schwert (1989) identifies puzzles of stock market volatility in the united states analyzing data for market volatility for (approximately) the past 200 years.
The volatility of U.S. stocks is 33 percent lower during times of war and hostilities. Even though it would appear that World Wars I and II would increase uncertainty, this is still the case. The "war conundrum" was one of the most unexpected findings from two centuries of stock volatility data, according to a seminal research by Schwert (1989). We offer a solution to the conundrum: because of significant government spending, business profits are easier to predict during warfare. Using recently created data on more than a century's worth of defense spending, we evaluate this notion. Defense spending, according to the overall research, lowers stock volatility. Defense spending predicts reduced stock volatility for companies that make military equipment, according to the sector level regressions.
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by the time of the american revolution, many american colonists had generally come to believe that the creation of a republic would solve the problems of monarchical rule became a republic would establish
The American Revolution of 1775-1783 was an important turning point in the history of the United States. This war of independence was fought largely over political and economic grievances against the British monarchy.
By the time of the revolution, many American colonists had come to believe that the creation of a republic would solve the problems of monarchical rule. This belief was based on a variety of factors, including increasing dissatisfaction with the British monarchy, the influence of the Enlightenment, and the example of the Roman Republic.
By the time of the American Revolution, the American colonists had become increasingly dissatisfied with the rule of the British monarchy. The monarchy had imposed a variety of taxes on the colonists, including the Stamp Act of 1765 and the Townshend Acts of 1767. In addition, the colonists had been denied the right to self-governance, as the British Parliament had passed the Coercive Acts in 1774 in response to the colonists’ protests.
The colonists had also been subject to the whims of an increasingly distant and oppressive monarchy, as the British had appointed governors and other officials to rule over the colonies without regard for the colonists’ wishes. All of these factors had led to an increasing resentment of the British monarchy among the colonists.
The Enlightenment had also played a role in the colonists’ desire for a republic. The Enlightenment was an intellectual and scientific movement that emphasized the importance of reason and natural law. Enlightenment thinkers such as John Locke, Thomas Paine, and Thomas Jefferson argued that governments should be limited in order to protect the rights of individuals.
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During the 1860 presidential election, Abraham Lincoln promised to:
OA. abolish slavery by the end of his first term.
OB. give more power to state governments.
OC. shift the country toward an agricultural economy.
D. prevent states from leaving the Union.
Answer: During the 1860 presidential election, Abraham Lincoln promised to:
D. prevent states from leaving the Union.
Explanation:
During the 1860 presidential election, Abraham Lincoln promised to prevent states from leaving the Union. This was a significant issue during that time because several southern states were considering secession from the United States due to their concerns about the future of slavery.
Lincoln's main goal was to preserve the Union and prevent it from breaking apart. He believed that allowing states to secede would weaken the country and undermine the principles of democracy. In his inaugural address in 1861, Lincoln made it clear that he would use force if necessary to keep the states united.
One of the key events that led to the secession crisis was the election of Lincoln as president. Many southern states felt that his election, as a Republican candidate who opposed the expansion of slavery into new territories, threatened their way of life and their ability to maintain slavery.
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Which of the following individuals led large revivals in his home state of Connecticut and helped turn the tide of the church's conflict with Enlightenment theology?
Lyman Beecher
Large-scale revivals were led by Lyman Beecher in his native Connecticut, and he assisted in reversing the church's opposition to enlightenment theology.
What is the central idea of the Enlightenment?
The first secularized theories of psychology and ethics emerged during the Age of Enlightenment. According to John Locke, the human mind is a tabula rasa at birth, a blank canvas on which experience can boldly and freely write, forming the unique character in accordance with the unique experience of the world. Original sin or other purportedly inherent qualities, such as goodness, were untrue. In a more sinister vein, Thomas Hobbes portrayed people as being motivated only by thoughts of their own pleasure and suffering.
