America's Great Depression (58 page)

Brookbart, Smith, 247

Beckhart, Benjamin Haggott, 139,

Brown, Harry Gunnison, 22

147, 156, 164, 180

Brown, J. Douglas, 264, 311

Belgium, 152

Brown, William Adams, Jr., 150–51,

Bellerby, J.R., 177, 179

251

Bendix, Vincent, 309

Brownell, F.H., 243

Benedict, Murray R., 218, 224, 234

Bruere, Henry, 266

Benes, Eduard, 175

Bryan, William Jennings, Jr., 308

Benham, Frederic, 51, 143

Budge, Siegfried, 9

Berglund, Abraham, 139

Budget, See Government

Bernays, Edward, 247

Bernstein, Irving, 200, 213, 244,

Burgess, W. Randolph, 151

246, 252–53, 264–65, 271,

Burlingham, C.C., 252

300

Burtness, B., 177, 309

Berridge, William A., 293

Business cycles, 3–4, 7, 30, 33,

Bestor, Paul, 275

35–36, 47, 49–50, 58, 63–65,

Beveridge, William, 143

67–68, 75, 85, 93, 195, 198

Bills discounted, See Federal

causes of, 6, 8, 55, 72, 80

Reserve System

recurrence of, 33

Bimetallism, See Silver

see also
Deflation, Depression,

Black, Hugo, 243

Inflation, Business cycles

Black, John D., 226

and economics

Blackett, Basil, 147, 151, 178

Business fluctuations, 4–8, 35, 61,

Bliven, Bruce, 251

64, 72

Bockus, C.E., 284

Butler, Nicholas Murray, 175,

278–79

Boden–Kredit Anstalt, 257

Butterworth, William, 210–11

Böhm-Bawerk, Eugen von, 11, 37

Byrd, Richard E., 290

Bonbright, James C., 265

Booms, See Inflation

Borchard, Edwin W., 292

California, 236, 244, 247, 250, 266,

Boulder Dam, See Dams

283

Bradley, Phillips, 265

Canada, 226, 242, 248, 295

352

America’s Great Depression

Capital goods, 9–14, 16, 18, 29–31,

Chicago Board of Trade, 231

37, 46, 56–57, 59–61, 63–64,

Child labor, 189

67–68, 71–72, 79–80, 171,

Christensen, Alice M., 218

248, 261, 315, 331, 336

Citizens’ Reconstruction

Capper–Haugen Bill, 226

Organization, 306

Capper–McFadden Bill, 221

Clark, Grenville, 290

Capper–Williams Bill of 1924, 227

Clark, John Bates, 251, 311

Capper–Volstead Cooperative

Clark, John Maurice, 217, 251, 293,

Marketing Act of 1922, 221

313

Carnegie Corporation, 195

Clark, Lawrence E., 123–24, 128,

Cartels, See Socialism

132, 144–45, 155–56,

Carter, Edward C., 251

158–59, 260, 326

Carter, Edward W., 319

Clark, Victor S., 251

Carver, Thomas Nixon, 265, 294,

Clay, Henry, 145, 148, 179

313

Clemence, Richard V., 74

Cassady, Ralph, Jr., 251

Coit, Margaret, 280

Cassel, Gustav, 177, 179–80, 314

Colcord, Joanna C., 251, 311

Catchings, Waddill, 60, 180,

Collective bargaining, 189, 201

198–99, 251

Collectivism, See Socialism

Central banking, See Federal

Commerce, Department of, 140–41,

Reserve System

190, 195, 197, 207, 217,

Central Republic Bank and Trust

341–45

Company, 297

Commons, John R., 172–75, 179,

Chadbourne, Thomas L., 194

180, 194, 251, 266, 311, 313

Chafee, Zechariah, Jr., 251

Communism and Communists, 201,

Chamber of Commerce, See

330

International Chamber of

Compensated dollar, 177, 310

