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Historians have identified diverse political, economic, military, religious and social causes of the Indian Rebellion of 1857 (first war of Indian independence). An uprising in several sepoy companies of the Bengal army was sparked by the issue of new gunpowder cartridges for the Enfield rifle in February 1857.
The Indian Rebellion of 1857 was a major uprising in India in 1857–58 against the rule of the British East India Company, which functioned as a sovereign power on behalf of the British Crown. [ 4 ] [ 5 ] The rebellion began on 10 May 1857 in the form of a mutiny of sepoys of the company's army in the garrison town of Meerut , 40 miles (64 km ...
The Panic of 1857 was a financial crisis in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. [ 1 ]
The Indian Rebellion of 1857 was a turning point. While affirming the military and political power of the British, [ 48 ] it led to a significant change in how India was to be controlled by them. Under the Government of India Act 1858 , the East India Company's territory was transferred to the British government. [ 49 ]
The Company rule and the expansion of the British East India Company continued up until the Indian Rebellion of 1857. Ultimately, the Company rule ended with the Government of India Act 1858 following the events of the Indian Rebellion of 1857, [15] although the British East India Company was formally dissolved by Act of Parliament in 1874. [13]
President Buchanan began by thanking "Almighty God for the numerous benefits" bestowed on the country, but he noted that despite abundant harvests, the nation faced severe economic distress. Describing a "deplorable condition" in the economy, he linked the downturn to the "extravagant and vicious system of paper currency and bank credits ...
The global economy is approaching the point of no return courtesy of mounting government debt, believes JPMorgan Chase CEO Jamie Dimon, and it will lead to a massive falling out of markets and ...
The Economy of India under Company rule describes the economy of those regions that fell under Company rule in India during the years 1757 to 1858. The British East India Company began ruling parts of the Indian subcontinent beginning with the Battle of Plassey, which led to the conquest of Bengal Subah and the founding of the Bengal Presidency, before the Company expanded across most of the ...