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It Will Pass - Famous Quotes - Bank / Money Quotes.
1924 US Banker's Association Magazine. "When Rothschild said, "Let me issue and
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US Bankers Association Magazine 1924, or earlier?:
May 18, 2009 ... Discussion about US Bankers Association Magazine 1924, or earlier?: at the
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MONEY 101 - Compiled by Kate Kelly - tribe.net
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Ron Paul gives a proverbial PUNCH to the guts of the Fed | Wake Up ...
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Jun 23, 2010 ... U.S. Bankers Association Magazine, 1924. Johannes Roothaan. “Aye, give me gold—
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[Split Thread] USA Bankers Magazine/Protocols of the Elders of ...
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Ireland Inc: Welcome to Economic Imperialism « Irish Innovation
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This was written in US Bankers Magazine, Aug. 25, 1924. : politics
Sep 26, 2009 ... In case you missed it the source is US Bankers Magazine, Aug. 25, 1924. It is
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What is implied by the following US Bankers Magazine article ...
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Forums - Goldman Sachs is it a Cancer or just a Parasite of the US ...
Banker's Association Magazine, 1924 .... On the other hand, at other sites, it
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Federal Reserve Bank, New York City
“Capital must protect itself in every possible way, both by combination and by legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When through the process of law the common people lose their homes, they will become more docile and more easily governed by the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming and imperialism to govern the world. By dividing the voter through the political party system we can get them to expend their energies in fighting for questions of no importance. It is thus by discreet action we can secure for ourselves that which has been so well planned and so successfully accomplished.”
U.S. Bankers Association Magazine, 1924
Johannes Roothaan
“Aye, give me gold—plenty of gold; and then, with such able heads and such resources as the church commands, I will undertake not only to master the whole world, but to reconstruct it entirely. When we aim at results so magnificent, a little boldness may be allowed us; but we must not be madly bold.”
Jesuit Assistant Johannes Roothan, Secret Conference of Chieri, 1825
Abbate M. Leone, The Jesuit Conspiracy: The Secret Plan of the Order, (London: Chapman and Hill, 1848) p. 134.
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City bankers, 1890-1914 - Google Books Result
1897), p. 366. 34 See infra, ch. 8, pp. 276-86. 131 Walter Leaf, 1852-1927, ...
| Youssef Cassis - 1994 - 350 pages City bankers, 1890-1914 is a major contribution to a controversial area of economic history and to the debate about the nature of British society in the late Victorian and Edwardian eras. books.google.com |
- Youssef Cassis - 1994 - 350 pages1986; Y. Cassis, 'Merchant bankers and City aristocracy'; and SD Chapman, 'Reply
to Youssef Cassis'. British Journal of Sociology, 39: 1 (1988). 11 For example
by Martin Daunion. despite our long discussions of the matter, ...books.google.com - Youssef Cassis - 1999 - 296 pages15 See Cassis, City Bankers, 1890-1914, and Small and Medium-Sized Companies in
the Financial Sector in Europe', in M. Muller (ed.), Strategy and Structure of
the Small and Medium- Sized Enterprises since the Industrial Revolution ...books.google.com - Youssef Cassis, P L Cottrell - 2009 - 302 pagesYet nowhere did private bankers flourish more than in the City of London. This
paradox reflects the peculiarities of the English banking system: its extreme
... 7 See Y. Cassis, City Bankers, 1890-1914 (Cambridge, 1994), pp. ...books.google.com - R. C. Michie, Philip Williamson - 2004 - 381 pagesRubinstein, 'Wealth, elites and the class structure ''l modern Britain', Past
and Present 76 (1977), 99-126, and WD Rubinstein, Men of Property (1981). 5 Y.
Cassis, City Bankers 1890-1914 (Cambridge, 1995; first edn in French, 1984), ...books.google.com - Richard Eugene Sylla, Richard H. Tilly, Gabriel Tortella Casares - 1999 - 295 pages... and Economic Development in lndustrial New England Naomi R. Lamoreaux / lSBN
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1914 Youssef Cassis / lSBN 0 521 44188 9 (hardback) Finance and Financiers in
...books.google.com - Mansel G. Blackford - 1998 - 249 pagesYoussef Cassis, City Bankers, 1890-1914 (Cambridge: Cambridge University Press,
1994), offers a close look at the banking community composing the City of London
. Forrest Capie and Michael Collins, "Industrial Lending by English ...books.google.com - Alice Teichova, G. Kurgan-van Hentenryk, Dieter Ziegler - 1997 - 427 pagesYOUSSEF CASSIS teaches economic history at the University of Geneva and is a
Visiting Research Fellow at the Business History Unit ... He is the author of
City Bankers 1890-1914 (1994), and joint editor, with F. Crouzet and T. Gourvish
, ...books.google.com - David Sunderland, Royal Historical Society (Great Britain) - 2004 - 352 pages... of the crown colonies, but also on the techniques adopted by the City in
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the nineteenth century, London 1975; Youssef Cassis, City bankers, 1890-1914,
...books.google.com - P. L. Cottrell, European Association for Banking History - 2007 - 326 pages23 For example, what Youssef Cassis writes about marriages, dynasties, networks
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The world of private banking
By Youssef Cassis, P L Cottrellhttp://books.google.com/books?id=BGEAHREEXfoC&printsec=frontcover#v=onepage&q&f=false
- Youssef Cassis - 1994 - 350 pagesIntroduction to the English edition Writing in English on the history of other
countries hardly affects the book's ... Despite the favourable reception that
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...books.google.com - David Kynaston - 1995 - 678 pagesYoussef Cassis, City Bankers, 1890-1914 (Cambridge, 1994), pp 5-6. 11. The 1890
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The City of London: Golden years, 1890-1914
- David Kynaston - 1995 - 678 pagesPART ONE Prologue At the office, the new and very young clerk Pitt, who was very
impudent to me a week or so ago, was late again. I told him it would be my duty
to inform Mr. ...books.google.com - Youssef Cassis - 1994 - 350 pagesThe oldest of these in London was the Committee of the London Clearing Bankers,
45 which included a ... banks had their own separate association, the English
Country Bankers' Association, which had its hour of glory in the golden ...books.google.com - R. C. Michie, Philip Williamson - 2004 - 381 pagesUnless otherwise stated, the place of publication is London. ... The City of
London, in 4 volumes: IA World of its Own 1815-1890 (1994) II Golden Years 1890-
1914 (1995) III Illusions of Gold 1914-1945 (1999) IV A Club No More 1945-2000
...books.google.com - Youssef Cassis - 1999 - 296 pagesGolden Years 1890-1914 (London, 1995). 14 See S. Chapman, The Rise of Merchant
Banking (London, 1984). 15 See Cassis, City Bankers, 1890-1914, and Small and
Medium-Sized Companies in the Financial Sector in Europe', in M. Muller (ed. ...books.google.com - Felix Driver, David Gilbert - 2003 - 304 pages6 Quoted in D. Kynaston, The City of London 0, Golden Years, 1890-1914 (London,
Chatto & Windus, 1995), p. 162. 7 Ibid., p. 208. 8 JM Jacobs, Edge of Empire:
Postcolonialism and the City (London, Routledge, 1996), p. 38. ...books.google.com - Alex Windscheffel, Royal Historical Society (Great Britain) - 2007 - 260 pages38 Hyndman, Commune for London, 9. 39 For the position of the City see Davis,
Reforming London, 51-8; David Kynaston, The City of London, I: A world of its
own, 1815-1890; II: The golden years, 1890-1914, London 1994, 1995. ...books.google.com - David Kynaston - 1994books.google.com