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In July 1863, Lee again invaded the North and clashed with federal forces at the Battle of Gettysburg in Pennsylvania. Instead of defeating the federals on their own territory, Lee himself was defeated. Identify the statements that accurately describe the Battle of Gettysburg.
With over 165,000 men engaged in the battle, Gettysburg is the largest battle ever to have taken place in North America.
Gettysburg was unusual for Lee in that he was on the strategic offense in Northern territory as opposed to being on the strategic defense on Southern ground.
Gettysburg was a crushing defeat for Lee, and his army would never again return to Northern soil.
Lee invaded the North once more in July 1863, this time engaging federal soldiers in combat in Pennsylvania at the Battle of Gettysburg.
What is the Gettysburg Battle?During the American Civil War, on July 1–3, 1863, Union and Confederate soldiers engaged in combat in and around the Pennsylvanian town of Gettysburg.
Which of the following best sums up the Battle of Gettysburg?Gettysburg is the biggest fight that has ever taken place in North America, with nearly 165,000 soldiers taking part.
Being on the strategic offense in Northern territory rather than the strategic defense on Southern terrain made Gettysburg unique for Lee.
Lee suffered a humiliating loss at Gettysburg, and his army never recovered.
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In 1919, texas did which of the following, marking notable achievements for the progressive movement in the state?
Texas made significant progress for the state's progressive movement in 1919 by:
The Eighteenth Amendment was ratified (prohibition)Passed the 19th Amendment, granting women the right to vote.In the early 1900s, what was the Progressive movement?The early 20th century was a time of commercial prosperity and progressive reform in the United States. The so-called "progressives" fought to make American society better and more stable. They made an effort to strengthen the accountability of big businesses through a range of regulations.
What took place throughout the Progressive movement?A reform tradition that has persisted in American culture since the Progressive Era was founded. Due to violations of federal law, monopolies were dismantled. Numerous trade unions, professional and civic organizations, and religious and civic organizations were created. They made people and communities' lives better.
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which statement is not true about the indus valley civilization? responses they made tools, pots, pans, and toys. they made tools, pots, pans, and toys. they worshipped one god who was believed to control nature and agriculture. they worshipped one god who was believed to control nature and agriculture. they built a granary to hold surplus wheat and barley. they built a granary to hold surplus wheat and barley. they developed sophisticated water systems. they developed sophisticated water systems.
Answer: They developed sophisticated water systems.
Explanation: They usually got their water from nearby rivers or lakes. They did not have advanced or sophisticated water systems other than sometimes boiling their water, which I don’t think they did because they did not know about germs and bacteria back then.
What didn't Argo submersible need that was different from other Submersibles?
Which statement best describes the cause of increased urbanization in the
late 19th and early 20th centuries?
A. More people moved to cities looking for cheap housing.
B. More people moved to cities because transportation was better.
C. More people moved to cities looking for better work opportunities.
D. More people moved to cities because there was better shopping.
More people moved to cities looking for better work opportunities best describes the cause of increased urbanization in the late 19th and early 20th centuries. The correct option is C.
What caused urbanization in the late 19th century?
Rapid urbanization resulted from the industrialization of the late 19th century. People started migrating from rural areas to major urban areas as a result of the expanding factory industries, which greatly increased the number of job opportunities in cities. These numbers have increased due to immigrants and minorities.
Many immigrants came to the United States in search of better living conditions, better employment opportunities, or both. The manufacturing industry was altered by new technologies, which also widened the wealth-poverty gap. Urban areas became crowded as rural Americans migrated there.
Thus, the ideal selection is option C.
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Which Pacific South American country was ruled by religious leaders after
winning its independence?
