Union Generate также покупал свои собственные ценные бумаги на открытом рынке и выдавал другим ссуды на покупку этих бумаг. (Bouvier, Le Krach, pp. 123, 164-165, 167.)
39. Там же, с. 131.
40. Там же. Цены представлены в табл. 7 и 8, с. 136 и 144; для оценки задолженности см. с. 144.
41. Там же, таблицы 7 и 8, с. 136, 144,145.
42. John Carswell, The South Sea Bubble (London: Cresset Press,
1960), p. 171.
43. Bouvier, Le Krach, pp. 112, 113.
44. Federal Reserve System, Banking and Monetary Statistics
(Washington, DC: Board of Governors of the Federal Reserve System, 1943), p. 494.
45. Alexander Dana Noyes, The Market Place: Reminiscences of a Financial Editor (Boston: Little Brown, 1937), p. 353.
46. Peter H. Lindert, Key Cunencies and Gold, 1900-1913, Princeton Studies in International Finance, № 24 (August 1969).
47. Jeffrey G. Williamson, American Growth and the Balance of Payments, 1830-1913: a Study of the Long Swing (Chapel Hilclass="underline" University of North Carolina Press, 1964).
48. Alvin H. Hansen, Business Cycles and National Income (New York: W.W. Norton, 1957), chaps 13,15.
49. A.C. Pigou, Industrial Fluctuations (London: Macmillan, 1927), pt. 1, chap. 7, and p. 274.
50. Milton Friedman and Anna J. Schwartz, A Monetary Histoty of the United States, 1867-1960 (Princeton, NJ: Princeton University Press, 1963). Глава 10 книги издана отдельно под
названием The Great Contraction, 1929-1933 (Princeton, NJ: Princeton University Press, 1965).
51. Это утверждение было сделано Томасом Мэйером на семинаре, посвященном денежному обращению и Великой депрессии в Калг^юрнийском университете, Беркли, 11 мая 1977 г.
52. Peter Temin, Did Monetary Forces Cause the Great Depression? (New York: W. W. Norton, 1976).
53. Ben S. Bernanke, «Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression», American Economic Review, vol. 73, № 3 (June 1983), pp. 237-276.
54. Frederic S. Miskin, «Illiquidity, Consumer Durable Expenditure, and Monetary Policy», American Economic Review, vol. 66 (September 1976), pp. 642-654.
55. См. обзор Мински в Challenge, vol. 19, № 1 (September/October 1976), pp. 44-46; и см. Milton Friedman, «The Monetary Theory and Policy of Henry Simons», in Friedman, Optimum Quantity of Money, pp. 81-93.
56. Henry Simons, Economic Policy for a Free Society (Chicago: University of Chicago Press, 1948).
57. Friedman, «Henry Simons», pp. 83.
58. Cm. Friedrich A. Hayek, «Choice in Currency: a Way to Stop Inflation», Occasional Paper N2 48 (London: I nstitute of Economic Affairs, 1982); Roland Vaubel, «Free Currency Competition», Weltwirtschaftliches Archiv, vol. 113 (1977), pp. 435-459; Richard H. Timberlake, «Legislative Construction of the Monetary Control Act of 1980», American Economic Review, vol. 75, № 2 (May 1985), pp. 97-102; Leland B. Yeager, «Deregulation and Monetary Reform», American Economic Review, vol. 75, № 2 (May 1985), pp. 103-107: Lawrence H. White, Free Bankingin Britain: Theory, Experience and Debate (New York: Cambridge University Press, 1984); George Selgin, The Theory of Free Banking (Totowa, NJ: Rowan and Littlefield, 1989). Аргументы в защиту Центральных банков, см. Charles Goodhart, The Evolution of Central Banks (Cambridge: Cambridge University Press, 1989).
59. «The Post-1990 Surge in World Currency Reserves», Conjuncture, 26th year, № 9 (October 1996), pp. 2-12.
60. Pascal Blanque, «US Credit Bubble.com», Conjuncture, 29th year, № 4 (April 1999), pp. 12-21.
61. Gracicla L. Kaminsky and Carmen W. Reinhart, «The Twin Crises: the Causes of Banking and Balance-of-Payments Problems», American Economic Review (June 1999), pp. 433-500.
62. Gayer, Rostovv, and Schwartz, Growth and Fluctuation, vol. 1, p. 300.
63. Hughes, Fluctuations, p. 12.
64. Там же, с. 261.
