti Heritage Festival is over, the time has come to start planning the 2006 Ypsilanti Heriage Festival. So, tell me, what do you want in a Heritage Festival? What new things do you want to be in the festival? Do you want a bigger and better Living History Encampment? How about less of the so called arts and crafts from people who come here once a year, to sell their junk and take money out of the city?

I am sure there are meny great ideas out there, and someone is willing to do more than complain. For the Heritage Festival to continue, if you want it to continue, then the community must take part in the planning and make it the festival the community wants.

Any ideas?


At 4:40 PM, Anonymous Anonymous said...

In 1819, the impressive post-War of 1812 economic expansion ended. Banks throughout the country failed; mortgages were foreclosed, forcing people out of their homes and off their farms. Falling prices impaired agriculture and manufacturing, triggering widespread unemployment. All regions of the country were impacted and prosperity did not return until 1824.

The primary cause of the misery seems to have been a change toward more conservative credit policies by the Second Bank of the United States (rechartered in 1816). The wary directors viewed with scorn the unconventional practices of many western banks. The B.U.S. called in its loans, forcing the state banks to do likewise. State loans had been made to land speculators who were unable to repay; banks failed and depositors were wiped out. Conditions were exacerbated by the influx of large quantities of foreign goods into the American market and the slumping cotton market in the South.

Reaction to the Panic depended upon where one lived. Northern manufacturers thought future economic downturns could be avoided by enacting high tariffs that would protect them from foreign competition. Southerners, however, resented the higher prices they had to pay for imports because of the tariff and began a long campaign against those duties, hoping that freer trade would revive the cotton economy. Westerners, taking a still different approach, blamed the bankers and speculators.

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