A. Ecuador
B. Bolivia
C. Chile
O D. Peru
Answer:
B. Bolivia was ruled by religious leaders after winning its independence.
Explanation:
After winning independence from Spain in 1825, Bolivia was ruled by a series of military and civilian leaders, including several who were affiliated with religious orders. The most prominent of these was Andrés de Santa Cruz, who served as President of Bolivia from 1829 to 1839 and was a member of the Order of Preachers (Dominicans). During his tenure, Santa Cruz implemented a number of reforms aimed at improving the country's economic and social conditions, including the establishment of a national university and the construction of roads and other infrastructure projects. After Santa Cruz was overthrown in a coup in 1839, Bolivia was again ruled by a series of military leaders, and it was not until the adoption of a new constitution in 1880 that civilian rule was reestablished in the country
Which argument would a Federalist make to support ratification of the Constitution?
Group of answer choices
The Constitution will allow states to establish banks to stabilize the national economy.
The Constitution will enable states to nullify laws that are harmful to citizens.
A republican system of government will better represent large states.
A strong federal government will be more stable than a loose confederation of states.
An argument that a Federalist would make to support the Constitution's ratification is D. A strong federal government will be more stable than a loose confederation of states.
Why did the Federalist favor the Constitution ?In order to bring the many states together and forge a stronger nation, federalists backed the ratification of the new Constitution and held that a larger national government with more authority was necessary.
Large Northern landowners, conservative small farmers and company owners, affluent merchants, clergy, judges, lawyers, and professions all belonged to the Federalist party. They supported representative, as opposed to direct, democracy, weaker state governments, a strong central government, indirect election of government officials, longer term restrictions for officeholders.
Federalists believed that the Constitution was necessary to preserve the freedom and independence that the American Revolution had ushered in. The Federalists undoubtedly possessed a new political theory, but they believed that protecting the Revolution's social gains was their most important task.
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The reasons for African colonisation were mainly economic, political and religious. During this time of colonisation, an economic depression was occurring in Europe, and powerful countries such as Germany, France, and Great Britain, were losing money. Africa seemed to be out of harm’s way and had an abundance of raw materials from which Europe could make money from. Due to cheap labour of Africans, Europeans easily acquired products like oil, ivory, rubber, palm oil, wood, cotton and gum. These products became of greater significance due to the emergence of the Industrial Revolution. Africa’s colonisation was also as a result of European rivalries, where Britain and France had beenin a dispute since the Hundred Year’s War. These countries became involved in a race to acquire more territory on the African continent, but this race was open to all European countries. Britain had had some success in halting the slave trade around the shores of Africa. But inland the story was different -- Muslim traders from north of the Sahara and on the East Coast still traded inland, and many local chiefs were reluctant to give up the use of slaves.
The reasons for African Colonisation have been in particular economic, political and religious. all through this time of colonisation, an economic melancholy turned into going on in Europe, and powerful nations together with Germany.
Colonists got here to America because they desired political liberty. They wanted spiritual freedom and economic possibility. the united states is a rustic in which person rights and self-government are essential.
Colonialism made African colonies structured by way of introducing a mono- cultural economic system for the territories. It additionally dehumanized African Labour force and investors. It compelled Africans to paintings in colonial plantations .
Christianity became one justification that eu powers used to colonize and take advantage of Africa. via the dissemination of Christian doctrine, European international locations along with extraordinary Britain, France, and the Netherlands sought to train and reform African way of life.
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Select the correct answer from each drop-down menu
Joining__1__after__2__was part of the US foreign policy of__3__
1_
A) the World Trade Organization
B) the Marshall Plan
C) the League of Nations
D) the North Atlantic Treaty Organization
2_
A) the Cold War
B) the Gulf War
C) World War I
D) World War II
3_
A) isolationism
B) containment
C) humanitarianism
D) appeasement
Answer:
D, D, B
Explanation:
the british finally agreed to conede to the united states the disputed oregon territory between the columbia river. True or False
The statement that the British finally agreed to concede to the United States the disputed Oregon territory between the Columbia River is true.
The Treaty of Oregon was signed between the United States and Great Britain on June 15, 1846, which ended the 28 years of joint occupancy of the Pacific Northwest. The treaty established the 49th parallel as the border between the two countries. The British finally agreed to concede to the United States the disputed Oregon territory between the Colombia River and the forty-ninth parallel as they did not really want to fight a war over territory Americans might overrun. Hence, the statement is true.
