This reading list for J. W. Angell’s courses on Money and Banking at Columbia University from 1933 was found in Milton Friedman’s papers at the Hoover Institution.
_____________________
READING LIST IN MONEY AND BANKING (Economics 127-128)
Revised: 1933
# Required reading.
## Required reading, to be prepared for class-room discussion. It will be found advisable, in the required reading, to follow the order of titles as here given.
1. FINANCIAL ORGANIZATION OF THE UNITED STATES
# [✓] Mitchell, W. C., Business Cycles: The Problem and Its Setting: vol. I (1927), chap. 2, esp. pp. 116-154.
# [✓] Noyes, A. D., Forty Years of American Finance: 1865-1907 (1909).
# [✓] ————–, The War Period of American Finance: 1908-1925 (1926).
[one of (Goldenweiser, Kemmerer, Willis)]
#Goldenweiser, E. A., The Federal Reserve System in Operation (1925).
# Kemmerer, E. W., The A.B.C. of the Federal Reserve System (9 ed., 1932).
#Willis, H. P., The Federal Reserve System (1923).
__________
#Beckhart, B. H., The Discount Policy of the Federal Reserve System (1929), chaps. 1, 3, 4.
# Burgess, W. R., The Reserve Banks and the Money Market (1927).
#Reed, H. L., The Development of Federal Reserve Policy (1922).
#————-, Federal Reserve Policy, 1921-1930 (1930).
#Hardy, C. O., Credit Policy of the Federal Reserve System (1932).
# [✓] National Industrial Conference Board, The Banking Situation in the U. S. (1932).
# [✓] Magee, J. D. et al., The National Recovery Program (1933).
__________
Dewey, D. R., Financial History of the United Sttes (1930).
Dowrie, G. W., American Monetary and Banking Policies (1930).
Kilborne, R. D., Principles of Money and Banking (2 ed., 1929).
Moulton, H. G., Financial Organization of Society (3 ed., 1930).
Rodkey, R. G., The Banking Process (1929).
White, H., Money and Banking (5 ed., 1914).
__________
Anderson, B. M., The “Free Gold” of the Federal Reserve System (Chase Economic Bulletin, Sept 29, 1930).
Chamber of Commerce of the U. S., The Federal Reserve System (2 parts: 1929).
Dunbar, C. F., The Theory and History of Banking (5 ed., 1929); see section on the Federal Reserve.
Federal Reserve Bank of New York, Monthly Review (also see other cities).
Federal Reserve Bulletin.
Federal Reserve System: Committee on Bank Reserves, Member Bank Reserves (1931).
Harris, S. E., Twenty Years of Federal Reserve Policy (2 vols., 1932); has an excellent bibliography.
Spahr, W. The Federal Reserve System and the Control of Credit (1931).
Strong, B., Interpretations of Federal Reserve Policy (ed. W. R. Burgess, 1930).
Tippetts, C. S., State Banks and the Federal Reserve System (1929).
United States: House: Committee on Currency and Banking, Hearings on the Stabilization of the Price Level for Commodities in General (the Strong Bill) (69: 2 Congress, H. R. 7895, 2 vols., 1926; 70: 1 Congress, H. R. 11806, 1928).
————-: Senate: Committee on Banking and Currency, Hearings on the Operation of the National and Federal Reserve Banking Systems (71:3 Congress, S. Res. 71; in 7 parts, 1931).
Warburg, P. M., The Federal Reserve System (2 vols, 1930).
Willis, H. P., and Steiner, W. H., Federal Reserve Banking Practise (1926).
__________
American Acceptance Council, Facts and Figures Relating to the American Money Market (1931). Also see other publications of the Council.
Beckhart, B. H., ed., The New York Money Market (4 vols., 1931-32).
Bell, J. W., Recent Changes in the Character of Bank Liabilities and the Problem of Bank Reserves (Am. Econ. Rev., March, 1931, Suppl.)
Cartinhour, G. T., Branch, Group and Chain Banking (1931).
Curris, L., The Decline of the Commercial Loan (Quar. Jour. Econ., Aug., 1931).
Eliot, Clara, The Farmer’s Campaign for Credit (1927).
Furniss, E. W., Foreign Exchange (1922); section on New York money market.
Hoover, C. B., Brokers’ Loans and Bank Deposits (Jour. Pol. Econ., 1932).
Lawrence, J. S., Banking Consolidations in the U. S. (1930).
National Bureau of Economic Research, various volumes and current reports.
National Industrial Conference Board, Economic Reconstruction Legislation of 1933 (1933).
Owens, R. N., and Hardy, C. O., Interest Rates and Stock Speculation (1925); 2 ed., 1930).
