America's Great Depression
Index
A | B | C | D | E
F | G | H | I | J
K | L | M | N | O
P | R | S | T | U
V | W | Y
A
Abbott, Charles Cortez, 130, 161
Abbott, Charles F., 278
Abbott, Edith, 251, 271
Acceleration principle, 60–68
Acceptances, See Federal Reserve System
Achinstein, Asher, 251
Addams, Jane, 194
Addis, Charles S., 179
Agricultural Adjustment Administration, 280
Agricultural Credits Act of 1923, 122, 221
Agriculture
exports of, loans to, 121–22, 129, 138–39, 142, 147, 153, 156, 159, 165, 219–21, 226–27, 241, 258, 271, 299–300, 322
farm holidays, 235
prices, 147, 153, 158–59, 171, 181, 191, 222, 227, 239, 248, 315
Agriculture, Department of, 217, 222, 225
Alabama, 301
Aldrich, Winthrop W., 140, 149, 181, 262
Alexander, Magnus W., 306, 309
Amalgamated Clothing Workers, 282
American Acceptance Council, 128, 155
American Association for Labor Legislation, 176, 193–94, 196–97, 202, 250
American Bankers’ Association, 244
American Bar Association, 176
American Construction Council, 195
American Cotton Association, 222
American Council of Agriculture, 225
American Council on Education, 179
American Economic Association, 248
Committee on Purchasing Power, 174
American Engineering Council, 196, 300
American Farm Bureau Federation, 179, 217, 223, 225, 228, 241, 310
American Farm Economic Association, 179
American Federation of Labor, 174–75, 195–96, 198, 200, 213–14, 241, 244–45, 266, 281–82, 294, 308, 310, 319
American Gas Association, 212
American Home Economic Association, 244
American Institute of Architects, 244
American Iron and Steel Institute, 200
American Legion, 319
American Railways Association, 212
American Statistical Association, 179
American Wheat Growers’ Association, 225
Anderson, Benjamin M., 46, 76, 101, 123–24, 131, 153, 156, 160, 186, 239, 249, 257, 296, 326
Andrews, John B., 193–94, 196, 250
Angell, James W., 313
Angly, Edward, 268, 326, 330
Argentina, 231, 242
Arizona, 247
Associated General Contractors of America, 197, 294
Atkins, Willard E., 252, 311
Austria, 152, 175, 257–60
Austrian theory, See Mises, Ludwig von
Avery, Sewell, 264
Aydelotte, Frank, 311
Ayres, Leonard P., 175, 277, 311
B
Bacon–Davis Act, 268
Bailey, W.J., 156
Baker, Newton D., 174, 273, 290
Baker, Ray Stannard, 197
Balch, Emily Green, 251
Balderston, C. Canby, 311
Balfour, Arthur, 175
Ballantine, Arthur, 330
Bancroft, Hugh, 269–70
Bank credit, See Banking; Credit
Bank of International Settlements, 240, 258, 260
Bank of Belgium, 145
Bank of England, 144, 146, 150, 153, 155, 156, 162, 258–60
Bank of France, 144, 152, 154, 175, 258–59
Bank of Italy, 145, 152
Bank of Poland, 145
Banking
bank holidays, 325–28, 330
bank runs, 15, 21, 25, 55, 88, 97, 304, 325–26
demand deposits, 87–89, 91, 97–102, 113–16, 160, 258, 261, 302, 304–05, 324–27, 330
fractional-reserve banking, 15, 21, 24–25, 27, 34, 326, 329
“free” banking, 27
mortgages, 90, 276, 317
Panic of 1819, 325
Panic of 1837, 186
reserves, 21, 26, 97–98, 99–103, 105–08, 111–14, 123, 160, 214, 240, 261–62, 302, 305, 324
time deposits, 87–90, 97–102, 114–16, 160, 325
“wildcat” banking, 27 see also Credit; Federal Reserve System
Banking School, 76–78
Bankruptcy laws, 187, 243, 274, 285–86, 318–19, 323
Barnes, Julius, 212, 229
Barnett, George E., 311
Barrett, William J., 335
Baruch, Bernard M., 197, 225, 227–28, 273, 279, 280, 296
Bassic, V. Lewis, 81
Baster, A.S.J., 130
Bault, William J., 264
Beard, Charles A., 278
Beard, Mary, 197
Beck, James M., 290
Beckhart, Benjamin Haggott, 139, 147, 156, 164, 180
Belgium, 152
Bellerby, J.R., 177, 179
Bendix, Vincent, 309
Benedict, Murray R., 218, 224, 234
Benes, Eduard, 175
Benham, Frederic, 51, 143
Berglund, Abraham, 139
Bernays, Edward, 247
Bernstein, Irving, 200, 213, 244, 246, 252–53, 264–65, 271, 300
Berridge, William A., 293
Bestor, Paul, 275
Beveridge, William, 143
Bills discounted, See Federal Reserve System
Bimetallism, See Silver
Black, Hugo, 243
Black, John D., 226
Blackett, Basil, 147, 151, 178
Bliven, Bruce, 251
Bockus, C.E., 284
Boden–Kredit Anstalt, 257
Böhm-Bawerk, Eugen von, 11, 37
Bonbright, James C., 265
Booms, See Inflation
Borchard, Edwin W., 292
Boulder Dam, See Dams
Bradley, Phillips, 265
Brand, Charles J., 225
Brandeis, Louis D., 189, 279
Breckenridge, Sophinisba P., 251
Bresciani-Turroni, Costantino, 23
Brewster, Ralph Owen, 197–98
Brissenden, Paul F., 251, 265, 292
Britain, See Great Britain
Brookbart, Smith, 247
Brown, Harry Gunnison, 22
Brown, J. Douglas, 264, 311
Brown, William Adams, Jr., 150–51, 251