- Mark Casson, Mary B. Rose - 1998 - 184 pagesIll (London, 1984) p.136; D. Kynaston, The City of London, Vol.11 The Golden
Years 1890-1914 (London, 1995), pp.21-2. 25. Kynaston, Golden Years, p.29; Gibb,
Lloyd's, p.359. 26. D. Kynaston, The City of London, Vol.1: A World of its Own
...books.google.com - Youssef Cassis, P L Cottrell - 2009 - 302 pagesMichie, The City of London: Continuity and Change, 1850-1990 (Basingstoke and
London, 1992); ... 2: Golden Age, 1890-1914 (London, 1995); Y. Cassis, Capitals
of Capital: A History of International Financial Centres, 1780-2005 (Cambridge
...books.google.com - John Benson, Laura Ugolini - 2006 - 297 pages21 H. Warren, The Modern Bucket Shop: A Description of the Wiles of the 'Outside
' Stockbroker or Dealer etc. (London, 1906), 8-10. 22 D. Kynaston, The City of
London, vol. 2, Golden Years 1890-1914 (London, 1995), 101-103. ...books.google.com
the treasury and the city of london
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City bankers, 1890-1914 - Google Books Result
Youssef Cassis - 1994 - 350 pages... a former Secretary to the Treasury and a director of Parr's Bank. ... butbooks.google.com/books?isbn=0521441889
the number of foreign banks in London is continually increasing and the ... -
CMH: List of research in progress | Institute of Historical Research
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Progressive Era - Wikipedia, the free encyclopedia
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The Golden Age 1890-1914! Help...!? - Yahoo! Answers
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The City of London, Volume II: Golden Years, 1890-1914. By. David Kynaston .
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Class, Gender, and English Womens Sport, c. 1890-1914
Revolution, c. 1780-1880 (London: Croom Helm, 1980); Helen Meller, Leisure and
the Changing City,. 1870-1914 (London: Routledge & Kegan Paul, 1976); ...
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(Per)Forming Female Politics: The Making of the 'Modern Woman' in ...
City,” to ultimately the “Modern Woman.” My dissertation, “(Per)Forming Female.
Politics: The Making of the 'Modern Woman' in London, 1890-1914,” explores ...
kuscholarworks.ku.edu/dspace/bitstrea... - Similar -
The German Social Democratic Party 1890-1914 as a Political Model ...
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Kynaston leaves the Square Mile behind to begin his search for ...
May 26, 2007 ... The City of London's unofficial biographer is now embarked on a mammoth ....
Golden Years 1890-1914 (1995); Illusions of Gold 1914-1945 ...
business.timesonline.co.uk/tol/busine... - Similar
http://platypus1917.org/wp-content/uploads/readings/nettljp_spd.pdf
The German Social Democratic Party 1890-1914 as a Political Model
Peter Nettl
Past and Present, No. 30. (Apr., 1965), pp. 65-95.
Stable URL:
http://links.jstor.org/sici?sici=0031-2746%28196504%290%3A30%3C65%3ATGSDP1%3E2.0.CO%3B2-X
Past and Present is currently published by Oxford University Press.
(The German Social Democratic Party 1890-1914 as a Political Model.pdf)
Progressive Era
The Progressive Era in the United States was a period of social activism and reform that flourished from the 1890s to the 1920s.[1] The main goal of the Progressive movement was purification of government, as Progressives tried to expose and undercut political machines and bosses. Many (but not all) Progressives supported prohibition in order to destroy the political power of local bosses based in saloons.[2] At the same time, women's suffrage was promoted to bring a "purer" female vote into the arena.[3]
Many people led efforts to reform local government, education, medicine, finance, insurance, industry, railroads, churches, and many other areas. Progressives transformed, professionalized and made "scientific" the social sciences, especially as history[4], economics[5], and political science[6], as the day of the amateur author gave way to the research professor who published in the new scholarly journals and presses. The national political leaders included Theodore Roosevelt, Robert M. La Follette, Sr., Charles Evans Hughes and Herbert Hoover on the Republican side, and William Jennings Bryan, Woodrow Wilson and Al Smith on the Democratic side.
Initially the movement operated chiefly at local levels; later it expanded to state and national levels. Progressives drew support from the middle class, and supporters included many lawyers, teachers, physicians, ministers and business people.[7] The Progressives strongly supported scientific methods as applied to economics, government, industry, finance, medicine, schooling, theology, education, and even the family. They closely followed advances underway at the time in Western Europe[8] and adopted numerous policies, such as the banking laws which became the Federal Reserve System in 1914. They felt that old-fashioned ways meant waste and inefficiency, and eagerly sought out the "one best system".[9][10]
Contents |
Political reform
Disturbed by the inefficiencies and injustices of the Gilded Age, the progressives were committed to changing and reforming the country. Significant changes enacted at the national levels included the imposition of an income tax with the Sixteenth Amendment, direct election of Senators with the Seventeenth Amendment, Prohibition with the Eighteenth Amendment, and women's suffrage through the Nineteenth Amendment to the U.S. Constitution.[11]
Exposing corruption
Muckrakers were journalists who exposed waste, corruption, and scandal in the highly influential new medium of national magazines, such as McClure's, Ray Stannard Baker, George Creel and Brand Whitlock were active at the state and local level, while Lincoln Steffens exposed rule in many large cities; Ida Tarbell went after Rockefeller's Standard Oil Company. Samuel Hopkins Adams in 1905 showed the fraud involved in many patent medicines, Upton Sinclair's The Jungle (1906) was a novel that gave a horrid portrayal of how meat was packed, and David Graham Phillips unleashed a blistering indictment of the U.S. Senate in 1906. Roosevelt gave these journalists their nickname when he complained they were not being helpful by raking up all the muck.[12][13]
Modernization
The progressives were avid modernizers. They believed in science, technology, expertise—and especially education—as the grand solution to society's weaknesses. Characteristics of progressivism included a favorable attitude toward urban-industrial society, belief in mankind's ability to improve the environment and conditions of life, belief in obligation to intervene in economic and social affairs, and a belief in the ability of experts and in efficiency of government intervention.[14][15]
Democracy
Progressives sought to enable the citizenry to rule more directly and circumvent political bosses. Thanks to the efforts of Oregon Populist Party State Representative William S. U'Ren and his Direct Legislation League, voters in Oregon overwhelmingly approved a ballot measure in 1902 that created the initiative and referendum processes for citizens to directly introduce or approve proposed laws or amendments to the state constitution, making Oregon the first state to adopt such a system. U'Ren also helped in the passage of an amendment in 1908 that gave voters power to recall elected officials, and would go on to establish, at the state level, popular election of U.S. Senators and the first presidential primary in the United States. In 1911, California governor Hiram Johnson established the Oregon System of "Initiative, Referendum, and Recall" in his state, viewing them as good influences for citizen participation against the historic influence of large corporations on state assembly including job reform.[16] These Progressive reforms were soon replicated in other states, including Idaho, Washington, and Wisconsin, and today roughly half of U.S. states have these reforms.[17]
