Read America's Great Depression Online
Authors: Murray Rothbard
Brookbart, Smith, 247
Beckhart, Benjamin Haggott, 139,
Brown, Harry Gunnison, 22
147, 156, 164, 180
Brown, J. Douglas, 264, 311
Belgium, 152
Brown, William Adams, Jr., 150–51,
Bellerby, J.R., 177, 179
251
Bendix, Vincent, 309
Brownell, F.H., 243
Benedict, Murray R., 218, 224, 234
Bruere, Henry, 266
Benes, Eduard, 175
Bryan, William Jennings, Jr., 308
Benham, Frederic, 51, 143
Budge, Siegfried, 9
Berglund, Abraham, 139
Budget, See Government
Bernays, Edward, 247
Bernstein, Irving, 200, 213, 244,
Burgess, W. Randolph, 151
246, 252–53, 264–65, 271,
Burlingham, C.C., 252
300
Burtness, B., 177, 309
Berridge, William A., 293
Business cycles, 3–4, 7, 30, 33,
Bestor, Paul, 275
35–36, 47, 49–50, 58, 63–65,
Beveridge, William, 143
67–68, 75, 85, 93, 195, 198
Bills discounted, See Federal
causes of, 6, 8, 55, 72, 80
Reserve System
recurrence of, 33
Bimetallism, See Silver
see also
Deflation, Depression,
Black, Hugo, 243
Inflation, Business cycles
Black, John D., 226
and economics
Blackett, Basil, 147, 151, 178
Business fluctuations, 4–8, 35, 61,
Bliven, Bruce, 251
64, 72
Bockus, C.E., 284
Butler, Nicholas Murray, 175,
278–79
Boden–Kredit Anstalt, 257
Butterworth, William, 210–11
Böhm-Bawerk, Eugen von, 11, 37
Byrd, Richard E., 290
Bonbright, James C., 265
Booms, See Inflation
Borchard, Edwin W., 292
California, 236, 244, 247, 250, 266,
Boulder Dam, See Dams
283
Bradley, Phillips, 265
Canada, 226, 242, 248, 295
352
America’s Great Depression
Capital goods, 9–14, 16, 18, 29–31,
Chicago Board of Trade, 231
37, 46, 56–57, 59–61, 63–64,
Child labor, 189
67–68, 71–72, 79–80, 171,
Christensen, Alice M., 218
248, 261, 315, 331, 336
Citizens’ Reconstruction
Capper–Haugen Bill, 226
Organization, 306
Capper–McFadden Bill, 221
Clark, Grenville, 290
Capper–Williams Bill of 1924, 227
Clark, John Bates, 251, 311
Capper–Volstead Cooperative
Clark, John Maurice, 217, 251, 293,
Marketing Act of 1922, 221
313
Carnegie Corporation, 195
Clark, Lawrence E., 123–24, 128,
Cartels, See Socialism
132, 144–45, 155–56,
Carter, Edward C., 251
158–59, 260, 326
Carter, Edward W., 319
Clark, Victor S., 251
Carver, Thomas Nixon, 265, 294,
Clay, Henry, 145, 148, 179
313
Clemence, Richard V., 74
Cassady, Ralph, Jr., 251
Coit, Margaret, 280
Cassel, Gustav, 177, 179–80, 314
Colcord, Joanna C., 251, 311
Catchings, Waddill, 60, 180,
Collective bargaining, 189, 201
198–99, 251
Collectivism, See Socialism
Central banking, See Federal
Commerce, Department of, 140–41,
Reserve System
190, 195, 197, 207, 217,
Central Republic Bank and Trust
341–45
Company, 297
Commons, John R., 172–75, 179,
Chadbourne, Thomas L., 194
180, 194, 251, 266, 311, 313
Chafee, Zechariah, Jr., 251
Communism and Communists, 201,
Chamber of Commerce, See
330
International Chamber of
Compensated dollar, 177, 310
Commerce; United States
Compton, Karl T., 278
Chamber of Commerce
Comstock, William, 326, 328
Chamberlain, Joseph P., 197, 251
Construction, See Public works
Chandler, Lester Vernon, 128, 135,
Construction League of America, 294
144–46, 148, 151–52, 157,
Consumer credit, See Credit
161, 171
Consumption, 5, 9–12, 18, 20, 22,
Chapin, Roy D., 297
30, 38–39, 41, 45, 51–52, 57,
Chapman, John M., 167, 295
61–63, 66–68, 70, 80, 185,
Chase National Bank, 76, 174, 249,
248–49, 253, 268, 277, 315
274, 317
Cooke, Morris L., 197, 251, 292
Chase, Stuart, 252, 278, 294, 312
