We continue our deep dive into Murray Rothbard’s classic text on the Great Depression!
Today, we’re looking at the second half of Chapter Four, which examines four different sources of inflation that the Federal Reserve controlled and exacerbated in the period between 1921-1929.
Show notes can be found here.
This video is available on Odysee, BitChute, and YouTube!
References:
My post “Beware the Bully Pulpit!”
https://marginalnonhermit.com/?p=232
Two Explanations of Acceptances:
https://www.wallstreetmojo.com/bankers-acceptance/
https://www.investopedia.com/terms/a/acceptance-market.asp
Kemmerer, “The ABC of the Federal Reserve System”:
https://fraser.stlouisfed.org/files/docs/publications/books/abcfrs_kemmerer_1922.pdf
Willis’s Manuscript for “Report of an Inquiry into Contemporary Banking in the United States” is impossible to find, but a copy was donated to Columbia U:
http://www.columbia.edu/cu/libraries/inside/projects/findingaids/scans/pdfs/48_WIEN-WIT_13.pdf
Willis et al., “Federal Reserve Banking Practice”:
https://books.google.com/books?hl=en&lr=&id=N7eEAAAAIAAJ&oi=fnd&pg=PR5&dq=henry+parker+willis+conclusions&ots=idu36YEenS&sig=stRjzfExjiXMENYnxYOXNE6V6tA#v=onepage&q&f=false
Harris, “Twenty Years of Federal Reserve Policy”:
https://archive.org/details/twentyyearsoffed0000seym/page/n7/mode/2up
The Annalist (I couldn’t find the Sprague article “Immediate Advances…” anywhere):
https://archive.org/details/pub_annalist-a-magazine-of-finance-commerce-and-economics
Phillips, et al., “Banking and the Business Cycle”
https://mises.org/library/book/banking-and-business-cycle
Banker’s Magazine Archive (See p. 13 for Willis’s article):
https://books.google.com/books?id=ZVsmAQAAIAAJ&printsec=frontcover#v=onepage&q&f=false
Two Willis articles in The Annalist (footnote 24):
https://archive.org/details/sim_annalist-a-magazine-of-finance-commerce-and-economic_1924-11-24_24_619/page/540/mode/2up
Saloutos, “Agricultural Discontent in the Middle West, 1900-1939”:
https://archive.org/details/agriculturaldisc00salorich
Anderson, “Economics and the Public Welfare”:
https://archive.org/details/economicspublicw0000ande/page/n3/mode/2up
Hardy, “Credit Policies of the Federal Reserve System”:
https://mises.org/library/book/credit-policies-federal-reserve-system
Clark, “Central Banking under the Federal Reserve System”
https://fraser.stlouisfed.org/title/central-banking-federal-reserve-system-314
Miller, “Responsibility for Federal Reserve Policies, 1927-1929”:
https://fraser.stlouisfed.org/title/american-economic-review-1161/responsibility-federal-reserve-policies-1927-1929-2353
Robey, “Capeadores in Wall Street”:
https://cdn.theatlantic.com/media/archives/1928/09/142-3/132464434.pdf
Warburg, “The Federal Reserve System (volume 2)”:
https://fraser.stlouisfed.org/files/docs/publications/books/frsorigin1930/frsorigin_warburg_1930v2.pdf
Warburg in the Commercial and Financial Chronicle:
https://fraser.stlouisfed.org/title/commercial-financial-chronicle-1339/march-9-1929-517038
Chandler, “Benjamin Strong, Central Banker”
https://archive.org/details/benjaminstrongce0000chan
Baster, “The International Acceptance Market”:
https://www.jstor.org/stable/195
Garrett, “The Bubble that Broke the World”:
https://mises.org/library/book/bubble-broke-world
Robbins, “The Great Depression”:
https://mises.org/library/book/great-depression
Willis, “The Theory and Practice of Central Banking”:
https://archive.org/details/theorypracticeof0000henr
Reed, “Federal Reserve Policy 1921-1930”:
https://archive.org/details/federalreservepo0000haro/page/n7/mode/2up
Willis, “Who Caused the Panic of 1929?”:
https://www.jstor.org/stable/25110946
Rogoff, “Central Banking Functions of the United States Treasury, 1789-1941”:
https://archive.org/details/in.ernet.dli.2015.469624/page/n5/mode/2up