About 16 states began using primary elections to reduce the power of bosses and machines.[18] The Seventeenth Amendment was ratified in 1913, requiring that all senators be elected by the people (instead of the state legislature). The main motivation was to reduce the power of political bosses, who controlled the Senate seats by virtue of their control of the state legislature. The result, according to contemporary Observer Henry Ford Jones, was that the United States Senate had become a "Diet of party lords, wielding their power without scruple or restraint, in behalf of those particular interests" that put them in office.[19]
Municipal reform
Many cities set up municipal reference bureaus to study the budgets and administrative structures of local governments. In Illinois, Governor Frank Lowden undertook a major reorganization of state government.[20] In Wisconsin, the stronghold of Robert LaFollette, the Wisconsin Idea, used the state university as the source of ideas and expertise.[21]
Family and food
Progressives believed that the family was the foundation stone of American society, and the government, especially municipal government, must work to strengthen and enhance the family.[22] Local public assistance programs were reformed to try and keep families together. Inspired by crusading Judge Ben Lindsey of Denver, cities established juvenile courts to deal with disruptive teenagers without sending them to adult prisons. [23]. Special emphasis was put on pure milk and water supplies. At the state and national levels new food and drug laws strengthened local efforts to guarantee the safety of the food system. The 1906 federal Pure Food and Drug Act, which was pushed by drug companies and providers of medical services, removed from the market patent medicines that had never been scientifically tested.[24].
Eugenics
Some progressives, especially among economists, sponsored eugenics as a collectivist solution to excessively large or underperforming families, hoping that birth control would enable parents to focus their resources on fewer, better children.[25] However, most Progressives insisted on individual solutions, and there were no major national, state or local programs along eugenics lines. Progressive leaders like Herbert Croly and Walter Lippmann indicated their classically liberal concern over the danger posed to the individual by collectivism and statism.[26] The Catholics, although favoring collectivism, strongly opposed eugenics proposals such as birth control.[27]
Constitutional change
The Progressives tried to permanently fix their reforms into law by constitutional amendments, included Prohibition with the 18th Amendment and women's suffrage by the 19th amendment, both in 1920 as well as the federal income tax with the 16th amendment and direct election of senators with the 17th amendment. After Progressivism collapsed, the 18th amendment was repealed (in 1933).[28]
Prohibition
Prohibition was the outlawing of the manufacture, sale and transport of alcohol. Drinking itself was never prohibited. Throughout the Progressive Era, it remained one of the main causes at the local, state and national level. It achieved national success with the passage of the 18th Amendment by Congress in late 1917, and the ratification by three-fourths of the states in 1919. Prohibition was essentially a religious movement backed by the Methodists, Baptists, Congregationalists, Scandinavian Lutherans and other evangelical churches. Activists were mobilized by the highly effective Anti-Saloon League.[29] Timberlake (1963) argues the dries sought to break the liquor trust, weaken the saloon base of big-city machines, enhance industrial efficiency, and reduce the level of wife beating, child abuse, and poverty caused by alcoholism.[30]
Agitation for prohibition began during the Second Great Awakening in the 1840s when Crusades against drinking originated from evangelical Protestants.[31] Evangelicals precipitated the second wave of prohibition legislation during the 1880s, which had as its aim local and state prohibition. During the 1880s, referendums were held at the state level to enact prohibition amendments. Two important groups were formed during this period. The Women’s Christian Temperance Union (WCTU) was formed in 1874.[32] The Anti-Saloon League was formed in 1893, uniting activists from different religious groups.[33]
The third wave of prohibition legislation, of which national prohibition was the grand climax, began in 1907, when Georgia passed a state-wide prohibition law. By 1917, two thirds of the states had some form of prohibition laws and roughly three quarters of the population lived in dry areas. In 1913, the Anti-Saloon League first publicly appealed for a prohibition amendment. They preferred a constitutional amendment over a federal statute because although harder to achieve, they felt it would be harder to change. In 1913, Congress passed the Webb-Kenyon Act forbade the transport of liquor into dry states. As the United States entered World War I, the Conscription Act banned the sale of liquor near military bases.[34] In August 1917, the Lever Food and Fuel Control Act banned production of distilled spirits for the duration of the war. The War Prohibition Act, November, 1918, forbade the manufacture and sale of intoxicating beverages (more than 2.75% alcohol content) until the end of demobilization.
The drys worked energetically to secure two-third majority of both houses of Congress and the support of three quarters of the states needed for an amendment to the federal constitution. Thirty-six states were needed, and organizations were set up at all 48 states to seek ratification. In late 1917, Congress passed the Eighteenth Amendment; it was ratified in 1919 and took effect in January 1920. It prohibited the manufacturing, sale or transport of intoxicating beverages within the United States, as well as import and export. The Volstead Act, 1919, defined intoxicating as having alcohol content greater than 0.5% and established the procedures for enforcement of the Act.[35]
Consumer demand, however, led to a variety of illegal sources for alcohol, especially illegal distilleries and smuggling from Canada and other countries. It is difficult to determine the level of compliance, and although the media at the time portrayed the law as highly ineffective, even if it did not eradicate the use of alcohol, it certainly decreased alcohol consumption during the period.[36]
The Eighteenth Amendment was repealed in 1930, with the passage of the Twenty-First Amendment, thanks to a well organized repeal campaign led by Catholics (who stressed personal liberty) and businessmen (who stressed the lost tax revenue).[36]
Education
The Progressives worked hard to reform and modernize the schools at the local level. The era was notable for a dramatic expansion in the number of schools and students served, especially in the fast-growing metropolitan cities. After 1910 that smaller cities began building high schools. By 1940, 50% of young adults had earned a high school diploma. The result was the rapid growth of the educated middle class, who typically were the grass roots supporters of progressive measures.[37]
Medicine and Law
The "Flexner Report" of 1910, sponsored by the Rockefeller Foundation, professionalized American medicine by discarding the scores of local small medical schools and focusing national funds, resources, and prestige on larger, professionalized medical schools associated with universities.[38][39] In the legal profession, the American Bar Association set up in 1900 the Association of American Law Schools (AALS). It established national standards for law schools, which led to the replacement of the old system of young men studying law privately with established lawyers by the new system of accredited law schools associated with universities.[40]
Social Sciences
Progressive scholars, based at the emerging research universities such as Harvard, Columbia, John Hopkins, Chicago, Michigan, Wisconsin and California, worked to modernize their disciplines. The heyday of the amateur expert gave way to the research professor who published in the new scholarly journals and presses. Their explicit goal was to professionalize and make "scientific" the social sciences, especially as history[41], economics[42], and political science[43]. Professionalization meant creating new career tracks in the universities, with hiring and promotion dependent on meeting international models of scholarship.