Coolidge, Calvin, 121, 142, 153,
Chemical industry, 171
156, 163, 175, 197, 225–26,
Chicago Association of Commerce,
272, 290, 322
176
Cooper, Kent, 330
Index
353
Copeland, Morris A., 251, 311
Cuba, 132
Copper, 132
Cumberland, W.W., 315
Cord, E.L., 309
Currency, See Money
Corn, 223
Currie, Lauchlin, 98, 303, 305
Corn Belt Committee, 233
Cycles, See Business cycles
Costigan, Edward P., 300
Czechoslovakia, 175
Costs, See Prices
Cotton, 132, 222–23, 225, 227, 231,
242, 247, 300
Dairy industry, 234
Cotton Stabilization Corporation,
Dakin, E.F., 6
232
Coughlin, Charles E., 311
Dams
Couzens, James, 197
Boulder Dam, 247, 295
Cowden, J. Cheever, 294
Grand Coulee Dam, 247
Cowley, Malcolm, 251
Hoover Dam, 239, 247
Cowling, Donald, 251
Daugherty, Harry M., 204
Cox, Garfield V., 313
Davies, George R., 333
Coyle, David Cushman, 292, 294
Davis, Jerome, 251
Credit
Davis, John W., 175, 273
contraction and expansion of,
Davison, Henry, 128
4, 9, 11, 12–19, 21–25,
Dawes, Charles G., 175, 297, 299,
29–35, 57, 67–68, 72, 76, 85,
306
93, 130, 139, 146–47,
Dawes Plan, 131
150–51, 153–56, 158–59,
Deflation, 14–17, 19, 21, 34, 56, 75,
162, 169–71, 214, 263, 265,
115–16, 151, 181, 261,
269, 274, 307–08, 313–15,
303–04, 315, 326, 329
329
Defrees, Joseph H., 194–95
installment, 79
Delaware, 327
see also
Federal Reserve System;
Foreign loans; Inflation;
Demand, See Money; Speculative
Reconstruction Finance
demand
Corporation
Demand deposits, See Banking
Credit theories, qualitative, 75–80,
Democratic Party, 197
123, 162, 164–65
Denman, C.B., 228
Creditors, See Bankruptcy
Denmark, 248
Crissinaer, Daniel R., 145
Dennison, Henry S., 279
Croly, Herbert, 189
Depression
Crosby, Oscar T., 145
characteristics of, 6, 8, 12,
Croxton, Fred C., 197, 247, 264,
14–16, 30, 35, 44, 50–51,
272–73, 276, 301
57, 61, 169, 334, 337
354
America’s Great Depression
government policy during, 19,
Durant, William C., 163
21–22, 38, 116, 120, 124,
Eastman, George, 174
163, 167, 253, 263, 304–05,
Eaton, Howard O., 311–12
310, 322–23, 336
Ebersole, J. Franklin, 299
prevention of, 23, 27
Edgerton, John, 266, 273
stock market crash, 161–63,
209, 215, 249
Edgeworth, Francis Y., 174
see also
Business cycles; Hoover,
Edie, Lionel D., 176, 311, 315
Herbert C.
Edison, Thomas, 176
Depression of 1819, 186
Egypt, 242
Depression of 1873–79, 210
Einzig, Paul, 179
Depression of 1893, 192
Eldridge, Seba, 251
Depression of 1920–21, 186, 189,
Ely, Richard T., 220, 252, 292
191, 195, 205, 214, 249, 333
Emergency Relief and Construction
Dewey, Davis F., 251
Act of 1932, 299–300
Dewey, Edward R., 6
Emery, James A., 250
Dewing, Arthur Stone, 299
Employment, See Unemployment
Dice, Charles A., 181
Employment Stabilization Act, See
Dickinson, Z.C., 293
Wagner Act
Dickstein, Samuel, 164, 319
Entrepreneurs, See Business cycles
Direct relief, 271–72, 300
Epstein, Ralph C., 292
Director, Aaron, 313
Ernst, Morris L., 197
Discount rate, See Federal Reserve
Europe, 126, 130, 138–39, 144,
System; Interest
147–48, 158–59, 161, 176,
Discounted bills, See Federal
243, 257–59, 262
Reserve System
Evans, Frank, 228
Divine, Robert A., 243, 270, 320
Exports, See Agriculture
Donham, Wallace B., 279
Doody, Francis S., 74
Dorfman, Joseph, 180, 188, 193,
199, 220, 227, 252, 263, 270,
Fabricant, Solomon, 343–44
279–80, 294, 306, 311–12
Fairchild, Fred Rogers, 270
Douglas, Dorothy W., 252
Fairchild, Henry Pratt, 251
