B

Bacon, Robert, 192

Bailey, W. J., 414

Baker, George F., 207, 235, 245

Baker, Newton D., 281

Baldwin, Henry, 148n

Baldwin, Stanley, 367n

Ballantine, Arthur A., 289

“Bancor,” 481, 483

Bankers Magazine, 148, 204, 240

Banking, 87, 113, 143, 168, 295, 428, 448

Act of 1933, 315

Act of 1935, 317, 331, 337, 341–42

bank holiday, 453

branches and cartelization, 205

central reserve city banks, 136–41, 154

collapse of, 453

commercial paper, 163–64, 238, 250

compulsory par law of 1819, 81

country banks, 116–18, 121–22, 137–41, 197, 206, 242, 247

decentralized banking, 77, 112–14, 136n, 135, 137, 204–05, 238–39, 242–43, 247, 253

demand deposits, 69–71, 71n, 137, 144, 147n, 186–87, 418

paying interest on, 139–41

practice prohibited, 139n, 315, 318

failures

cotton speculation and, 101

easy money cause of, 277

effect money supply, 276

give other banks pause, 294

fractional reserve, 97, 295, 354–55

beginnings of, 57, 60

distrust of, 168

opposition to, 90–92, 112

post–Civil War, 168

pre–Civil War, 112–13

free, 77, 77n–78n

pre–Civil War era, 112–13, 135–37, 142, 152

transformation to centralized, 134–37, 142

national banking system, 120–22, 129, 132–47, 136n, 153, 246

change in structure, 141–42

creation of three national bank types, 136–37

Gold Standard Era and 159–60

inner contradictions of, 135

inverted pyramiding scheme of, 137–39, 141

unhappiness with, 185–88, 186n, 204

National Banking Acts, 134–35, 145, 163, 167, 186–87

National Banking System Act of 1863, 122

notes, expansion of, 56, 73

Peel’s Bank Act of 1844, 204n

“pet banks,” 93, 104, 208

private notes, 56–58

problems, 249

pyramiding, 62, 69, 71, 75, 90, 137–39, 140–42, 154, 160

state banking system

replaced by national banking system, 135, 137, 143

time deposits, 418

wildcat banking, 78–79, 114See alsoBanks; Glass-Steagall Act; Credit expansion

Bank(s)

Bank for International Settlements (BIS), 276–77, 398, 426–27

Bank for Mutual Redemption, 121–22

Bank of England, 62, 99, 204, 245, 270–72, 286, 319, 360, 364–77, 382–86, 399, 406, 410, 421, 427–31, 442–47, 483

Committee on Currency and Bank of England Note Issue, 364

Bank of North America, 62–64, 63n, 68, 72

Boden-Kredit-Anstalt of Vienna, 450

central banks, 64, 234, 241, 252–53

abolish, 92, 104

academic organizations and, 249

acquiring legitimacy for, 236

drive for, 234

lender of last resort, 40, 187, 240, 246, 368

legislative activity for, 243–44

restraint, on inflation, myth of, 71–75, 78, 93–94, 96

secret conclave to draft plans for, 252–53

crisis of 1933, 293, 297

Federal Reserve Bank of Chicago, 445

Federal Reserve Bank of New York, 318, 399, 443–45, 484

First Bank of the U. S. 1791–1811, 68–72, 71n, 72n

First National Bank of Chicago, 201, 237, 246, 256, 302, 309, 456

First National Bank of Philadelphia, 146

First National Bank of Washington, D.C., 146

Fourth National Bank of New York, 146

International Bank for Reconstruction and Development, 482n

Kuhn, Loeb, 188, 192, 195, 230, 235, 235n, 292, 299, 310, 432

among financial elites, 263, 266

central bank proponent, 188, 234

Massachusetts Land Bank, 51–53, 55, 57–58, 58n

Mellon National Bank, 267, 378

National City Bank of New York, 298

New England Bank of Boston, 115

Rockefeller–Harriman–Kuhn, Loeb, 192, 262, 263

Second Bank of U.S. 1816–1833, 82–96

demise of, 92, 101

fraud abounded at, 86–88

launched inflation of money from inception, 86–87

Suffolk Bank, 114–22

demise of, 116, 121–22

free-market success, 115

stabilizing effects of, 118–19See alsoFederal Reseve Bank

Barrows, David P., 225n

Barter, 90, 352

Baruch, Bernard M., 279–81, 299, 306, 313, 464, 466, 474

Beaverbrook, Lord, 405–06, 482

Bechtel, Stephen, 334n–34n

W.A. Bechtel Company, 333n–34n

Beckers, Dr. William, 279n

Belmont, August, 169

Bendix, Vincent, 298, 454

Benston, George J., 315

Benton, Thomas Hart, 91–92

Bernstein Plan, 490

Bestor, Paul, 289

Bethlehem Steel, 370

Bevan, Aneurin “Nye,” 404

Bicester, Lord, 369

Biddle, Nicholas, 92–94, 96

Billias, George Athan, 58

Bimetallism, 47, 104–06, 109–11, 167, 219, 222, 231, 353

coinage, 65–68

end of, 108

fallacies of, 220

Bingham, William, 92

Bird, Kai, 347

Birmingham, Stephen, 215

Black, Eugene R., 301, 336

Blackett, Sir Basil, 391–92, 447

Bland-Allison Silver Purchase Act of 1878, 160

Blumenthal, George, 279

Board of Economic Warfare, 339

Bombshell message, 307, 465–66

Bonn, Moritz J., 431

Boom-bust cycle, 54, 95, 355

Currency School cycle, theory of, 91

national, first, 89–91, 94–95, 101

full scale inflationary, 88

Boothby, G.R., 481

Bovenizer, George W., 320

Boyle, Andrew, 374

Boxer Rebellion, 228–29

Bradbury, Sir John, 365, 367

Bradley, Justice Joseph P., 153

Braeman, John, 291

Brandeis, Louis D., 299, 322

Bremner, Robert H., 291

Bretton Woods Agreement, 43, 208–09, 232, 306, 345–46, 432–33, 475, 482–86

Brimhall, Dean, 335

Britain. SeeGreat Britain

British Royal Dutch Shell Oil, 308

Bronson, Isaac, 79

Bruere, Henry, 301n

Bryan, William Jennings, 169–70, 176–77, 188

Bryanism, 169, 177–78, 189–90, 197

Buchanan, James A., 87n

Bullitt, William C., 459

Bureau of Budget, 304, 335

Bureau of Insular Affairs (BIA), 221–22

Burgess, W. Randolph, 287, 483

Burnett, Cody, 59

Burton, Theodore, 245, 257

Bush, Irving T., 246

Bush, Thomas G., 194

Business Advisory Council (BAC), 300–01

Business Week, 278, 426

Business Men’s Monetary Reform League, 254

Butler, Nicholas Murray, 241