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Author: Richard T. McCulley
Publisher: Routledge
ISBN: 0415528542
Category : Business & Economics
Languages : en
Pages : 362
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Book Description
Despite the political potency of money and banking issues, historians have largely dismissed the Progressive Era political debate over banking as irrelevant and have been preoccupied with explaining the shortcomings, limitations and inadequacies of the Federal Reserve Act. The picture that has emerged is one of bankers controlling the course of financial reform with the assistance of political leaders who were either subservient, hopelessly naive or insincere in their public opposition to bankers. This book places their exertions in a larger, unfolding political context and traces in an analytical narrative the interplay of sectional and economic interests, political ideologies and partisan clashes that shaped the course of banking reform.
Author: Richard T. McCulley
Publisher: Routledge
ISBN: 0415528542
Category : Business & Economics
Languages : en
Pages : 362
Get Book Here
Book Description
Despite the political potency of money and banking issues, historians have largely dismissed the Progressive Era political debate over banking as irrelevant and have been preoccupied with explaining the shortcomings, limitations and inadequacies of the Federal Reserve Act. The picture that has emerged is one of bankers controlling the course of financial reform with the assistance of political leaders who were either subservient, hopelessly naive or insincere in their public opposition to bankers. This book places their exertions in a larger, unfolding political context and traces in an analytical narrative the interplay of sectional and economic interests, political ideologies and partisan clashes that shaped the course of banking reform.
Author: Richard T McCulley
Publisher: Routledge
ISBN: 1136301186
Category : Business & Economics
Languages : en
Pages : 362
Get Book Here
Book Description
Despite the political potency of money and banking issues, historians have largely dismissed the Progressive Era political debate over banking as irrelevant and have been preoccupied with explaining the shortcomings, limitations and inadequacies of the Federal Reserve Act. The picture that has emerged is one of bankers controlling the course of financial reform with the assistance of political leaders who were either subservient, hopelessly naive or insincere in their public opposition to bankers. This book places their exertions in a larger, unfolding political context and traces in an analytical narrative the interplay of sectional and economic interests, political ideologies and partisan clashes that shaped the course of banking reform.
Author: Richard T. McCulley
Publisher:
ISBN: 9780415520867
Category : Banks and banking
Languages : en
Pages : 341
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Book Description
Author: Richard T. McCulley
Publisher:
ISBN: 9780203108192
Category : Banks and banking
Languages : en
Pages : 0
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Book Description
Author: Roger Lowenstein
Publisher: Penguin
ISBN: 1101614129
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system. Americans’ mistrust of big government and of big banks—a legacy of the country’s Jeffersonian, small-government traditions—was so widespread that modernizing reform was deemed impossible. Each bank was left to stand on its own, with no central reserve or lender of last resort. The real-world consequences of this chaotic and provincial system were frequent financial panics, bank runs, money shortages, and depressions. By the first decade of the twentieth century, it had become plain that the outmoded banking system was ill equipped to finance America’s burgeoning industry. But political will for reform was lacking. It took an economic meltdown, a high-level tour of Europe, and—improbably—a conspiratorial effort by vilified captains of Wall Street to overcome popular resistance. Finally, in 1913, Congress conceived a federalist and quintessentially American solution to the conflict that had divided bankers, farmers, populists, and ordinary Americans, and enacted the landmark Federal Reserve Act. Roger Lowenstein—acclaimed financial journalist and bestselling author of When Genius Failed and The End of Wall Street—tells the drama-laden story of how America created the Federal Reserve, thereby taking its first steps onto the world stage as a global financial power. America’s Bank showcases Lowenstein at his very finest: illuminating complex financial and political issues with striking clarity, infusing the debates of our past with all the gripping immediacy of today, and painting unforgettable portraits of Gilded Age bankers, presidents, and politicians. Lowenstein focuses on the four men at the heart of the struggle to create the Federal Reserve. These were Paul Warburg, a refined, German-born financier, recently relocated to New York, who was horrified by the primitive condition of America’s finances; Rhode Island’s Nelson W. Aldrich, the reigning power broker in the U.S. Senate and an archetypal Gilded Age legislator; Carter Glass, the ambitious, if then little-known, Virginia congressman who chaired the House Banking Committee at a crucial moment of political transition; and President Woodrow Wilson, the academician-turned-progressive-politician who forced Glass to reconcile his deep-seated differences with bankers and accept the principle (anathema to southern Democrats) of federal control. Weaving together a raucous era in American politics with a storied financial crisis and intrigue at the highest levels of Washington and Wall Street, Lowenstein brings the beginnings of one of the country’s most crucial institutions to vivid and unforgettable life. Readers of this gripping historical narrative will wonder whether they’re reading about one hundred years ago or the still-seething conflicts that mark our discussions of banking and politics today.
