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Forty Years of American Finance

Resumption Of Specie Payments
Resumption Of Specie Payments The Danger To The Treasury's Redemption Fund Lay, As Every One Understood, In Possible Gold Exports. As It Happened, There Was No Gold Move Ment In Progress At The Time Of Specie Resumption; But Foreign Exchange Was Only A Trifle Below The Normal Gold-exporting Point, And ...

Social And Political Results
Social And Political Results The Events Which I Have Narrated In The Two Pre. Ceding Chapters Were Of A Character To Influence Profoundly Social And Political Conditions, And No Review Of The Period Would Be At All Adequate Which Did Not Make Careful Account Of Developments In Such Directions. The ...

The Bond Syndicate Operation
The Bond-syndicate Operation The Action Taken By The Administration, In The Treasury Crisis Of 1895, Involved One Of The Most Remarkable Experiments In The History Of Finance. It Was The Treasury's Double Problem Now To Restore The Gold Reserve And To Prevent The Im Mediate Withdrawal Of The Specie Thus ...

The Expulsion Of Gold
The Expulsion Of Gold So Far As The Silver-purchase Act Was Designed To Help The Silver Market—and This We Have Seen To Be Its Almost Single Purpose—it Was An Early And Complete Failure. Mr. Windom's Report And The Subsequent Congressional Moves Were Immediately Reflected, It Is True, By A Violent ...

The Government Loans And
The Government Loans And The Tariff Of 1894. Secretary Carlisle Was Undoubtedly Em Barrassed By The Relations Of Himself And His Party To The Resumption Act. He Had Voted Against The Law In 1875, And In So Voting He Had Acted With Every Member Of His Party Then In Con ...

The Industrial Boom
The " Industrial Boom" Our Narrative Is Now About To Enter Upon A Very Remarkable Chapter In American Finance. It Is A Chapter Which, So Far As Regards Its General Ten Dencies, May Possibly Be Said Merely To Have Repeated History; But Which, When Judged By The Dramatic Change In ...

The Inflation Period
The Inflation Period A Glance Over The Financial History Of The United States, From The Close Of The Civil War To The Panic Of 19o7, Will Detect Three Separate Periods. The First, Which Began In The Currency Depreciation Era Of The Sixties, Ended With Specie Resumption In 1879. The Second ...

The Panic Of
The Panic Of 1893 We Left The Treasury, In Our Last Chapter, Con Fronted For The First Time In Its History With A Heavy Drain On Its Gold Reserve To Redeem Out Standing Notes. During The Nine Months After The Beginning Of This Movement, Secretary Foster Was Engaged In A ...

The Panic Of_2
The Panic Of 1907 We Have Seen What Warnings Were Finding Utter Ance During 1906, Both In The Comments Of Experienced Critics And In The Action Of The Money Markets, As To A Possible Approaching Crisis. The Powerful Capitalists Who Were Conducting The Ameri Can Speculation Of The Day Paid ...

The Silver Problem
The Silver Problem Although President Hayes And His Secretary Of The Treasury Differed Radically In Their Opinion Of The Legal Tenders, They Were Agreed, At The Close Of The Administration, In Their Judgment Regarding Compulsory Coinage Of Silver Dollars. This Was The More Noteworthy, In View Of Mr. Sherman's Expressed ...

The Speculative Mania Of
The Speculative Mania Of 1901 The Situation In Which The American Community Found Itself, In 1901, Was One Which Arises At Intervals In All Prosperous Modern States; But Its Char Acteristics Were Emphasized, On This Occasion, By The Unusual Incidents Of The Period. Such A Situation Has Invariably, On All ...

The Struggle For Resumption
The Struggle For Resumption The Resumption Act Is One Of The Most Curious Laws In Financial History. It Was Plain In Its Requirement That On And After January I, 1879, The Treasury Should " Redeem In Coin The United States Legal-tender Notes Then Outstanding, On Their Pre Sentation For Redemption ...

The Surplus Revenue
The Surplus Revenue Almost The First Act Of The Cleveland Adminis Tration, In Its Management Of The Treasury, Suggested That Government Finances Were In Imme Diate And Serious Straits. Its Surplus Gold Reserve, By Midsummer, 1885, Was Down To $115,000,000— Hardly More Than Was Held At The Resumption Of Specie ...

The Two Laws Of
The Two Laws Of 1890 Unusual As The Problem Of Excessive Public Revenue Was In The Experience Of Modern Gov Ernments, It Was Not Wholly New To The United States. Almost Exactly Half A Century Before, A Similar Dilemma Had Arisen Whose Results, Had They Been Kept In Mind, Might ...

World Wide Rise In Prices
World-wide Rise In Prices It Is Not Always Easy To Classify A Year Such As 1903, And To Assign Its Proper Place In Economic History. That It Was Merely An Interlude In The Cycle Of Prosperity, Was Proved By Subsequent Events. Wall Street—including Both The Every-day Speculator And What Is ...