Proctor, a variant of procurator, is a person who takes charge of, or acts for, another. The word proctor is frequently used to describe someone who oversees an examination or dormitory. The title is used in England in three principal contexts: In law, a proctor is an attorney or solicitor acting in some courts. In religion, a proctor represents the clergy in Church of England dioceses. In education, a proctor is the name of university officials in certain universities, or a supervisor or invigilator during an exam.
Within weeks, thirty-six other states held their own bank holidays in an attempt to stem the bank runs. The banking system was on the verge of collapse. On March 4, Delaware became the 48th and last state to close its banks. Following his inauguration on March 4, 1933, President Franklin Roosevelt set out to rebuild confidence in the nation's banking system. On March 6 he declared a four-day banking holiday that kept all banks shut until Congress could act. A draft law prepared by the Treasury staff during Herbert Hoover's administration, was passed on March 9, 1933.
The National Bureau of Economic Research dates recessions on a monthly basis back to 1854; according to their chronology, from 1854 to 1919, there were 16 cycles. The average recession lasted 22 months, and the average expansion 27.From 1919 to 1945, there were six cycles; recessions lasted an average 18 months and expansions for 35. From 1945 to 2001, and 10 cycles, recessions lasted an average 10 months and expansions an average of 57 months.n 1791, Congress chartered the First Bank of the United States to handle the country's financial needs. The bank had some functions of a modern central bank, although it was responsible for only 20% of the young country's currency.