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Author:   Jon Moen (University of Mississippi) ,  Mary Tone Rodgers (State University of New York, Oswego)
Publisher:   Cambridge University Press
Imprint:   Cambridge University Press
Weight:   0.477kg
ISBN:  

9781009291569

ISBN 10:   1009291564
Pages:   292
Publication Date:   30 October 2025
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
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Table of Contents

1. Introduction; 2. Morgan and bank reserves: a user's guide; 3. Morgan's routine business syndicates; 4. Early panics: 1837 and 1857; 5. Panics in the early national banking era 1873–1893; 6. Silverite threats in 1894; 7. 1895 and 1896 transactions to replenish the US Treasury; 8. Lesser crises: 1899–1902; 9. Panic of 1907: the domestic front; 10. Panic of 1907: the international front; 11. 1908: the long clean up; 12. Summary, legacy and relevance; Technical Appendix 1.1 Supply and demand for short-term liquidity; Technical Appendix 2.1 Bank pooling methods; Technical Appendix 2.2 Loan certificates; Technical Appendix 3.1 Morgan's routine business syndicates; Technical Appendix 6.1 The International Gold Standard; Technical Appendix 8.1 Morgan's routine syndicates after 1895; Technical Appendix 12.1 Aldrich Vreeland Act Analysis.

Reviews

'This outstanding book offers fresh insights on financial crises, J. P. Morgan, and business history. Its research exploits long-neglected archives, novel analysis, and masterful synthesis of events. And it highlights the impacts of information, collective action, social networks, tactics, precedents, and the willingness of leaders to risk private loss - all in combatting financial crises. The lessons are bracing and highly relevant to the present day.' Robert F. Bruner, Professor Emeritus and Dean Emeritus, University of Virginia, and co-author of The Panic of 1907: Heralding a New Era of Finance, Capitalism, and Democracy 'While a long shelf of books detail J. P. Morgan's contributions to the formation of the modern American economy, Moen and Tone Rodgers elucidate another essential but underappreciated contribution. Digging into unexploited archives, they show how Morgan used the techniques he pioneered to finance large corporations to create the pools of liquidity needed to quash financial crises before the foundation of the Federal Reserve. Their findings not only enrich the historical literature but also provide novel insights for containing future crises.' Eugene White, Distinguished Professor of Economics Emeritus, Rutgers University

Author Information

Jon Moen is a Professor of Economics at the University of Mississippi. He has published papers on US slavery, retirement, and bank panics during the National Banking Era. He is a member of the Economic History Association, the Economic History Society, and the Cliometrics Society. Mary Tone Rodgers is an Adjunct Instructor of Finance and Economics at the State University of New York. She enjoyed a 30-year career at Merrill Lynch before moving to academia where she received the 2022 Chancellor's Award for Excellence in Teaching.

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