Lords of Finance: 1929, the Great Depression, and the Bankers Who Broke the World (81 page)

Read Lords of Finance: 1929, the Great Depression, and the Bankers Who Broke the World Online

Authors: Liaquat Ahamed

Tags: #Economic History, #Economics, #Banks & Banking, #Business & Investing, #Industries & Professions

BOOK: Lords of Finance: 1929, the Great Depression, and the Bankers Who Broke the World
9.37Mb size Format: txt, pdf, ePub

773
"he has not the faintest conception": Keynes, Letter to Wilfrid Eady, October 3, 1943, in
Collected Writings
, Vol. XXV, pp. 352-57.

774
"The flow of alcohol is appalling": Cassidy, John. "The New World Disorder,"
New Yorker
, October 26, 1998, p 198.

775
"madhouse with most people": Skidelsky,
John Maynard Keynes: Fighting for Britain
, p. 347.

776
"If we can so continue": Skidelsky,
John Maynard Keynes: Fighting for Britain
, p 355.

23: EPILOGUE

777
I have yet to see any problem: Poul Anderson quote from
The Yale Book of Quotations
, 19.

778
"his policies died with him": U.S. House of Representatives,
Banking Act of 1935
, Committee on Banking and Currency, 74 Congress, Ist Sess. 1935.

779
"problems of life": Keynes, "Preface" in
Collected Writings: Essays in Persuasion
. 9: xviii.

780
"trustees, not of civilization": Harrod,
The Life of John Maynard Keynes
, 193–94.

BIBLIOGRAPHY

The bibliography includes not only works referred to in the text but also a selected list of books and articles on the economic history of the period that I have found useful in my research. The interpretation of the causes of the Great Depression set out here is eclectic. Nevertheless, my thinking has been framed by four books in particular: the classic by Milton Friedman and Anna Schwartz,
A Monetary History of the United States 1857–1960,
which highlights the dysfunctional policies and decision making at the Fed; the 1973 book by Charles Kindelberger,
The World in Depression
, one of the early contemporary books to focus on the global dimension of the economic collapse; and the works of Peter Temin and Barry Eichengreen, especially Temin’s
Lessons from the Great Depression
and Eichengreen’s
Golden Fetters,
which identify the gold standard as the chief culprit for transmitting depression around the world.

A
CAMPORA
, R
ALPH
.
The Fourth Mega-Market.
New York: Hyperion, 2000.

A
DAM
, H. P
EARL
.
Paris Sees It Through: A Diary 1914–1919
. London: Hodder and Stoughton, 1919.

A
DAMTHWAITE
, A
NTHONY
.
Grandeur and Misery
. London: Arnold, 1995.

A
GUADO
, I
AGO
G
IL
. “The Creditanstalt Crisis of 1931 and the Failure of the Austro-German Customs Union Project.”
The Historical Journal
44 (2001): 199–221.

A
LDCROFT
, D
EREK
H.
From Versailles to Wall Street
. Berkeley: University of California, 1977.

— “Currency Stabilization in the 1920s: Success or Failure?”
Economic Issues
7 (2002): 83–102.

A
LLEN
, F
REDERICK
L.
Only Yesterday: An Informal History of the Nineteen-Twenties
. New York: Harper and Row, 1931.


The Lords of Creation
. New York: Harper and Brothers, 1935.

A
LLEN
, R
OBERT
S.
Washington Merry-Go-Round.
New York: Horace Liveright. 1931.

A
MERY
, L
EO
.
The Leo Amery Diaries, Volume 1: 1896–1929.
Edited by John Barnes and David Nicholson. London: Hutchinson, 1980.

A
NGELL
, N
ORMAN
.
The Great Illusion
. New York: G. P. Putnam, 1912.

A
NONYMOUS
.
High Low Washington.
Philadelphia: J. B. Lipincott, 1932.

A
SQUITH
, H. H.
Letters to Venetia Stanley
. Edited by Michael Brock and Eleanor Brock. Oxford: Oxford University Press, 1982.

A
ULD
, G
EORGE
P..
The Dawes Plan and the New Economics
. Garden City, NJ: Doubleday, 1927.

B
ACEVICH
, A
NDREW
J. “Family Matters: American Civilian and Military Elites in the Progressive Era.”
Armed Forces and Society
8 (1982): 405–418.

