Financial History of the United States

Financial History of the United States
By Paul Studenski and Herman Edward Kroos
2003/04 - Beard Books
1587981750 - Paperback - Reprint -  538 pp.

This well documented book will appeal to economists, historians, political scientists, and anyone eager to understand the intertwining of the political and economic actions in our society.

Publisher Comments

Categories: Banking & Finance | History

Of Interest:

American Economic History

Colonial Merchants and the American Revolution

Early Financial History of the United States

The Financial Giants in United States History

This work analyzes how political issues influence public finance, particularly governmental monetary, credit, and foreign trade controls. It aims to promote a better understanding of the genesis, interrelationships, and effects of governmental fiscal, monetary, banking, and tariff policies and institutional arrangements. The authors trace the theories that underlie financial practice, believing that the advances and mistakes made by each generation can be found in the forces that shaped events.

From Book News, Inc.:

Looking at both public finance and developments in tariffs and banking regulation, the authors (both economics professors at New York U. at the time of writing this book) trace the development of U.S. financial policies at the local, state, and federal levels. The narrative runs from colonial days to just after World War II. The authors explore the rationales given for implementing policy and explore the impact of non-financial political events on the formation of policy. This is a paperbound reprint of a work first published in 1952. Annotation 2003 

Paul Studenski, 1887-1961, was born and raised in Russia. He studied law in Russia and then medicine at the Sorbonne in Paris. He entered a brief but accomplished career in aviation and his feats in this regard can be found in a collection at the National Air and Space Museum. He then returned to academe, and received a doctorate from Columbia University in 1921. This was followed by a distinguished career in teaching and government service. He was a Professor of Economics at New York University from 1927 to 1955, and followed this for two years as Director of the Albany Graduate Program in Public Administration. He was a highly regarded consultant and adviser, and authored many books.

Herman Edward Krooss, 1912-1975, was an educator and author. He received a Ph.B. from Muhlenberg College in 1934, an M.A. from the University of Pennsylvania in 1935, and a Ph.D. from New York University in 1947. He was on the faculty at New York University from 1947 to 1975, which included being a Professor of Economics from 1953 to 1975 and Department Chairman from 1959 to 1965. He was the author or editor of numerous books.

Preface vii
1. The Meaning and Basic Trends of Financial History 1
PART I. From the Colonial Period to the Civil War
2. Colonial Finance 12
3. Financing the Revolution 25
4. From Colonial Organization to Statehood and Federalism 33
5. Establishment of the National Financial System 45
6. Jeffersonian Finance 65
7. Financing the War of 1812 75
8. The Search for New Guideposts, 1816 to 1828 82
9. Finances of an Emerging Democracy, 1828 to 1837 97
10. Financing through the Depression 111
11. Finances of the Last Agrarian Administrations 119
12. State and Local Finance, 1800 to 1860 128

PART II. From the Civil War to World War I

13. Civil War Financing: The First Mistakes 137
14. Civil War Financing: The More Effective Stage 147
15. Fiscal Readjustments after the Civil War 161
16. Post-Civil War Monetary and Banking Readjustments 176
17. State and Local Finance, 1860-1900 192
18. Failures of a Reform Administration 201
19. Finances of the Gilded Age:  Disappearance of the Surplus 212
20. Finances of the Gilded Age: The Triumph of Industrialism 226
21. The Progressive Era: Monetary and Banking Reforms 241
22. The Progressive Era: Fiscal Policy 263
PART III. Since World War I
23. Financing World War I 280
24. The Prosperous Twenties: Fiscal Problems 302
25. The Prosperous Twenties: Monetary and International Financial Policies 327
26. State and Local Finance, 1900-1910 344
27. The Gloomy Years 353
28. The New Deal: Monetary, Banking and Tariff Policies 382
29. The New Deal: Fiscal Policies 403
30. Financing World War II  436
31. Deflation or Inflation: Peace or War 459
Bibliography 489
Appendix 1: Historical Series of Federal Receipts, Expenditures, Surplus or Deficit, and Debt, Fiscal Years 1789-1950 504
Appendix 2: Historical List of Heads of the United States Treasury, the Federal Reserve Board, and the General Accounting Office 508
Index 511

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