The Origins and Economic Impact of the First Bank of the United States, 1791-1797 (Financial Sector of the American Economy) [Hardcover]

David Cowen (Author)

Book Description

Publication Date: November 10, 2000 | ISBN-10: 0815338376 | ISBN-13: 978-0815338376 | Edition: 1

This book focuses on the impact the introduction of the First Bank of the United States (1791-1811) had on the nascent financial system.

Editorial Reviews

Review

Cowen has produced not just one, but two original arguments related to the history of the First Bank of the United States, and his scholarly contribution deserves our applause and careful attention. EH.NET, May 2001, Edwin J. Perkins, University of Southern California.

Product Details

• Hardcover: 336 pages
• Publisher: Routledge; 1 edition (November 10, 2000)
• Language: English
• ISBN-10: 0815338376
• ISBN-13: 978-0815338376
• Product Dimensions: 9.3 x 6.4 x 0.9 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #8,532,879 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars *The* Best Book on *The* Most Important Bank, October 29, 2000

By 

Robert E. Wright, Ph.d. (Charlottesville, VA, USA) - See all my reviews

This review is from: The Origins and Economic Impact of the First Bank of the United States, 1791-1797 (Financial Sector of the American Economy) (Hardcover)

Hands down this is *the* best book on *the* most important early bank in U.S. history, the Bank of the United States, or BUS. The brainchild Alexander Hamilton, one of the greatest minds in financial history, the BUS was by far the largest early US bank in terms of market cap and reach; it was the only chartered bank that could branch across state lines. Although owned by private persons, the BUS, in conjunction with the US Treasury, functioned as a central bank. Cowen convincingly argues that it did a great job, thwarting a panic in 1792, stopping inflation later in the decade, and serving as a lender of last resort in the early nineteenth century. Cowen also carefully traces the early history of the BUS, from its hot IPO, through its development under long-time president Thomas Willing, through its emergence as a central bank, to its eventual demise at the hands of radical agrarian politicians.

Based on the BUS's balance sheets, and what must have been years of painstaking archival research, _Origins and Impact_ is virtually irrefutable. Historians, economists, public policymakers, and Wall Street bankers will all enjoy, and learn from, this important, provocative, original book.

5.0 out of 5 stars Great, November 14, 2001

By 

"adwe" (USA) - See all my reviews

This review is from: The Origins and Economic Impact of the First Bank of the United States, 1791-1797 (Financial Sector of the American Economy) (Hardcover)

Mr. Cowen provides great depth and analysis about an often ignored period of US history. Despite the apparent boring subject matter, the book is quite entertaining. On my recent vacation, I took this book, Harry Potter and Bill O'Reilly's "No Spin Zone." Believe it or not this was the book I could not put down on the beach.

0 of 1 people found the following review helpful:

5.0 out of 5 stars This book rocks!, April 29, 2001

By 

Tonio Scali (New York, NY USA) - See all my reviews

This review is from: The Origins and Economic Impact of the First Bank of the United States, 1791-1797 (Financial Sector of the American Economy) (Hardcover)

A masterstroke of economic insight.Cowen's attention to detail is unsurpassed and will leave you breathless. Goodbye Paul Erdman - Hello David J. Cowen. A must read if ever there was one.