Commerce; United States

Compton, Karl T., 278

Chamber of Commerce

Comstock, William, 326, 328

Chamberlain, Joseph P., 197, 251

Construction, See Public works

Chandler, Lester Vernon, 128, 135,

Construction League of America, 294

144–46, 148, 151–52, 157,

Consumer credit, See Credit

161, 171

Consumption, 5, 9–12, 18, 20, 22,

Chapin, Roy D., 297

30, 38–39, 41, 45, 51–52, 57,

Chapman, John M., 167, 295

61–63, 66–68, 70, 80, 185,

Chase National Bank, 76, 174, 249,

248–49, 253, 268, 277, 315

274, 317

Cooke, Morris L., 197, 251, 292

Chase, Stuart, 252, 278, 294, 312

Coolidge, Calvin, 121, 142, 153,

Chemical industry, 171

156, 163, 175, 197, 225–26,

Chicago Association of Commerce,

272, 290, 322

176

Cooper, Kent, 330

Index

353

Copeland, Morris A., 251, 311

Cuba, 132

Copper, 132

Cumberland, W.W., 315

Cord, E.L., 309

Currency, See Money

Corn, 223

Currie, Lauchlin, 98, 303, 305

Corn Belt Committee, 233

Cycles, See Business cycles

Costigan, Edward P., 300

Czechoslovakia, 175

Costs, See Prices

Cotton, 132, 222–23, 225, 227, 231,

242, 247, 300

Dairy industry, 234

Cotton Stabilization Corporation,

Dakin, E.F., 6

232

Coughlin, Charles E., 311

Dams

Couzens, James, 197

Boulder Dam, 247, 295

Cowden, J. Cheever, 294

Grand Coulee Dam, 247

Cowley, Malcolm, 251

Hoover Dam, 239, 247

Cowling, Donald, 251

Daugherty, Harry M., 204

Cox, Garfield V., 313

Davies, George R., 333

Coyle, David Cushman, 292, 294

Davis, Jerome, 251

Credit

Davis, John W., 175, 273

contraction and expansion of,

Davison, Henry, 128

4, 9, 11, 12–19, 21–25,

Dawes, Charles G., 175, 297, 299,

29–35, 57, 67–68, 72, 76, 85,

306

93, 130, 139, 146–47,

Dawes Plan, 131

150–51, 153–56, 158–59,

Deflation, 14–17, 19, 21, 34, 56, 75,

162, 169–71, 214, 263, 265,

115–16, 151, 181, 261,

269, 274, 307–08, 313–15,

303–04, 315, 326, 329

329

Defrees, Joseph H., 194–95

installment, 79

Delaware, 327

see also
Federal Reserve System;

Foreign loans; Inflation;

Demand, See Money; Speculative

Reconstruction Finance

demand

Corporation

Demand deposits, See Banking

Credit theories, qualitative, 75–80,

Democratic Party, 197

123, 162, 164–65

Denman, C.B., 228

Creditors, See Bankruptcy

Denmark, 248

Crissinaer, Daniel R., 145

Dennison, Henry S., 279

Croly, Herbert, 189

Depression

Crosby, Oscar T., 145

characteristics of, 6, 8, 12,

Croxton, Fred C., 197, 247, 264,

14–16, 30, 35, 44, 50–51,

272–73, 276, 301

57, 61, 169, 334, 337

354

America’s Great Depression

government policy during, 19,

Durant, William C., 163

21–22, 38, 116, 120, 124,

Eastman, George, 174

163, 167, 253, 263, 304–05,

Eaton, Howard O., 311–12

310, 322–23, 336

Ebersole, J. Franklin, 299

prevention of, 23, 27

Edgerton, John, 266, 273

stock market crash, 161–63,

209, 215, 249

Edgeworth, Francis Y., 174

see also
Business cycles; Hoover,

Edie, Lionel D., 176, 311, 315

Herbert C.

