Download or read book Banks and Politics in America from the Revolution to the Civil War written by Bray Hammond and published by Princeton University Press. This book was released on 1991 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about politics and banks and history. Yet politicians who read it will see that the author is not a politician, bankers who read it will see that he is not a banker, and historians that he is not an historian. Economists will see that he is not an economist and lawyers that he is not a lawyer. With this rather cryptic and exhaustive disclaimer, Bray Hammond began his classic investigation into the role of banking in the formation of American society. Hammond, who was assistant secretary of the Board of Governors of the Federal Reserve System from 1944 to 1950, presented in this 771-page book the definitive account of how banking evolved in the United States in the context of the nation's political and social development. Hammond combined political with financial analysis, highlighting not only the in.uence politicians exercised over banking but also how banking drove political interests and created political coalitions. He captured the entrepreneurial, expansive, risk-taking spirit of the United States from earliest days and then showed how that spirit sometimes undermined sound banking institutions. In Hammond's view, we need central banks to keep the economy on an even keel. Historian Richard Sylla judged the work to be "a wry and urbane study of early U.S. financial history, but also a timeless essay on how Americans became what they are." Banks and Politics in America won the Pulitzer Prize for history in 1958.
Download or read book Sovereignty and an Empty Purse written by Bray Hammond and published by Princeton University Press. This book was released on 2014-07-14 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sequel to his Pulitzer Prize-winning Banks and Politics in America from the Revolution to the Civil War, this book by Bray Hammond focuses on how Washington struggled financially to settle the Civil War and how its measures spurred the growth of federal government. Originally published in 1970. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book Banks and politics in America written by Bray Hammond and published by . This book was released on 1967 with total page 771 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Suppressed History of American Banking written by Xaviant Haze and published by Simon and Schuster. This book was released on 2016-09-15 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reveals how the Rothschild Banking Dynasty fomented war and assassination attempts on 4 presidents in order to create the Federal Reserve Bank • Explains how the Rothschild family began the War of 1812 because Congress failed to renew a 20-year charter for their Central Bank as well as how the ensuing debt of the war forced Congress to renew the charter • Details Andrew Jackson’s anti-bank presidential campaigns, his war on Rothschild agents within the government, and his successful defeat of the Central Bank • Reveals how the Rothschilds spurred the Civil War and were behind the assassination of Lincoln In this startling investigation into the suppressed history of America in the 1800s, Xaviant Haze reveals how the powerful Rothschild banking family and the Central Banking System, now known as the Federal Reserve Bank, provide a continuous thread of connection between the War of 1812, the Civil War, the financial crises of the 1800s, and assassination attempts on Presidents Jackson and Lincoln. The author reveals how the War of 1812 began after Congress failed to renew a 20-year charter for the Central Bank. After the war, the ensuing debt forced Congress to grant the central banking scheme another 20-year charter. The author explains how this spurred General Andrew Jackson--fed up with the central bank system and Nathan Rothschild’s control of Congress--to enter politics and become president in 1828. Citing the financial crises engineered by the banks, Jackson spent his first term weeding out Rothschild agents from the government. After being re-elected to a 2nd term with the slogan “Jackson and No Bank,” he became the only president to ever pay off the national debt. When the Central Bank’s charter came up for renewal in 1836, he successfully rallied Congress to vote against it. The author explains how, after failing to regain their power politically, the Rothschilds plunged the country into Civil War. He shows how Lincoln created a system allowing the U.S. to furnish its own money, without need for a Central Bank, and how this led to his assassination by a Rothschild agent. With Lincoln out of the picture, the Rothschilds were able to wipe out his prosperous monetary system, which plunged the country into high unemployment and recession and laid the foundation for the later formation of the Federal Reserve Bank--a banking scheme still in place in America today.
