The Challenge of Credit Supply

Michael Anthony Kirsch

in Vernon Press Titles in Economics from Vernon Art and Science Inc

Abstract: This book is for anyone seeking a succinct and accessible treatment of the most pivotal financial and monetary policies throughout American history from 1650-1950. But it is especially written for those who desire an intricate and detailed knowledge of how and why these policies worked with respect to the supply of adequate credit for economic development. A thorough examination of key credit institutions and their specific powers, functions, mechanisms, context, and economic impact brings the reader to a recognition of which policies and institutions were successful and unsuccessful in supporting the economy and preventing crisis. Its extensive use of primary sources, period literature, and carefully chosen quotations allows the reader to participate in the original discussion and issues that faced Americans in each era. This vivid account leads to a unique grasp of relationships between essential facts, ideas, and time periods. The reader is rewarded with the rare experience of seeing the evolution of three hundred years of policy development as an integrated process. The book’s content will be new and provoking to the academic, policy maker, and economist, but is presented in a manner and style ensuring comprehension for a general audience and those new to the topics involved. Many of the lessons learned in the course of the investigation are relevant and applicable to modern economic and financial policies.

Keywords: John Quincy Adams; Balance of Trade; Bank credit; Bank of North America; Bank of the United States; Thomas Benton; Nicholas Biddle; Bills of exchange; Bills of credit; Eugene Black; John Blackwell; Salmon P. Chase; Langdon Cheves; Freeman Clarke; Colonial office; Stephen Colwell; Continental Congress; Alexander Dallas; Deposit and Distribution Act; Discounts; Domestic exchange; Marriner Eccles; William Elder; Federal Reserve Board; William Fessenden; Benjamin Franklin; Free banking; Foreign exchange; Funding system; funded debt; Alexander Hamilton; Hiland Hulburd; Andrew Jackson; Jesse Jones; Independent Treasury; Industrial Advances Act; Industrial credit; Investment banking; John Knox; David Lawrence; Legal tender notes; Abraham Lincoln; Loanable Funds; James Madison; Cotton Mather; Massachusetts Bay; Hugh McCulloch; James Mead; Means of payment; Medium of exchange; Gouverneur Morris; Robert Morris; National Bank; National Banking Act; National Banking System; James Polk; William Potter; Thomas Pownall; Promissory note; Public credit; Public debt; Reconstruction Finance Corporation (RFC); Specie; Specie Circular; Specie payments; Specie resumption; Menc Szymczak; Charles W. Tobey; Martin Van Buren; H. Parker Willis; James Wilson; John Jr. Winthrop; Waitstill Winthrop; Oliver Wolcott; John Woodbridge (search for similar items in EconPapers)
Date: 2016 Written 2016-01-26
Edition: 1
ISBN: 978-1-62273-056-8
References: View complete reference list from CitEc
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