Great Depression

The Great Depression describes the period of economic downturn that took place from 1929 until about 1939. This period led to high unemployment rates, lowered stock values and reduced levels of demand for production materials. This collection includes Federal Reserve System documents from the Board of Governors released during this time period and other economic papers and speeches on the topic.

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Investigation of Economic Problems: Hearings before the Committee on Finance, United States Senate, Seventy-Second Congress, Second Session, Pursuant to S. Res. 315

Investigation of Economic Problems: Hearings before the Committee on Finance, United States Senate, Seventy-Second Congress, Second Session, Pursuant to S. Res. 315


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Description:
Hearings before the Senate Committee on Finance, pursuant to S. Res. 315 "authorizing and directing the Finance Committee to make an investigation and study of the present economic problems of the United States with a view to securing constructive suggestions with respect to the solution of such problems." Chaired by Reed Smoot; hearings held from February 13 to 28, 1933.

It was at his testimony during these hearings that Marriner Eccles, at the time President of the First Security Corporation in Ogden, Utah, was recognized by government officials, which lead to Eccles being asked to take on the position of an assistant to Secretary of the Treasury Henry Morgenthau, Jr., and shortly thereafter was nominated by President Roosevelt for the position of Governor of the Federal Reserve Board.

SUDOC:
Y 4.F 49:Ec 7/

OCLC:
4350587

Citation:
Eccles, Marriner S. (Marriner Stoddard), 1890-1977 and United States. Congress. Senate. Committee on Finance, ([year]), Investigation of Economic Problems: Hearings before the Committee on Finance, United States Senate, Seventy-Second Congress, Second Session, Pursuant to S. Res. 315, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=176

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Date: 1933
Authors: Eccles, Marriner S. (Marriner Stoddard), 1890-1977, United States. Congress. Senate. Committee on Finance

Causes of the Present Depression and Possible Remedies

Causes of the Present Depression and Possible Remedies


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Description:
Winthrop W. Aldrich, chairman of the board and president of Chase National Bank from 1930 to 1953, was invited to speak on the Depression before the Finance Committee of the United States Senate in 1933. His statement follows.

OCLC:
2555960

Citation:
Aldrich, Winthrop W., ([year]), Causes of the Present Depression and Possible Remedies, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=124

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Date: 1933
Authors: Aldrich, Winthrop W.

Documents and Statements Pertaining to the Banking Emergency

Documents and Statements Pertaining to the Banking Emergency


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Description:
Documents and statements pertaining primarily to the emergency banking restrictions and regulations are presented as Part I of this publication, and material pertaining primarily to gold, currency, and foreign exchange is presented as Part II.

Citation:
United States. Congress, United States. Dept. of the Treasury and United States. President, ([year]), Documents and Statements Pertaining to the Banking Emergency, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=709

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Availability: 1933 to 1933
Authors: United States. Congress, United States. Dept. of the Treasury, United States. President

Regulations Relating to Licensing the Purchase and Export of Gold

Regulations Relating to Licensing the Purchase and Export of Gold


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OCLC:
42932323

Citation:
United States. Dept. of the Treasury, ([year]), Regulations Relating to Licensing the Purchase and Export of Gold, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=713

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Date: 1933
Authors: United States. Dept. of the Treasury

Gold Regulations Prescribed by the Secretary of the Treasury under Executive Order of August 28, 1933

Gold Regulations Prescribed by the Secretary of the Treasury under Executive Order of August 28, 1933


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Description:
Relating to the hoarding, export, and earmarking of gold coin, bullion, or currency and to transactions in foreign exchange.

OCLC:
6644980

Citation:
United States. Dept. of the Treasury, ([year]), Gold Regulations Prescribed by the Secretary of the Treasury under Executive Order of August 28, 1933, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=711

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Date: 1933
Authors: United States. Dept. of the Treasury

Interpretation of Banking Act of 1933

Interpretation of Banking Act of 1933


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Description:
Example of letter sent to the Federal Reserve Bank of Kansas City regarding savings pass book interest. Identical letters sent to all Federal Reserve Banks.