Economic policy
The Progressive Era was one of general prosperity after the Panic of 1893—a severe depression—ended in 1897. The Panic of 1907 was short and mostly affected financiers. However, Campbell (2005) stresses the weak points of the economy in 1907-1914, linking them to public demands for more Progressive interventions. The Panic of 1907 was followed by a small decline in real wages and increased unemployment, with both trends continuing until World War I. Campbell emphasizes the resulting stress on public finance and the impact on the Wilson administration's policies. The weakened economy and persistent federal deficits led to changes in fiscal policy, including the imposition of federal income taxes on businesses and individuals and the creation of the Federal Reserve System.[44] Government agencies were also transformed in an effort to improve administrative efficiency.[45]
In the Gilded Age (late 19th century) the parties were reluctant to involve the federal government too heavily in the private sector, except in the area of railroads and tariffs. In general, they accepted the concept of laissez-faire, a doctrine opposing government interference in the economy except to maintain law and order. This attitude started to change during the depression of the 1890s when small business, farm, and labor movements began asking the government to intercede on their behalf.[45]
By the turn of the century, a middle class had developed that was leery of both the business elite and the radical political movements of farmers and laborers in the Midwest and West. The progressives argued the need for government regulation of business practices to ensure competition and free enterprise. Congress enacted a law regulating railroads in 1887 (the Interstate Commerce Act), and one preventing large firms from controlling a single industry in 1890 (the Sherman Antitrust Act). These laws were not rigorously enforced, however, until the years between 1900 and 1920, when Republican President Theodore Roosevelt (1901–1909), Democratic President Woodrow Wilson (1913–1921), and others sympathetic to the views of the Progressives came to power. Many of today's U.S. regulatory agencies were created during these years, including the Interstate Commerce Commission and the Federal Trade Commission. Muckrakers were journalists who encouraged readers to demand more regulation of business. Upton Sinclair's The Jungle (1906) showed America the horrors of the Chicago Union Stock Yards, a giant complex of meat processing that developed in the 1870s. The federal government responded to Sinclair's book with the new regulatory Food and Drug Administration. Ida M. Tarbell wrote a series of articles against the Standard Oil monopoly. This affected both the government and the public reformers. Attacks by Tarbell and others helped pave the way for public acceptance of the breakup of the oil monopoly by the Supreme Court in 1911.[45]
When Democrat Woodrow Wilson was elected President with a Democratic Congress in 1912 he implemented a series of progressive policies in economics. In 1913, the Sixteenth Amendment was ratified, and a small income tax was imposed on high incomes. The Democrats lowered tariffs with the Underwood Tariff in 1913, though its effects were overwhelmed by the changes in trade cause by the World War that broke out in 1914. Wilson proved especially effecting in mobilizing public opinion behind tariff changes by denouncing corporate lobbyists, addressing Congress in person in highly dramatic fashion, and staging an elaborate ceremony when he signed the bill into law.[46] Wilson helped end the long battles over the trusts with the Clayton Antitrust Act of 1914. He managed to bring all sides together on the issues of money and banking by the creation in 1913 of the Federal Reserve System, a complex business-government partnership that to this day dominates the financial world.[47]
In 1913, Henry Ford, adopted the moving assembly line, with each worker doing one simple task in the production of automobiles. Taking his cue from developments during the progressive era, Ford offered a very generous wage—$5 a day—to his (male) workers, arguing that a mass production enterprise could not survive if average workers could not buy the goods.[48]
[edit] Labor unions
Labor unions, especially the American Federation of Labor (AFL) grew rapidly in the early 20th century, and had a progressive agenda as well. After experimenting in the early 20th century with cooperation with business in the National Civic Federation, it turned after 1906 to a working political alliance with the Democratic party. The alliance was especially important in the larger industrial cities. The unions wanted restrictions on judges who intervened in labor disputes, usually on the side of the employer. They finally achieve that goal with the Norris-LaGuardia Act of 1932.[49]
[edit] Immigration
The level of immigration grew steadily after 1896, with most new arrivals unskilled workers from eastern and southern Europe, who found jobs working in the steel mills called my, slaughterhouses and construction crews in the mill towns and industrial cities. The start of World War I in 1914 suddenly stopped most international movement, which only resumed after 1919. Starting in the 1880s, the labor unions aggressively promoted restrictions on immigration, especially restrictions on Chinese and other Asians[50]. The basic fear was that large numbers of unskilled, low-paid workers would defeat the union's efforts to raise wages through collective bargaining[51]. Other groups, such as the prohibitionists, opposed immigration because it was the base of strength of the saloon power, and the West generally. Rural Protestants distrusted the urban Catholics and Jews who comprise most of the immigrants after 1890[52]. On the other hand, the rapid growth of the industry called for large numbers of new workers, so large corporations generally opposed immigration restriction. By the early 1920s the consensus had been reached and that the total influx of immigration had to be restricted, and a series of laws in the 1920s accomplish that purpose.[53] A handful of eugenics advocates were also involved in immigration restriction.[54]. Immigration restriction continued to be a national policy until after World War II.
