This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.
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"Elmus Wicker's fascinating new book on banking panics is an imaginative investigation." EH.NET (March2001)
"Banking Panics of the Gilded Age...enhances our understanding of the crucial developments leading to the creation of our central bank and financial future...this book does make an important contribution to our understanding of U.S. banking history. Wicker's narrative and empirical support combine to paint a picture of the national banking era that is more comprehensive than previous work. Further, his concentration on Clearing House behavior forces his readers to critically re-evaluate their understanding of banking during the Gilded Age." Eastern Economic Review
"Banking Panics of the Gilded Age...enhances our understanding of the crucial developments leading to the creation of our central bank and financial future...this book does make an important contribution to our understanding of U.S. banking history. Wicker's narrative and empirical support combine to paint a picture of the national banking era that is more comprehensive than previous work. Further, his concentration on Clearing House behavior forces his readers to critically re-evaluate their understanding of banking during the Gilded Age." Eastern Economic Review
Book Description
This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Inside This Book
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First Sentence:
Before we undertake a comprehensive narrative and analysis of the three major and two incipient banking panics of the national banking era, it may prove useful to provide a broad overview of the bank panic experience. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
banking unrest, banking disturbance, select balance sheet items, money market stringency, preventing banking panics, major banking panics, bank suspensions, house loan certificates, crop moving season, loan contraction, central money market, reserve pooling, panic month, trust company officials, clearing house committee, reserve city banks, banking era, reserve deficit, ultimate banking reserve, suspended banks, trust company presidents, clearing house certificates, currency premium, gold imports, panic week Key Phrases - Capitalized Phrases (CAPs): (learn more)
New York, Kansas City, Great Depression, Trust Company of America, Knickerbocker Trust, Bank of North America, First National, United States, Coe Report, Comptroller of the Currency, National Cordage, New England, Jay Cooke, Wall Street, Union Trust, Chemical National, House of Representatives, Los Angeles, San Diego, Bank of England, Metropolitan Bank, Metropolitan National Bank, National Banking Act, National Bureau of Economic Research, Union National New!
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Before we undertake a comprehensive narrative and analysis of the three major and two incipient banking panics of the national banking era, it may prove useful to provide a broad overview of the bank panic experience. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
banking unrest, banking disturbance, select balance sheet items, money market stringency, preventing banking panics, major banking panics, bank suspensions, house loan certificates, crop moving season, loan contraction, central money market, reserve pooling, panic month, trust company officials, clearing house committee, reserve city banks, banking era, reserve deficit, ultimate banking reserve, suspended banks, trust company presidents, clearing house certificates, currency premium, gold imports, panic week Key Phrases - Capitalized Phrases (CAPs): (learn more)
New York, Kansas City, Great Depression, Trust Company of America, Knickerbocker Trust, Bank of North America, First National, United States, Coe Report, Comptroller of the Currency, National Cordage, New England, Jay Cooke, Wall Street, Union Trust, Chemical National, House of Representatives, Los Angeles, San Diego, Bank of England, Metropolitan Bank, Metropolitan National Bank, National Banking Act, National Bureau of Economic Research, Union National New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Citations (learn more)
This book cites 18
books:
See all 18 books this book cites
4
books
cite this book:
- Lombard Street by Walter Bagehot on 4 pages
- The Banking Panics of the Great Depression (Studies in Macroeconomic History) by Elmus Wicker in Front Matter (1), Front Matter (2), and Back Matter
- A Financial History of the United States by Margaret Good Myers in Back Matter
- A History of the United States by C.P. Hill in Back Matter
- Financial History of the United States by Davis Rich Dewey in Back Matter
See all 18 books this book cites
- Panic!: Markets, Crises, and Crowds in American Fiction (Cultural Studies of the United States) by David A. Zimmerman in Back Matter (1), and Back Matter (2)
-
Presidents from Hayes through McKinley, 1877-1901: Debating the Issues in Pro and Con Primary Documents (The President's Position: Debating the Issues)
by p>Amy
H.
Sturgis
on page 157 - Deflation: Current and Historical Perspectives (Studies in Macroeconomic History) by Richard C. K. Burdekin in Back Matter
- Evolution and Procedures in Central Banking by David E. Altig on page 218
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