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Which rhetorical devices can enhance an author’s message?
A. rhetorical question
B. synecdoche
C. asyndeton
D. all of the above
In Roman law after the Empire was Christianized, Jews wereA)forbidden from holding public office, but allowed to testify in court against Christians.B)granted equal rights with Christians.C)forbidden from holding public office and testifying in court against Christians.D)permitted to hold public office, but forbidden from testifying in court against Christians.
Jews were covered by Roman law when the Empire became Christian. not allowed to testify in court against Christians or occupy governmental office. The right answer is A.
Judea, the Jewish homeland, was captured by the Romans in 63 B.C. As soon as the Jews refused to worship the Roman gods, Rome realized it had a problem. Rome bowed down. The Jews were not forced to worship the Roman deities. With the help of this approach, Rome was able to continue receiving tax revenue. Rome soon made Judaism a recognized religion and permitted Jews to practice their religion openly. Jews in the empire were required to pay a yearly fee to Rome's Temple of Jupiter. However, Jews continued to follow their religion because Judaism was still a recognized religion. Jews were forbidden from entering the city under penalty of death. On the anniversary of the Great Wall's fall, they were only permitted entry on one day each year.
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when the united states dollar appreciates against the euro, which of the following will most likely happen?
The US dollar appreciates against the euro when U.S. tourists will pay fewer dollars for trips to Europe.
What happens if the U.S. dollar appreciates against the euro?When the U.S. dollar appreciates against the euro, the dollar's exchange rate increases relative to the euro. So, the price of a commodity in Europe is much lower than before as the dollar's value is more than the value of the euro.When a country's currency appreciates in relation to foreign currencies, foreign goods become cheaper in the domestic market and there is overall downward pressure on domestic prices. In contrast, the prices of domestic goods paid by foreigners go up, which tends to decrease foreign demand for domestic products.
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What is the banning conference? Which place did it start it? Who is associated with starting it? When did it emerge? What happened with the banning conference? How did the banning conference influence the course of history?
The Berlin Conference, also known as the Congo Conference or West Africa Conference, was a European-American gathering in Berlin.
14 European powers, as well as the United States.February 26, 1885.During the conference, the European powers divided Africa into spheres of influence, with each power claiming certain territories as its ownWhat is the Berlin conference?Generally, The Berlin Conference, also known as the Congo Conference or the West Africa Conference, was a meeting of European powers and the United States that took place in Berlin, Germany, from November 15, 1884 to February 26, 1885. The conference was called by the German Chancellor, Otto von Bismarck, and was intended to settle disputes between the European powers over territories in Africa and to establish guidelines for future European colonization of the continent.
The conference was attended by representatives of 14 European powers, as well as the United States. The main powers represented at the conference were Germany, France, the United Kingdom, Portugal, and Belgium.
During the conference, the European powers divided Africa into spheres of influence, with each power claiming certain territories as its own. The conference also established rules for trade and the exploitation of natural resources in Africa, and it set out guidelines for the treatment of indigenous populations.
The Berlin Conference had a significant impact on the course of African history, as it effectively divided the continent among the European powers and established a system of colonization that would shape the region for decades to come. The conference is often seen as a turning point in the history of Africa, as it marked the beginning of the scramble for Africa and the formal partition of the continent among the European powers.
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CQ
What is the Berlin conference? Which place did it start it? Who is associated with starting it? When did it emerge? What happened with the Berlin conference? How did the Berlin conference influence the course of history?
in 1492, the native american population: group of answer choices lived exclusively in villages of no more than 1,000 individuals. declined catastrophically due to exposure to the black plague. lived mostly in central and south america. was at least 100 million.