Brownell, F.H., 243
Bruere, Henry, 266
Bryan, William Jennings, Jr., 308
Budge, Siegfried, 9
Budget, See Government
Burgess, W. Randolph, 151
Burlingham, C.C., 252
Burtness, B., 177, 309
Business cycles, 3–4, 7, 30, 33, 35–36, 47, 49–50, 58, 63–65, 67–68, 75, 85, 93, 195, 198
causes of, 6, 8, 55, 72, 80
recurrence of, 33 see also Deflation, Depression, Inflation, Business cycles and economics
Business fluctuations, 4–8, 35, 61, 64, 72
Butler, Nicholas Murray, 175, 278–79
Butterworth, William, 210–11
Byrd, Richard E., 290
C
California, 236, 244, 247, 250, 266, 283
Canada, 226, 242, 248, 295
Capital goods, 9–14, 16, 18, 29–31, 37, 46, 56–57, 59–61, 63–64, 67–68, 71–72, 79–80, 171, 248, 261, 315, 331, 336
Capper–Haugen Bill, 226
Capper–McFadden Bill, 221
Capper–Williams Bill of 1924, 227
Capper–Volstead Cooperative Marketing Act of 1922, 221
Carnegie Corporation, 195
Cartels, See Socialism
Carter, Edward C., 251
Carter, Edward W., 319
Carver, Thomas Nixon, 265, 294, 313
Cassady, Ralph, Jr., 251
Cassel, Gustav, 177, 179–80, 314
Catchings, Waddill, 60, 180, 198–99, 251
Central banking, See Federal Reserve System
Central Republic Bank and Trust Company, 297
Chadbourne, Thomas L., 194
Chafee, Zechariah, Jr., 251
Chamber of Commerce, See International Chamber of Commerce; United States Chamber of Commerce
Chamberlain, Joseph P., 197, 251
Chandler, Lester Vernon, 128, 135, 144–46, 148, 151–52, 157, 161, 171
Chapin, Roy D., 297
Chapman, John M., 167, 295
Chase National Bank, 76, 174, 249, 274, 317
Chase, Stuart, 252, 278, 294, 312
Chemical industry, 171
Chicago Association of Commerce, 176
Chicago Board of Trade, 231
Child labor, 189
Christensen, Alice M., 218
Citizens’ Reconstruction Organization, 306
Clark, Grenville, 290
Clark, John Bates, 251, 311
Clark, John Maurice, 217, 251, 293, 313
Clark, Lawrence E., 123–24, 128, 132, 144–45, 155–56, 158–59, 260, 326
Clark, Victor S., 251
Clay, Henry, 145, 148, 179
Clemence, Richard V., 74
Coit, Margaret, 280
Colcord, Joanna C., 251, 311
Collective bargaining, 189, 201
Collectivism, See Socialism
Commerce, Department of, 140–41, 190, 195, 197, 207, 217, 341–45
Commons, John R., 172–75, 179, 180, 194, 251, 266, 311, 313
Communism and Communists, 201, 330
Compensated dollar, 177, 310
Compton, Karl T., 278
Comstock, William, 326, 328
Construction, See Public works
Construction League of America, 294
Consumer credit, See Credit
Consumption, 5, 9–12, 18, 20, 22, 30, 38–39, 41, 45, 51–52, 57, 61–63, 66–68, 70, 80, 185, 248–49, 253, 268, 277, 315
Cooke, Morris L., 197, 251, 292
Coolidge, Calvin, 121, 142, 153, 156, 163, 175, 197, 225–26, 272, 290, 322
Cooper, Kent, 330
Copeland, Morris A., 251, 311
Copper, 132
Cord, E.L., 309
Corn, 223
Corn Belt Committee, 233
Costigan, Edward P., 300
Costs, See Prices
Cotton, 132, 222–23, 225, 227, 231, 242, 247, 300
Cotton Stabilization Corporation, 232
Coughlin, Charles E., 311
Couzens, James, 197
Cowden, J. Cheever, 294
Cowley, Malcolm, 251
Cowling, Donald, 251
Cox, Garfield V., 313
Coyle, David Cushman, 292, 294
Credit
contraction and expansion of, 4, 9, 11, 12–19, 21–25, 29–35, 57, 67–68, 72, 76, 85, 93, 130, 139, 146–47, 150–51, 153–56, 158–59, 162, 169–71, 214, 263, 265, 269, 274, 307–08, 313–15, 329
installment, 79 see also Federal Reserve System; Foreign loans; Inflation; Reconstruction Finance Corporation
Credit theories, qualitative, 75–80, 123, 162, 164–65
Creditors, See Bankruptcy
Crissinaer, Daniel R., 145
Croly, Herbert, 189
Crosby, Oscar T., 145
Croxton, Fred C., 197, 247, 264, 272–73, 276, 301
Cuba, 132
Cumberland, W.W., 315
Currency, See Money
Currie, Lauchlin, 98, 303, 305
Cycles, See Business cycles
Czechoslovakia, 175
D
Dairy industry, 234
Dakin, E.F., 6
Dams
Boulder Dam, 247, 295
Grand Coulee Dam, 247
Hoover Dam, 239, 247
Daugherty, Harry M., 204
Davies, George R., 333
Davis, Jerome, 251
Davis, John W., 175, 273
Davison, Henry, 128
Dawes, Charles G., 175, 297, 299, 306
Dawes Plan, 131
Deflation, 14–17, 19, 21, 34, 56, 75, 115–16, 151, 181, 261, 303–04, 315, 326, 329
Defrees, Joseph H., 194–95
Delaware, 327
Demand, See Money; Speculative demand
Demand deposits, See Banking
Democratic Party, 197
Denman, C.B., 228
Denmark, 248
Dennison, Henry S., 279
Depression
characteristics of, 6, 8, 12, 14–16, 30, 35, 44, 50–51, 57, 61, 169, 334, 337
government policy during, 19, 21–22, 38, 116, 120, 124, 163, 167, 253, 263, 304–05, 310, 322–23, 336
prevention of, 23, 27
stock market crash, 161–63, 209, 215, 249 see also Business cycles; Hoover, Herbert C.
