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Talk:Panic of 1901

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Revision as of 15:02, 24 February 2011 by Pestergaines (talk | contribs) (More sources needed.)
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Sources?

There doesn't seem to be any sources on this panic. However, Rothbard mentions in The Case Against the Fed the role of a certain Lyman J. Gage:

Lyman J. Gage was McKinley's Secretary of the Treasury. During his term in office, Gage tried to operate the Treasury Department as a central bank, pumping in money during recessions by purchasing government bonds in the open market, and depositing large funds with pet commercial banks. (p.102-103)

Monetary policy doesn't have to be the cause of every single upheaval in the stock market, it is still an interesting coincidence. Is there anything more on this one? Pestergaines 09:02, 24 February 2011 (CST)

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