During World War I, the progressives strongly promoted Americanization programs, designed to modernize the recent immigrants and turn them into model American citizens, with diminishing loyalties to the old country.[55] These programs often operated through the public school system, which expanded dramatically.[56]
Notable leaders of the Progressive Era
- Jane Addams, social worker
- Florence Kelley, child advocate
- Charles Beard, historian and political scientist
- Louis Brandeis, lawyer and Supreme Court justice
- William Jennings Bryan, Democratic presidential nominee
- Lucy Burns, suffragette
- Richard Clarke Cabot, medical reformer, pioneer in social work
- Andrew Carnegie, steel magnate, philanthropist, Carnegie libraries
- Carrie Chapman Catt, suffragette
- Herbert Croly, journalist
- John Dewey, philosopher
- W. E. B. Du Bois, philosopher, intellectual
- Thomas Edison, inventor
- Irving Fisher, economist
- Henry Ford, automaker
- Charlotte Perkins Gilman, feminist
- Susan Glaspell, playwright, novelist
- Emma Goldman, anarchist, philosopher, writer
- Lewis Hine, photographer
- Charles Evans Hughes, statesman
- William James, philosopher
- Hiram Johnson, California politician
- Samuel M. Jones, politician, reformer
- Robert M. La Follette, Sr., Wisconsin politician
- Walter Lippmann, journalist
- John R. Mott, YMCA leader
- George Mundelein, cardinal
- Alice Paul, suffragette
- Ulrich B. Phillips, historian
- Gifford Pinchot, conservationist
- Walter Rauschenbusch, theologian of Social Gospel
- Jacob Riis, reformer
- Theodore Roosevelt, President
- Elihu Root, statesman
- Margaret Sanger, birth control
- John D. Rockefeller, Jr., philanthopist
- Anna Howard Shaw, suffragette
- Upton Sinclair, novelist
- Albion Small, sociologist
- Ellen Gates Starr, sociologist
- Lincoln Steffens, reporter
- Henry Stimson, statesman
- William Howard Taft, President and Chief Justice
- Ida Tarbell, muckraker
- Frederick Winslow Taylor, efficiency expert
- Frederick Jackson Turner, historian
- Thorstein Veblen, economist
- Lester Frank Ward, sociologist
- Booker T. Washington, social reformist, leader
- Woodrow Wilson, U.S. President, banking reform, League of Nations
References
- ^ John D. Buenker, John C. Burnham, and Robert M. Crunden, Progressivism (1986) pp 3-21
- ^ James H. Timberlake, Prohibition and the progressive movement, 1900-1920 (1970) pp 1-7
- ^ On purification, see David W. Southern, The Malignant Heritage: Yankee Progressives and the Negro Question, 1901-1914, (1968); Southern, The Progressive Era And Race: Reaction And Reform 1900-1917 (2005); Steven Mintz, "Immigration Restriction" in Digital History; Norman H. Clark, Deliver Us from Evil: An Interpretation of American Prohibition (1976) p 170; and Aileen Kraditor, The Ideas of the Woman Suffrage Movement: 1890-1920 (1967). 134-36
- ^ Richard Hofstadter, The Progressive Historians: Turner, Beard, Parrington (1968)
- ^ Joseph Dorfman, The economic mind in American civilization, 1918-1933 (vol 3, 1969
- ^ Barry Karl, Charles E. Merriam and the Study of Politics (1975)
- ^ George Mowry, The California Progressives (1963) p 91.
- ^ Daniel T. Rodgers, Atlantic Crossings: Social Politics in a Progressive Age (1998)
- ^ Lewis L. Gould , America in the Progressive Era, 1890-1914 (2000)
- ^ David B. Tyack, The One Best System: A History of American Urban Education (Harvard UP, 1974), p. 39
- ^ David E. Kyvig, Explicit and authentic acts: amending the U.S. Constitution, 1776-1995 (Kansas UP, 1996) pp 208-14
- ^ Robert Miraldi, ed. The Muckrakers: Evangelical Crusaders (Praeger, 2000)
- ^ Harry H. Stein, "American Muckrakers and Muckraking: The 50-Year Schol arship," Journalism Quarterly, Spring 1979 v56 n1 pp 9-17
- ^ John D. Buenker, and Robert M. Crunden. Progressivism (1986); Maureen Flanagan, America Reformed: Progressives and Progressivisms, 1890s-1920s (2007)
- ^ Samuel Haber, Efficiency and Uplift Scientific Management in the Progressive Era 1890-1920 (1964)656
- ^ John M. Allswang, The initiative and referendum in California, 1898-1998, (2000) ch 1
- ^ "State Initiative and Referendum Summary". State Initiative & Referendum Institute at USC. http://www.iandrinstitute.org/statewide_i&r.htm. Retrieved 2006-11-27.
- ^ Alan Ware, The American direct primary: party institutionalization and transformation (2002)
- ^ Christopher Hoebeke, The road to mass democracy: original intent and the Seventeenth Amendment (1995) p 18
- ^ William Thomas Hutchinson, Lowden of Illinois: the life of Frank O. Lowden (1957) vol 2
- ^ "Progressivism and the Wisconsin Idea". Wisconsin Historical Society. 2008-02-06. http://www.wisconsinhistory.org/turningpoints/tp-036/?action=more_essay.
- ^ Gwendoline Alphonso, "Hearth and Soul: Economics and Culture in Partisan Conceptions of the Family in the Progressive Era, 1900-1920," Studies in American Political Development, Oct 2010, Vol. 24 Issue 2, pp 206-232
- ^ D'Ann Campbell, "Judge Ben Lindsey and the Juvenile Court Movement, 1901-1904," Arizona and the West, 1976, Vol. 18 Issue 1, pp 5-20
- ^ Marc T. Law, "The Origins of State Pure Food Regulation," Journal of Economic History, Dec 2003, Vol. 63 Issue 4, pp 1103-1131
- ^ Leonard, Thomas C. (2005) Retrospectives: Eugenics and Economics in the Progressive Era Journal of Economic Perspectives, 19(4): 207-224
- ^ Nancy Cohen, The reconstruction of American liberalism, 1865-1914 (2002) p 243
- ^ Celeste Michelle Condit, The meanings of the gene: public debates about human heredity (1999) p. 51
- ^ David E. Kyvig, Explicit and authentic acts: amending the U.S. Constitution, 1776-1995 (1996)
- ^ K. Austin Kerr, Organized for Prohibition: A New History of the Anti-Saloon League (1985).
- ^ James Timberlake, Prohibition and the Progressive Movement, 1900-1920 (Harvard UP, 1963)
- ^ Jack S. Blocker, American Temperance Movements: Cycles of Reform (1989)
- ^ Jed Dannenbaum, Drink and Disorder: Temperance Reform in Cincinnati from the Washingtonian Revival to the WCTU (1984)
- ^ Kerr, Organized for Prohibition: A New History of the Anti-Saloon League (1985)
- ^ S.J. Mennell, "Prohibition: A Sociological View," Journal of American Studies 3, no. 2 (1969): 159-175.
- ^ David E. Kyvig,Repealing National Prohibition (Kent State University Press. 2000)
- ^ a b Kyvig, Repealing National Prohibition
- ^ David B. Tyack, The One Best System: A History of American Urban Education (Harvard University Press, 1974)
- ^ Abraham Flexner, Flexner Report on Medical Education in the United States and Canada 1910 (new edition 1960)
- ^ Lawrence Friedman and Mark McGarvie, Charity, philanthropy, and civility in American history (2003) p. 231
- ^ Steven J. Diner, A Very Different Age: Americans of the Progressive Era (1998) p. 186
- ^ Richard Hofstadter, The Progressive Historians: Turner, Beard, Parrington (1968)
- ^ Joseph Dorfman, The economic mind in American civilization, 1918-1933 (vol 3, 1969
- ^ Barry Karl, Charles E. Merriam and the Study of Politics (1975)
- ^ Ballard Campbell, "Economic Causes of Progressivism," Journal of the Gilded Age and Progressive Era, Jan 2005, Vol. 4 Issue 1, pp 7-22
- ^ a b c Harold U. Faulkner, The Decline of Laissez Faire, 1897-1917 (1951)
- ^ Vincent W. Howard, "Woodrow Wilson, The Press, and Presidential Leadership: Another Look at the Passage of the Underwood Tariff, 1913," CR: The Centennial Review, 1980, Vol. 24 Issue 2, pp 167-184
- ^ Arthur S. Link, Woodrow Wilson and the progressive Era, 190-1917 (1954) pp 25-80
- ^ American Heritage website retrieved 27 October 2008.