Depression of 1819, 186
Depression of 1873–79, 210
Depression of 1893, 192
Depression of 1920–21, 186, 189, 191, 195, 205, 214, 249, 333
Dewey, Davis F., 251
Dewey, Edward R., 6
Dewing, Arthur Stone, 299
Dice, Charles A., 181
Dickinson, Z.C., 293
Dickstein, Samuel, 164, 319
Direct relief, 271–72, 300
Director, Aaron, 313
Discount rate, See Federal Reserve System; Interest
Discounted bills, See Federal Reserve System
Divine, Robert A., 243, 270, 320
Donham, Wallace B., 279
Doody, Francis S., 74
Dorfman, Joseph, 180, 188, 193, 199, 220, 227, 252, 263, 270, 279–80, 294, 306, 311–12
Douglas, Dorothy W., 252
Douglas, Paul H., 197, 251, 265–66, 292, 294, 312, 313
Due, John F., 340
Duggan, Stephen P., 251
DuPont, Pierre, 211, 273
Durable goods, See Capital goods
Durant, Will, 279
Durant, William C., 163
E
Eastman, George, 174
Eaton, Howard O., 311–12
Ebersole, J. Franklin, 299
Edgerton, John, 266, 273
Edgeworth, Francis Y., 174
Edie, Lionel D., 176, 311, 315
Edison, Thomas, 176
Egypt, 242
Einzig, Paul, 179
Eldridge, Seba, 251
Ely, Richard T., 220, 252, 292
Emergency Relief and Construction Act of 1932, 299–300
Emery, James A., 250
Employment, See Unemployment
Employment Stabilization Act, See Wagner Act
Entrepreneurs, See Business cycles
Epstein, Ralph C., 292
Ernst, Morris L., 197
Europe, 126, 130, 138–39, 144, 147–48, 158–59, 161, 176, 243, 257–59, 262
Evans, Frank, 228
Exports, See Agriculture
F
Fabricant, Solomon, 343–44
Fairchild, Fred Rogers, 270
Fairchild, Henry Pratt, 251
Farms, See Agriculture
Farrell, James A., 270
Fascism, See Socialism
Federal Advisory Council, 128
Federal Farm Board, 227–29, 231, 233–35, 248
Federal Farm Loan Act, 218
Federal Farm Loan System, 218
Federal government, See Government
Federal Home Loan Bank System, 276, 285, 299, 317–18, 321
Federal Intermediate Credit System, 220
Federal Labor Reserve Board, 193
Federal Reserve Act, 100, 104, 129
Federal Reserve Bank of Chicago, 156
Federal Reserve Bank of Kansas City, 156
Federal Reserve Bank of New York, See New York Federal Reserve Bank
Federal Reserve System, 25–26, 28–29, 94, 96, 100–03, 105, 107–08, 113, 115, 117, 120–23, 130, 132, 134–35, 152, 154, 156, 159, 167, 172, 177, 180, 214, 220, 239, 245, 248, 250, 260, 302–04, 308–09
acceptances, 104, 126–29, 132, 137, 160–61, 165–66, 215, 240, 262
bills discounted, 104–05, 107–08, 111–15, 117, 137, 262, 324
call loan rates, 124, 133, 159, 240
foreign relations, See Foreign acceptances; New York Federal Reserve Bank
government securities, See Government securities
loans to banks, 25, 113
Open-Market Committee and open-market operations, 26, 104, 107, 133–34, 137–38, 156, 160, 171, 302, 306, 313
repurchase agreements, 132
reserves, See Banking, reserves,
Federal Trade Commission, 207, 218–20
Federated American Engineering Societies, 196
Feis, Herbert, 197
Fels, S., 197
Ferguson, John M., 251
Fess, Simeon D., 330
Fetter, Frank Albert, 10, 32, 251, 312
Fetter, Frank Whitson, 140, 312
Filene, Edward, 90, 251
Fisher, Irving, 164, 173–74, 176–78, 180–81, 194, 251, 292, 308–10, 312–14, 325
Fite, Gilbert N., 235
Flanders, Ralph E., 279
Flour, 132
Fluctuations, See Business fluctuations
Flynn, John T., 297–98
Ford, Henry, 176, 210, 212, 270, 272, 326
Fordney–McCumber Tariff, 139–40
Foreign acceptances, 126–27, 129–30, 133, 165, 260
Foreign loans
by U.S. government, 139, 142
U.S. government control over, 130–32, 138, 140–42, 147, 152, 158–59, 188, 241, 257, 260
Foreign Trade Financial Corporation, 191
Foster, William Trufant, 175, 179–80, 198–99, 214, 265–66, 291–92, 294
Foster, William Z., 201
Fractional-reserve banking, See Banking, fractional–reserve banking
France, see also Bank of France, 259
France, Royal W., 278
Frankfurter, Felix, 252, 292
Frazier, Frederic H., 309
Frederick, J. George, 278
French, D.R., 88
Frey, John P., 198, 266
Friday, David, 175, 313
Friedman, David A., 177
Friedman, Elisha M., 251
Friedman, Milton, 90
Friedrich, A. Anton, 251
Fusfeld, Daniel R., 195, 272, 279
Fuss, Henri, 179
G
Gage, Lyman J., 174
Gardner, Henry B., 293
Garrett, Garet, 131
Gary, Elbert H., 200–03
Gay, Edwin F., 293
Gayer, Arthur D., 252, 265
Geddes, A.E., 301
General Electric, 253, 277–78
General Motors, 308
Genoa Conference, 177–79
George, David Lloyd, 178
Georgia, 301
Germany, 130–32, 144, 151, 154, 258–59
Gideonse, Harold D., 313
Gifford, Walter S., 273, 308
Gilbert, S. Parker, 127, 131, 133
Gilbreth, Lillian, 247
Gilfillan, S. Colum, 251
