America's Bank: The Epic Struggle to Create the Federal Reserve (53 page)

National City Co.,
134
–37

National Monetary Commission,
79
,
88
,
94
,
97
,
104
,
106
,
120
,
134
,
141
,
144
,
287
,
302
,
305

Aldrich Plan as report of,
147
–48,
269

National Reserve Association,
113
–15,
118
,
122
–23,
140

banking industry and,
130
–31

governor and directors of,
114
,
130
–31,
140
,
141
,
188
–89,
199

location of,
114

notes of,
133

political influence avoided by,
115

public accountability of,
141

state banks,
129

nativism,
22
,
230

natural law,
25

Nebraska,
22
,
81
,
157
,
165
,
170
,
231
,
236

New Deal,
264
,
266

New England,
98

textile industry in,
93

“New Nationalism” speech (Roosevelt),
293

New Orleans, La.,
53
,
131
,
139
–40

Newport, R.I.,
37
,
78
,
199

New York, N.Y.,
47
,
63
,
82
,
85
,
88
,
98
,
132
,
144
,
201
,
216
,
236
,
299
,
304

banking dominated by,
314

banking reform in,
60

banks and bankers in,
5
,
7
,
12
,
49
–50,
54
–56,
68
,
113
,
135
,
141
,
186
,
193
,
220
,
229
,
252

banks vs. trusts in,
61
–62,
69

cash shortage in,
65

as central reserve city,
14
,
39
n
,
69
,
231

city banks in,
26
,
30
,
39

corporate headquarters in,
50

Federal Reserve Bank of,
257
,
258
–59,
260
–61

financiers in,
17

money market in,
60
–61

National Banking Act and,
14
–15

Panic of 1907 and,
99

run on safe-deposit boxes in,
68

subways in,
62

suffragettes in,
156

Warburg in,
31

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

monetary committee of,
119
–20

New York Clearing House,
61
,
62
–63,
193
–94,
283

loan certificates from,
66
–67

New York State,
95
,
166
,
231
,
245

New York Stock Exchange,
65
,
193
,
198
,
260

New York Sun
,
214

New York Superintendant of Banking,
284

New York Times
,
42
n
,
56
,
58
,
62
,
63
,
66
,
73
,
120
,
122
–23,
133
,
143
,
156
,
198
,
214
,
219
,
222
,
252
–53,
266
,
286
,
323
,
332

New York Tribune
,
36
,
252
,
332

Nixon, Richard,
257
,
259

North,
17

central bank supported in,
4

tariff supported in,
37

North Carolina,
229

Northeast:

capital in,
242

Roosevelt’s support in,
168

strong dollar and,
18

Northern Pacific Railway,
28

Norway,
93

notes:

Bank of England,
83
,
84
,
86
–87

credit and,
200

federal government,
205

issuing of,
83

Reichsbank,
87

Reserve Banks’,
205

Noyes, Alexander D.,
29

O’Gorman, James,
231
,
236
,
238
–39,
242
,
327
,
328

Ohio,
162

Oklahoma,
81
–82,
200
,
204

Oklahoma Territory,
19
,
203
–4

Omaha World-Herald
,
236

Open Market Investment Committee,
264

Other People’s Money and How the Bankers Use It
(Brandeis),
193
n

Owen, Robert Latham,
19
,
200
,
263
,
319
,
323
,
328

background of,
203
–4

banking bill and,
203
,
205
,
207
–9,
212
–13,
217
–18,
227
,
241

as Bryan disciple,
200
,
204
,
205

European study tour of,
204

Glass’s feud with,
266
–67,
268

as progressive,
205

Warburg and,
243
,
248
,
334

Owen bill,
205

Page, Walter Hines,
197

Palmer, James E., Jr.,
335

Panama Canal,
47
,
234

Panic of 1893,
19
–21,
57
,
60
,
204

Panic of 1907,
57
–58,
59
–76,
77
–79,
81
,
99
,
101
,
133
,
139
,
150
–51,
269
,
319