B
AGEHOT
, W
ALTER
.
The Collected Works of Walter Bagehot. Volume 1: Literary Essays
. Edited by Norman St. John-Stevas. London: The Economist, 1978.


The Collected Works of Walter Bagehot. Volume 9: Lombard Street
. Edited by Norman St. John-Stevas, London: The Economist, 1978.

B
ALDERSTON
, T
HEO
. “The beginnings of the depression in Germany: investment and the capital market.”
Economic History Review
36 (1983): 395–415.

— “War Finance and Inflation in Britain and Germany, 1914-1918.”
Economic History Review
42 (1989): 222-244.


The Origins and Course of the German Economic Crisis: November 1923 to May 1932
. Berlin: Halder and Spener, 1993.


Economics and Politics in the Weimar Republic
. Cambridge: Cambridge University Press, 2002.

B
ANQUE DE
F
RANCE
.
Le Patrimonie de la Banque de France
. Paris: Flohic Édition, 2001.


Treasures of the Banque de France.
Paris: Éditions Hervas, 1993.

B
ARTLETT
, J
OHN
,
Bartlett’s Familiar Quotations.
Edited by Justin Kaplan. New York: Little Brown, 2002.

B
ARUCH
, B
ERNARD
.
The Public Years: My Own Story
. New York: Holt, Reinhart and Winston, 1960.

B
ELL
, C
LIVE
.
Old Friends: Personal Recollections
. New York: Harcourt Brace, 1957.

B
ELL
, E
LLIOTT
V. “Crash: An Account of the Stock Market Crash of 1929,” in
We Saw It Happen: The News Behind the News That’s Fit to Print
. New York: Simon and Schuster, 1938.

B
ENNETT
, E
DWARD
W.
Germany and The Diplomacy of the Financial Crisis: 1931
. Cambridge, MA.: Harvard University Press, 1962.

B
ERENSON
, E
DWARD
.
The Trial of Madame Caillaux
. Berkeley: University of California, 1992.

B
ERGMAN
, C
ARL
.
The History of Reparations
. New York: Houghton Mifflin, 1927.

B
ERNANKE
, B
EN
S. “The World on a Cross of Gold.”
Journal of Monetary Economics
31 (1993): 251-267.


Essays on the Great Depression
. Princeton, New Jersey: Princeton University Press, 2000.

B
ERNSTEIN
, P
ETER
L..
The Power of Gold: The History of an Obsession
. New York: John Wiley and Sons, 2000.

B
IERMAN
, H
AROLD
.
The Great Myths of 1929 and the Lessons to Be Learned
. Westport, Connecticut: Glenwood Press, 1991.


The Causes of the 1929 Stock Market Crash
. Westport, Connecticut: Glenwood Press, 1998.

B
INION
, R
UDOLPH
.
Defeated Leaders: The Political Fate of Caillaux, Jouvenel, and Tardieu
. New York: Columbia University Press, 1960.

B
LAINEY
, G
EOFFREY
.
The Causes of War
. New York: The Free Press, 1988.

B
LAKE
, R
OBERT
.
The Unknown Prime Minister: The Life and Times of Andrew Bonar Law, 1858-1923.
London: Eyre and Spottiswoode, 1955.

B
ONN
, M
ORITZ
J.
Wandering Scholar
. New York: The John Day Co., 1948.

B
ONNET
, G
EORGE
.
Vingt Ans de Vie Politique 1918-1938: de Clemenceau à Daladier.
Paris: Fayard, 1969.

B
OOTHBY
, R
OBERT
.
Recollections of a Rebel
. London: Hutchinson and Co., 1978.

B
ORDO
, M
ICHAEL
D. , E
HSAN
U. C
HOUDHRI
, and A
NNA
J. S
CHWARTZ
: “Was Expansionary Monetary Policy Feasible During the Great Contraction? An Examination of the Gold Standard Constraint.”
Explorations in Economic History,
39 (2002): 1–28.

B
OYCE
, R
OBERT
W.
British Capitalism at the Crossroads 1919-1932
. Cambridge: Cambridge University Press, 1987.

B
OYLE
, A
NDREW
.
Montagu Norman
. London: Cassell, 1967.

B
RAUN
, O
TTO
.
Von Weimar zu Hitler
. New York: Europa Verlag, 1940.

B
RENDON
, P
IERS
.
Eminent Edwardians.
London: Seeker and Warburg, 1979.


The Dark Valley
. London: Jonathan Cape, 2000.