65. Elmer Wood, English Theories of Central Banking Control, 1819-1858, with Some Account of Contemporary Procedures (Cambridge, Mass.: Harvard University Press, 1939), p. 147.
66. A. Andreadcs, History of the Bank of England (London: P. S. King, 1909), pp. 356-357.
67. Wirth, Handelsknsen, p. 463.
68. Там же. с. 515-16.
69. E. Victor Morgan, The Theory and Practice of Central Banking, 1797-1913 (Cambridge: Cambridge University Press, 1943), pp. 184-185. ’
70. О. M. W. Sprague, History of Crises under the National Banking System (1910; reprinted, New York: Augustus M. Kelley, 1968), p. 241.
71. Gibbons, Banks of New York, p. 375.
1. The Collected Works of Walter Bagehot, ed. Norman St John Stevas (London: The Economist, 1978), vol. 9, p. 273.
2. Milton Friedman, «In Defense of Destabilizing Speculation», in The Optimum Quantity of Money and Other Essays (Chicago: Aldine, 1969), p. 288.
3. Harry G. Johnson, «The Case for Flexible Exchange Rates, 1969», in Federal Reserve Bank of St Louis, Review, vol. 51 (June 1969), p. 17.
4. John Carswell, The South Sea Bubble (London: Cresset Press, ‘i960), p. 139.
5. W. R. Brock, Lord Liverpool and Liberal Toryism, 1820-1827 (Cambridge: Cambridge University Press, 1941), p. 209.
6. R. С. O. Matthews, A Study of Trade-cycle History: Economic Fluctuations in Great Britain, 1832-1842 (Cambridge: Cambridge University Press, 1954), p. 162.
7. Maurice Levy-Leboyer, Les banques europeennes et Vindustri-alisation inteniationale dans la premiere moitie du XIX siecle (Paris: Presses universitaires de France, 1964), pp. 618-620.
8. Там же, с. 713.
9. Wladimir d'Ormesson, La grande crise mondiale de 1857: Uhistoire recommence, les causes, les remedes (Paris-Suresnes: Maurice d’Hartoy, 1933), p. 110 и далее.
10. 1 Ians Rosenberg, Die Weltmirtschaftskrise von 1857֊ 1859 (Stuttgart: Verlag von W. Kohlhammer, 1934), p. 210.
11. Max Wirth, Geschichte der Handelskrisen, 4th ed. (1890; reprinted, New York: Burt Franklin, 1968), p. 463.
12. Fritz Stern, Gold and Iron: Bismarck, Bleichroder; and the Building of the German Empire (London: Allen & Unwin, 1977), p. 242.
13. The Economist, 21 апреля 1888, с. 500. Эта и следующая цитата были представлены вниманию автора Ричардом Мар-стоном.
14. Там же, 5 мая 1888, с. 570-571.
15. М. J. Gordon, «Toward a Theory of Financial Distress» Journal of Finance, vol. 26 (May 1971), p. 348.
16. Carswell, South Sea Bubble, p. 170.
17. Sir John Clapham, The Bank of England: a History (Cambridge: Cambridge University Press, 1945), vol. 2, p. 257.
18. Edouard Rosenbaum and A. J. Sherman, М. M. Warburg & Co., 1758-1938: Merchant Bankers of Hamburg (New York: Holmes & Meier, 1979), p. 129.
19. D. P. O’Brien ed., The Correspondence of Lord Overstone (Cambridge: Cambridge University Press, 1971), vol. 1, p. 368.
20. Michel Chevalier, LettressurFAmetique du Nord, 3rd ed. (Brussels: Societe beige du librairie, 1838), vol. 1, p. 37.
21. Jean Bouvier, Le krach de I’Union Generate (Paris: Presses uni-versitairesde France 1960), pp.129, 133,137.
22. Wirth, Handelskrisen. p. 508.
23. D. Morier Evans, The History of the Commercial Crisis, 18571858, and the Stock Exchange Panic of 1859 (1859; reprinted, New York: Augustus M. Kelley, 1969), p. 203.
24. Testimony of Louis Adolphe Thiers, Ministere des Finances et al., Enquete sur les principes et les faits generaux qui regissent la circulation monetaire et fiduciaire (Paris: Imprimerie imperiale, 1867), vol. 3, p. 436.