Givens, Meredith B., 251
Glass, Carter, 163–64, 174, 310, 323, 328
Glass–Steagall Act, 296, 301, 306–07, 313
Gold, gold exchange standard, gold standard, 15, 17, 19, 21, 25–27, 34–35, 87, 91, 94–95, 103, 107–08, 111–12, 138, 142, 145, 150–55, 158, 161, 165, 176–78, 181, 215, 240, 258–59, 261–62, 274, 293, 302–06, 309, 314–15, 322–24, 326, 328–30
Goldsborough, Phillips L., 297
Goldsborough, T. Alan, 177, 309–10
Gompers, Samuel, 174, 194, 225
Goodrich, Carter, 251
Government, Federal, control over business and industry
depression policy, see also Hoover, Herbert C., 45
expenditures and spending by, 20, 22, 24, 106, 185, 253, 255–56, 263, 288–89, 291, 315, 339–41, 343–45
Government securities, 93, 104, 107–08, 111–15, 117–18, 126, 133–35, 137, 161, 214, 240, 302–03, 324
Grace, Eugene, 206, 211
Grady, Henry F., 251
Graham, Frank D., 15, 89, 311–12
Grain Futures Act of 1921, 191
Grain Stabilization Corporation, 230–31
Graves, Lloyd M., 190–91
Great Britain
monetary policies, 117–18, 122, 130, 142–44, 146–47, 149–50, 152–55, 161, 165–66, 175, 181, 258–62, 271, 274 see also Bank of England
Great Depression, See Depression
Green, William, 175, 198, 212, 239, 243–45, 250, 270, 273, 277, 282, 290
Greece, 152
Gregory, Theodore E., 316
Gregory, W.L., 325
Gross National Product, 253–55, 263, 289, 331, 339–41
Groves, Harold M., 252
Gulick, Luther, 252
H
Haberler, Gottfried von, 4, 30, 32, 314–15
Hadley, Arthur Twining, 174
Hahn, L. Albert, 43
Haig, Robert M., 292
Hale, Robert L., 251
Haligren, Mauritz A., 290
Hamilton, Walton Hale, 251, 292, 312
Hamlin, Charles S., 164
Hammond, J.H., 242
Hammond, M.B., 251, 293
Hansen, Alvin Henry, 176, 293, 313
Hard, William, 197
Harding, W.P.G., 119
Harding, Warren Gamaliel, 114, 117, 121, 141–42, 75, 189, 191, 194, 200–03, 220, 222
Hardy, Charles Oscar, 123, 130, 132, 135, 149, 167, 251, 313
Harper, Floyd Arthur, 5
Harriman, Henry I., 277, 280–82, 323
Harris, Seymour E., 119–20, 123, 305–06
Harrison, George L., 88, 240, 260
Harriss, Robert M., 311
Harrod, Roy F., 269
Hastings, Hudson B., 176
Hawtrey, Ralph O., 176–78, 180, 314
Hayek, Friedrich August, 11, 30, 32–33, 36–37, 60, 85, 198
Hayes, E.P., 265
Hays, Will, 273
Hazlitt, Henry, 22, 41
Hearst, William Randolph, 253, 265, 294
Heiple, Rae C., II, 22
Hepburn, A. Barton, 174
Herring, Clyde, 323
Hervey, John G., 319
Hicks, John D., 122, 218, 226, 324
Higher order goods, See Capital goods
Hillman, Sidney, 251, 282
Hillquit, Morris, 294
Hitler, Adolf, 244
Hoarding, 16–17, 38–41, 50–51, 57, 60, 181, 273, 306–07, 324, 328
Hogan, John P., 294
Holcombe, Arthur N., 251
Holland, 144
Hollander, Jacob, 151, 273, 277, 293, 313
Homan, Paul T., 47, 251
Home construction, See Construction
Hook, Charles R., 200
Hoover, Herbert C.
agricultural policies, 217, 227, 230
Committee on Recent Economic Changes, 196, 206
credit and inflation policies, 156–57, 164, 180, 195, 207, 245, 274–75, 301, 304–07, 321, 326, 328
government planning policies, 186, 188, 191, 204, 281, 321, 337
government spending policies, 263, 291, 299–300
immigration policies, 243–44, 270, 285, 319–20
labor policies, 189, 201, 203
oil production policy, 284
on foreign loans, 141
public works policies, 188, 192, 196, 199, 209, 217, 239, 246–47, 252–53, 255, 264–65, 285, 292, 295, 322
stock market policies, 163, 188, 246, 273, 316–17
tariff policies, 241, 321
tax policies, 256, 286–87, 290
unemployment policy, 190–91, 194, 200, 205, 211, 243, 247, 264, 271–72, 322
wages, 204, 209–11, 213, 245, 248, 264, 268, 282, 322
Hoover Dam, See Dams
Hopkins, Ernest M., 197
Hours of labor, 46, 52–53, 189, 202, 211, 268, 322, 334, 336
House, Edward Mandell, 189
Housing, 70, 194, 274
Houston, David, 219, 222
Howenstine, E. Jay, Jr., 192
Hoyt, Homer, 162
Huebsch, B.W., 251
Hughes, Charles Evans, 142, 175, 204
Hungary, 152, 226, 260
Hunt, Edward Eyre, 195, 246, 266
Hushing, W.C., 310
Hutcheson, William, 212
Hutt, W.H., 22, 42–43, 46, 49, 62, 68
Hyde, Arthur M., 209–10, 228, 230, 235
Hyperinflation, See Inflation
I
Illinois, 235, 301, 346
Immigration, 205, 243, 250, 286, 319 see also Hoover, immigration
India, 151
Indiana, 327
Industrial cartels, See Socialism
Inflation, 9, 11–12, 19, 23–24, 29, 43, 67–68, 71, 75, 86, 95, 97, 140, 148, 162–63, 240, 257, 262–63, 293, 309, 314–15, 329, 336
hyperinflation, 23, 131 see also Credit; Federal Reserve System
Inflation of 1921–1929
causes, 96, 102, 108, 112, 117, 121, 134–35, 137, 145, 149, 153, 155–57, 159, 161–62, 167
