This article examines the forces that appear to have driven long-term trends in American urban inequality. The changing structure of consumer goods' prices is shown to have played a significant—but not dominant—role in every phase of increasing and decreasing nominal inequality from 1820 to 1929. The revealed symmetry in movement between the urban price and income structure suggests that a successful macro-distribution model must explain both historical phenomena. Finally, the article concludes that technological imbalance was a crucial element in shaping peacetime patterns of income distribution.

This paper examines the impact of the Bank War on the economic events of the 1830's. An economic model of the antebellum money market is developed and tested. Specifications for money demand and supply are drawn from contemporary monetary literature and empirically estimated. Next, the historical hypotheses are tested by exploring the structural stability of the model. The results clearly indicate that: the Bank War affected the economy because it altered the pattern of financial behavior; wildcat banking was not characteristic of the post-Bank period; and finally, the Panic of 1837 was the result of a severe monetary contraction.

The most curious of the detractors of classical economics said it was the work of Scots, Jews, and subversives. The charges were meant to turn back the movement toward the free market, but there was some truth in them. Classical economics did begin in Scotland, Ricardo was Jewish, it was the policy of the Parliamentary Radicals, and it did threaten some major institutions. The paper describes how and to what effect these facts were used by men who each for his own reason did not like the market.

C P. Kindleberger once described economic history as “great fun” but not very useful for understanding what happens in the real world. W. N. Parker, on the other hand, doesn't regard it as at all amusing, but terribly important. Within that range, surely, each of us can locate his own ratio of practicality to enjoyment inherent in the pursuit of economic history. I myself was drawn to the study of economic history, even before I was aware of its existence—in fact, it was my youthful intention to invent the discipline—by two distinct motives. On the one hand, I wanted to enter (or create) a profession in which the work itself would yield intellectual pleasure. At the same time, having just lived through the longest depression in modern times and the most destructive war in history, I wanted to do something that would be useful to society. History, I knew, was interesting. Economics, I assumed, was important. I therefore resolved to give up the study of engineering, which had occupied me briefly before the war, and to create the new discipline of economic history. I was mildly surprised to discover upon enrolling in the Yale Studies for Returning Servicemen that the discipline did, indeed, already exist, and was, furthermore, ably represented at Yale by none other than Harold F. Williamson.

This article deals with a largely Polish speaking region of eastern Prussia which was transformed from a rural, agrarian area in the mid-nineteenth century to a modern mixed agricultural and heavy industrial economy by 1913. This region moved from a condition of high ana fluctuating mortality and fertility prior to the 1860's to a situation with declining mortality and eventually declining fertility after the 1860's. Consideration of detailed patterns of mortality (by age, sex, atid cause of death) and of fertility (by Kreise) helps relate economic factors to these demographic trends and differentials.

This article assumes that the only effect of slavery was the relief of a labor constraint facing individual farmers, and shows the conditions under which slavery would increase the share of agriculture in total output, reduce the size of the market for, and the incentive to invent and innovate, new farm machinery. Two farm models are developed, one with a fixed laborconstraint, the other with a rising labor supply-curve; these are contrasted with a third model of an unconstrained farm. The constrained (free labor) and unconstrained (slave labor) models successfully predict several salient differences between northern and southern agriculture and industry.

Some recent critics of Russian industrial policy argue that the costs of the Witte System may have been excessive relative to its benefits and that similar rates (or perhaps higher rates) of industrial growth could have been attained if alternate fiscal and monetary policies had been adopted. Once differential rates of growth of prices and real national income are considered, it appears that the Russian money supply was not unduly constrained. The authors also demonstrate that foreign capital inflows made a substantial contribution to Russian economic development, as did the decision to adhere to the international gold standard.

This paper deals with the relationship between tonnage capacity and utilization of the Erie, Welland and St. Lawrence River canals before 1850. Estimates are presented for the capacities of the canals, as built and modified. Comparison with the actual tonnage carried eastward for selected years shows that the British canals were grossly and increasingly underutilized, while the Erie's utilization was closely correlated with its capability, particularly through its eastern half. Reasons for this situation are given and it is argued that had British funds been redirected away from canal enlargement and applied to the construction of vessels and harbor facilities, the British might have entered upon a prosperous carrying trade within North America in the second quarter of the nineteenth century.

The cross-sectional and secular variations in the fertility of the white population in pre-Civil War Ohio are analyzed with special regard to the role of population pressure in conditioning these patterns and trends. Other factors, such as urbanization, education, cultural heritage, and the sex ratio, all of which are often cited as major explanatory variables during the demographic transition are also introduced. Although each of these variables is shown to have some impact, none can account for more than a minor proportion of the Variance in human fertility. It appears that the major force affecting both inter-county fertility and the secular trend for the state was the Variation in the degree of population pressure as measured by the average assessed value of an acre of non-urban land.

This seeks to examine the thesis of family limitation in pre-industrial England proposed by E. A. Wrigley on the basis of birth intervals evidence in his famous 1966 paper, “Family Limitation in Pre-industrial England.” A simulation model of a stochastic reproductive system is used to investigate the possible effects of a variety offerees acting on birth intervals. It is argued that although the Wrigley hypothesis remains plausible it is likely that he has exaggerated the role of birth control.

As farm settlement spread westward, area after area exhibited remarkably similar economic and demographic changes, among them, the establishment of a virtually zero growth rate of farm population. At bottom this was due to a shift in farm family fertility from very high to replacement levels, a trend apparent in older areas as early as the beginning of the nineteenth century despite the abundance of good farm land to the west. The principal source of this wholly voluntary adjustment of fertility was the increasing difficulty encountered by farm parents in providing for their children the kind of start in life they would like them to have. Similar pressures may account for other rural fertility declines in the historical past or today's LDC's.

This article analyzes aspects of secular urban growth in two systems of cities in the mid-Atlantic states. One system centers on New York City; the other on Philadelphia. The author finds that the growth oi New York's hinterland was an important factor in explaining that system's relatively rapid expansion through the War of 1812. In subsequent years, this situation changed; basing his analysis on cross-sectional data, the author shows that relatively simple patterns of development gave way to complex situations shaped by the differential impacts of transportation, manufacturing, and commerce on these two urban systems.

This paper compares the proportion of liquid assets in the portfolios of the major banks in London, Paris, and New York during the heyday of the gold standard. Various hypotheses concerning the determinants of this proportioh are advanced and then tested using data on individual banks over a number of years. The major conclusions concern the effectiveness of the Bank of England in comparison with the systems prevailing in the other centers and the existence of national differences in the aggressiveness displayed by bank managers.

In this article the convergence of U.S. interregional interest rates in the late nineteenth century is examined and two major hypotheses are tested in the framework of a bank portfolio selection model based on the capital-asset-pricing model. Both the spread of the commercial paper market and the lowering of entry barriers through the reduction of national bank minimum capital requirements are rejected as principal explanations. The erosion of local monopoly power is shown to have been of central importance, and this development was due to the growth of state rather than national banks.