Money and Capital Markets in Postbellum America (eBook)

John A. James (Autor)

eBook Download: PDF

2015 | 1. Auflage
310 Seiten
Princeton University Press (Verlag)
978-1-4008-6962-6 (ISBN)

Infos

Postbellum economic change in the United States required an efficient system by which capital could be transferred to areas where it was relatively scarce. In assessing the structure that evolved to meet this need, John James provides a new and convincing explanation of the forces underlying the integration of separate and local money markets to form a national market. To understand the role of financial markets during the period, the author examines the institutions and operations of the banking system in detail. In contrast to the now-prevailing view among scholars, Professor James finds that the banking system was quite adaptable in responding to institutional constraints, and he focuses in particular on the role of the correspondent banking system. The second part of his book assesses the performance of the market and the forces promoting change during the period. Drawing on a new and more carefully derived set of interest rates, the author tests competing hypotheses to explain integration and advances a more satisfactory alternative theory. He offers the first modern analysis of American financial institutions of the period between the Civil War and the establishment of the Federal Reserve System. In so doing, he adds to our knowledge of the historic role of finance and capital in economic development.Originally published in 1978.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Produkt-Details

• Erscheint lt. Verlag: 8.3.2015
• Reihe/Serie: Princeton Legacy Library
• Reihe/Serie: Princeton Legacy Library
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• Schlagworte: accounting rate of return • American Bankers Association • A Monetary History of the United States • balance of trade • Bank • Bank Capital • Banking in the United States • Bank of New York • Bank Rate • Bank regulation • bank run • Bond (finance) • Bond Market • Brokerage firm • Call Loan Rate • capital expenditure • Capitalism • Capital Market • Capital outflow • Capital requirement • Cash Flow • Central Bank • citibank • City Bank • Commercial Bank • commercial credit • Commercial National Bank • Commercial Paper • Commission on Money and Credit • comptroller • Cost Of Funds • credit analyst • Credit (finance) • credit risk • Currency • Current Price • Diversification (finance) • Earnings • Economic Growth • Economic History • Economic history of the United States • Economics • european central bank • Exchange Rate • Federal Reserve Bank • Finance • Financial Account • Financial Distress • Financial institution • Financial Intermediary • Financial transaction • foreclosure • Government bond • High-yield debt • Income elasticity of demand • income statement • Interest Rate • Interest rate ceiling • Interstate Banking • Investment • investment policy • Investor • Legal Rate Of Interest • Long-Term Capital Management • Margin (finance) • market liquidity • Market power • Market rate • Measures of national income and output • Milton Friedman • Modern Portfolio Theory • monetary policy • monetary system • money market • Money trust • National Bank • National Bank Act • National Bank Note • National Bureau of Economic Research • Net capital outflow • New York Clearing House • New York State Banking Department • Nominal interest rate • Over-the-counter (finance) • Panic of 1857 • Paper Dealer • Profit (economics) • Rates (tax) • Real bills doctrine • Real estate appraisal • Real interest rate • Real versus nominal value (economics) • Rediscount • Reserve City Bank • Second Bank of the United States • State bank • Supply (economics) • Tax • Tax Rate • usury
• ISBN-10: 1-4008-6962-5 / 1400869625
• ISBN-13: 978-1-4008-6962-6 / 9781400869626