OCLC:
27715658

Citation:
United States. Dept. of the Treasury, ([year]), Interpretation of Banking Act of 1933, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=712

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Date: 1933
Authors: United States. Dept. of the Treasury

Debt-Deflation Theory of Great Depressions

Debt-Deflation Theory of Great Depressions


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Date:
Reproduced with permission.

Collection:
Meltzer, A History of the Federal Reserve Volume 1, 1913-1951

Volume:
1

ISSN:
0098-1699

Citation:
Fisher, Irving, 1933, Debt-Deflation Theory of Great Depressions, from Meltzer, A History of the Federal Reserve Volume 1, 1913-1951, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/meltzer/record.php?id=4252

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Date: 1933
Authors: Fisher, Irving

Causes of the Depression

Causes of the Depression


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Description:
Draft. Handwritten note in upper left corner. Document 6 from Lauchlin Currie Memoranda Index.

Date:
1934/xx/xx,

Collection:
The Marriner S. Eccles Document Collection

Citation:
Board of Governors of the Federal Reserve System (U.S.)?, 1934, Causes of the Depression, from The Marriner S. Eccles Document Collection, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/historical/eccles/072_02_0005.pdf

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Date: 1934
Authors: Board of Governors of the Federal Reserve System (U.S.)?

Bank Suspensions, 1892-1935

Bank Suspensions, 1892-1935


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Description:
This report appears to be similar to the report issued by the Bank Suspensions 1892-1931, issued as part of the series by the Federal Reserve Committee for Branch, Group, and Chain Banking. It does not actually refer to this series so it is posted as a single publication.

Citation:
Board of Governors of the Federal Reserve System (U.S.), ([year]), Bank Suspensions, 1892-1935, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=403

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Date: 1936
Authors: Board of Governors of the Federal Reserve System (U.S.)

President Hoover and the Depression

President Hoover and the Depression


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Date:
1936/xx/xx,

Collection:
The Marriner S. Eccles Document Collection

Citation:
Board of Governors of the Federal Reserve System (U.S.)?, 1936, President Hoover and the Depression, from The Marriner S. Eccles Document Collection, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/historical/eccles/007_09_0002.pdf

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Date: 1936
Authors: Board of Governors of the Federal Reserve System (U.S.)?

Areas of Intense Drought Distress, 1930-1936

Areas of Intense Drought Distress, 1930-1936


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Description:
Works Progress Administration Research Bulletin Series 5, Social Problems of the Drought Area, Number 1, prepared by Francis D. Cronin and Howard W. Beers. This bulletin outlines the area which has been most severely affected by the droughts of the 1930s.

SUDOC:
Y 3.W 89/2:13/5-1

OCLC:
4850040

Citation:
United States. Works Progress Administration, ([year]), Areas of Intense Drought Distress, 1930-1936, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=838

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Date: 1937
Authors: United States. Works Progress Administration

Branch and Group Banking

Branch and Group Banking


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Description:
In 1936, the Board of Governors of the Federal Reserve System organized a committee prepare studies on possible means of improvement of the existing banking structure. Various memoranda were created under the following topics: 1) Improvements in the organization, functions, and management of banking institutions and in supervisory methods. 2) Unification of the banking system. 3) Consolidation of the supervisory functions of various Federal agencies dealing with banks, including the lending or recapitalization functions of agencies which assist banks in difficulties. This document was produced in the course of proceedings of this bank suspension study.

Citation:
Board of Governors of the Federal Reserve System (U.S.), ([year]), Branch and Group Banking, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=685

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Date: 1937
Authors: Board of Governors of the Federal Reserve System (U.S.)