- ^ Julie Greene, Pure and Simple Politics: The American Federation of Labor and Political Activism, 1881-1917 (1998)
- ^ Robert D. Parmet, Labor and immigration in industrial America (1987) p. 146
- ^ Gwendolyn Mink, Old Labor and New Immigrants in American Political Development: Union, Party and State, 1875-1920 (1990)
- ^ Daniel J. Tichenor, Dividing lines: the politics of immigration control in America (2002) p. 71
- ^ Claudia Golden, "The Political Economy of Immigration Restriction in the United States, 1890 to 1921," in Goldin, The regulated economy (1994) ch 7
- ^ Thomas C. Leonard, "Retrospectives: Eugenics and Economics in the Progressive Era" Journal of Economic Perspectives, (2005) 19(4): 207-224
- ^ James R. Barrett, "Americanization from the Bottom, Up: Immigration and the Remaking of the American Working Class, 1880–1930," Journal of American History 79 (December 1992): 996–1020. in JSTOR
- ^ Christina A. Ziegler-McPherson, Americanization in the States: Immigrant Social Welfare Policy, Citizenship, and National Identity in the United States, 1908-1929 (2009)
Further reading
Overviews
- Buenker, John D., John C. Burnham, and Robert M. Crunden. Progressivism (1986)
- Buenker, John D. and Joseph Buenker, Eds. Encyclopedia of the Gilded Age and Progressive Era. Sharpe Reference, 2005. xxxii + 1256 pp. in three volumes. ISBN 0-7656-8051-3. 900 articles by 200 scholars
- Buenker, John D., ed. Dictionary of the Progressive Era (1980)
- Cocks, Catherine, Peter C. Holloran and Alan Lessoff. Historical Dictionary of the Progressive Era (2009)
- Diner, Steven J. A Very Different Age: Americans of the Progressive Era (1998)
- Glad, Paul W. "Progressives and the Business Culture of the 1920s," Journal of American History, Vol. 53, No. 1. (June 1966), pp. 75–89. in JSTOR
- Gould, Lewis L. America in the Progressive Era, 1890-1914" (2000)
- Gould Lewis L. ed., The Progressive Era (1974)
- Hays, Samuel D. The Response to Industrialization, 1885-1914 (1957),
- Hofstadter, Richard, The Age of Reform (1954), Pulitzer Prize
- Jensen, Richard. "Democracy, Republicanism and Efficiency: The Values of American Politics, 1885-1930," in Byron Shafer and Anthony Badger, eds, Contesting Democracy: Substance and Structure in American Political History, 1775-2000 (U of Kansas Press, 2001) pp 149–180; online version
- Kennedy, David M. ed., Progressivism: The Critical Issues (1971), readings
- Lasch, Christopher. The True and Only Heaven: Progress and its Critics (1991)
- Leuchtenburg, William E. "Progressivism and Imperialism: The Progressive Movement and American Foreign Policy, 1898-1916," The Mississippi Valley Historical Review, Vol. 39, No. 3. (Dec., 1952), pp. 483–504. JSTOR
- Mann, Arthur. ed., The Progressive Era (1975)
- McGerr, Michael. A Fierce Discontent: The Rise and Fall of the Progressive Movement in America, 1870-1920 (2003)
- Mowry, George. The Era of Theodore Roosevelt and the Birth of Modern America, 1900-1912. (1954) general survey of era
- Burl Noggle, "The Twenties: A New Historiographical Frontier," The Journal of American History, Vol. 53, No. 2. (Sep., 1966), pp. 299–314. in JSTOR
- Pease, Otis, ed. The Progressive Years: The Spirit and Achievement of American Reform (1962), primary documents
- Rodgers, Daniel T. Atlantic Crossings: Social Politics in a Progressive Age (2000). stresses links with Europe online edition
- Thelen, David P. "Social Tensions and the Origins of Progressivism," Journal of American History 56 (1969), 323-341 online at JSTOR
- Wiebe, Robert. The Search For Order, 1877-1920 (1967).
Presidents and politics
- Beale Howard K. Theodore Roosevelt and the Rise of America to World Power. (1956).
- Blum, John Morton. The Republican Roosevelt. (1954). Series of essays that examine how TR did politics
- Brands, H.W. Theodore Roosevelt (2001).
- Clements, Kendrick A. The Presidency of Woodrow Wilson (1992).
- Coletta, Paolo. The Presidency of William Howard Taft (1990).
- Cooper, John Milton The Warrior and the Priest: Woodrow Wilson and Theodore Roosevelt. (1983).
- Cooper, John Milton Woodrow Wilson: A Biography (2009)
- Gould, Lewis L. The Presidency of Theodore Roosevelt (1991).
- Harbaugh, William Henry. The Life and Times of Theodore Roosevelt. (1963).
- Harrison, Robert. Congress, Progressive Reform, and the New American State (2004).
- Hofstadter, Richard. The American Political Tradition (1948), ch. 8-9-10.
- Kolko, Gabriel. "The Triumph of Conservatism" (1963).
- Link, Arthur Stanley. Woodrow Wilson and the Progressive Era, 1910-1917 (1954).
- Morris, Edmund Theodore Rex. (2001), biography of T. Roosevelt covers 1901-1909
- Mowry, George E. Theodore Roosevelt and the Progressive Movement. (2001).
- Pestritto, R.J. "Woodrow Wilson and the Roots of Modern Liberalism." (2005).
- Sanders, Elizabeth. Roots of Reform: Farmers, Workers and the American State, 1877-1917 (1999).
- Wilson, Joan Hoff. Herbert Hoover, Forgotten Progressive (1965).
State, local, ethnic, gender, business, labor, religion
- Abell, Aaron I. American Catholicism and Social Action: A Search for Social Justice, 1865-1950 (1960).
- Bruce, Kyle and Chris Nyland. "Scientific Management, Institutionalism, and Business Stabilization: 1903-1923" Journal of Economic Issues, Vol. 35, 2001. in JSTOR
- Buenker, John D. Urban Liberalism and Progressive Reform (1973).
- Buenker, John D. The History of Wisconsin, Vol. 4: The Progressive Era, 1893-1914 (1998).
- Feffer, Andrew. The Chicago Pragmatists and American Progressivism (1993).
- Frankel, Noralee and Nancy S. Dye, eds. Gender, Class, Race, and Reform in the Progressive Era (1991).
