Banking Panics of the Great Depression Book

	List of figures
	List of tables
	Preface
1	The banking situation in the United States, 1921-33	1
	States of the economy, 1921-9 and 1930-3	3
	The incidence of bank suspensions	5
	Financial condition of US banks: 1921-9 and 1930-3	8
	Definitions, characteristics and theories of banking panics	17
	Banking panics of the Great Depression: an overview	19
2	The banking crisis of 1930	24
	The geographical incidence of the banking crisis of 1930	25
	The microhistory of the banking crisis	32
	Interest rates and the banking crisis of 1930	32
	Expenditure effects of the banking crisis	42
	The banking crisis as a cause of the Great Depression	46
	The role of the Federal Reserve in the banking crisis	52
	What should the Fed have done?	57
3	The two banking crises of 1931	62
	The region specific second banking crisis: April-August 1931	66
	The third banking crisis: September-October 1931 - two crises contrasted	72
	Mini panics in Philadelphia, Pittsburgh, and Chicago	78
	The gold crisis: Britain's departure from the gold standard and the Fed's response	86
	Was there something special about the 1931 banking crisis?	97
	Role of the 1931 crises in contributing to the Great Depression	99
4	The banking panic of 1933	108
	The long pause between financial storms: 1932	110
	The gathering storm	116
	The external drain	129
	Money and capital markets during the panic	132
	The Fed's response to the gathering storm	134
	Expenditure effects of the 1933 panic	138
	Did the 1933 panic resemble pre-1914 panics?	141
	The resolution of the banking panic	145
5	Banking crises of the Great Depression: a reassessment	151
	The geographical incidence of banking crises	152
	Did the banking crises of the Great Depression differ from pre-1914 panics?	154
	Did bank failures cause the Great Depression?	159
	The role of gold during banking panics	161
	Causes of bank suspensions: random withdrawals or asset shocks?	162
	References	166
	Index	171