People of the Drought States

People of the Drought States


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Description:
Works Progress Administration Research Bulletin Series 5, Social Problems of the Drought Area, Number 2, prepared by Conrad Taeuber and Carl C. Taylor. This bulletin shows how the uncontrolled settlement of the drought area led to numerous problems of adjustment between the people and the natural resources. It also shows that there has been much movement of the people of that area. Recent migration out of the area is projected against the background of much movement in the past and the normal "export" of population.

SUDOC:
Y 3.W 89/2:13/5-2

OCLC:
3642892

Citation:
United States. Works Progress Administration, ([year]), People of the Drought States, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=837

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Date: 1937
Authors: United States. Works Progress Administration

Bank Suspension Study

Bank Suspension Study


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Description:
Memorandum discussing the history of the Bank Suspension Study, with a list of materials prepared as a result of the study.

In 1936, the Board of Governors of the Federal Reserve System organized a committee prepare studies on possible means of improvement of the existing banking structure. Various memoranda were created under the following topics: 1) Improvements in the organization, functions, and management of banking institutions and in supervisory methods. 2) Unification of the banking system. 3) Consolidation of the supervisory functions of various Federal agencies dealing with banks, including the lending or recapitalization functions of agencies which assist banks in difficulties. This document was produced in the course of proceedings of this bank suspension study.

Citation:
Board of Governors of the Federal Reserve System (U.S.), ([year]), Bank Suspension Study, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=684

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Availability: 1937 to 1938
Authors: Board of Governors of the Federal Reserve System (U.S.)

Relief and Rehabilitation in the Drought Area

Relief and Rehabilitation in the Drought Area


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Description:
Works Progress Administration Research Bulletin Series 5, Social Problems of the Drought Area, Number 3, prepared by Irene Link. This bulletin will deals with the efforts to relieve drought related distress during the 1930s.

SUDOC:
Y 3.W 89/2:13/5-3

OCLC:
17024570

Citation:
United States. Works Progress Administration, ([year]), Relief and Rehabilitation in the Drought Area, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=839

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Related Publications:

Date: 1937
Authors: United States. Works Progress Administration

Bank Suspensions, 1921-1936

Bank Suspensions, 1921-1936


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Description:
Published in the September 1937 issue of the Federal Reserve Bulletin.

In 1936, the Board of Governors of the Federal Reserve System organized a committee prepare studies on possible means of improvement of the existing banking structure. Various memoranda were created under the following topics: 1) Improvements in the organization, functions, and management of banking institutions and in supervisory methods. 2) Unification of the banking system. 3) Consolidation of the supervisory functions of various Federal agencies dealing with banks, including the lending or recapitalization functions of agencies which assist banks in difficulties. This document was produced in the course of proceedings of this bank suspension study.

Citation:
Board of Governors of the Federal Reserve System (U.S.), ([year]), Bank Suspensions, 1921-1936, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=683

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Date: 1937
Authors: Board of Governors of the Federal Reserve System (U.S.)

Changes in the Number of National and State Banks during 1921-1936

Changes in the Number of National and State Banks during 1921-1936


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Description:
Published in the November 1937 issue of the Federal Reserve Bulletin.

In 1936, the Board of Governors of the Federal Reserve System organized a committee prepare studies on possible means of improvement of the existing banking structure. Various memoranda were created under the following topics: 1) Improvements in the organization, functions, and management of banking institutions and in supervisory methods. 2) Unification of the banking system. 3) Consolidation of the supervisory functions of various Federal agencies dealing with banks, including the lending or recapitalization functions of agencies which assist banks in difficulties. This document was produced in the course of proceedings of this bank suspension study.

Citation:
Board of Governors of the Federal Reserve System (U.S.), ([year]), Changes in the Number of National and State Banks during 1921-1936, [issue title/date], accessed Jul 30, 2014 from FRASER, http:fraser.stlouisfed.org/publication/?pid=687

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Date: 1937
Authors: Board of Governors of the Federal Reserve System (U.S.)

