This is the first comprehensive history and evaluation of the role of the 100% reserve plan in the banking legislation of the New Deal. The idea of 100% reserves is as relevant to banking reform in the 1990s as it was in the 1930s. It continues to engage the interest of great American economists today--Milton Friedman, Hyman Minsky, and James Tobin--as it did over half a century ago. Those who want to understand today's problems of banking instability and reform will find this book required reading: undergraduate and graduate students, and teachers in business, economics, banking studies, public policy and law.
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