当华盛顿关闭华尔街时：1914年经济危机与美元本位起源 When Washington Shut Down Wall Street : The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy

基本信息

ISBN-13：9780691138763

ISBN-10：0691138761

Author：William L. Silber

Publisher：Princeton University Press

Imprint：Princeton University Press

Format：Paperback

Number of Pages：232

Release Date：29 September 2008

Weight：312g

Dimensions：235mm x 152mm

信息仅供参考，具体请以实物为准

书籍简介

《华盛顿关闭华尔街》一书的叙述如同一个悬疑故事。它追溯了财政部长威廉·吉布斯·麦卡杜在一战爆发之际，如何力挽狂澜，战胜了几乎将美国推向金融灾难的货币危机。一代人以来大规模的黄金外流，危及了美国偿还海外债务的能力。人们担心美国会放弃金本位制，导致美元在国际市场上暴跌。1914年夏天，由于没有中央银行，美国就像一个没有头的金融巨人。

西尔伯在引人入胜的叙述中写道，威廉·麦卡杜采取了果断的行动。他关闭了纽约证券交易所四个多月，以阻止欧洲人抛售美国证券并要求以黄金作为交换。他向全国大量发行紧急货币，以防止1907年席卷美国的银行挤兑重演。他通过履行美国对金本位制的承诺，使美国成为世界货币强国。他的行动为当今的危机控制提供了值得借鉴的蓝图。麦卡杜的方案强调一种退出策略，使政策制定者能够在遏制危机的同时，大限度地减少附带损害。

《华盛顿关闭华尔街》重现了美国为维护金融信誉而进行的斗争。麦卡杜的成就使他与保罗·沃尔克和艾伦·格林斯潘并列为美国伟大的金融领袖。事实上，在1914年危机逐渐消退之际，麦卡杜一手创建了美联储，并担任了美联储理事会的首任主席。

When Washington Shut Down Wall Street unfolds like a mystery story. It traces Treasury Secretary William Gibbs McAdoo's triumph over a monetary crisis at the outbreak of World War I that threatened the United States with financial disaster. The biggest gold outflow in a generation imperiled America's ability to repay its debts abroad. Fear that the United States would abandon the gold standard sent the dollar plummeting on world markets. Without a central bank in the summer of 1914, the United States resembled a headless financial giant.

William McAdoo stepped in with courageous action, we read in Silber's gripping account. He shut the New York Stock Exchange for more than four months to prevent Europeans from selling their American securities and demanding gold in return. He smothered the country with emergency currency to prevent a replay of the bank runs that swept America in 1907. And he launched the United States as a world monetary power by honoring America's commitment to the gold standard. His actions provide a blueprint for crisis control that merits attention today. McAdoo's recipe emphasizes an exit strategy that allows policymakers to throttle a crisis while minimizing collateral damage.

When Washington Shut Down Wall Street recreates the drama of America's battle for financial credibility. McAdoo's accomplishments place him alongside Paul Volcker and Alan Greenspan as great American financial leaders. McAdoo, in fact, nursed the Federal Reserve into existence as the 1914 crisis waned and served as the first chairman of the Federal Reserve Board.

作者简介

威廉·L·西尔伯

威廉·L·西尔伯是纽约大学斯特恩商学院马库斯·纳德勒金融与经济学教授。他著有或编辑过八本书，曾任总统经济顾问委员会高级经济学家和纽约联邦储备银行经济顾问小组成员。

William L. Silber

William L. Silber is Marcus Nadler Professor of Finance and Economics at the Stern School of Business, New York University. The author or editor of eight books, he has served as Senior Economist with the President’s Council of Economic Advisors and as a member of the Economic Advisory Panel of the Federal Reserve Bank of New York.