Mark Mortensen's Reviews > America's Bank: The Epic Struggle to Create the Federal Reserve

America's Bank by Roger Lowenstein
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bookshelves: americana

As a former business major who leans toward the sales and marketing side I was on edge as to whether I really wanted to read a comprehensive historical analysis of the Federal Reserve, an arena that often receives low grades.

Throughout the 18th and 19th Century American civilization managed finances without a Federal Reserve System. As America grew and travel expanded gold and silver certificates along with other notes became a popular addition to currency. The constant strain on private and commercial banks lacking insurance created a lingering fear of “runs” and potential banking collapses. The panic of 1907 escalated the crisis. The book details the individuals who were instrumental in creating the Federal Reserve during President Woodrow Wilson 1st term shortly before the onset of World War I. Although the institution was hailed by many, opponents considered the new central bank to be another expansion of big government.

I view the Federal Reserve that sets America’s monetary policy as serving an integral part of our governmental system through a marriage of “for better or for worse”.
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Reading Progress

Finished Reading
December 11, 2015 – Shelved as: to-read
December 11, 2015 – Shelved
December 11, 2015 – Shelved as: americana

Comments Showing 1-3 of 3 (3 new)

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message 1: by Patrick (new)

Patrick Peterson See the books:

America's Great Depression by Murray Rothbard

The Forgotten Depression by James Grant

as just a couple of many, many books that will give you an alternate opinion of the value of the Fed.


Mark Mortensen Thanks Patrick...they look like good books.


message 3: by Patrick (new)

Patrick Peterson Enjoy.


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