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Article: "Quis Custodiet Ipsos Custodes?" The Federal Reserve System's Founding Fathers and Allied Finances in the First World War

Title"Quis Custodiet Ipsos Custodes?" The Federal Reserve System's Founding Fathers and Allied Finances in the First World War
Authors
Issue Date1998
PublisherHarvard Business School Publishing. The Journal's web site is located at http://www.hbs.edu/bhr
Citation
Business History Review, 1998, v. 72 n. 4, p. 585-620 How to Cite?
AbstractThe First World War presented the newly formed Federal Reserve System with issues that were crucial in defining its future institutional character and operational strategies and priorities. From 1914 to 1917 disputes over the relationship between the U.S. and belligerent European nations divided competing groups of New York bankers who had helped to create the Federal Reserve System and who otherwise shared many of the same objectives for its future purpose and functions. These divisions grew particularly acrimonious over policies concerning acceptances, a new financial instrument that could substantially affect the Allied powers' ability to obtain war funding in the United States. Despite these wartime splits, the rival financial groups, led by Benjamin Strong and Paul M. Warburg, generally concurred in assigning a higher priority to the international implications of Federal Reserve policies than to domestic consequences. Likewise, after the war both united in using the Federal Reserve System to facilitate Europe's economic recovery.
Persistent Identifierhttp://hdl.handle.net/10722/179476
ISSN
2015 Impact Factor: 0.634
2015 SCImago Journal Rankings: 0.291
References

 

DC FieldValueLanguage
dc.contributor.authorRoberts, Pen_US
dc.date.accessioned2012-12-19T09:57:52Z-
dc.date.available2012-12-19T09:57:52Z-
dc.date.issued1998en_US
dc.identifier.citationBusiness History Review, 1998, v. 72 n. 4, p. 585-620en_US
dc.identifier.issn0007-6805en_US
dc.identifier.urihttp://hdl.handle.net/10722/179476-
dc.description.abstractThe First World War presented the newly formed Federal Reserve System with issues that were crucial in defining its future institutional character and operational strategies and priorities. From 1914 to 1917 disputes over the relationship between the U.S. and belligerent European nations divided competing groups of New York bankers who had helped to create the Federal Reserve System and who otherwise shared many of the same objectives for its future purpose and functions. These divisions grew particularly acrimonious over policies concerning acceptances, a new financial instrument that could substantially affect the Allied powers' ability to obtain war funding in the United States. Despite these wartime splits, the rival financial groups, led by Benjamin Strong and Paul M. Warburg, generally concurred in assigning a higher priority to the international implications of Federal Reserve policies than to domestic consequences. Likewise, after the war both united in using the Federal Reserve System to facilitate Europe's economic recovery.en_US
dc.languageengen_US
dc.publisherHarvard Business School Publishing. The Journal's web site is located at http://www.hbs.edu/bhren_US
dc.relation.ispartofBusiness History Reviewen_US
dc.title"Quis Custodiet Ipsos Custodes?" The Federal Reserve System's Founding Fathers and Allied Finances in the First World Waren_US
dc.typeArticleen_US
dc.identifier.emailRoberts, P: proberts@hku.hken_US
dc.identifier.authorityRoberts, P=rp01195en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-0032283047en_US
dc.identifier.hkuros39501-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0032283047&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume72en_US
dc.identifier.issue4en_US
dc.identifier.spage585en_US
dc.identifier.epage620en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridRoberts, P=8765197900en_US

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