By Jerry W Markham

This entire monetary heritage of the U.S. specializes in the expansion and enlargement of banking, securities and assurance because the colonial interval. The ebook breaks down into classes of frenzied hypothesis, quiet development, panics and livid growth.

Show description

Read Online or Download A Financial History of the United States (3-volume set) PDF

Best economic history books

The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals

On the peak of the roaring ’20s, Swedish émigré Ivar Kreuger made a fortune elevating cash in the USA and loaning it to Europe in trade for matchstick monopolies. His firm used to be a unprecedented good fortune tale through the nice Depression.

Yet after Kreuger’s suicide in 1932, the genuine nature of his empire emerged. pushed through good fortune to undertake ever-more perilous practices, Kreuger had became to shell businesses in tax havens, fudged accounting figures, off-balance-sheet accounting, even forgery. He created a raft of cutting edge monetary products— a lot of them precursors to tools wreaking havoc in today’s markets. while his Wall highway empire collapsed, thousands went bankrupt.

Frank Partnoy, a widespread commentator on financial ruin for the monetary instances, ny occasions, NPR, and CBS’s “60 Minutes,” recasts the lifestyles tale of a impressive but forgotten genius in ways in which strength us to re-think our rules in regards to the knowledge of crowds, the invisible hand, and the unfastened and unfettered industry.

The Role of Tradition in Japan's Industrialization: Another Path to Industrialization (Japanese Studies in Economic and Social History)

This quantity explores Japan's industrialization from the viewpoint of "indigenous development", concentrating on what can be pointed out as "traditional" or "indigenous" industries. to be had for the 1st time in English, this quantity sheds new mild at the function of "indigenous improvement" and our knowing of the dualistic personality of Japan's monetary improvement.

The Economic Development of Japan: A Quantitative Study

During this e-book Minami stories the final hundred years of Japan's extraordinary fiscal development from the Meiji interval as much as the current day. First he unearths the standards which account for Japan's winning financial take-off in the course of the Meiji interval. Secondly he explains why Japan accomplished a extra swift expense of financial development than different constructed nations.

The IS-LM Model - Its Rise, Fall, and Strange Persistence

For a few twenty-five years after the tip of the second one global battle, the IS-LM version ruled macroeconomics. encouraged by way of the paintings of John Maynard Keynes, this version demonstrates the connection between discount rates, source of revenue, investments, and rates of interest, displaying the purpose at which the interplay of those parts produces “equilibrium” in an economic system.

Additional info for A Financial History of the United States (3-volume set)

Example text

28 The Treasury had some selfish motives in its money market operations. The secretary began reducing deposits of government funds with the banks unless they were secured by United States bonds. At the same time, deposits were increased at banks that secured those funds with government bonds. The secretary’s plan was to make government bonds scarce and increase the price of a planned sale of Panama bonds being issued by the government. ”29 The Secretary of the Treasury was criticized for other monetary arrangements.

The additional credit was then used to buy more stock on margin. This leveraged the investor’s profits as the market was going up, but it compounded losses when the market declined. Branch banking was still limited after the turn of the century. In 1901, there were forty-seven banks with a total of eighty-five branches in the United States. Thirteen of those banks were in New York. Because national banks were not allowed to open branch offices, the number of banks in the United States expanded into the thousands.

Some of those allegations were made by Henry Frick, the erstwhile partner of Andrew Carnegie. The charges led to scandal and eventually to the appointment by the New York legislature of its own investigating committee headed by Senator William W. Armstrong. The Armstrong Committee decided to conduct a broad review of the activities of all New York insurance companies, not just the Equitable. President Theodore Roosevelt also urged Congress in 1904 to consider whether the Bureau of Corporations should have jurisdiction over insurance.

Download PDF sample

Rated 4.39 of 5 – based on 37 votes