- Hahn, Steven. A Nation under Our Feet: Black Political Struggles in the Rural South from Slavery to the Great Migration (2003).
- Huthmacher, J. Joseph. "Urban Liberalism and the Age of Reform" Mississippi Valley Historical Review 49 (1962): 231-241, in JSTOR; emphasized urban, ethnic, working class support for reform
- Link, William A. The Paradox of Southern Progressivism, 1880-1930 (1992).
- Montgomery, David. The Fall of the House of Labor: The workplace, the state, and American labor activism, 1865-1925 (1987).
- Muncy, Robyn. Creating A Feminine Dominion in American Reform, 1890-1935 (1991).
- Lubove, Roy. The Progressives and the Slums: Tenement House Reform in New York City, 1890-1917 Greenwood Press: 1974.
- Recchiuti, John Louis. Civic Engagement: Social Science and Progressive-Era Reform in New York City (2007).
- Stromquist, Shelton. Reinventing 'The People': The Progressive Movement, the Class Problem, and the Origins of Modern Liberalism, (U. of Illinois Press, 2006). ISBN 0-252-07269-3.
- Thelen, David. The New Citizenship, Origins of Progressivism in Wisconsin, 1885-1900 (1972).
- Wesser, Robert F. Charles Evans Hughes: politics and reform in New York, 1905-1910 (1967).
- Wiebe, Robert. "Business Disunity and the Progressive Movement, 1901-1914," The Mississippi Valley Historical Review, Vol. 44, No. 4. (Mar., 1958), pp. 664–685. in JSTOR
See also
- President Theodore Roosevelt (Republican, 1901–1909)
- Trust-busting
- Upton Sinclair, The Jungle (1906)
- Wisconsin Idea
- Robber Barons
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http://eh.net/book_reviews/london-and-paris-international-financial-centres-twentieth-century
London and Paris as International Financial Centres in the Twentieth Century
Published by EH.NET (November 2006)
Youssef Cassis and Éric Bussière, editors, London and Paris as International Financial Centres in the Twentieth Century. Oxford: Oxford University Press, 2005. xii + 367 pp. $125 (hardcover), ISBN: 0-19-926949-1.
Reviewed for EH.Net by Mira Wilkins, Department of Economics, Florida International University
This book has a truly exciting set of fifteen chapters (sixteen contributors). Youssef Cassis starts off with a brief comparison between London and Paris as international financial centers in the twentieth century. After his introduction, there are four parts (one general and three chronological), with alternate chapters on London and Paris. Part I has the first pair: Ranald Michie and Alain Plessis deal respectively with London and Paris in a "long-term perspective, 1890-2000." In a splendid essay, Michie insists that London as a financial center took shape as an addition to (not a substitute for) its role as a commercial center. London's port, its insurers, its activities in the distribution of minerals and metals were complementary to its central position in international finance. Trade finance, short and long-term investments, and the role of stock markets are deftly handled by Michie, who emphasizes the dynamics of the City with its changing and evolving characteristics. World War I proved a "major blow" to London as an international center, but it recouped. With nuances, Michie covers the inter-war and World War II ups and downs in London's position. World War II was another watershed. With the nationalization of the Bank of England in 1945, government interventions in financial matters became the norm. Yet, throughout, London remained cosmopolitan, in time reviving its position as a major international financial center. In December 1999 the governor of the Bank of England would call London the world's predominant international financial center. This was perhaps an exaggeration, underestimating New York. Nonetheless, the rebirth of the City at the end of the twentieth century was remarkable. Michie explains why.
Plessis's eleven pages on Paris do not offer as comprehensive an overview as Michie's but then Paris was not London. Plessis shows the strengths of Paris as a financial center in the decades before World War I, its "withdrawal 1914-1926" (including the resales of the best securities abroad and the collapse of loans to Russia and the Ottoman Empire, with France moving from creditor to debtor nation in these years). Plessis's next sub-headings are "The Great Hope, 1918-1930" (with the stabilized franc and solid current account surpluses), "An Enduring Eclipse, 1931-1958" (with the accumulation of negative impacts on Paris as a financial center), and finally "Toward a New International Role for Paris as a Financial Centre" (beginning with France's participation in the European common market and the re-establishing of external convertibility of the currency in 1958, and then, too rapidly, he rushes through the next two decades, not really bringing the story to 2000, as Michie had).
Part II is on 1890-1914. Here the first pair of British-French chapters is not a symmetrical coupling (nor are the subsequent pairs). Each contribution fills gaps in the overviews. Michie's summary devoted little attention to empire, to imperialism, in defining London's role as an international financial center. Niall Ferguson's controversial, and as is his practice highly stimulating, presentation re-looks at the older familiar literature on capitalism and imperialism (on sinister financial interests) and reviews the range of re-considerations of this equation from the 1960s onward. Ferguson brings back to the table the significance of formal empire in London's place as a financial center. Taking on Michael Bordo and other recent economic historians, Ferguson claims British rule provided more than the good "housekeeping guarantees" of the gold standard. Ferguson sees empire as highly germane to understanding the City before World War I. Many historians have been appalled by Ferguson's conservatism, his politically incorrect willingness to maintain that imperialism may not have been such a bad thing after all. The ideological blinders of these critics should not stop them from taking Ferguson's arguments seriously. Even if one does not share all his arguments, he is convincing as he shows that access to London capital markets for those countries within the empire was lower cost and easier than for most countries outside the formal empire. Yet Ferguson never considers the largest single recipient of British capital in this era, the United States. This omission provides, perhaps, a flaw in Ferguson's argument, but some may argue far from a fatal one.
The French contribution to this pair is by Marc Flandreau and François Gallice; it shifts the tone and orientation. In this important chapter, the authors look at short-term international capital movements, 1885-1913, using data from the records of the Banque de Paris et des Pays-Bas (Paribas). Their contribution reveals the great value of using bank (and more generally) business records. This essay is as much about London as about Paris as an international financial center. Their study offers splendid new data and insights into the characteristics of short-term capital movements; it expands horizons.
The next twin covers banks and international finance, 1890-1914. Cassis supplies a snapshot of the specialized, fragmented London banking institutions along with the financial markets in which they participated and competed. Samir Saul's approach differs, focusing on alliances between banks within syndicates, seeking to establish the managers and participants in underwriting and issue consortia. His data base consists of 311 issues of foreign governments and companies, as found in Crédit Lyonnais's records, supplemented by other information.
Part III, entitled "From Global Reach to Regional Withdrawal, 1914-1958," has offerings from P.L. Cottrell on London and Hubert Bonin on Paris banking and finance. Part IV on the "Road to Globalization, 1958-1980," contains two sets of papers. Catherine Schenk offers keen insights into the policy environment of international banking in the City, while Olivier Feirtag tells of the "international opening up" of the Paris Bourse. The second pair in Part IV comprises contributions from Mae Baker and Michael Collins on "London as an International Banking Centre" and Éric Bussière on "French Banks and the Eurobonds Issue Market during the 1960s." And, then, completing the chronology (and the volume), in the final part, Part V, there is a very neat study of the last twenty years of the twentieth century by Richard Roberts, who playfully asks of London: "Global Powerhouse or Wimbledon EC2?" -- while André Straus speculates on the future of the Paris market as an international financial center from the perspective of European integration.
