LEADER 04209nam 2200685 450 001 9910464286303321 005 20211002004728.0 010 $a1-4008-5166-1 024 7 $a10.1515/9781400851669 035 $a(CKB)3710000000096250 035 $a(EBL)1651881 035 $a(OCoLC)875819054 035 $a(SSID)ssj0001213381 035 $a(PQKBManifestationID)11692052 035 $a(PQKBTitleCode)TC0001213381 035 $a(PQKBWorkID)11253068 035 $a(PQKB)10483225 035 $a(MiAaPQ)EBC1651881 035 $a(DE-B1597)453661 035 $a(OCoLC)875447923 035 $a(OCoLC)979758915 035 $a(DE-B1597)9781400851669 035 $a(Au-PeEL)EBL1651881 035 $a(CaPaEBR)ebr10853267 035 $a(CaONFJC)MIL586193 035 $a(EXLCZ)993710000000096250 100 $a20140412h20072007 uy 0 101 0 $aeng 135 $aurnn#---|u||| 181 $ctxt 182 $cc 183 $acr 200 10$aWhen Washington shut down wall street $ethe great financial crisis of 1914 and the origins of America's monetary supremacy /$fWilliam L. Silber 205 $aCourse Book 210 1$aPrinceton, New Jersey ;$aOxfordshire, England :$cPrinceton University Press,$d2007. 210 4$dİ2007 215 $a1 online resource (233 p.) 300 $aDescription based upon print version of record. 311 0 $a0-691-13876-1 320 $aIncludes bibliographical references and index. 327 $tFront matter --$tContents --$tAcknowledgments --$tIntroduction. The Legacy of 1914 --$tCHAPTER ONE. The Opening Salvo --$tCHAPTER TWO. The European Gold Rush --$tCHAPTER THREE. The Nightmare of 1907 --$tCHAPTER FOUR. Unlocking Emergency Currency --$tCHAPTER FIVE. Sterling Steals the Spotlight --$tCHAPTER SIX. New Street Defies McAdoo --$tCHAPTER SEVEN. Rescue --$tCHAPTER EIGHT. End Game --$tCHAPTER NINE. Birth of a Financial Superpower --$tEPILOGUE. Blueprint for Crisis Control --$tNotes --$tReferences --$tIndex 330 $aWhen Washington Shut Down Wall Street unfolds like a mystery story. It traces Treasury Secretary William Gibbs McAdoo's triumph over a monetary crisis at the outbreak of World War I that threatened the United States with financial disaster. The biggest gold outflow in a generation imperiled America's ability to repay its debts abroad. Fear that the United States would abandon the gold standard sent the dollar plummeting on world markets. Without a central bank in the summer of 1914, the United States resembled a headless financial giant. William McAdoo stepped in with courageous action, we read in Silber's gripping account. He shut the New York Stock Exchange for more than four months to prevent Europeans from selling their American securities and demanding gold in return. He smothered the country with emergency currency to prevent a replay of the bank runs that swept America in 1907. And he launched the United States as a world monetary power by honoring America's commitment to the gold standard. His actions provide a blueprint for crisis control that merits attention today. McAdoo's recipe emphasizes an exit strategy that allows policymakers to throttle a crisis while minimizing collateral damage. When Washington Shut Down Wall Street recreates the drama of America's battle for financial credibility. McAdoo's accomplishments place him alongside Paul Volcker and Alan Greenspan as great American financial leaders. McAdoo, in fact, nursed the Federal Reserve into existence as the 1914 crisis waned and served as the first chairman of the Federal Reserve Board. 606 $aCurrency crises$zUnited States$vCase studies 606 $aCurrency question 606 $aWorld War, 1914-1918$xFinance 606 $aGold standard 608 $aElectronic books. 615 0$aCurrency crises 615 0$aCurrency question. 615 0$aWorld War, 1914-1918$xFinance. 615 0$aGold standard. 676 $a332.0973/09041 700 $aSilber$b William L.$0284267 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464286303321 996 $aWhen Washington shut down wall street$92488984 997 $aUNINA