Tallman, “Personal but not a main Bank: The fresh new York Clearing Domestic and you may Affairs regarding Cleaning Home Mortgage Certificates,” into the Newest Federal Put aside Coverage Within the Contact lens of Financial History
Select Gorton and you can Tallman (2015) to own a dialogue of one’s character out of gold inflows when you look at the panics in the 1893 and 1907. Look for as well as Odell and you may Weidenmier (2004), Rodgers and you can Payne (2014), and you may Rodgers and Wilson (2011).
Select Gorton (2010, 2012) towards the complete description out of their way of monetary crises. This new conversation significantly more than is actually all of our type of them objections.
National banking institutions remain managed from the Workplace of your Comptroller of your own Money, an agency of one’s You Agencies of the Treasury. This new regulatory structure was not designed to intervene while in the drama. Interventions of the United states Treasury, but not, took place in a lot of pre-Given panics. The brand new Treasury was not guided because of the specific controls. Instead, it was directed of the intuition of your own current secretary out of the fresh new Treasury, particularly Leslie Shaw. Pick Taus (1943) and Timberlake (1993).
Bernanke, Ben S. “Nonmonetary Effects of the latest Overall economy from the Propagation of your own Higher Anxiety.” American Economic Opinion 73, zero. step three (Summer 1983): 257-76.
Fohlin, Caroline, Thomas Gehrig, and you will Marlene Haas. “Gossip and you may Works inside Opaque Avenues: Proof in the Panic of 1907.” Unpublished manuscript, 2015,