In this sure-to-be-controversial history of money and banking, Hixson examines the historical and resulting present-day deficiencies of the U.S. monetary and banking system. His study reveals that in a whole series of historical cases over the eighteenth and nineteenth centuries faulty economic principles were applied to the developing system. His bold conclusions include suggestions that: commercial banks should be required to maintain 100 percent reserves on all demand-deposit accounts and thus be denied the present privilege of creating credit-money; and the federal government should be the…mehr
In this sure-to-be-controversial history of money and banking, Hixson examines the historical and resulting present-day deficiencies of the U.S. monetary and banking system. His study reveals that in a whole series of historical cases over the eighteenth and nineteenth centuries faulty economic principles were applied to the developing system. His bold conclusions include suggestions that: commercial banks should be required to maintain 100 percent reserves on all demand-deposit accounts and thus be denied the present privilege of creating credit-money; and the federal government should be the sole creator of money in the economy. As in his previous book, Hixson challenges generally accepted historical and economic wisdom, making this a significant contribution to the literature.
WILLIAM F. HIXSON is a retired businessman and engineer, as well as an amateur economist, who has published articles in the Eastern Economic Journal, The History of Economics Society Bulletin, and Economies et Societes./e He is the author of A Matter of Interest: Reexamining Money, Debt, and Real Economic Growth (Praeger, 1991).
Inhaltsangabe
Introduction "Smith's Law" and "Fisher's Equation of Exchange" The Impracticality of a Gold/Silver Standard The Undesirability of a Gold/Silver Standard Low Growth Rates of Money Supply More Rapid Growth Rates of Money Supply Money as a Legal and Psychological Matter Paper Money Created by Colonial Governments: Background and the Pennsylvania Example Paper Money Created by Colonial Governments: Other Examples and Summation Paper Money Created by Private Banks in Eighteenth-Century Britain Adam Smith on the Bank of England and Banking in General Financing the War for Independence of the United States The Decade of the 1780s in the United States The Constitution, Money, and Banking in the Early Decades of the United States Money and Banking in Britain from 1792-1821 Money and Banking in Britain in the Later Years of the Nineteenth Century The Bank of the United States and Other Matters, 1800-1836 The Discovery of Gold in California and Other Matters, 1836-1860 Union Financing of the Civil War, 1861-1863 Union Financing of the Civil War, 1864-1866 From War's End to the Resumption of Gold Payments, 1865-1879 Bimetallism and Populism, 1879-1896 New Gold Discoveries and Other Matters, 1896-1914 The Period 1864-1914 Considered as a Whole References Index
Introduction "Smith's Law" and "Fisher's Equation of Exchange" The Impracticality of a Gold/Silver Standard The Undesirability of a Gold/Silver Standard Low Growth Rates of Money Supply More Rapid Growth Rates of Money Supply Money as a Legal and Psychological Matter Paper Money Created by Colonial Governments: Background and the Pennsylvania Example Paper Money Created by Colonial Governments: Other Examples and Summation Paper Money Created by Private Banks in Eighteenth-Century Britain Adam Smith on the Bank of England and Banking in General Financing the War for Independence of the United States The Decade of the 1780s in the United States The Constitution, Money, and Banking in the Early Decades of the United States Money and Banking in Britain from 1792-1821 Money and Banking in Britain in the Later Years of the Nineteenth Century The Bank of the United States and Other Matters, 1800-1836 The Discovery of Gold in California and Other Matters, 1836-1860 Union Financing of the Civil War, 1861-1863 Union Financing of the Civil War, 1864-1866 From War's End to the Resumption of Gold Payments, 1865-1879 Bimetallism and Populism, 1879-1896 New Gold Discoveries and Other Matters, 1896-1914 The Period 1864-1914 Considered as a Whole References Index
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