Edison, Thomas, 176

Depression of 1819, 186

Egypt, 242

Depression of 1873–79, 210

Einzig, Paul, 179

Depression of 1893, 192

Eldridge, Seba, 251

Depression of 1920–21, 186, 189,

Ely, Richard T., 220, 252, 292

191, 195, 205, 214, 249, 333

Emergency Relief and Construction

Dewey, Davis F., 251

Act of 1932, 299–300

Dewey, Edward R., 6

Emery, James A., 250

Dewing, Arthur Stone, 299

Employment, See Unemployment

Dice, Charles A., 181

Employment Stabilization Act, See

Dickinson, Z.C., 293

Wagner Act

Dickstein, Samuel, 164, 319

Entrepreneurs, See Business cycles

Direct relief, 271–72, 300

Epstein, Ralph C., 292

Director, Aaron, 313

Ernst, Morris L., 197

Discount rate, See Federal Reserve

Europe, 126, 130, 138–39, 144,

System; Interest

147–48, 158–59, 161, 176,

Discounted bills, See Federal

243, 257–59, 262

Reserve System

Evans, Frank, 228

Divine, Robert A., 243, 270, 320

Exports, See Agriculture

Donham, Wallace B., 279

Doody, Francis S., 74

Dorfman, Joseph, 180, 188, 193,

199, 220, 227, 252, 263, 270,

Fabricant, Solomon, 343–44

279–80, 294, 306, 311–12

Fairchild, Fred Rogers, 270

Douglas, Dorothy W., 252

Fairchild, Henry Pratt, 251

Douglas, Paul H., 197, 251, 265–66,

Farms, See Agriculture

292, 294, 312, 313

Farrell, James A., 270

Due, John F., 340

Fascism, See Socialism

Duggan, Stephen P., 251

Federal Advisory Council, 128

DuPont, Pierre, 211, 273

Federal Farm Board, 227–29, 231,

Durable goods, See Capital goods

233–35, 248

Durant, Will, 279

Federal Farm Loan Act, 218

Index

355

Federal Farm Loan System, 218

repurchase agreements, 132

Federal government, See

reserves, See Banking, reserves

Government

Federal Trade Commission, 207,

Federal Home Loan Bank System,

218–20

276, 285, 299, 317–18, 321

Federated American Engineering

Federal Intermediate Credit System,

Societies, 196

220

Feis, Herbert, 197

Federal Labor Reserve Board, 193

Fels, S., 197

Federal Reserve Act, 100, 104, 129

Ferguson, John M., 251

Federal Reserve Bank of Chicago,

Fess, Simeon D., 330

156

Fetter, Frank Albert, 10, 32, 251,

Federal Reserve Bank of Kansas

312

City, 156

Federal Reserve Bank of New York,

Fetter, Frank Whitson, 140, 312

See New York Federal

Filene, Edward, 90, 251

Reserve Bank

Fisher, Irving, 164, 173–74, 176–78,

Federal Reserve System, 25–26,

180–81, 194, 251, 292,

28–29, 94, 96, 100–03, 105,

308–10, 312–14, 325

107–08, 113, 115, 117, 120–

Fite, Gilbert N., 235

23, 130, 132, 134–35, 152,

Flanders, Ralph E., 279

154, 156, 159, 167, 172, 177,

Flour, 132

180, 214, 220, 239, 245, 248,

Fluctuations, See Business fluctua-

250, 260, 302–04, 308–09

tions

acceptances, 104, 126–29, 132,

Flynn, John T., 297–98

137, 160–61, 165–66, 215,

Ford, Henry, 176, 210, 212, 270,

240, 262

272, 326

bills discounted, 104–05,

107–08, 111–15, 117, 137,

Fordney–McCumber Tariff, 139–40

262, 324

Foreign acceptances, 126–27,

call loan rates, 124, 133, 159,

129–30, 133, 165, 260

240

Foreign loans

foreign relations, See Foreign

by U.S. government, 139, 142

acceptances; New York

U.S. government control over,

Federal Reserve Bank

130–32, 138, 140–42, 147,

government securities, See

152, 158–59, 188, 241, 257,

Government securities

260

loans to banks, 25, 113

Foreign Trade Financial

Open-Market Committee and

Corporation, 191

open-market operations,

Foster, William Trufant, 175,

26, 104, 107, 133–34,

179–80, 198–99, 214,

137–38, 156, 160, 171, 302,

265–66, 291–92, 294

306, 313

Foster, William Z., 201

356

America’s Great Depression

Fractional-reserve banking, See

Glass–Steagall Act, 296, 301,

Banking, fractional–reserve

306–07, 313

banking

Gold, gold exchange standard, gold

France,
see also
Bank of France, 259

standard, 15, 17, 19, 21,

France, Royal W., 278

25–27, 34–35, 87, 91, 94–95,

Frankfurter, Felix, 252, 292

103, 107–08, 111–12, 138,

Frazier, Frederic H., 309

142, 145, 150–55, 158, 161,

Frederick, J. George, 278

165, 176–78, 181, 215, 240,

258–59, 261–62, 274, 293,

French, D.R., 88

302–06, 309, 314–15,

Frey, John P., 198, 266

322–24, 326, 328–30

Friday, David, 175, 313

Goldsborough, Phillips L., 297

Friedman, David A., 177

Goldsborough, T. Alan, 177,

Friedman, Elisha M., 251

309–10

Friedman, Milton, 90

Gompers, Samuel, 174, 194, 225

Friedrich, A. Anton, 251

Goodrich, Carter, 251

Fusfeld, Daniel R., 195, 272, 279

Government, Federal, control over

Fuss, Henri, 179

business and industry

depression policy,
see also

Hoover, Herbert C., 45

Gage, Lyman J., 174

expenditures and spending by,

Gardner, Henry B., 293

20, 22, 24, 106, 185, 253,

Garrett, Garet, 131

255–56, 263, 288–89, 291,

Gary, Elbert H., 200–03

315, 339–41, 343–45