In 1492, the Native American population lived mostly in central and south America. (Option C)
Native Americans, also called American Indians, First Americans, Indigenous Americans, and other terms, refer to the Indigenous peoples of the mainland United States. At the present time, there are 574 federally recognized tribes living within the US with about fifty percent, are associated with Indian reservations. In 1492 at the start of European colonization of the Americas, Native American population mainly resided in central and south America. Due to the colonization, there was a precipitous decline in Native American population because of new diseases, wars, ethnic cleansing, and enslavement.
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While it is reasonable to assume that L’Ouverture was a revolutionary, the historian who uses the dictatorial proclamation to advance the thesis that all Haitians were revolutionaries in 1801 would be:
-Offering an ad hominem argument
-Reasoning by analogy
-Making a generalization
-Presenting relevant evidence
While it is reasonable to assume that L’Ouverture was a revolutionary, the historian who uses the dictatorial proclamation to advance the thesis that all Haitians were revolutionaries in 1801 would be Making a generalization. Thus option (c) is correct.
Who is a revolutionary?A revolutionary is a person who either participates in, or advocates a revolution .The term revolutionary can also be used as an adjective, to refer to something that has a major, sudden impact on society or on some aspect of human endeavor.
"The revolutionary is a doomed man. He has no private interests, no affairs, sentiments, ties, property nor even a name of his own. His entire being is devoured by one purpose, one thought, one passion - the revolution.
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between 1900 and 1920, edwin s. porter and d. w. griffith were among the first to include what in movies?
As a result of his work as a projectionist at the Eden Musée in the early 1900s, Porter most likely invented the method of continuity editing.
Porter most likely developed the technique of continuity editing in the early 1900s as a result of his work as a projectionist at the Eden Musée. It was quite similar to building a single film out of a number of discrete shots to choose one-shot films and arrange them into a 15-minute program for screen display. By his own admission, Porter was also influenced by other directors, particularly Georges Méliès, whose A Trip to the Moon (1902) he got to know well while copying it for Edison's unauthorized release in October of that year.
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Frere's speech is best understood in the context of which of the following?
Answer:
C. Government expanding and consolidating their empire using their increasing industrial powe.
appropriate career development goals for elementary school children include all of the following except:
Elementary school pupils should have career development goals that assist them to build fundamental abilities and awareness in the following areas:
awareness of the advantages of educational performance awareness of the link between work and learning awareness of the relationship between work and learning basic skills to comprehend and apply career information awareness of the importance of personal responsibility and excellent study habits.What is the definition of an elementary school in the United States?An elementary school is a primary school that serves as the principal point of delivery of primary education in the United States for students aged 5 to 11, between pre-kindergarten and secondary education. Primary education often focuses on fundamental academic learning, occupational skills, and socializing skills, exposing students to the wide variety of information, abilities, and behavioral adjustments required to thrive in life – and especially in secondary school.
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early in his administration, carter tried to make human rights the centerpiece of his foreign policy. it had both positive and negative consequences. identify how carter enacted his human-rights agenda in his dealings with the following nations. egypt argentina iran panama carter signed a treaty transferring control of the canal
Early in his administration, carter tried to make human rights the centerpiece of his foreign policy.
1. Carter cut off aid to the dictatorial regime that treated its people poorly.
Correct label:
Argentina
2. Carter did not back the anti-communist dictator, Somoza, in his struggle against the opposing Sandinistas.
Correct label:
Nicaragua
3. Carter signed a treaty transferring control of the Panama Canal by 2000.
Correct label:
Panama
A country's foreign policy or external coverage is its objectives and sports on the subject of its interactions with other states, unions, and different political entities, whether bilaterally or through multilateral structures.
The overseas policy is the mechanism country wide governments use to guide their diplomatic interactions and relationships with other countries. A kingdom's foreign coverage displays its values and goals, and enables pressure its political and monetary aims within the international area.
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based on the ancient egyptian convention of depicting human form, how are the pharaoh menkaure and khamerenebty portrayed? multiple select question. facing straight forward, with the p
The pharaoh menkaure and khamerenebty portrayed with idealized facial features and bodies, Facing straight forward, with the pharaoh's arms arms stiff at his sides.
