Despite the political potency of money and banking issues, historians have largely dismissed the Progressive Era political debate over banking as irrelevant and have been preoccupied with explaining the shortcomings, limitations and inadequacies of the Federal Reserve Act. The picture that has emerged is one of bankers controlling the course of financial reform with the assistance of political leaders who were either subservient, hopelessly naive or insincere in their public opposition to bankers. This book places their exertions in a larger, unfolding political context and traces in an analytical narrative the interplay of sectional and economic interests, political ideologies and partisan clashes that shaped the course of banking reform.
Table of Contents
Preface. 1. Money, Banks and Politics During the Nineteenth Century 2. The Republicans and the Gold Standard Act of 1900 3. Republican Financial Deadlock, 1901-1904. 4. Prelude to Panic, 1905 – 1907 5. Panic and Reaction, 1907-1910 6. Wall Street Consolation, 1911. 7. Toward Self-Regulation, 1911. 8. The Aldrich Plan, 1911. 9. The Counteroffensive, 1912-1913. 10. Conclusion: The Democrats’ Ambiguous Financial Legacy. Bibliography. Index.