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1、AHISTORYOFTHEFEDERALRESERVEallanh.meltzerahistoryoftheFederalReservevolume1,1913–1951withaforewordbyalangreenspantheuniversityofchicagopress•chicagoandlondonAllanH.MeltzeristheAllanH.MeltzerUniversityProfessorofPoliticalEconomyatCarnegieMellonUniversityandVisitingScholarattheAmericanEnterpriseInst
2、itute,Washington,D.C.Heistheauthororcoauthorofseveralbooks,mostrecentlyMoney,Credit,andPolicy,andservedonthePresident’sCouncilofEconomicAdvisersfrom1988to1989.TheUniversityofChicagoPress,Chicago60637TheUniversityofChicagoPress,Ltd.,London©2003byTheUniversityofChicagoAllrightsreserved.Published2003
3、PrintedintheUnitedStatesofAmerica1211100908070605040312345ISBN:0-226-51999-6(cloth)LibraryofCongressCataloging-in-PublicationDataMeltzer,AllanH.AhistoryoftheFederalReserve/AllanH.Meltzer.p.cm.Includesbibliographicalreferencesandindex.Contents:v.1.1913–1951—ISBN0-226-51999-6(v.1:alk.paper)1.Federal
4、Reservebanks.2.BoardofGovernorsoftheFederalReserveSystem(U.S.)I.TitleHG2563.M3832003332.110973—dc212002072007oThepaperusedinthispublicationmeetstheminimumrequirementsoftheAmericanNationalStandardforInformationSciences—PermanenceofPaperforPrintedLibraryMaterials,ANSIZ39.48-1992.ToMarilyncontentsF
5、oreword,AlanGreenspanixPrefacexi1Introduction12CentralBankingTheoryandPracticebeforetheFederalReserveAct193IntheBeginning,1914to1922654NewProcedures,NewProblems,1923to19291375WhyDidMonetaryPolicyFailintheThirties?2716IntheBackseat,1933to19414157UnderTreasuryControl,1942to19515798Conclusion:TheFirs
6、tThirty-sevenYears725References747DataSources761Index765forewordAllanMeltzer,whoundertakesprojectsthattomostappeardaunting,hasdelveddeeplyintothehistoryoftheFederalReserveSystem,witharesultthatwilladdsubstantiallytothediscourseontheinstitution’sroleandde-velopment.Hehasreviewedtherecordsofpolicydi
7、scussionatanextraor-dinarylevelofdetail,andhisanalysisilluminatesthecontributionsofthemanyfascinatingindividualswhoshapedtheFederalReserveSystemweknowtoday.Beginningwithahistoryofdevelopmentsthatunderlaytheinitia
