1908
DOI: 10.1086/251463
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The Aldrich-Vreeland Act

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Cited by 11 publications
(2 citation statements)
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“…The analytical distinction between hand-to-hand currency shortage and funding liquidity crisis infers categories such as runs to currency and to liquidity, seasonality and instability of the interest rate, and issuance of small-denominated notes and high-powered medium. In order to resolve the problem of run to currency, the Congress passed the Aldrich-Vreeland Act in 1908 that authorised some national banks to issue 'emergency currency' outside the NBS rule (Laughlin, 1908) and set up the National Monetary Commission, which took place in 1910. The ensuing Aldrich project intended to create the 'third' bank of the United States -the National Reserve Association.…”
Section: Resultsmentioning
confidence: 99%
“…The analytical distinction between hand-to-hand currency shortage and funding liquidity crisis infers categories such as runs to currency and to liquidity, seasonality and instability of the interest rate, and issuance of small-denominated notes and high-powered medium. In order to resolve the problem of run to currency, the Congress passed the Aldrich-Vreeland Act in 1908 that authorised some national banks to issue 'emergency currency' outside the NBS rule (Laughlin, 1908) and set up the National Monetary Commission, which took place in 1910. The ensuing Aldrich project intended to create the 'third' bank of the United States -the National Reserve Association.…”
Section: Resultsmentioning
confidence: 99%
“…Silber highlights that without the amendment many national banks, especially the large, New York City national banks, would not have qualified for emergency currency. It is notable thatLaughlin (1908) raised awareness of such shortcomings in the original act.…”
mentioning
confidence: 99%