Great Debate on Banking Reform: Nelson Aldrich and the Origins of the Fed
Eminent historian of economics Elmus Wicker examines the events which spurred a series of banking panics beginning in 1893-94, that led to the creation of the U.S. Federal Reserve Bank twenty years later. A serious lacuna exists in the literature on the origins of the Federal Reserve System. What is absent is a fair appraisal of the role Senator Nelson Aldrich, prominent Rhode Island senator, played. Carter Glass captured the acclaim while asserting that Aldrich be granted equal billing with...
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Eminent historian of economics Elmus Wicker examines the events which spurred a series of banking panics beginning in 1893-94, that led to the creation of the U.S. Federal Reserve Bank twenty years later. A serious lacuna exists in the literature on the origins of the Federal Reserve System. What is absent is a fair appraisal of the role Senator Nelson Aldrich, prominent Rhode Island senator, played. Carter Glass captured the acclaim while asserting that Aldrich be granted equal billing with Glass as "fathers" of the Federal Reserve System.
Ch. 1The great debate : an overview1Ch. 2Recent literature revisited8Ch. 3The quest for an asset-based currency, 1894-190822Ch. 4The Aldrich-Vreeland Act42Ch. 5Jekyll Island and the Aldrich Bill52Ch. 6The Glass Bill70Ch. 7The Aldrich and Glass-Owen bills compared84Ch. 8Theoretical underpinnings95Ch. 9Epilogue104