Persons, C., Credit Expansion, 1920 to 1929, and Its Lessons (Quar. Jour. Econ., Nov., 1930).
Riefler, W. W., Money Rates and Money Markets in the U. S. (1930).
Rogers, J. H., America Weighs Her Gold (1931).
United States: House: Committee on Currency and Banking, Hearings on Branch, Chain and Group Banking (71:2 Congress, H. Res. 141; in 15 parts, 1931).
Young, Allyn A., An Analysis of Bank Statistics of the United States (Rev. Econ. Stat., 1928; reprinted separately).
__________
President’s Conference on Unemployment: Committee on Recent Economic Changes, Recent Economic Changes in the U. S. (2 vols., 1929).
2. FINANCIAL ORGANIZATION OF LEADING FOREIGN COUNTRIES
(Also see Part 5)
#Beckhart, B. H., The Discount Policy of the Federal Reserve System (1929), chaps. 1, 2.
__________
(Read at last two in this group)
#Andréadès, A., The Bank of England, (2 ed., 1924).
#Bagehot, W., Lombard Street (14 ed., 1915).
#Beckhart, B. H., The Banking System of Canada (1929).
#Brown, W. A., England and the New Gold Standard (1929).
#Conant, C. A., History of Modern Bnaks of Issue (6 ed., 1927).
#Dulles, E. L., The French Franc, 1914-1928 (1929).
#Flink, S., The German Reichsbank (1931).
#Riesser, J., The German Great Banks (Natl. Monetary Commission Reports; 1910).
#Rogers, J. H., The Procdss of Inflation in France, 1914-1927 (1929).
#Whale, P. B., Joint Stock Banking in Germany (1930).
#Willis, H. P., and Beckhart, B. H., eds., Foreign Banking Systems (1929).
__________
Arndt, E. H. D., Banking and Currency Developments in South Africa (1928).
Cassel, G., Money and Foreign Exchange After 1914 (1922).
———, Post-War Monetary Stabilization (1928).
Dulles, E. L., The Bank for International Settlements at Work (1932).
Edie, L. D., and Weaver, D., Velocity of Bank Deposits in England (Jour. Pol. Econ., Aug., 1930).
Federal Reserve Bulletin (articles and statistics on foreign monetary and banking conditions).
Furniss, E. S., Foeign Exchange (1922); section on the London money market.
Goschen, Viscount G. J., Foreign Exchange (1861; reprinted); sections on the London money market.
Gregory, T. E., The Return to Gold (1925).
Harris, S. E., Monetary Policies of the British Empire (1931).
Hawtrey, R. C., Monetary Reconstruction (1923).
Katzenellenbaum, S. S., Russian Currency and Banking, 1914-1924 (1925).
Kemmerer, E. W., Modern Currency Reforms (1916).
Kemmerer, E. W., and Vissering, G., Report on the Resumption of Gold Payments by the Union of South Africa (1925).
Keynes, J. M., Indian Currency and Finance (1913).
Lavington, F., The English Capital Market (1921).
Mason, D. M., Monetary Policy, 1914-1925 (1927).
Parker, W., The Paris Bourse and French Finance (1919).
Peake, E. G., An Academic Study of Some Money Market and Other Statistics, 1884-1914 (1923).
Spalding, W. F., Eastern Exchange, Currency and Finance (4 ed., 1924).
________________, The London Money Market (1922).
United Kingdom: Committee on Finance and Industry, Report (Cd. 3897; 1931) (The Macmillan Report).
Withers, H., The Meaning of Money (3 ed., 1924).
Young, J. P., Central American Currencies (1925).
3. THE GENERAL THEORY OF MONEY, BANKING AND PRICES
##Layton, Sir W. T., Introduction to the Study of Prices (1920).
#Mitchell, W. C., Business Cycles: The Problem and its Setting: vol. I (1927), chap. 2, esp. pp. 116-154.
##Fisher, Irving, The Purchasing Power of Money (1911).
##Keynes, J. M., Monetary Reform (1924), pp. 1-95.
##Angell, J. W., Theory of International Prices (1926), pp. 116-135, 178-186, 274-280, 308-312, 324-331.
##Gregory, T. E., The Gold Standard and its Future (1932), chaps. 1, 2.
#Steiner, W. H., Some Aspects of Banking Theory (1920).
__________
##Hawtrey, R. G., Currency and Credit (3 ed., 1927).
##Foster, W. T., and Catchings, W., Profits (1925).
##Mitchell, W. C., Business Cycles: The Problem and its Setting: vol. I (1927), Chap. 1.
##Keynes, J. M., Treaties on Money (2 vols., 1930).
##Robertson, D. H., Banking Policy and the Price Level (1926).
##Hayek, F., Prices and Production (1931).