Author: William A. Link
Publisher: Univ of North Carolina Press
ISBN: 0807862991
Category : History
Languages : en
Pages : 462
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Book Description
Focusing on the cultural conflicts between social reformers and southern communities, William Link presents an important reinterpretation of the origins and impact of progressivism in the South. He shows that a fundamental clash of values divided reformers and rural southerners, ultimately blocking the reforms. His book, based on extensive archival research, adds a new dimension to the study of American reform movements. The new group of social reformers that emerged near the end of the nineteenth century believed that the South, an underdeveloped and politically fragile region, was in the midst of a social crisis. They recognized the environmental causes of social problems and pushed for interventionist solutions. As a consensus grew about southern social problems in the early 1900s, reformers adopted new methods to win the support of reluctant or indifferent southerners. By the beginning of World War I, their public crusades on prohibition, health, schools, woman suffrage, and child labor had led to some new social policies and the beginnings of a bureaucratic structure. By the late 1920s, however, social reform and southern progressivism remained largely frustrated. Link's analysis of the response of rural southern communities to reform efforts establishes a new social context for southern progressivism. He argues that the movement failed because a cultural chasm divided the reformers and the communities they sought to transform. Reformers were paternalistic. They believed that the new policies should properly be administered from above, and they were not hesitant to impose their own solutions. They also viewed different cultures and races as inferior. Rural southerners saw their communities and customs quite differently. For most, local control and personal liberty were watchwords. They had long deflected attempts of southern outsiders to control their affairs, and they opposed the paternalistic reforms of the Progressive Era with equal determination. Throughout the 1920s they made effective implementation of policy changes difficult if not impossible. In a small-scale war, rural folk forced the reformers to confront the integrity of the communities they sought to change.
Author: Murray N. Rothbard
Publisher: Ludwig von Mises Institute
ISBN: 1610166779
Category : Business & Economics
Languages : en
Pages : 761
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Book Description
Rothbard's posthumous masterpiece is the definitive book on the Progressives. It will soon be the must read study of this dreadful time in our past. — From the Foreword by Judge Andrew P. Napolitano The current relationship between the modern state and the economy has its roots in the Progressive Era. — From the Introduction by Patrick Newman Progressivism brought the triumph of institutionalized racism, the disfranchising of blacks in the South, the cutting off of immigration, the building up of trade unions by the federal government into a tripartite big government, big business, big unions alliance, the glorifying of military virtues and conscription, and a drive for American expansion abroad. In short, the Progressive Era ushered the modern American politico-economic system into being. — From the Preface by Murray N. Rothbard
Author: Elmus Wicker
Publisher: Cambridge University Press
ISBN: 0521770238
Category : Business & Economics
Languages : en
Pages : 182
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Book Description
This study of post-Civil War banking panics has constructed estimates of bank closures and their incidence in five separate banking disturbances. The book reconstructs the course of banking panics in the interior, where suspension of cash payment was the primary effect on the average person.
Author: Benjamin Heber Johnson
Publisher: Yale University Press
ISBN: 0300227760
Category : Nature
Languages : en
Pages : 320
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Book Description
A compelling and long-overdue exploration of the Progressive-era conservation movement, and its lasting effects on American culture, politics, and contemporary environmentalism The turn of the twentieth century caught America at a crossroads, shaking the dust from a bygone era and hurtling toward the promises of modernity. Factories, railroads, banks, and oil fields—all reshaped the American landscape and people. In the gulf between growing wealth and the ills of an urbanizing nation, the spirit of Progressivism emerged. Promising a return to democracy and a check on concentrated wealth, Progressives confronted this changing relationship to the environment—not only in the countryside but also in dense industrial cities and leafy suburbs. Drawing on extensive work in urban history and Progressive politics, Benjamin Heber Johnson weaves together environmental history, material culture, and politics to reveal the successes and failures of the conservation movement and its lasting legacy. By following the efforts of a broad range of people and groups—women’s clubs, labor advocates, architects, and politicians—Johnson shows how conservation embodied the ideals of Progressivism, ultimately becoming one of its most important legacies.
Author: Walter Nugent
Publisher: Oxford University Press
ISBN: 0199746559
Category : History
Languages : en
Pages : 161
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Book Description
After decades of conservative dominance, the election of Barack Obama may signal the beginning of a new progressive era. But what exactly is progressivism? What role has it played in the political, social, and economic history of America? This very timely Very Short Introduction offers an engaging overview of progressivism in America--its origins, guiding principles, major leaders and major accomplishments. A many-sided reform movement that lasted from the late 1890s until the early 1920s, progressivism emerged as a response to the excesses of the Gilded Age, an era that plunged working Americans into poverty while a new class of ostentatious millionaires built huge mansions and flaunted their wealth. As capitalism ran unchecked and more and more economic power was concentrated in fewer and fewer hands, a sense of social crisis was pervasive. Progressive national leaders like William Jennings Bryan, Theodore Roosevelt, Robert M. La Follette, and Woodrow Wilson, as well as muckraking journalists like Lincoln Steffens and Ida Tarbell, and social workers like Jane Addams and Lillian Wald answered the growing call for change. They fought for worker's compensation, child labor laws, minimum wage and maximum hours legislation; they enacted anti-trust laws, improved living conditions in urban slums, instituted the graduated income tax, won women the right to vote, and laid the groundwork for Roosevelt's New Deal. Nugent shows that the progressives--with the glaring exception of race relations--shared a common conviction that society should be fair to all its members and that governments had a responsibility to see that fairness prevailed. Offering a succinct history of the broad reform movement that upset a stagnant conservative orthodoxy, this Very Short Introduction reveals many parallels, even lessons, highly appropriate to our own time. About the Series: Combining authority with wit, accessibility, and style, Very Short Introductions offer an introduction to some of life's most interesting topics. Written by experts for the newcomer, they demonstrate the finest contemporary thinking about the central problems and issues in hundreds of key topics, from philosophy to Freud, quantum theory to Islam.