B
ROGAN
, D. W.
France Under the Republic
. New York: Harper and Brothers, 1940.

B
ROOKS
, J
OHN
.
Once in Golconda
. New York: John Wiley and Sons, 1999.

B
RYAN
, W
ILLIAM
J.
The First Battle: A Story of the Campaign of 1896
. Chicago: W. B. Conkey Company, 1896.

C
ALMORIS
, C
HARLES
W. “Financial Factors in the Great Depression.”
The Journal of Economic Per spectives, 7
(1993): 61–85.

C
ANNADINE
, D
AVID
.
Aspects of Aristocracy
. New Haven: Yale University Press, 1994.


The Decline and Fall of the British Aristocracy
. New York: Vintage Books, 1999.


Mellon: An American Life
. New York: Alfred A Knopf, 2006.

C
ASSEL
, G
USTAV
.
The Downfall of the Gold Standard
. Oxford: Clarendon Press, 1936.

C
ECCO
, M
ARCELLO DE
.
The International Gold Standard: Money and Empire
. 1984.

C
ECCCHETTI
, S
TEPHEN
G. “Understanding The Great Deflation: Lessons for Current Policy.” In
The Economics of the Great Depression
. Edited by Mark Wheeler. Michigan: W.P. Upjohn Institute, 1998.

C
HANDLER
, L
ESTER
V.
Benjamin Strong: Central Banker
. Washington D.C.: The Brookings Institution, 1958.


American Monetary Policy: 1928–1941.
New York: Harper and Row, 1971.

C
HAPMAN
, G
UY
.
The Dreyfus Trials
. New York: Stein and Day, 1972.

C
HERNOW
, R
ON
.
The House of Morgan
. New York: Atlantic Monthly Press, 1990.


The Warburgs
. New York: Random House, 1993.

C
HOUDHRI
, E
HSAN
U., and L
EVIS
A. K
OCHIN
. “The Exchange Rate and the International Transmission of Business Cycle Disturbances: Some Evidence from the Great Depression.”
Journal of Money, Credit and Banking,
12 (1980): 565-574.

C
HURCHILL
, W
INSTON
.
Lord Randolph Churchill
. London: Macmillan and Co., 1906.


Winston S. Churchill, His Complete Speeches, 1897–1963
. Edited by Robert Rhodes James. London: Chelsea House, 1974.

C
LAPHAM
, J
OHN
.
The Bank of England: A History
. Cambridge: Cambridge University Press, 1970.

C
LARKE
, M. E.
Paris Waits
. London: Smith Elder and Co, 1915.

C
LARKE
, S
TEPHEN
V.
Central Bank Cooperation
. New York: Federal Reserve Bank of New York, 1967.


The Reconstruction of the International Monetary System: The Attempts of 1922 and 1933
. Princeton, New Jersey: Princeton University Press, 1973.

C
LAY
, H
ENRY
.
Lord Norman
. London: Macmillan and Co., 1957.

C
OCKBURN
, C
LAUD
.
A Discord of Trumpets
. New York: Simon and Schuster, 1956.


In Time of Trouble
. New York: Simon and Schuster, 1956

C
OLLIER
, P
RICE
.
Germany and the Germans
. New York: Charles Scribner’s Sons, 1913.

C
OWLEY
, M
ALCOLM
.
Exile’s Return.
New York: Norton. 1934.

C
RONIN
, V
INCENT
.
Paris on the Eve: 1900-1914
. London: William Collins, 1989.

D
’A
BERNON
, V
ISCOUNT
.
The Diary of an Ambassador
. New York: Doubleday, Doran and Company, 1931.

D
AWES
, C
HARLES
.
A Journal of Reparations
. London: Macmillan and Co., 1939.

D
AWES
, R
UFUS
.
The Dawes Plan in the Making
. Indianapolis: Bobbs-Merrill Company, 1927.

D
ISRAELI
, B
ENJAMIN
.
Contarini Fleming: A Psychological Romance.
London: M. Wally-Dinner, 1904.

Other books

Realm 06 - A Touch of Love by Regina Jeffers
Finished by Hand by William Anthony
Spellbinder by Lisa J. Smith
All of me by S Michaels
La mujer del faro by Ann Rosman
Final Approach by John J. Nance
Poetic Justice by Alicia Rasley
A Bear's Baby by Vanessa Devereaux
The Artist's Way by Julia Cameron