#Hansen, A. H., and Tout, H., Annual Survey of Business Cycle Theory (Econometrica, April, 1933).
##Angell, J. W. Money, Prices and Production: Some Fundamental Concepts (Quar. Jour. Econ., November, 1933).
__________
#Phillips, C. A., Bank Credit (1921), chaps. 1-6.
__________
Anderson, B. M., The Value of Money (1917).
Auspitz, R., and Lieben, R., Recherches sur la théorie des prix (trans. Into French, 2 vols., 1914).
Cannan, E. A., Money (6 ed., 1929).
Dunbar, C. F., Theory and History of Banking (5ed., 1929).
Dunkman, W. E., Qualitative Credit Control (1933).
Edie, L. T., Money, Production and Prices (1929).
Fisher, Irving, Mathematical Investigations in the Theory of Value and Prices (1895; reprinted 1925).
Foster, W. T., and Catchings, W., Money (1929).
Greidanus, T., The Value of Money (1932).
Hahn, L. A., Geld und Kredit (3 ed., 1929).
Hawtrey, R. G., The Art of Central Banking (1932).
Kemmerer, E. W., Money and Credit Instruments in Relation to Prices (2 ed., 1909).
Knapp, G. F., The State Theory of Money (1905; translated 1924).
Laughlin, J. L., Principles of Money (1903).
————, Money, Credit and Prices (1931).
Leaf, W., Banking (1927).
Marshall, Alfred, Money, Credit and Commerce (1923).
———————, Official Papers (1926); esp. No. 2.
Mill, J. S., Principles of Political Economy (1848; ed. W. J. Ashley, 1920), Bk. III, chaps. 7-14, 19, 21, 22, 24.
Mises, L. von, Theorie des Geldes und der Umlaufsmittel (2 ed., 1924).
Monroe, A. E., Monetary Theory before Adam Smith (1923).
Pollak Foundation, Prize Essays (1927) (criticisms of Foster and Catchings’ Profits).
Robertson, D. H., Money (1922).
Taussig, F. W., Principles of Economics (3 ed., 1923), Bk. III.
__________
Aftalion, A., L’Or et sa distribution mondiale (1932).
Angell, J. W. Monetary Prerequisites for Employment Stabilization (chapter in The Stabilization of Employment, edited by C. F. Roos, 1933).
Angell, J. W., and Ficek, K., The Expansion of Bank Credit (Jour. Pol. Econ., Feb. and April, 1933).
Bell, J. W., Recent Changes in the Character of Bank Liabilities and the Problem of Bank Reserves (Am. Econ. Rev., March, 1932. Supplement).
Blackett, Sir Basil P., Planned Money (1933).
Bradford, F. A., Some Aspects of the Stable Money Question (Quar. Jour. Econ., Aug., 1931).
Copeland, M. A., Money, Trade and Prices—A Test of Causal Primacy (Quar. Jour. Econ., Aug., 1929).
Currie, L., The Decline of the Commercial Loan (Quar. Jour. Econ., Aug., 1931).
Davenport, H. J., Velocities, Turnovers and Prices (Am. Econ. Rev., March, 1931).
Edie, L. T., Gold, Production and Prices (1928).
Einzig, P., International Gold Movements (1930).
Gardner, W. R., Central Gold Reserves, 1925-1931 (Am. Econ. Rev., March, 1932).
Hawtrey, R. G., The Gold Standard in Theory and Practise (1927).
—————–, Monetary Reconstruction (1923).
Hoover, C. B., Brokers’ Loans and Bank Deposits (Jour. Pol. Econ. 1932).
Kisch, C. H., and Elkins, W. A., Central Banks (1928).
Lawrence, J. S., Borrowed Reserves and Bank Expansion (Quar. Jour. Econ., Aug., 1928).
—————–, The Stabilization of Prices (1928).
League of Nations, The Course and Phases of the World Economic Depression (1931).
—————–, World Economic Survey (annual since 1932).
League of Nations: Gold Delegation, Reports, Documents, etc. (1930ff.)
Lounsbury, R. H., Velocity Concepts and Prices (Quar. Jour. Econ., 1931).
Mlynarski, F., Gold and Central Banks (1929).
Neiswanger, W. A., The Expansion of Bank Credit (Am. Econ. Rev., June, 1933).
Pigou, A. C., and Robertson, D. H., Economic Essays and Addresses (1931).
Rogers, J. H., The Effect of Stock Speculation on the New York Money Market (Quar. Jour. Econ. , May, 1926).
Royal Institute of International Affairs, The International Gold Problem (1931).
Shaw, W. A., The Theory and Principles of Central Banking (1930).
Snyder, C., New Measures of the Relations of Credit and Trade (Proceedings, Academy of Political Science, Jan., 1931).
