EMERGENCY CURRENCY AND THE 1914 BANKING CRISIS: IMPLICATIONS FOR FINANCIAL DEREGULATION
DONALD R. WELLS
(Economics Department, Memphis State University)
L.S. SCRUGGS
(FIR Department, Memphis State University, Memphis Tennessee)
85
Abstract
Professor Richard Timberlake (1984) recently suggested that the Federal Reserve System (Fed) was made unnecessary by the clearinghouse loan certificate (CLOC). This paper presents evidence that the Fed was rendered unnecessary by Aldrich‐Vreeland Act Currency (AVAC).
Citation
WELLS, D.R. and SCRUGGS, L.S. (1986), "EMERGENCY CURRENCY AND THE 1914 BANKING CRISIS: IMPLICATIONS FOR FINANCIAL DEREGULATION", Studies in Economics and Finance, Vol. 10 No. 2, pp. 27-46. https://doi.org/10.1108/eb028667
Publisher
:MCB UP Ltd
Copyright © 1986, MCB UP Limited