We examine a period during the prevalence of the gold standard in the United States to provide evidence that speculation about a currency peg can have damaging effects on bank balance sheets. In particular, the defeat of the pro-silver candidate in the 1896 presidential election was associated...

A concise analysis of the evolution of monetary policy and banking institutions over the past sixty years that stresses the dynamic interactions between the Federal Reserve and banking institutions that resulted from financial market innovations. Institutions were influenced by increasing...