Sprague, O. M. W., and Burgess, W. R., Money and Credit and Their Effect on Business (chapter in Recent Economic Changes in the U. S., vol. 2, 1931).
Stamp, Sir Josiah, Papers on Gold and the Price Level (1931).
Williams, J. H., The Crisis of the Gold Standard (Foreign Affairs, Jan. 1932).
—————–, The Monetary Doctrines of J. M. Keynes (Quar. Jour. Econ., Aug., 1931).
Willis, H. P., Central Banking (Encyclopedia of the Socieal Sciences: vol. 3, 1930).
4. BUSINESS CYCLES (in addition to titles given in Part 3)
Adams, A., Economics of Business Cycles (1925).
Aftalion, A., Les crises périodiques de surproduction (1913).
Clark, J. M., The Economics of Overhead Costs (1923).
Hansen, A. H., Business-Cycle Theory (1927).
Hawtrey, R. G., Good and Bad Trade (1913).
Hayek, F., Monetary Theory and the Trade Cycle (1933; a collection of earlier essays).
Hexter, M. B., Social Consequences of Business Cycles (1925).
Kuznets, S., Cyclical Fluctuations (1926).
————–, Equilibrium Economics and Business Cycle Theory (Quar. Jour. Econ., May, 1930).
————–, Monetary Business Cycle Theory in Germany (Jour. Pol. Econ., April, 1930=.
————–, Secular Movements in Production and Prices (1930).
Lavington, F., The English Capital Market (1921).
—————-, The Trade Cycle (1922).
Mills, F. C., The Behavior of Prices (1927).
————-, Economic Tendencies (1932).
Mitchell, W. C., Business Cycles (1913).
—————–, Business Cycles (Encyclopedia of the Social Sciences, vol. 3, 1930).
—————–, Business Cycles: The Problem and Its Setting (vol. I, 1927).
Persons, W.M., Indices of General Business Conditions (Rev. Econ. Stat., 1919; reprinted separately).
Pigou, A. C., Industrial Fluctuations (2nd ed., 1929).
Robertson, D. H., A Study of Industrial Fluctuations (1915).
Snyder, C., Business Cycles and Business Measurements (1927).
Souter, R. W., Equilibrium Economics and Business Cycle Theory (Quar. Jour. Econ., Nov., 1930).
Thorp, W. L., and Mitchell, W. C., Business Annals (1926).
Wagemann, E., Economic Rhythms (translated 1929).
5. UNSTABLE AND DEPRECIATED CURRENCIES: SILVER
(ALSO SEE PART 2).
#Angell, J. W., Theory of International Prices (1926), chaps. 7, 17.
#Keynes, J. M., Monetary Reform (1924), chaps. 2, 3.
#Taussig, F. W., International Trade (1927), chaps. 26-30.
#Angell, J. W., Exchange Depreciation. Foreign Trade and National Welfare (Proceedings, Academy of Political Science, June, 1933).
__________
Angell, J. W., Monetary Theory and Monetary Policy (Quar. Jour. Econ., 1925).
Bordes, J., The Austrian Crown (1924).
Brown, W. A., England and the New Gold Standard (1929).
Cassel, G., Money and Foreign Exchange after 1914 (1922).
———–, Post-War Monetary Stabilization (1928).
Dulles, E.L., The French Franc, 1914-1928 (1929).
Fetter, F. W., Monetary Inflation in Chile (1931).
Graham, F. D., Exchange, Prices and Production in Hyper-Inflation: Germany, 1920-1923 (1930).
Hawtrey, R. G., Monetary Reconstruction (1923).
Hecksher, E. P. Swedish Monetary History, 1914-1925 (article in the Carnegie Endowment’s Economic and Social History of the World War, volume on Sweden, Norway, etc., 1930).
Keynes, J. M., Treatise on Money (2 vols. 1930);see index for relevant sections.
Nogaro, B., Modern Monetary Systems (translated 1927).
Rist, C., La déflation en pratique (1924).
Rogers, J. H., The Process of Inflation in France, 1914-1927 (1929).
United States: Senate: Commission of Gold and Silver Inquiry, Foreign Currency and Exchange Investigation (by J. P. Young; 2 vols., 1925).
—————————–, Tariff Commission, Depreciated Exchange and International Trade (2 ed., 1922).
Young, J. P., Central American Currencies (1925).
__________
#Elliston, H. B., The Silver Problem (Foreign Affairs, April, 1931).
Gregory, T. E., The Silver Situation (Manchester University, 1932).
Leong, Y. S., Silver (1933).
Source: Hoover Institution Archives. Papers of Milton Friedman. Box 5, Folder 12 “Student years”.