When Washington Shut Down Wall Street
The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy
in:
U.S. History
Summary:
The book recounts the financial crisis of 1914 triggered by the outbreak of World War I, detailing how Treasury Secretary William McAdoo closed the New York Stock Exchange to prevent a liquidity crisis and safeguard American gold reserves. It also explores the establishment of the Federal Reserve and the United States' rise to financial supremacy through the innovative and decisive actions taken during this period.
Key points:
1. The book discusses the gold standard's role in the early 1900s and how the U.S. avoided a gold crisis during WWI by stopping gold outflows, under Treasury Secretary McAdoo's leadership.
Books similar to "When Washington Shut Down Wall Street":
Lords of Finance
Liaquat Ahamed
Money
Steve Forbes|Elizabeth Ames
Trillion Dollar Triage
Nick Timiraos
End the Fed
Ron Paul
Hall of Mirrors
Barry Eichengreen
The New Case for Gold
James Rickards
Fed Up
Danielle DiMartino Booth
The Dollar Crisis
Richard Duncan
Guide To Investing in Gold & Silver
Michael Maloney
The Great Contraction, 1929-1933
Milton Friedman|Anna Jacobson Schwartz