Competing Visions For The U.S. Monetary System, 1907-1913: The Quest For An Elastic Currency And The Rejection Of Fisher'S Compensated Dollar Rule For Price Stability
AbstractThis paper surveys the banking reform debates in the United States among quantity theorists and their opponents in the years from the banking panic of 1907 through the publication of Irving Fisher's The Purchasing Power of Money (with Harry G. Brown) to the creation of the Federal Reserve System. These debates culminated in the rejection of Fisher's compensated dollar proposal (a price level rule varying the dollar price of gold to stabilize a price index) and the adoption of a very different vision of central banking. Particular attention is paid to the contributions of Fisher, David Kinley, J. L. Laughlin, R. L. Owen, O. M. W. Sprague, and H. Parker Willis.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by L'Harmattan in its journal Cahiers d'économie Politique.
Volume (Year): (2003)
Issue (Month): 45 ()
Contact details of provider:
Web page: http://www.cahiersdecopo.fr/fr/
Postal: 142 rue du faubourg Saint-Martin. 75010 Paris, France.
Find related papers by JEL classification:
- B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Gomez Betancourt, Rebeca & de Boyer des Roches, Jérôme, 2012. "Origins and Develoment of Irving Fisher’s Compensated Dollar Plan," Economics Papers from University Paris Dauphine 123456789/10190, Paris Dauphine University.
- Bordo, Michael D. & Rockoff, Hugh, 2013.
"The Influence Of Irving Fisher On Milton Friedman’S Monetary Economics,"
Journal of the History of Economic Thought,
Cambridge University Press, vol. 35(02), pages 153-177, June.
- Michael D. Bordo & Hugh Rockoff, 2011. "The Influence of Irving Fisher on Milton Friedman’s Monetary Economics," NBER Working Papers 17267, National Bureau of Economic Research, Inc.
- David Laidler & Roger Sandilands, 2010.
"Harvard, the Chicago Tradition, and the Quantity Theory: A Reply to James Ahiakpor,"
History of Political Economy,
Duke University Press, vol. 42(3), pages 573-592, Fall.
- David Laidler & Roger Sandilands, 2010. "Harvard, the Chicago Tradition and the Quantity Theory: A Reply to James Ahiakpor," UWO Department of Economics Working Papers 20104, University of Western Ontario, Department of Economics.
- Rebeca, Gomez Betancourt & de Boyer des Roches, Jérôme, 2011. "American Quantity Theorists prior to Irving Fisher’s Purchasing Power of Money," Economics Papers from University Paris Dauphine 123456789/10195, Paris Dauphine University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carlos Andrés Vasco Correa).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.