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5 - Close but Not a Central Bank

The New York Clearing House and Issues of Clearing House Loan Certificates

Published online by Cambridge University Press:  05 March 2015

By
JonEllis MoenTallman
Edited by
Owen F. Humpage
Owen F. Humpage
Affiliation:
Federal Reserve Bank of Cleveland
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Chapter
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Current Federal Reserve Policy Under the Lens of Economic History
Essays to Commemorate the Federal Reserve System's Centennial
 , pp. 102 - 125
Publisher: Cambridge University Press
Print publication year: 2015

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References

Annual Report of the Comptroller of the Currency, 1874, 1885, 1894, and 1907.Google Scholar
Cannon, James G. (1908). “Clearing Houses and the Currency (Loan Certificate Plan).” In Seligman, E. R. (ed), The Currency Problem and the Present Financial Situation, pp. 95–118.New York: Columbia University Press.Google Scholar
Cannon, James G. (1910). Clearing Houses. Publications of the National Monetary Commission, Vol. 32. Washington, DC: U.S. Government Printing Office.Google Scholar
Commercial and Financial Chronicle, various issues, Google Books online.Google Scholar
Gorton, Gary. (1985). “Clearing Houses and the Origins of Central Banking in the United States.” Journal of Economic History 45(2):277–284.CrossRefGoogle Scholar
Myers, Margaret. (1931). The New York Money Market: Origins and Development. New York: Columbia University Press.CrossRefGoogle Scholar
Minutes of the New York Clearing House Committee, 1873 and on.Google Scholar
Sprague, O. M. W. (1910). History of Crises under the National Banking Era, National Monetary Commission. Washington, DC: U.S. Government Printing Office.Google Scholar
Tallman, Ellis, and Moen, Jon. (2012). “Liquidity Creation without a Central Bank: Clearing House Loan Certificates in the Banking Panic of 1907.” Journal of Financial Stability 8:277–291.CrossRefGoogle Scholar
Timberlake, Richard H. (1993). Monetary Policy in the United States: An Intellectual and Institutional History. Chicago: University of Chicago Press.Google Scholar
Wicker, Elmus. (2000). Banking Panics of the Gilded Age. New York: Cambridge University Press.CrossRefGoogle Scholar

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