America's Bank: The Epic Struggle to Create the Federal Reserve (49 page)

middle-tier,
see
middle-tier banks

national,
see
national banks

under National Banking Acts,
14
–15

New York,
see
New York, banks and bankers in

northern,
17

number of,
31
,
135
,
193
,
278
–79,
314

private,
3
,
7
–8,
48
n
,
63
,
121
–22,
185
,
195
,
228
n

progressives on,
71

public control of,
115
,
128

public oversight of,
148

regional,
149

Reserve Banks and,
181

reserve network,
101
,
311

reserves of,
39
,
70
,
321
,
325

self-regulation for,
119

shortfall by,
225

state,
see
state banks

Treasury loans to,
27
,
41

Barney, Charles T.,
62
–63,
283

barter,
67

Baruch, Bernard,
308

baseball,
156

Bear Stearns,
62

Belmont, August, Jr.,
165
n

Berlin,
49
,
57
,
86
,
88
,
140

Bermuda,
171

Bernanke, Ben,
25
,
188
,
258
,
296

Big Business, progressive skepticism toward,
45

bills of lading,
226

bills of trade,
32
,
39

discounting of,
87
,
226

bimetallic system,
16
,
19
–20,
230
,
277

Blankfein, Lloyd,
122
,
257

Board of Trade, British,
96

see also
National Board of Trade

bonds,
24
,
188

government,
14
,
24
,
75
,
78
,
114
,
212
,
217
,
220
,
225
,
258
,
277
,
321

railroad,
15
,
41
,
78

Boston, Mass.,
53
,
156
,
159

banks in,
12
,
68

Federal Reserve Bank in,
260
n

Boston Daily Globe
,
332

Brandeis, Louis,
169
,
190
,
193
,
211
–12,
313
–14

Brandt, T. R.,
97

Brazil,
93

“Breaking the Money Trust” (Brandeis),
193

Bristow, Joseph L.,
103
,
237

Brown, William Garrett,
144
,
145

Broz, J. Lawrence,
281
,
289

Bryan, Nathan,
211

Bryan, William Jennings,
81
,
88
,
187
,
201
,
221
–22,
225
,
235
,
236
,
321

Aldrich Plan opposed by,
137
,
148
,
161
,
164
–65,
174

on banking bill,
205
–7,
210
,
212
,
217
,
218
,
219
,
227
–28,
230

“cross of gold” speech of,
23
,
142

in election of 1896,
22
–24,
142
,
204
,
301

on government-issued money,
128
,
185
,
200
,
204
,
213
–14,
252
,
323

on Money Trust hearings,
151

at 1912 Democratic National Convention,
164
–66,
307

populism of,
44
,
143
,
199
,
206

as secretary of state,
189
–90

in Wilson administration,
170

Wilson’s requests for support by,
145
–46,
148
–49,
157
,
301

Bulkley, Robert,
212

Burns, Arthur,
257

Business Men’s Monetary Reform League,
123

see also
National Citizens’ League

Butler, Nicholas Murray,
55
,
90

Butt, Archie,
159

California,
68
,
157

women’s voting in,
156

call loans,
65

call money,
58

campaign contributions,
22
,
23
–24

Canada, gold rush in,
26

Cannon, Joe,
38

capital,
237

banking,
70

flows of,
264

international,
57

capitalism,
53
,
73
,
199

capitalization,
137

Carlisle, John,
24
–25

car loans,
1

Carnegie, Andrew,
169

cash reserves,
69

cash substitutes,
67
–68

central bank(s),
3
–4,
17
,
19
,
50
–51,
117
–18,
183
,
199
,
228
n
,
231
,
236
,
237
,
252
,
261

ABA support for,
228
,
229
n

Aldrich Plan’s differences from,
113
,
122
–23,
140

America wary of,
41
,
132
,
241

bankers’ lobbying for,
311

Bryan’s opposition to,
164
–65

customers of,
185

European,
1
–2,
30
,
39
,
54
,
56
,
74
,
83
,
86
,
111
,
114
,
185
,
204
,
269

federal structure of,
112
–13

founders and,
141

and frontier traditions,
101
–2

Gage’s call for,
28

government-owned,
206

industrialized nations and,
1
,
2
,
19
,
264

in legislative proposals,
177

“modified,”
74
,
101

opposition to,
2
–8,
18
,
19
,
20
,
32
–33,
140

privately managed,
71
,
119

as progressive idea,
104

Reserve Association and,
122
–23

Reserve System and,
217
–18

Vanderlip’s support for,
220
–21,
238
–43

Warburg’s call for,
6
–7,
31
–33,
47
,
56
,
71
,
75
–76,
77
,
88
–89,
99
,
109
,
120
,
128
,
184
,
185
,
217
–18,
242
,
253
,
262
,
269
–70,
295

