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When Washington Shut Down Wall Street
The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy
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Set against the backdrop of World War I, the narrative reveals Treasury Secretary William Gibbs McAdoo's battle to avert a financial catastrophe. With a significant gold outflow jeopardizing the U.S. economy and fears of abandoning the gold standard causing the dollar to drop, the country faced a dire situation. Lacking a central bank, the U.S. appeared vulnerable, akin to a headless giant. The story unfolds like a mystery, highlighting McAdoo's strategic maneuvers to stabilize the nation's finances during a tumultuous period.
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When Washington Shut Down Wall Street, William L. Silber
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- 2008
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