Douglas, Paul H., 197, 251, 265–66,
Farms, See Agriculture
292, 294, 312, 313
Farrell, James A., 270
Due, John F., 340
Fascism, See Socialism
Duggan, Stephen P., 251
Federal Advisory Council, 128
DuPont, Pierre, 211, 273
Federal Farm Board, 227–29, 231,
Durable goods, See Capital goods
233–35, 248
Durant, Will, 279
Federal Farm Loan Act, 218
Index
355
Federal Farm Loan System, 218
repurchase agreements, 132
Federal government, See
reserves, See Banking, reserves
Government
Federal Trade Commission, 207,
Federal Home Loan Bank System,
218–20
276, 285, 299, 317–18, 321
Federated American Engineering
Federal Intermediate Credit System,
Societies, 196
220
Feis, Herbert, 197
Federal Labor Reserve Board, 193
Fels, S., 197
Federal Reserve Act, 100, 104, 129
Ferguson, John M., 251
Federal Reserve Bank of Chicago,
Fess, Simeon D., 330
156
Fetter, Frank Albert, 10, 32, 251,
Federal Reserve Bank of Kansas
312
City, 156
Federal Reserve Bank of New York,
Fetter, Frank Whitson, 140, 312
See New York Federal
Filene, Edward, 90, 251
Reserve Bank
Fisher, Irving, 164, 173–74, 176–78,
Federal Reserve System, 25–26,
180–81, 194, 251, 292,
28–29, 94, 96, 100–03, 105,
308–10, 312–14, 325
107–08, 113, 115, 117, 120–
Fite, Gilbert N., 235
23, 130, 132, 134–35, 152,
Flanders, Ralph E., 279
154, 156, 159, 167, 172, 177,
Flour, 132
180, 214, 220, 239, 245, 248,
Fluctuations, See Business fluctua-
250, 260, 302–04, 308–09
tions
acceptances, 104, 126–29, 132,
Flynn, John T., 297–98
137, 160–61, 165–66, 215,
Ford, Henry, 176, 210, 212, 270,
240, 262
272, 326
bills discounted, 104–05,
107–08, 111–15, 117, 137,
Fordney–McCumber Tariff, 139–40
262, 324
Foreign acceptances, 126–27,
call loan rates, 124, 133, 159,
129–30, 133, 165, 260
240
Foreign loans
foreign relations, See Foreign
by U.S. government, 139, 142
acceptances; New York
U.S. government control over,
Federal Reserve Bank
130–32, 138, 140–42, 147,
government securities, See
152, 158–59, 188, 241, 257,
Government securities
260
loans to banks, 25, 113
Foreign Trade Financial
Open-Market Committee and
Corporation, 191
open-market operations,
Foster, William Trufant, 175,
26, 104, 107, 133–34,
179–80, 198–99, 214,
137–38, 156, 160, 171, 302,
265–66, 291–92, 294
306, 313
Foster, William Z., 201
356
America’s Great Depression
Fractional-reserve banking, See
Glass–Steagall Act, 296, 301,
Banking, fractional–reserve
306–07, 313
banking
Gold, gold exchange standard, gold
France,
see also
Bank of France, 259
standard, 15, 17, 19, 21,
France, Royal W., 278
25–27, 34–35, 87, 91, 94–95,
Frankfurter, Felix, 252, 292
103, 107–08, 111–12, 138,
Frazier, Frederic H., 309
142, 145, 150–55, 158, 161,
Frederick, J. George, 278
165, 176–78, 181, 215, 240,
258–59, 261–62, 274, 293,
French, D.R., 88
302–06, 309, 314–15,
Frey, John P., 198, 266
322–24, 326, 328–30
Friday, David, 175, 313
Goldsborough, Phillips L., 297
Friedman, David A., 177
Goldsborough, T. Alan, 177,
Friedman, Elisha M., 251
309–10
Friedman, Milton, 90
Gompers, Samuel, 174, 194, 225
Friedrich, A. Anton, 251
Goodrich, Carter, 251
Fusfeld, Daniel R., 195, 272, 279
Government, Federal, control over
Fuss, Henri, 179
business and industry
depression policy,
see also
Hoover, Herbert C., 45
Gage, Lyman J., 174
expenditures and spending by,
Gardner, Henry B., 293
20, 22, 24, 106, 185, 253,
Garrett, Garet, 131
255–56, 263, 288–89, 291,
Gary, Elbert H., 200–03
315, 339–41, 343–45