Wilson on,
7
,
141
–44,
149
,
157
,
170
,
174
n
,
183
–84,
312

see also
South, central bank opposed in; United States, centralization feared by

central bank notes,
112

central bank of issue,
49

central government, opposition to,
1
–4,
8

central reserve city banks,
14
–15,
26
–27,
39
n
,
182
,
248
n
,
311

Chamber of Commerce, New York,
46
–51,
121
n
,
123
,
281

Chamber of Commerce, U.S.,
229
,
248

Glass-Owen endorsed by,
235

Charlotte Daily Observer
,
229

Chase, Salmon P.,
13
–14

Chase Manhattan,
258
,
265

Chase National Bank,
37
,
184

check clearing,
39
–40,
41
,
114

checks, personal,
49

Chernow, Ron,
30

Chicago, Ill.,
21
,
85
,
88
,
95
,
97
,
123
,
131
,
140
,
219
,
321

bankers in,
53
,
54
–55,
121
,
129
,
173
,
184
,
186
,
216
,
229

central bank accepted by,
184

Federal Reserve Bank in,
260
n

Republican convention in,
159
,
161
–63

as reserve city,
14
,
39
n
,
69
,
218
–19,
241

Chicago, University of,
25
,
121
,
131

Chicago Tribune
,
13

child labor,
104

China,
49

Churchill, Winston,
96
,
117

city banks, central reserve,
see
central reserve city banks

Civil War, U.S.,
6
,
7
,
17
,
32
,
34
,
44
,
68
,
92
,
180
,
201
,
219
,
246
,
251
,
304
,
330

banking chaos during,
12
–13,
16

banking structure from,
20
,
47

Democratic Party since,
156

tariffs in wake of,
36

Clark, Champ,
148
,
157
,
165
–66,
215

Clayton Antitrust Act (1914),
229
n

clearinghouses,
41
,
67
,
68
,
74
,
113
,
186
,
284
,
310

Cleveland, Grover,
18
–21,
24
,
277

as “gold Democrat,”
16

Cleveland, Ohio, Federal Reserve Bank in,
260
n

Coin’s Financial School
(Harvey),
21

Columbia University,
55
,
90
,
94
,
155

banking lectures at,
73
,
286

Coming Battle, The
(Walbert),
27

commercial banks,
122

Commercial Club of St. Louis,
98

commercial loans, discount of,
237

commercial paper,
39
,
79
n
,
112
,
225
,
226
,
258
,
262

discounting of,
226
,
262

comptroller of the currency,
212
,
220
,
241
,
250

Conant, Charles A.,
310
,
330

Congress, U.S.,
22
,
55
,
73
,
74
,
194

Aldrich Plan and,
141

bank credit and,
222

bank reform in,
46
,
310

continuing debates over Federal Reserve in,
257

currency bill in,
58

failure of Bank of the United States rechartering by,
3

Glass bill debated in,
193

gold standard and,
16

hearings in,
128

monetary reform shifted to,
127
–28

National Banking Acts in,
13

progressives in,
116

response to Panic of 1907 in,
77
–79

Second Bank of the United States chartered by,
3

sectionalism in,
307

silver dollars and,
16

silver-purchase act and,
19
,
20

special session of,
234
–35

Third Bank legislated,
3

Congressional Government: A Study in American Politics
(Wilson),
142
n

conservation,
158

Constitution, U.S.,
73

Sixteenth Amendment to,
191

Seventeenth Amendment to,
156
,
201

Continental National Bank of Chicago,
85

Cooke, Jay,
12
,
15

Cooper, John Milton,
194

copper mining,
61

corporate mergers,
33

corporate underwriting,
175

corporations,
44
,
50

banking and,
41

capital and,
18

debt of,
1

greed of,
73

regulation of,
90
,
100
,
138

Cortelyou, George,
58
,
59
–60,
63
,
66
,
69