Triumph of the Bankers: Money and Banking in the Eighteenth and Nineteenth Centuries

(Hardback)

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Description

In this sure-to-be-controversial history of money and banking, Hixson examines the historical and resulting present-day deficiencies of the U.S. monetary and banking system. His study reveals that in a whole series of historical cases over the eighteenth and nineteenth centuries faulty economic principles were applied to the developing system. His bold conclusions include suggestions that: commercial banks should be required to maintain 100 percent reserves on all demand-deposit accounts and thus be denied the present privilege of creating credit-money; and the federal government should be the sole creator of money in the economy. As in his previous book, Hixson challenges generally accepted historical and economic wisdom, making this a significant contribution to the literature.

Reviews

"Hixson's work (will be) important to aiding society in breaking out of the trap into which bad monetary policy has placed us."-John H. Hotson Professor of Economics University of Waterloo
Judged by the knowledge, wisdom, and insight it contains, this is one of the best bargains in any book store. One who seeks to understand the "preposterous financial system" which evolved from 1690 through 1914 cannot do better than to start here.-Economic Reform
"Judged by the knowledge, wisdom, and insight it contains, this is one of the best bargains in any book store. One who seeks to understand the "preposterous financial system" which evolved from 1690 through 1914 cannot do better than to start here."-Economic Reform

Author Bio

WILLIAM F. HIXSON is a retired businessman and engineer, as well as an amateur economist, who has published articles in the Eastern Economic Journal, The History of Economics Society Bulletin, and Economies et Societes./e He is the author of A Matter of Interest: Reexamining Money, Debt, and Real Economic Growth (Praeger, 1991).