The two figures are supported by a common back pillar and stand side by side on a straightforward, squared base. They both look forward, however Menkaure's head is slightly bent to the right; the image was probably initially placed within an architectural niche to give the impression that they were leaving the building. The king's broad-shouldered, young torso is only covered by a conventional, short shendjet-style kilt, and his head is adorned with the classic, striped nemes headdress, which is best known as Tutankhamun's mask, as well as a fake royal beard.
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the attempt to document and understand the japanese internment camps established in the united states during world war ii constitution
Many Americans feared that individuals with Japanese heritage would spy on or sabotage American interests on behalf of the Japanese government.
The United States interned more than 127,000 Japanese-Americans during World War II out of fear rather than proof. The Pearl Harbor attack also sparked a wave of national security anxiety, particularly on the West Coast. Just two months later, in February 1942, President Roosevelt, acting in his capacity as commander in chief, issued Executive Order 9066, leading to the incarceration of Japanese Americans. The directive gave the Secretary of War and military leaders the power to relocate all people seen as threats from the West Coast to internment camps further inland, which the administration referred to as "relocation centres."
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nafta: group of answer choices created a free-trade zone for the united states, england and canada was hailed by organized labor raised tariffs significantly created a free-trade zone for the united states, mexico and canada
A free-trade area was established for the US, Mexico, and Canada as a result of NAFTA. The right response, in this case, is option A.
The North American Free Trade Agreement (NAFTA), which was signed by Canada, Mexico, and the United States in 1992 and came into force on January 1, 1994, created a free-trade zone in North America. The bulk of commodities produced by the signatory countries was immediately free of tariffs thanks to NAFTA.
The free trade pact that the United States and Canada signed in 1988 served as the basis for the accord. NAFTA provides measures for the protection of intellectual property rights and almost all trade and investment obstacles between the three North American nations.
Complete question:
NAFTA:
a) created a free-trade zone for the United States, Mexico, and Canada.
b) created a free-trade zone for the United States, Great Britain, and Canada.
c) was hailed by organized labor and environmental groups.
d) raised tariffs significantly against imports from South America.
e) created a free-trade zone for the United States, Japan, and Western Europe.
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the dome of the rock's location and accommodation of circumambulation represent the islamic belief that
The Islamic belief is that the minaret combines elements of Byzantine and Egyptian religions to reflect Islamic prayer requirements in the dome of the rock's location and accommodation.
On the traditional location of Adam's grave, Abraham's preparation for Isaac's sacrifice, and the Temple of Solomon that the Romans destroyed, and where the sanctuary was built. It contains the rock that Muslims eventually came to think Muhammad used to ascend to Heaven during the Night Journey.
In a city that has long been and continues to be revered by both Jews and Christians, the Dome of the Rock symbolized the arrival of the new faith. Even now, the Noble Enclosure, from which the building rises, dominates the skyline of the sacred city. The site of the building has religious significance, therefore the justifications for its placement are implied in the idea of a structure.
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declaration of the causes and necessity of taking up arms, july 1775 the issuing of the declaration in the excerpt best serves as evidence of the
Declaration of the causes and necessity of taking up arms, july 1775 the issuing of the declaration in the excerpt best serves as evidence of the efforts of colonists to protect their rights as English subjects.
The Second Continental Congress's Resolution, passed on July 6, 1775, entitled "Declaration of the Causes and Necessity of Taking Up Arms," explains why the Thirteen Colonies engaged in what is known as the American Revolutionary War.
The colonists had frequently petitioned for the remedy of their problems over a ten-year period, according to the Declaration, only to have their requests disregarded or refused. The Declaration argues that the colonies do not yet want independence from the mother country, despite the fact that British troops have been dispatched to enforce these illegitimate actions.