price stabilization as cause, 144–51, 169–70
Installment credit, See Credit, installment
Institute on Gold and Monetary Stabilization, 313
Insurance, life, 90–91, 93, 114, 323
Interchurch World Movement, 201
Interest rate, 6, 13, 40, 61, 68, 85, 131, 133, 135, 138, 146, 153–54, 159, 303
loan rate, 10, 14
natural rate, 10, 13, 17–18, 32, 40
International Association for Labor Legislation, 179
International Association for Social Progress, 179
International Association on Unemployment, 179
International Chamber of Commerce, 308
International Congress on Social Policy, 179
International Labor Office, 179
Interstate Commerce Commission, 220, 298
Intervention by government, 9, 19, 22, 65, 86
Investment, 5, 9–12, 18, 20, 22, 30, 32, 37–39, 41, 60, 63, 66–71, 78, 93, 185, 253, 269, 315, 331
malinvestment, 13, 18–19, 35, 57, 60, 68, 162, 192, 248, 314, 322
Iowa, 223, 235–36, 323
Iron industry, 171
Ise, John, 266
Italy, 152
J
Japan, 145
James, Governor, 121
Jardine, William, 226
Javits, Benjamin A., 279
Jay, Pierre, 119–20
Jenks, Jeremiah, W., 174, 201
Jevons, William Stanley, 28
Johnson, Alvin S., 251
Johnson, Hugh S., 225, 280
Johnson, Magnus, 122
Johnston, Alvaney, 212, 277, 306
Jones, Jesse H., 326, 328
Jones, Wesley, 197
Jordan, Virgil, 241, 281, 291, 313
Justice, Department of, 319
K
Kahn, Otto H., 175, 225
Kallen, Horace M., 292
Kaltenborn, H.V., 251
Kansas, 191, 222, 235, 283
Kazakévich, Vladimir D., 295
Keller, Kent, 309
Kellogg, Paul U., 142, 312
Kemmerer, Edwin W., 117, 175, 177, 251, 311, 313, 316
Kendrick, M. Slade, 291
Kennedy, Jane, 288
Kenyon, W.S., 196
Keynes, John Maynard, 37, 57, 66, 173–74, 268–69
Khaki Shirts of America, 236
Kimmel, Lewis H., 292
King, Willford Isbell, 175, 177, 251, 293, 308, 310–12
Knappen, Theodore M., 280
Knight, Frank H., 292, 313
Knopf, Alfred A., 251
Knox, Frank, 306–07
Kuznets, Simon S., 9, 74–75
Kyrk, Hazel, 251
L
Labor, See Child labor; Collective bargaining; Hours of labor; Unemployment; Unions; Wages
Lachmann, Ludwig M., 32
LaFollette, Robert M., 163, 253, 265, 278, 292, 300
Laidler, Harry W., 251
Laissez-faire, 185–86, 200, 207, 220, 227, 239, 263, 274, 278, 326, 329, 336
Lamont, Corliss, 251
Lamont, Robert P., 210, 212, 214, 268, 306, 316
Lamont, Mrs. Thomas W., 252
Lamont, Thomas W., 274
Landauer, Carl, 38
Lary, Hal B., 131, 138
Latourette, Kenneth S., 251
Lauck, W. Jett, 264
Lawrence, Joseph Stagg, 164, 180, 248
Lazard, Max, 175, 179
League of Nations, 152, 157, 178
Leffingwell, Russell C., 288
Legge, Alexander, 200, 228, 273, 279
Leiserson, William M., 193, 251, 266, 292, 312
Leland, Simeon E., 292
Lenroot–Anderson Bill, 221
Leon, René, 242, 308
LeRossignol, J.E., 251, 266, 294
Lester, Richard A., 312
Levinson, Harold M., 334
Lewis, John L., 212, 282
Lewisohn, Adolph, 194
Lewisohn, Samuel A., 194
Liberia, 142
Lilienthal, David E., 204
Lin Lin, 87–88
Lindahl, Erik, 41–42
Lindeman, Eduard C., 252
Lindsay, Samuel McCune, 194
Lipsey, Robert E., 343
Liquidity, See Money
Loans, See Credit; Federal Reserve System
Lombard, Norman, 176–77, 309
Loth, David, 253, 279
Loucks, William N., 252, 266, 292
Louisiana, 275, 301, 326
Lowden, Frank O., 175, 192
Lubell, Harold, 22, 52
Lumber industry, 266, 331
Lundberg, Ferdinand, 298
Lutz, Harley Leist, 312
Lyon, William H., 224
Lyons, Eugene, 189, 192, 194, 200–01
M
McAdoo, William G., 120, 203, 278, 280
McCrea, Roswell C., 251, 316
MacDonald, Ramsay, 268
McDonough, J.E., 318
McFadden, Louis T., 179–80
McGarrah, Gates W., 154, 240
MacIver, Robert M., 266, 294
McKelvie, Samuel, 228
MacKenzie, Frederick W., 203
McKinley, Gordon W., 87, 90–91, 95
McManus, T.F., 25, 56, 101, 167, 171–72, 332
McMullen, Joseph H., 190, 193, 205
McNary–Haugen bills, 225, 227
MacVeagh, Franklin, 174
Machlup, Fritz, 32, 47, 77, 79
Magee, James D., 312
Mallery, Otto Tod, 193, 196, 250–51, 264, 292, 312
Marget, Arthur W., 313
Margolin, Raphael, 192
Marshall, Alfred, 65, 174
Marshall, Thomas R., 174, 177
Massachusetts, 196, 266
May, A. Wilfred, 166–67
Mazur, Paul M., 279
Meeker, Royal W., 176, 197
Melchett, Lord, 175
Mellon, Andrew, 121, 124–25, 138, 140, 145–46, 151, 156, 158–59, 163–64, 197, 210, 217, 256, 268, 274–75, 286, 302
Merchants’ Association of New York, 176
Meriam, Lewis E., 264
Meyer, Eugene, Jr., 122, 219, 221, 225, 240, 274–76, 279, 296, 298, 302, 306–07
Michigan, 266, 326
Milk strikes, 236
Miller, Adolph C., 124, 134, 163, 310
Miller, Nathan, 189
Miller, Robert M., 203
Millis, Harry A., 251, 292, 313