paper money,
11
–13,
16
,
114

see also
specific types

Paris,
31
,
49
,
51
,
78
,
86
,
140
,
209
,
265

Parliament, British,
84
,
166
,
168
,
241

Paul, Ron,
296

Payne-Aldrich tariff,
95
,
103

Peary, Robert,
93

Peck, Mary Allen Hulbert,
163
,
166
,
214
,
233
,
246
,
325

Peel, Sir Robert,
85
–86

Pennsylvania,
158

pensions,
100
,
199

Perkins, George W.,
58
,
60
–61,
64
,
73
,
78
,
80
,
104

in Roosevelt’s 1912 campaign,
169
,
305
,
308

Perry, Marsden J.,
42

personal checks,
49

Philadelphia, Pa.,
5
n
,
49
,
120

Bank of the United States in,
2
–4

banks in,
12
,
68

Federal Reserve Bank in,
260
n

Philippines,
91

Phillips, David Graham,
43
–44

“Plan for a Modified Central Bank, A” (Warburg),
75
–76,
286

populism, populists,
21
,
44
,
71
,
128
,
137
,
143
,
185
,
205
,
221
,
232

monetary,
230

Portland, Oreg.,
67
,
69

pound, British:

as international currency,
49

strength of,
85

Pound, Ezra,
117

press:

on Aldrich,
33
–34,
44
,
120
,
122
–23,
133
,
134
,
140

on Aldrich Plan,
134

Citizens’ League and,
160

on Federal Reserve System,
252
–53

on Glass bill,
214

muckraking,
43
–44

progressivism and,
100

Untermyer and,
310

Wilson’s campaign and,
157

prices:

falling,
18
,
246

wholesale,
330

primary elections,
100
,
138
,
143

in 1912,
157

Princeton, N.J.,
145
,
170
,
181
,
184
,
252

Princeton University,
23
,
45
,
83
,
142
,
143
,
166
,
250
–51

profits, Reserve Association and,
115

Progressive Party,
167

progressives,
6
–7,
41
,
44
–45,
205
,
237

accountability to public of,
140
–41

Aldrich disliked by,
89
,
140

on banking,
71

banking reform and,
45
,
138
,
147

in Democratic Party,
99
,
132
,
133
,
148
,
156
–57,
165
,
191
,
204

gathering strength of,
90

growing prominence of,
127

income tax and,
234

La Follette as member of,
72
,
140

in 1912 election,
156

public control of financial institutions and,
115
,
128

rejection of central bank by,
104
,
123
,
238

Republican,
92
–93,
95
,
96
,
99
–100,
103
,
104
,
105
,
138

Wilson and,
307

promissory notes,
39

Providence, R.I.,
34
,
35
,
42
n
,
68

Pujo, Arsène,
152
,
155
,
172
,
302

Pujo hearings,
see
Money Trust inquiry

Pujo Report,
314

Pulitzer, Joseph,
110

Pullman strike of 1894,
21

quantitative easing,
259

racial segregation,
22
,
153
,
156
,
204

Ragsdale, James,
222

railroads,
40
,
67
,
70
,
81
,
211

bonds for,
15
,
41
,
78

consolidation of,
73
,
176

failure of,
20

financing of,
32
,
33

public resentment toward,
78

rate fixing by,
288

regulation of,
21
,
34
,
38
,
74
,
100

stocks in,
58

railways, street,
42
n
,
190

Raleigh News and Observer
,
157

Ravenscroft, D. W.,
97

real bills theory,
24
,
226
n
,
258

real estate,
17
,
140

recession,
20
–21,
258

Recession, Great,
259

Recession of 1907,
58
–59

rediscounting,
331

Reed, James,
231
,
236
,
266
,
327
,
328

reform,
73
–74

major twentieth-century financial reforms,
266

see also
banking reform; currency reform; labor reform; monetary reform

regional reserve banks,
97
,
101
,
137
,
149
,
154
,
177
,
181
–82,
184
,
185
–87,
227
,
229
,
242
,
267
,
311

Reichsbank,
57
,
85
,
87
,
214

discounting by,
87

Republican National Committee,
162

Republican National Convention, of 1912,
159
,
160

Republican Party,
48
,
72
,
78
,
137
,
169
,
191
,
235
,
236
,
239
,
245
,
248
,
265

Aldrich Plan and,
137
–38,
150
,
160
,
161
–62

central bank and,
6
–7

Democratic shift to left of,
168