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Journal Article
Lender of last resort: the concept in history
Humphrey, Thomas M. (1989-03)
Henry Thornton (1760-1815) and Walter Bagehot (1826-1877) laid down a set of rules for stopping banking panics and crises. Known collectively as the classical theory of the lender of last resort, those rule stressed (1) protecting the aggregate money stock, not individual institutions, (2) letting insolvent institutions fail, (3) accommodating sound but temporarily illiquid institutions only, (4) charging penalty rates, (5) requiring good collateral, and (6) preannouncing these conditions in advance of crises so as to remove uncertainty. These precepts continue to inform central bank policy ...
Economic Review , Volume 75 , Issue Mar , Pages 8-16

Journal Article
Central banking: then and now
Broaddus, Alfred (1993-04)
Economic Quarterly , Issue Spr , Pages 1-12

Journal Article
U.S. securities markets and the banking system, 1790-1840
Sylla, Richard (1998-05)
Review , Issue May , Pages 83-98

Working Paper
Liquidity shocks and financial crises during the national banking era
Tallman, Ellis W.; Moen, Jon R. (1993)
FRB Atlanta Working Paper , Paper 93-10

Journal Article
Lessons from financial history. Proceedings of the twenty-second annual Economic Policy Conference of the Federal Reserve Bank of St Louis
Wheelock, David C. (1998-05)
Review , Issue May

Journal Article
Did the Fed's founding improve the efficiency of the U.S. payments system? - commentary
James, John A. (1998-05)
Review , Issue May , Pages 143-150

Journal Article
The financial crisis of 1825 and the restructuring of the British financial system - commentary
Bordo, Michael D. (1998-05)
Review , Issue May , Pages 77-82

Journal Article
Fear and loathing of central banks in America
Champ, Bruce A.; Bryan, Michael F. (2002-06)
The Federal Reserve System is America?s uneasy compromise between our dislike of concentrated financial power and our desire to promote efficiency in our national payments system. In fact, the Federal Reserve is the nation?s third attempt to establish a large national bank?what we now call a central bank?that is in a unique position to influence a nation?s money and credit. This Commentary retells the story of the rise and fall of the two earlier national banks, the Banks of the United States.
Economic Commentary , Issue Jun

Conference Paper
Market disciplines as a regulator of bank risk
Rolnick, Arthur J. (1993)
Conference Series ; [Proceedings] , Volume 37 , Pages 96-110

Journal Article
Wildcat banking, banking panics, and free banking in the United States
Dwyer, Gerald P. (1996-12)
Banks in the United States issued currency with no oversight of any kind by the federal goverment from 1837 to 1865. Many of these banks were part of "free banking" systems with no discretionary approval of entry into banking, and these banks issued notes that were used for payments in transactions just as Federal Reserve notes are today. There was no central bank or goverment insurance, and the ultimate guarantee of the value of a bank's notes was the value of the bank's assets. As the author indicates, these banknotes have similarities to some forms of electronic money. ; Free banking in ...
Economic Review , Volume 81 , Issue Dec , Pages 1-20

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