Mills, Charles M., 290
Mills, Ogden, 155, 210, 274–76, 302, 306–07, 310, 330
Minnesota, 235, 237, 267, 323–24
Minnesota Farm Bureau, 233
Mints, Lloyd W., 313
Mises, Ludwig von and Austrian theory, 3–4, 10–11, 13, 17, 24, 27, 29–35, 37, 39, 56, 60, 65–68, 70, 72, 75, 77, 79–80, 85, 162, 170–71, 192, 261, 314
Mitchell, Broadus, 197, 251, 292, 312
Mitchell, Charles E., 88, 123, 274, 308, 328
Mitchell, John Purroy, 192
Mitchell, Lucy Sprague, 190
Mitchell, Wesley Clair, 56, 175, 190, 194–96, 252, 273, 277
Modigliani, Franco, 41–42
Money
cause of depressions, 6, 87
liquidity trap, 39
purchasing power, 7, 10, 43, 45, 58, 205, 265, 267–70, 315, 333–34
supply and demand of, 7, 9, 15–16, 29, 33, 39, 41, 50, 59, 64, 67, 89–90, 93–95, 101–02, 106, 108, 111–16, 137, 148–49, 160–62, 169–70, 215, 240, 249, 259, 261–62, 302–05, 315, 324–25, 329, 340 see also Deflation; Gold; Inflation; Silver
Montana, 235, 301
Moore, O. Ernest, 157
Moral suasion, 122–24, 163–65
Moreau, Emile, 152, 154, 175
Morgan, J.P. and Company, 145, 152, 240, 257, 260, 274, 298
Morgenstern, Oskar, 167
Morris, James O., 335
Mortgages, See Banking
Moulton, Harold Glen, 251, 292, 313
Murphy, Frank, 253
Murray, “Alfalfa Bill,” 283
Muste, A.J., 201
Myers, William Starr, 187, 209
N
Nash, Gerald D., 219, 275–76, 296
National Agricultural Conference of 1922, 220–21
National Association of Credit Men, 176
National Association of Manufacturers, 201, 204, 250, 266, 272, 278, 281
National Association of Real Estate Boards, 244
National Board of Farm Organizations, 225
National Bureau of Economic Research, 195–96, 206
National Civil Federation, 201
National Coal Association, 284
National Consumers League, 176
National Credit Corporation, 274–76, 285, 296
National Economy League, 290
National Education Association, 176
National Electric Light Association, 212
National Farmer Labor Party, 122
National Farmers’ Union, 244, 308, 310
National Grange, 176, 225, 244, 310
National Housing Conference, 286
National Industrial Conference Board, 205–06
National Monetary Association, 175
National Recovery Act, 207
National Recovery Administration, 277, 280, 323
National Unemployment League, 196
National Wool Marketing Corporation, 232–33
Nebraska, 222, 235, 323
Nebraska Farmers’ Union, 233
Nelson, R.W., 25, 56, 101, 167, 171, 174, 332
Netherlands Bank, 259
New Jersey, 301
New York, 97, 146, 149, 155, 191, 269, 301, 316, 346
New York Federal Reserve Bank, 119, 123–25, 127–29, 132, 144–45, 151–52, 154–55, 158, 164, 166, 173, 240, 258, 260, 263
New York Stock Exchange, 159, 163, 246, 316
Money Committee, 125
Newton, Walter H., 187, 209
Niemeyer, Otto, 179
Non-Partisan League, 191
Norbeck, Peter, 163
Norbeck–Burtness Bill, 226
Norman, Montagu, 144–45, 147–48, 151, 153–55, 164–65, 172, 178–79, 240, 259–60
North Carolina, 269
North Dakota, 235–36, 301
Norway, 152
Noyes, C. Reinold, 167
Nutt, Joseph R., 297
O
Oakwood, John, 269–70
Ogburn, William F., 197
Ohio, 301, 327
Oil, See Petroleum controls
Oklahoma, 283
Olds, Marshall, 201–02
O’Leary, Paul M., 251
Olson, Floyd, 236–37
O’Neal, Edward A., 310
Oregon, 301
Overproduction, See Capital goods
Owen, Robert L., 310
P
Page, Walter Hines, 155
Paley, William S., 273
Palmer, A. Mitchell, 218
Palyi, Melchior, 149
Parker, Governor, 222
Parkinson, Thomas I., 197, 251
Parks, national, 284
Patman, Wright, 309
Patterson, Ernest M., 292, 314
Patterson, S. Howard, 251
Paul, Randolph, 288
Pearson, Frank, 6, 176
Peek, George N., 225, 228, 280
Peixotto, Jessica, 252
Pennsylvania, 266, 301, 327
Pepper, George H., 197
Perkins, Frances, 250
Perlman, Selig, 292
Pershing, John J., 290
Person, H.S., 278
Persons, Warren M., 175, 311, 313
Petroleum controls, 283
Phelps, Clyde W., 94
Philippines, the, 233, 235
Phillips, C.A., 25–26, 32, 56, 60, 101, 120, 167, 171, 174, 314, 332
Phillips, Charles F., 218
Pigou, Arthur Cecil, 176
Pinchot, Gifford, 203
Pittman, Key, 242
Pittman Act of 1918, 117
Planned economy, See Socialism
Poland, 226
Pollak Foundation for Economic Research, 198
Pomerene, Atlee, 297, 307
Population growth, 70
Portugal, 152
Pound, Roscoe, 197
Pratt, Ruth, 155, 197
President’s Conference on Unemployment, 191, 195, 206
Public Works Committee, 193
President’s Emergency Committee for Employment, 335
Price supports, 225
butter, 234
cotton, 232
wheat, 226, 228–30
wool, 233
Prices,
in a free market, 71
stabilization of, 5, 59, 86, 169–81, 198, 206, 220, 233, 309–10, 314
Prochnow, Herbert V., 91