Download or read book Other People s Money written by Sharon Ann Murphy and published by JHU Press. This book was released on 2017-03-15 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the contentious world of nineteenth-century banking shaped the United States. Pieces of paper that claimed to be good for two dollars upon redemption at a distant bank. Foreign coins that fluctuated in value from town to town. Stock certificates issued by turnpike or canal companies—worth something . . . or perhaps nothing. IOUs from farmers or tradesmen, passed around by people who could not know the person who first issued them. Money and banking in antebellum America offered a glaring example of free-market capitalism run amok—unregulated, exuberant, and heading pell-mell toward the next “panic” of burst bubbles and hard times. In Other People’s Money, Sharon Ann Murphy explains how banking and money worked before the federal government, spurred by the chaos of the Civil War, created the national system of US paper currency. Murphy traces the evolution of banking in America from the founding of the nation, when politicians debated the constitutionality of chartering a national bank, to Andrew Jackson’s role in the Bank War of the early 1830s, to the problems of financing a large-scale war. She reveals how, ultimately, the monetary and banking structures that emerged from the Civil War also provided the basis for our modern financial system, from its formation under the Federal Reserve in 1913 to the present. Touching on the significant role that numerous historical figures played in shaping American banking—including Alexander Hamilton, James Madison, Benjamin Franklin, Henry Clay, Daniel Webster, and Louis Brandeis—Other People’s Money is an engaging guide to the heated political fights that surrounded banking in early America as well as to the economic causes and consequences of the financial system that emerged from the turmoil. By helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.
Download or read book Ways and Means written by Roger Lowenstein and published by Penguin. This book was released on 2023-03-07 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Captivating . . . [Lowenstein] makes what subsequently occurred at Treasury and on Wall Street during the early 1860s seem as enthralling as what transpired on the battlefield or at the White House.” —Harold Holzer, Wall Street Journal “Ways and Means, an account of the Union’s financial policies, examines a subject long overshadowed by military narratives . . . Lowenstein is a lucid stylist, able to explain financial matters to readers who lack specialized knowledge.” —Eric Foner, New York Times Book Review From renowned journalist and master storyteller Roger Lowenstein, a revelatory financial investigation into how Lincoln and his administration used the funding of the Civil War as the catalyst to centralize the government and accomplish the most far-reaching reform in the country’s history Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy’s secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans. Salmon Chase, Lincoln’s vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback—paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North’s financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields. Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people.
Download or read book Oil Banks and Politics written by Linda B. Hall and published by Univ of TX + ORM. This book was released on 2010-07-22 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study in conflict between a powerful industry and a struggling nation: “This fine monograph . . . addresses an important issue in Mexican history.” —The Americas Mexico was second only to the United States as the world’s largest oil producer in the years following the Mexican Revolution. As the revolutionary government became institutionalized, it sought to assure its control of Mexico’s oil resources through the Constitution of 1917, which returned subsoil rights to the nation. This comprehensive study explores the resulting struggle between oil producers, many of which were U.S. companies, and the Mexican government. Linda Hall goes beyond the diplomacy to look at the direct impact of a powerful, highly profitable foreign-controlled industry on a government and a nation trying to recover from a major civil war. She draws on extensive research in Mexican archives, including both government sources and the private papers of Presidents Alvaro Obregón and Plutarco Elías Calles, as well as U.S. government and private sources. In the wake of the North American Free Trade Agreement’s expansion of United States business ties to Mexico, this study of a crucial moment in U.S.-Mexican business relations will be of interest to a wide audience in business, diplomatic, and political history.
