Freedom of debt: the lessons of government finance before the Civil War -- A thousand dollar breakfast: the limits of war financing by elites -- Patriotism and profit: Jay Cooke and the democratization of debt -- The sale of American stocks constitutes the chief business at the Bourse: foreign...

In this book Garbade, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York, traces the evolution of open market operations, Treasury debt management, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve....