The Chicago Plan & New Deal Banking Reform
This is the first comprehensive history and evaluation of the role of the 100% reserve plan in the banking legislation of the New Deal. The idea of 100% reserves is as relevant to banking reform in the 1990s as it was in the 1930s. It continues to engage the interest of great American economists today--Milton Friedman, Hyman Minsky, and James Tobin--as it did over half a century ago. Those who want to understand today's problems of banking instability and reform will find this book required reading: undergraduate and graduate students, and teachers in business, economics, banking studies, public policy and law.
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100 percent reserve administration advocated Angell argued bank notes bankers Banking Act banking legislation banking reform banking system Berle branch banking capital Carter Glass central bank checkable deposits Chicago economists Chicago plan circulating commercial banks Congress created creation currency Cutting debates demand deposits deposit banking depositors depression Eccles economic federal deposit insurance Federal Reserve Act Federal Reserve Banks Federal Reserve Board Federal Reserve notes Federal Reserve System financial system Friedman and Schwartz functions gold government debt government securities Henry Simons Hoover increase inflation investment Irving Fisher issue Lauchlin Currie lending liabilities loans March member banks memorandum ment Minsky Moley monetary policy monetary reform money and credit money supply Morgenthau national banks Olson open market operations percent reserve plan percent reserve proposal percent reserve system political private banks problem real bills doctrine reserve requirements role Roosevelt Senate Simons Papers Soddy tion Treasury Viner Whittlesey wrote