Charting Twentieth-Century Monetary Policy
Herbert Hoover and Benjamin Strong, 1917-1927
Seiten
1999
Praeger Publishers Inc (Verlag)
978-0-313-30978-6 (ISBN)
Praeger Publishers Inc (Verlag)
978-0-313-30978-6 (ISBN)
This work sheds light on the roles that Herbert Hoover and Benjamin Strong played in American monetary policy making in the 1920s. The author relates those roles to larger conflicts over where policy should be made, and how the Federal reserve system should be structured.
Herbert Hoover, as Secretary of Commerce, and Benjamin Strong, as Governor of the Federal Reserve Bank of New York, played a critical role in the formulation of American monetary policy during the 1920s. Yet little attention has been given to the relationship between them—at first cooperative, then increasingly one of conflict and factionalism—or to the impact of that relationship on policy formulation. This book sheds new light on their roles in policy making and relates those roles to larger conflicts over where policy should be made, how the Federal Reserve System should be structured, and the balance that should be struck between international, national, and regional considerations.
Focusing on the Hoover-Strong relationship from a political rather than a purely economic perspective, the book's scope includes both domestic and international aspects of Federal Reserve policy formulation. New sources have enabled the author to provide both fresh details and a broader interpretation. Elaborating on the belief that the Depression resulted from policies developed during the autumn of 1927, the author contends that the foundation for those policies was laid with America's decision to underwrite the Dawes plan, the decision to underwrite England's return to the gold standard, and the involvement in European monetary stabilization—all issues over which Hoover and Strong disagreed.
Herbert Hoover, as Secretary of Commerce, and Benjamin Strong, as Governor of the Federal Reserve Bank of New York, played a critical role in the formulation of American monetary policy during the 1920s. Yet little attention has been given to the relationship between them—at first cooperative, then increasingly one of conflict and factionalism—or to the impact of that relationship on policy formulation. This book sheds new light on their roles in policy making and relates those roles to larger conflicts over where policy should be made, how the Federal Reserve System should be structured, and the balance that should be struck between international, national, and regional considerations.
Focusing on the Hoover-Strong relationship from a political rather than a purely economic perspective, the book's scope includes both domestic and international aspects of Federal Reserve policy formulation. New sources have enabled the author to provide both fresh details and a broader interpretation. Elaborating on the belief that the Depression resulted from policies developed during the autumn of 1927, the author contends that the foundation for those policies was laid with America's decision to underwrite the Dawes plan, the decision to underwrite England's return to the gold standard, and the involvement in European monetary stabilization—all issues over which Hoover and Strong disagreed.
SILVANO A. WUESCHNER is Assistant Professor of History at William Penn College.
Foreword by Ellis W. Hawley Introduction The Emergence of Factions: Differing Views on the Roles for the Federal Reserve System The Clash of Factions, 1921-1924 Foreign Developments: The Move to Stabilize The Elusive Demon: Speculation Stabilization: From Wall Street to Congress Easy Money Conclusion Glossary Bibliography Index
Erscheint lt. Verlag | 30.4.1999 |
---|---|
Sprache | englisch |
Themenwelt | Geschichte ► Allgemeine Geschichte ► Neuzeit (bis 1918) |
Geschichte ► Allgemeine Geschichte ► 1918 bis 1945 | |
Geisteswissenschaften ► Geschichte ► Regional- / Ländergeschichte | |
Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte | |
Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung | |
Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft | |
ISBN-10 | 0-313-30978-7 / 0313309787 |
ISBN-13 | 978-0-313-30978-6 / 9780313309786 |
Zustand | Neuware |
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