I missed a chapter on the interaction between London and Paris: how often were issues listed on both exchanges? How much arbitrage was there between the centers? How frequently were issues denominated in both pounds and francs? How often did Frenchmen go through London in their international transactions? To what extent did British and French banks have cross connections? We learn of French banks with outlets in London, but what about vice versa? It would be useful to think about the Lazards, Rothschilds, and Morgans in the context of London and Paris as international financial centers. There is so much to consider vis-a-vis interactions. For example, how did the two centers interact in the Euro dollar market? What did British entry into the European community do to the relationships between London and Paris as international financial centers? Plessis (to a limited extent) and Flandreau and Gallice do discuss associations between the French and British central banks, but neither contribution extends the discussion beyond 1914. How did the two central banks interact during the entire twentieth century?
While this book tells a tale of two cities, there is a third one that hovers in the background: New York. A criticism of this book is not that New York is absent in the presented story (it is there, albeit not in a systematic manner), but there seems to be a lack of awareness by most of the authors of the relevant U.S. literature (for example on British and French participation in the Eurobond markets).
These few reservations should not turn the reader from the high value of this book. This is a well-integrated volume that should be in the library of every economic historian who deals with international banking and finance in the late nineteenth and twentieth century. I read it with great absorption and delight.
Mira Wilkins is professor of economics at Florida International University. Her most recent book is The History of Foreign Investment in the United States, 1914-1945 (Harvard University Press, 2004). It is the second volume in her three volume history of foreign investment in the United States (the first was published in 1989); the third, which will carry the story from 1945 to present, is in progress. Wilkins covers foreign direct investment and, also, the entire range of other long-term foreign investments in the United States.
Central Bank Gold Reserves: A Historical Perspective Since ...
Bank of England's gold reserves fell by over 30% between the summer of ....
League of Nations: Selected documents submitted to the Gold Delegation of ...
http://www.famguardian.org/Subjects/MoneyBanking/FederalReserve/CentralBankGoldReserves.pdf
(26 pages)
PREFACE ........................................................................................................................1
INTRODUCTION ........................................................................................................2
CENTRAL BANK GOLD RESERVES: An historical perspective since 1845
1850: a watershed in production ....................................................................................3
The surge in output:1850-55 ..........................................................................................6
The switch to the gold standard:1855-90........................................................................7
The rise in central bank stocks: 1890-1914 ....................................................................9
The impact of war:1914 ................................................................................................10
After 1918: restoring the gold standard? ......................................................................11
Sources ........................................................................................................................15
Table 1: Central Bank/Treasury Stocks 1845-1945 ......................................................16
Table 2: Gold Reserves, Selected Countries 1950-1998 ..............................................18
Table 3: “Monetary Gold” ............................................................................................20
Table 4: Leading Central Banks/Treasuries ..................................................................21
Table 5: Gold Coin Minting: Main Countries ................................................................22
Table 6: Total Gold Coins Minted 1873-1895 ..............................................................23
Table 7: Gold Holdings: US National & State Banks ....................................................23
Table 8: World Gold Production 1835-1949 ................................................................23
Note: Throughout this study the weight of gold is usually indicated in metric tonnes, abbreviated as m.t.
The views expressed in this study are those of the author and not necessarily those of the World Gold Council.
While every care has been taken, the World Gold Council cannot guarantee the accuracy of any statement or
representation made.
SOURCES (pg 16 of 26)
Board of Governors of the Federal Reserve System: Banking and Monetary
Statistics, Washington DC, 1943.
Bank of England: Weekly Returns, 1844-1914.
Bank of England: The Bullion Business of the Bank of England, private circulation
within The Bank, 1869.
Busschau,W. J.: Measure of Gold, Central News Agency, Johannesburg, 1949.
Busschau, W. J.: Gold and International Liquidity, South African Institute of
International Affairs, Johannesburg, 1971.
Chevalier, Michael (trs), Cobden, Richard: On the Probable Fall in the Value of
Gold, A. Ireland, London, 1859.
Director of the Mint, Washington DC: Report, 1886-88.
Director of the Mint, Washington DC: Report,1896.
Director of the Mint, Washington DC: Report, 1906.
Farrer, Studies in Currency, Macmillan, London, 1898.
Director of the Mint, Washington DC: Annual Report, 1940.
Director of the Mint, Washington DC: Annual Report, 1947.
Feaveryear, A. E. F.: The Pound Sterling, A History of English Money, Oxford, 1931.
Gregory,T. E.: The Gold Standard and its Future, Methuen, London, 1934.
Green,Timothy: Precious Heritage: The Story of Mocatta & Goldsmid, Rosendale
Press, London, 1984.
Green,Timothy: The World of Gold, Rosendale Press, London, 1993.
Haupt,Ottomar: L’Histoire Monétaire de Notre Temps, J.H. Truchy, Paris, 1886.
House of Commons: Select (Secret) Committee on The Bank Acts, 1857.
House of Commons: Select Committee on Depreciation of Silver, Minutes of
Evidence and Appendix, London, July 1876.
Laughlin, J. L.: History of Bimetallism in the United States, D. Appleton, New
York, 1895.
League of Nations: International Financial Conference, Paper II, Currency
Statistics.Harrison & Sons, London, 1920.
League of Nations: Selected documents submitted to the Gold Delegation of
the Financial Committee, Geneva, 1930.
National Monetary Commission, Washington DC, 1911.
Royal Institute of International Affairs: The International Gold Problem: A
Record of the Discussions of Study Group, Members of the Royal Institute
of International Affairs 1929-31, Oxford University Press, 1931.
Royal Commission: First Report of the Royal Commission on Recent Changes in
the Relative Values of the Precious Metals: with Minutes of Evidence and
Appendices, London, 1887.
Royal Commission on Indian Currency and Finance, cd 7238, 1913, Appendix
XXX.
Royal Commission on Indian Currency and Finance, London, 1926, Appendix
82, Evidence of Joseph Kitchin.
Soetbeer, Dr. Adolph: Materialen, Hamburg, 1886.
Strakosch, Sir Henry: Paper on Monetary Gold Stocks.Gold, The Times, 1933.
Tooke & Newmarch, History of Prices and the State of the Circulation 1792-1856,
6 vols, Longman Brown, London, 1857.
White, Benjamin: Gold, Pitman, London, 1919.
(pg 26 of 26) following
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WOR LD G O L D COUNCI L
http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0289.1985.tb00367.x/abstract
http://en.wikipedia.org/wiki/John_Lubbock,_2nd_Baron_Avebury
