Banking Reform And The Federal Reserve 1863 1923

Offering new perspectives on the early years of the Federal Reserve system, this book evaluates the banking reform movement and its results. Professor West analyzes the system's first decade in the context of the thought of the period and of what preceded the Federal Reserve Act of 1913. Neither the Act itself nor the actions of the system it created, he maintains, can be understood without knowledge of the banking reform attempts. In this clearly written account of the American central bank, the author demonstrates the relationship between the evolution of monetary ideas and the evolution of an organizational structure. His book will be of great value to students and scholars of economic history, money and banking, institutional economics, and American history.

This book, first published in 1993, examines in detail the bureaucratic and political manoeuvring surrounding the enactment of banking and monetary reforms in the 1930s. Although banking reform influenced the politics of both the Hoover and Roosevelt presidencies, most surveys devote only a few pages to monetary disturbances and the reforms passed as a result.

Examining the regulation of banking in the United States between 1900 and the Great Depression, Eugene Nelson White shows how Congress and the state legislatures tried to strengthen the banking system by creating new institutions, rather than by changing nineteenth-century laws that perpetuated the unit structure of the banking industry. Originally published in 1983. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

"Eminent historian of economics Elmus Wicker examines the events which spurred a series of banking panics beginning in 1893-94, that led to the creation of the U.S. Federal Reserve Bank twenty years later. A serious lacuna exists in the literature on the origins of the Federal Reserve System. What is absent is a fair appraisal of the role Senator Nelson Aldrich, prominent Rhode Island senator, played. Carter Glass captured the acclaim while asserting that Aldrich be granted equal billing with Glass as "fathers" of the Federal Reserve System."--BOOK JACKET.

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ... CHAPTER II HISTORY OF BANKING REFORM MOVEMENT Deficiencies in the national banking system were perceived comparatively early in its history, but did not make themselves felt in a way so serious as to enlist active effort for their correction until about twenty-five years after the system had first become operative. Moreover, during this period of twenty-five years, the difficulties which were most seriously felt were not those that afterward caused most annoyance and led to most active effort for improvement. Probably the first inconvenience that was experienced in the management of the national circulation after the national banking system had been definitely created and the Act had been amended to meet the earlier requirements of the conditions then existing, was the prospect that the supply of Government bonds, available at prices that would enable the banks to put out circulation based thereon, would be insufficient. In 1880-83 this problem had become acute, due to the fact that the twentyyear bonds which had been issued by the Federal Government during the Civil War at 5 and 6 per cent. interest were expiring, and the question what should be done in connection with them was unsettled. This problem was disposed of by refunding the bonds for another twenty years, and thus enabling the national banks to get the securities they needed as a basis for their circulation. With the growth of the great surpluses of revenue during the decade 1880-90, a new type of problem appeared; for the purchases of bonds made by the Treasury Department, in order thus to use up the surplus, had again brought the bonds to a premium and made it questionable whether the maintenance of the circulation on a satisfactory basis providing for the issue of enough of...

In Origins of the Federal Reserve System, James Livingston approaches this controversial topic from a fresh perspective, asking how, during this era, a "new order of corporation men" made itself the preeminent source of knowledge on all significant economic issues and thereby changed the character of public and political discourse in the United States.