Economics and the Public Welfare. Benjamin M. Anderson

Depression and Rally of 1924—The Beginning of the New Deal 17. Money, Bank Credit, and Capital 18. The Extent of Bank Expansion, 1922-28 [print edition page 6] 19. The Causes of and the Responsibility for the Excess Reserves 20. Germany, 1924-28 21. France, 1925-26 22. Great Britain, 1925-27 23. The De Facto Stabilization of the Franc, and the Gold Exchange Standard 24. The Consequences of the Cheap Money Policy in the United States Down to the Summer of 1927 25. The Conference of Governors and the Intensification of Cheap Money, 1927 26. The Stock Market Boom, 1927-29 27. Mob Mind in 1928-29 28. The Effect on Europe of Tight Money in the United States in 1929 29. The “New Era,” and the Precautions of the Commercial Banks in New York 30. The Stock Market Crash of 1929 31. The New Deal in 1929-30 32. Late 1930—Hitler Gains; Bank of United States Crashes 33. The Tragic Year—1931 34. 1931 Continued—England’s Abandonment of the Gold Standard 35. The Year 1931 Continued—The First Foreign Run on the Gold of the United States 36. The Year 1932 37. The Upturn in the Summer of 1932—Five Favorable Developments 38. The Impact of Politics on the 1932 Revival 39. The Banking Holiday 40. The Intergovernmental Debts PART IV: THE NEW DEAL IN MATURITY, 1933-39 41. “My Father Also Chastised You with Whips, but I Will Chastise You with Scorpions” 42. The Reopening of the Banks 43. The Mortality Among Small Banks 44. Branch Banking Versus Unit Banking 45. Roosevelt’s Abandonment of the Gold Standard 46. The Banking Act of 1933—Extreme Reform Bill, Not New Deal Measure 47. Contradictory Policies 48. The National Industrial Recovery Act [print edition page 7] 49. The London Economic Conference, 1933 50. The Strong Business Rally, March-July 1933—Turns Downward with NRA 51. More Money Magic—The Gold-Buying Program 52. The Gold Reserve Act of 1934 53. The Spending Program 54. The Silver Legislation of 1934 55. Government Confusion, Government Hostility, and Private Enterprise 56. Supreme Court Decision on Gold Clauses, February 1935 57. First Successful Resistance to New Deal—Banking Act of 1935 58. Taxation Under the New Deal—The Redistribution of Wealth 59. The Undistributed Profits Tax of 1936 60. Digression on Keynes 61. Gold, Excess Reserves, and Money Rates, 1934-41 62. Gold Remains Standard of Value 63. The British Equalization Account, the American Stabilization Fund, and the American Sterilization Fund 64. The Tyranny