Producers’ goods, See Capital goods
Production, See Consumption; Capital goods
Psychology and business cycles, 80–81
Public works, see also Hoover, Herbert C., 192–93, 195–96, 198, 243, 245, 248, 250, 265, 267, 285, 289, 292–95, 299, 313–14, 322–23, 331
Purchasing power, See Money
Putnam, George E., 140, 270
R
Railroads, 70, 203–04, 210, 286, 297–300, 319, 331, 336
Plumb Plan, 203
Railway Labor Act of 1926, 204
Ramseyer, Christian, 309
Rand, James H., Jr., 175, 309
Ratner, Sidney, 256, 287
Recession, See Depression
Reconstruction Finance Corporation, 219, 276, 285, 295–96, 298–01, 307, 313, 315, 317, 322
Red Cross, 231–32, 271
Rediscount rate, 104–05, 118, 120–24, 137, 139, 156, 161, 165, 215, 240, 262
penalty rate, 118–19, 160 see also Federal Reserve System
Reed, Clyde M., 231
Reed, Harold L., 134, 158, 251
Reeve, Joseph E., 294
Reichsbank, 260
Relief, See Direct relief
Reno, Milo, 235
Republican Party, 189
Reserves, See Banking
Revenue Act of 1932, 286
Reynolds, Jackson E., 240
Richberg, Donald R., 204, 252, 311
Rist, Charles, 144–45, 154–55, 171, 175
Ritchie, Albert C., 327
Robbins, Lionel, 85, 131, 143, 146
Robertson, Sir Dennis H., 38, 173, 176
Robey, Ralph West, 125, 167
Robins, Mrs. Raymond, 197
Robinson, Edgar E., 228
Robinson, Joseph, 275, 296
Robinson, Leland Rex, 316
Robinson, Henry Morton, 163
Rockefeller Foundation, 264
Rogers, James Harvey, 174, 177, 311
Rohlfing, Charles C., 319
Roosevelt, Archibald R., 290
Roosevelt, Franklin D., 186, 189, 195, 217, 234, 266, 280–81, 290, 294, 300, 318, 324, 328–30
Root, Elihu, 175, 290
Rorty, Malcolm C., 174, 294, 310
Rosenwald, Julius, 189, 197, 210, 294
Rosenwald, Lessing J., 309
Rothschild, Louis, 175
Rothschild of Vienna, 257–58
Rovensky, John E., 175
Rumely, Edward A., 309
Ruml, Beardsley, 264
Russia, 231
Ryan, John A., 197, 251, 253, 313
S
Sachs, Alexander, 316
Saloutos, Theodore, 122, 218, 226, 324
Salter, Arthur, 157
Sammons, Robert L., 131, 138
Sapiro, Aaron, 223
Saving, 9, 11, 17, 20, 22, 37–40, 51–52, 60, 63, 66, 68–69, 71, 78, 90, 96, 100, 253, 329, 340 see also Banking
Savings and loan associations, 90, 93, 114
Savings banks, 89, 99–101
Sawyer, D.H., 265
Sayre, Francis B., 251
Scandanavia, 145
Schacht, Hjalmar, 131, 148, 151, 154–55
Schilling, William F., 228
Schlesinger, Arthur M., Jr., 189, 272, 278–79, 282
Schroeder of England, 257
Schultz, Henry, 314
Schumpeter, Joseph A., 3, 70, 72–75, 80
Schumpeterian business cycle theory, 72–75
Schwab, Charles M., 200–01, 205, 239
Schwenning, Gustav T., 251
Scott, W.R., 55
Seager, Henry R., 251
Securities and Exchange Commission, 317
Selden, Richard, 90
Seligman, Edwin R.A., 292, 313
Sellin, Thorsten, 251
Sexauer, Fred H., 309
Shannon, Fred A., 236
Shaviro, Sol, 331–32
Shelby, Donald, 96
Shibley, George H., 177, 310
Shideler, James M., 222, 224
Shientag, Bernard L., 251
Silver, 94, 106, 116–17, 137, 151, 242, 308
Silver, Abba Hillel, 273
Silver, Gray, 224
Simkhovitch, Mary K., 251
Simonds, Alvin T., 310
Simons, Henry C., 292, 314
Simpson, John A., 310
Slichter, Sumner H., 251, 292, 312
Sloan, Alfred P., 211, 308
Smith, Alfred E., 192, 197, 290, 294
Smith, Edwin S., 251, 280
Smith, J. G., 140
Smith, J. Russell, 280
Smith, Vera C., 186
Smoot, Reed, 242, 308
Smoot–Hawley Tariff, 241
Snowden, Philip, 181
Snyder, Carl, 161, 173, 175, 263
Socialism
industrial cartels, 222–24
Socialist Party, 175, 250
Solo, Carolyn Shaw, 74
Soule, George, 251, 266, 280, 292, 294
South America, 132
South Carolina, 223, 269, 275
South Dakota, 235, 323
Speculative demand, 40–41, 49
Sprague, Oliver M.W., 121, 151
Spreckels, Rudolph, 279
Stable Money Association, 209
Stable Money League, 174–75
Stamp, Josiah, 175
Standard Oil, 190, 211, 335
State, Department of, 141–42, 242–43, 319
Steel industry, see also United States Steel, 171, 200–02, 211, 248, 267, 331
Stewart, Walter W., 161
Stimson, Henry, 174, 270
Stine, Oscar C., 234
Stock Growers’ Finance Corporation, 220
Stock market
loans, 76–78, 123–24, 157, 159
crash of 1929, See Depression, stock market crash
Stocking, George W., 283
Stone, James C., 228, 232
Stone, Nahum I., 197, 251
Stone, Nathan J., 192
Strakosch, Henry, 175, 178–79
Straus, Oscar, 189
Strong, Benjamin, 119, 123, 133–34, 138, 143, 145–47, 151, 153–57, 159–62, 164, 172–73, 176–77, 263
Strong, James G., 172, 177
Sugar, 132, 242
Swift, Linton B., 300
Switzerland, 145
Swope, Gerard, 197, 253, 277–78, 282, 323
Swope, Herbert Bayard, 280
T
Taber, Louis J., 290, 310
Taft, William Howard, 174