Studies of the Causes of, and Remedies for, the Great Depression (1929): World Aspects

Studies of the Causes of, and Remedies for, the Great Depression (1929): World Aspects


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Description:
Bibliography

Date:
1956,

Collection:
Brookings Institution: Papers from the Committee on the History of the Federal Reserve

Citation:
Committee on the History of the Federal Reserve System, 1956, Studies of the Causes of, and Remedies for, the Great Depression (1929): World Aspects, from Brookings Institution: Papers from the Committee on the History of the Federal Reserve, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/historical/brookings/17628_03_0002.pdf

Authors:

Date: 1956
Authors: Committee on the History of the Federal Reserve System

Fiscal Measures in Depression and Recovery:

Fiscal Measures in Depression and Recovery:


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Description:
Bibliography

Date:
1956,

Collection:
Brookings Institution: Papers from the Committee on the History of the Federal Reserve

Citation:
Committee on the History of the Federal Reserve System, 1956, Fiscal Measures in Depression and Recovery:, from Brookings Institution: Papers from the Committee on the History of the Federal Reserve, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/historical/brookings/17620_03_0005.pdf

Authors:

Date: 1956
Authors: Committee on the History of the Federal Reserve System

Episodic Account of Particular Periods: The Great Depression

Episodic Account of Particular Periods: The Great Depression


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Description:
Bibliography

Date:
1956,

Collection:
Brookings Institution: Papers from the Committee on the History of the Federal Reserve

Citation:
Committee on the History of the Federal Reserve System, 1956, Episodic Account of Particular Periods: The Great Depression, from Brookings Institution: Papers from the Committee on the History of the Federal Reserve, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/historical/brookings/17624_06_0010.pdf

Authors:

Date: 1956
Authors: Committee on the History of the Federal Reserve System

Journal of Economic Perspectives: Spring 1993 - Employment and Unemployment in the 1930s

Journal of Economic Perspectives: Spring 1993 - Employment and Unemployment in the 1930s


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Publication:
Journal of Economic Perspectives

Description:
Author: Robert A. Margo

ISSN:
0895-3309

Citation:
([year]), Journal of Economic Perspectives: Spring 1993, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/meltzer/maremp93.pdf

Date: 1993

Journal of Economic Perspectives: Spring 1993 - Financial Factors in the Great Depression

Journal of Economic Perspectives: Spring 1993 - Financial Factors in the Great Depression


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Publication:
Journal of Economic Perspectives

Description:
Author: Charles W. Calomiris

ISSN:
0895-3309

Citation:
([year]), Journal of Economic Perspectives: Spring 1993, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/meltzer/calfin93.pdf

Date: 1993

Meaning of Money in the Great Depression

Meaning of Money in the Great Depression


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Date:
Reproduced with permission.

Collection:
Meltzer, A History of the Federal Reserve Volume 1, 1913-1951

OCLC:
29584304

Citation:
Rockoff, Hugh, 1993, Meaning of Money in the Great Depression, from Meltzer, A History of the Federal Reserve Volume 1, 1913-1951, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/meltzer/record.php?id=4230

Authors:

Date: 1993
Authors: Rockoff, Hugh

Statements and Speeches of Ben S. Bernanke: March 2, 2004 - Money, gold and the Great Depression

Statements and Speeches of Ben S. Bernanke: March 2, 2004 - Money, gold and the Great Depression


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Publication:
Statements and Speeches of Ben S. Bernanke

Description:
Remarks at the H. Parker Willis Lecture in Economic Policy, Washington and Lee University, Lexington, VA

Citation:
Bernanke, Ben and Board of Governors of the Federal Reserve System (U.S.), ([year]), Statements and Speeches of Ben S. Bernanke: March 2, 2004, accessed Jul 30, 2014 from FRASER, http://fraser.stlouisfed.org/docs/historical/bernanke/bernanke_20040302.pdf

Authors:

Date: 2004
Authors: Bernanke, Ben, Board of Governors of the Federal Reserve System (U.S.)