Download or read book The Bank War and the Partisan Press written by Stephen W. Campbell and published by University Press of Kansas. This book was released on 2022-11-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: President Andrew Jackson’s conflict with the Second Bank of the United States was one of the most consequential political struggles in the early nineteenth century. A fight over the bank’s reauthorization, the Bank War provoked fundamental disagreements over the role of money in politics, competing constitutional interpretations, equal opportunity in the face of a state-sanctioned monopoly, and the importance of financial regulation—all of which cemented emerging differences between Jacksonian Democrats and Whigs. As Stephen W. Campbell argues here, both sides in the Bank War engaged interregional communications networks funded by public and private money. The first reappraisal of this political turning point in US history in almost fifty years, The Bank War and the Partisan Press advances a new interpretation by focusing on the funding and dissemination of the party press. Drawing on insights from the fields of political history, the history of journalism, and financial history, The Bank War and the Partisan Press brings to light a revolving cast of newspaper editors, financiers, and postal workers who appropriated the financial resources of preexisting political institutions and even created new ones to enrich themselves and further their careers. The bank propagated favorable media and tracked public opinion through its system of branch offices, while the Jacksonians did the same by harnessing the patronage networks of the Post Office. Campbell’s work contextualizes the Bank War within larger political and economic developments at the national and international levels. Its focus on the newspaper business documents the transition from a seemingly simple question of renewing the bank’s charter to a multisided, nationwide sensation that sorted the US public into ideologically polarized political parties. In doing so, The Bank War and the Partisan Press shows how the conflict played out on the ground level in various states—in riots, duels, raucous public meetings, politically orchestrated bank runs, arson, and assassination attempts. The resulting narrative moves beyond the traditional boxing match between Jackson and bank president Nicholas Biddle, balancing political institutions with individual actors, and business practices with party attitudes.
Download or read book History of Money and Banking in the United States The Colonial Era to World War II A written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on 2002 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Download or read book Burn the Town and Sack the Banks written by Cathryn J. Prince and published by Basic Books. This book was released on 2006-09-15 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: On a dreary October afternoon, bands of Confederate raiders held up the three banks in St. Albans. With guns drawn, they herded the townspeople out into the common, sending the people of the North into panic. Operating out of a Confederate stronghold in Canada, the raiders were young men, mostly escapees from Union prison camps, who had been recruited to inaugurate a new kind of guerilla war along the Yankees' unprotected border. The raid, though bungling at times, was successful — the consequent pursuit of the rebels into Canada. The celebrity-like trial it sparked in Montreal and resulting diplomatic tensions that arose between the U.S., Canada, and Great Britain, left the Southern dream of a second-front diversion in ruins. What survived, however, is a fascinating tale of the South's desperate attempt to reverse the course of the war. Burn the Town and Sack the Banks is a tale filled with dashing soldiers, spies, posses, bumbling plans, smitten locals, lawyers, diplomats, and an idyllic Vermont town, set against the backdrop of the great battles far from the Northern border that were bringing the Civil War to its bloody conclusion.
Download or read book America s Bank written by Roger Lowenstein and published by Penguin. This book was released on 2015-10-20 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Confederate Reckoning written by Stephanie McCurry and published by Harvard University Press. This book was released on 2012-05-07 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pulitzer Prize Finalist Winner of the Frederick Douglass Prize Winner of the Merle Curti Prize “Perhaps the highest praise one can offer McCurry’s work is to say that once we look through her eyes, it will become almost impossible to believe that we ever saw or thought otherwise.”—Drew Gilpin Faust, The New Republic The story of the Confederate States of America, the proslavery, antidemocratic nation created by white Southern slaveholders to protect their property, has been told many times in heroic and martial narratives. Now, however, Stephanie McCurry tells a very different tale of the Confederate experience. When the grandiosity of Southerners’ national ambitions met the harsh realities of wartime crises, unintended consequences ensued. Although Southern statesmen and generals had built the most powerful slave regime in the Western world, they had excluded the majority of their own people—white women and slaves—and thereby sowed the seeds of their demise. Wartime scarcity of food, labor, and soldiers tested the Confederate vision at every point and created domestic crises to match those found on the battlefields. Women and slaves became critical political actors as they contested government enlistment and tax and welfare policies, and struggled for their freedom. The attempt to repress a majority of its own population backfired on the Confederate States of America as the disenfranchised demanded to be counted and considered in the great struggle over slavery, emancipation, democracy, and nationhood. That Confederate struggle played out in a highly charged international arena. The political project of the Confederacy was tried by its own people and failed. The government was forced to become accountable to women and slaves, provoking an astounding transformation of the slaveholders’ state. Confederate Reckoning is the startling story of this epic political battle in which women and slaves helped to decide the fate of the Confederacy and the outcome of the Civil War.