Tannenbaum, Frank, 251
Tarbell, Ida M., 194
Tariffs, 140, 227, 241, 249–50, 257, 313, 322
Taus, Esther Rogoff, 135
Taussig, Frank W., 189, 242, 251, 292, 313
Taxation
capital gains, 164, 249
during a depression, 22
estate, 286–87
income, 256, 286–87
Taylor, A. Wellington, 316
Taylor, George R., 266
Taylor, J.S., 265
Tead, Ordway, 251, 292
Teagle, Walter C., 211, 273, 308, 335
Teague, C.C., 228
Tennessee Valley Authority, 247
Terborgh, George, 69
Texas, 222, 269, 283
Thomas, Albert, 179
Thomas, Norman, 175, 250, 294
Thompson, Sam H., 228
Thorp, Willard L., 251, 266
Time deposits, See Banking
Time preference, 5, 9–11, 17, 22, 32, 35, 38–40, 52, 69, 71 see also Consumption; Interest rate; Saving
Tippetts, Charles S., 312, 314
Trafton, George H., 199
Traylor, Melvin A., 276
Treasury, U.S., 106–08, 111, 113–14, 116–17, 119, 125, 158, 167, 191, 221, 278, 299, 302, 317, 343
Trust companies, 297
Tucker, Rufus S., 316
Tugwell, Rexford Guy, 280–81
U
Underwood, Oscar W., 174
Unemployment, 14, 19, 23, 29, 41, 43–45, 48–50, 52–53, 87, 179, 185, 192, 199, 239, 243, 250, 260, 267, 269, 282, 293, 311–13, 330, 336
during depression, 44, 211, 333, 335
in Britain, 153
Keynesian prescription for, 40, 42, 45 see also Wages
Unemployment insurance, 20, 196, 200, 253, 266, 271, 315
Unions, 43–44, 48, 150, 200, 203–04, 212, 244, 282, 334–35
United Mine Workers of America, 176, 189, 282
United States Chamber of Commerce, 194, 196, 210, 212, 227, 229, 244, 272, 277, 281
United States Conference of Mayors, 294
United States government, See Government, and names of specific agencies and persons
United States government securities, See Government securities
United States Steel, 190, 200, 202–03, 270
United States Tariff Board, 192
United States Warehouse Act of 1916, 217
Utah, 301
V
Valgren, V.N., 218
Van Buren, Martin, 186
Vandenberg, Arthur H., 235
Vanderlip, Frank A., 309
Vanderlip, Mrs. Frank A., 197
Van Kleeck, Mary, 194–95, 251
Veblen, Thorstein, 78
Veterans,
bonuses, 289–90, 323
loans, 264, 289
Villard, Oswald Garrison, 251
Viner, Jacob, 141, 292, 312, 314
Vissering, G., 178, 259
von Mises, Ludwig, See Mises, Ludwig von
von Windegger, F. R., See Windegger, F.R. von
W
Wages
during a depression, 14, 19, 40, 44, 47, 50, 52–53, 171, 185, 212, 246, 248, 265, 267–70, 293, 331–32, 334–35
government coercion of, 43, 45–46, 202
in Britain
Keynesian theory of, 42, 50
marginal productivity theory applied to, 43
Wager Act, 250–52, 264–65, 293
Wagner, Robert F., 197, 250, 265–66, 272, 292
Wald, Lillian, 194, 251
Walker, Amasa, 28, 34, 36
Wallace, Henry A., 174, 221, 223, 225, 310, 313
Wallace, Henry C., 220, 225
Walrasian system, 66, 69, 70, 73
Walsh, David I., 309
War Finance Corporation, 122, 191, 218–20, 274–75
Warbasse, J.P., 251
Warburg, Felix M., 194
Warburg, Paul M., 127–29, 132, 155–56, 175
Ware, Norman J., 266
Warne, Colston E., 251
Warren, George F., 176
Warren, Harris Gaylord, 141, 189–90, 200, 232, 247, 284, 288, 290, 319
Warren, Robert B., 151, 316
Watkins, Gordon S., 251
Watkins, Myron W., 292
Watkins, Ralph J., 284
Wehle, Louis, 276
Wendt, Paul F., 274
West, Bradford W., 319
Weyforth, William O., 251
Wheat, 132, 223–25, 227, 229, 231, 242, 248, 273
Wheeler, Burton K., 308
White, William Allen, 189, 273
Whitney, A.F., 212, 306
Whitney, George, 163, 274
Whitney, Richard, 246
Whittlesey, Charles R., 312
Wicksell, Knut, 157
Wiggin, Albert H., 249, 274, 317
Wilbur, Ray Lyman, 209, 284
Willcox, W.F., 292
Williams, Carl, 228
Williams, John H., 315
Williams, John Skelton, 121
Willis, H. Parker, 76, 118, 121, 132, 135, 150, 156, 167, 175, 248, 314, 327
Willits, Joseph H., 197, 251, 264, 295, 312
Willoughby, William F., 251
Wilson, Charles S., 228
Wilson, Huntington, 174
Wilson, William B., 189
Wilson, Woodrow, 117, 137, 174, 189, 192–94, 219
Winant, John G., 174, 197
Windegger, F.R. von, 325
Wisconsin, 196, 235–36, 323
Wise, Stephen S., 194
Witte, Edwin E., 251, 292
Woll, Matthew, 195, 212, 251, 273, 277
Wolman, Leo, 194–95, 205, 253, 264, 266–68, 312
Wood, Robert E., 309
Woodhouse, Chase Going, 251
Woods, Arthur, 246–47, 253
Wool, 224, 232, 248
Woolley, Clarence, 195
Work hours, See Hours of labor
World War I, 279, 328
World War II, 45
Wright, C.W., 314
Wright, Ivan, 311, 314
Wright, Quincy, 313
Wyatt, Walter, 275
Wyoming, 269
Y
Yellen, Samuel, 202
Yntema, Theodore O., 314
Yoder, Dale, 333
Young, Allyn A., 175, 181
Young, Owen D., 175, 189, 195, 211, 273, 278, 294
Young, Roy, 163, 240