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in the 9th century ce, slaves from east africa led this guerrilla war that lasted for fourteen years and nearly toppled the abbasid caliphate. question 30 options: yanga insurrection zanj rebellion fatimid revolt third servile war
Slaves from East Africa conducted a fourteen-year guerrilla conflict that threatened to overturn the Abbasid Caliphate in the ninth century CE. The Zanj Uprising.
What did the ZANJ uprising accomplish?The insurrection, which was started close to Basra in modern-day southern Iraq and was led by a man named Ali ibn Muhammad, involved Bantu-speaking people (Zanj) who had been captured off the coast of Southeast Africa and brought to the Middle East primarily for the purpose of draining the area's salt marshes.
That were the Zanj who resisted the Caliphate of Abbas?Slaves, generally of African descent, rose up in Southern Iraq in 869 against their masters—who were primarily based in the city of Basra—and the Abbasid caliphate. The severe living conditions of the slaves, known as Zanj in the texts, led to their uprising.
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What effect did this document have?
A. It freed enslaved persons in Confederate states.
B. It abolished slavery in all Union-held states and territories.
C. It declared enslaved persons in rebellious states to be free.
D. It barred the extension of slavery beyond Confederate borders.
Use the Emancipation Proclamation to answer the question
Whereas, on the twenty-second day of September, in the year of our Lord one thousand eight hundred and sixty-two, a proclamation was issued by the President of the United States, containing, among other things, the following, to wit:
"That on the first day of January, in the year of our Lord one thousand eight hundred and sixty-three, all persons held as slaves within any State or designated part of a State, the people whereof shall then be in rebellion against the United States, shall be then, thenceforward, and forever free; and the Executive Government of the United States, including the military and naval authority thereof, will recognize and maintain the freedom of such persons, and will do no act or acts to repress such persons, or any of them, in any efforts they may make for their actual freedom.
"That the Executive will, on the first day of January aforesaid, by proclamation, designate the States and parts of States, if any, in which the people thereof, respectively, shall then be in rebellion against the United States; and the fact that any State, or the people thereof, shall on that day be, in good faith, represented in the Congress of the United States by members chosen thereto at elections wherein a majority of the qualified voters of such State shall have participated, shall, in the absence of strong countervailing testimony, be deemed conclusive evidence that such State, and the people thereof, are not then in rebellion against the United States."
Now, therefore I, Abraham Lincoln, President of the United States, by virtue of the power in me vested as Commander-in-Chief, of the Army and Navy of the United States in time of actual armed rebellion against the authority and government of the United States, and as a fit and necessary war measure for suppressing said rebellion, do, on this first day of January, in the year of our Lord one thousand eight hundred and sixty-three, and in accordance with my purpose so to do publicly proclaimed for the full period of one hundred days, from the day first above mentioned, order and designate as the States and parts of States wherein the people thereof respectively, are this day in rebellion against the United States, the following…
And by virtue of the power, and for the purpose aforesaid, I do order and declare that all persons held as slaves within said designated States, and parts of States, are, and henceforward shall be free; and that the Executive government of the United States, including the military and naval authorities thereof, will recognize and maintain the freedom of said persons.
And I hereby enjoin upon the people so declared to be free to abstain from all violence, unless in necessary self-defence; and I recommend to them that, in all cases when allowed, they labor faithfully for reasonable wages.
And I further declare and make known, that such persons of suitable condition, will be received into the armed service of the United States to garrison forts, positions, stations, and other places, and to man vessels of all sorts in said service.
And upon this act, sincerely believed to be an act of justice, warranted by the Constitution, upon military necessity, I invoke the considerate judgment of mankind, and the gracious favor of Almighty God.
…
By the President: ABRAHAM LINCOLN
WILLIAM H. SEWARD, Secretary of State.
C. It declared enslaved persons in rebellious states to be free.
The proclamation did not actually free any enslaved persons, as it only applied to areas of the country that were in rebellion against the United States and therefore beyond the control of the federal government.