Download or read book Thirty Years of American Finance written by Alexander Dana Noyes and published by . This book was released on 1902 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Ways and Means written by Roger Lowenstein and published by Penguin. This book was released on 2022-03-08 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Captivating . . . [Lowenstein] makes what subsequently occurred at Treasury and on Wall Street during the early 1860s seem as enthralling as what transpired on the battlefield or at the White House.” —Harold Holzer, Wall Street Journal “Ways and Means, an account of the Union’s financial policies, examines a subject long overshadowed by military narratives . . . Lowenstein is a lucid stylist, able to explain financial matters to readers who lack specialized knowledge.” —Eric Foner, New York Times Book Review From renowned journalist and master storyteller Roger Lowenstein, a revelatory financial investigation into how Lincoln and his administration used the funding of the Civil War as the catalyst to centralize the government and accomplish the most far-reaching reform in the country’s history Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy’s secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans. Salmon Chase, Lincoln’s vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback—paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North’s financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields. Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people.
Download or read book Battle Cry of Freedom written by James M. McPherson and published by Oxford University Press. This book was released on 2003-12-11 with total page 946 pages. Available in PDF, EPUB and Kindle. Book excerpt: Filled with fresh interpretations and information, puncturing old myths and challenging new ones, Battle Cry of Freedom will unquestionably become the standard one-volume history of the Civil War. James McPherson's fast-paced narrative fully integrates the political, social, and military events that crowded the two decades from the outbreak of one war in Mexico to the ending of another at Appomattox. Packed with drama and analytical insight, the book vividly recounts the momentous episodes that preceded the Civil War--the Dred Scott decision, the Lincoln-Douglas debates, John Brown's raid on Harper's Ferry--and then moves into a masterful chronicle of the war itself--the battles, the strategic maneuvering on both sides, the politics, and the personalities. Particularly notable are McPherson's new views on such matters as the slavery expansion issue in the 1850s, the origins of the Republican Party, the causes of secession, internal dissent and anti-war opposition in the North and the South, and the reasons for the Union's victory. The book's title refers to the sentiments that informed both the Northern and Southern views of the conflict: the South seceded in the name of that freedom of self-determination and self-government for which their fathers had fought in 1776, while the North stood fast in defense of the Union founded by those fathers as the bulwark of American liberty. Eventually, the North had to grapple with the underlying cause of the war--slavery--and adopt a policy of emancipation as a second war aim. This "new birth of freedom," as Lincoln called it, constitutes the proudest legacy of America's bloodiest conflict. This authoritative volume makes sense of that vast and confusing "second American Revolution" we call the Civil War, a war that transformed a nation and expanded our heritage of liberty.
Download or read book Bonds of War written by David K. Thomson and published by UNC Press Books. This book was released on 2022-02-16 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does one package and sell confidence in the stability of a nation riven by civil strife? This was the question that loomed before the Philadelphia financial house of Jay Cooke & Company,&8239;entrusted&8239;by the US government with an unprecedented sale of bonds to finance the Union war effort in the early days of the American Civil War.&8239;How the government and its agents marketed these bonds revealed a version of the war the public was willing to buy and buy into, based not just in the full faith and credit of the United States but also in the success of its armies and its long-term vision for open markets. From Maine to California, and in foreign halls of power and economic influence,&8239;thousands of agents were deployed to&8239;sell&8239;a clear message: Union victory was unleashing the American economy itself. This fascinating work of&8239;financial and political history&8239;during&8239;the Civil War&8239;era&8239;shows&8239;how the marketing and sale of bonds crossed the Atlantic to Europe and beyond, helping ensure foreign countries' vested interest in the Union's success. Indeed, David K. Thomson demonstrates how Europe, and ultimately all corners of the globe, grew deeply interdependent on American finance during, and in the immediate aftermath of, the American Civil War.&8239;
