Great Northern Railway Company Papers. Part 1, 1862-1922
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Uncertainty and Hyperinflation: European Inflation Dynamics After World War I
FEDERAL RESERVE BANK OF SAN FRANCISCO WORKING PAPER SERIES Uncertainty and Hyperinflation: European Inflation Dynamics after World War I Jose A. Lopez Federal Reserve Bank of San Francisco Kris James Mitchener Santa Clara University CAGE, CEPR, CES-ifo & NBER June 2018 Working Paper 2018-06 https://www.frbsf.org/economic-research/publications/working-papers/2018/06/ Suggested citation: Lopez, Jose A., Kris James Mitchener. 2018. “Uncertainty and Hyperinflation: European Inflation Dynamics after World War I,” Federal Reserve Bank of San Francisco Working Paper 2018-06. https://doi.org/10.24148/wp2018-06 The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Federal Reserve Bank of San Francisco or the Board of Governors of the Federal Reserve System. Uncertainty and Hyperinflation: European Inflation Dynamics after World War I Jose A. Lopez Federal Reserve Bank of San Francisco Kris James Mitchener Santa Clara University CAGE, CEPR, CES-ifo & NBER* May 9, 2018 ABSTRACT. Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in pushing a subset of European countries into hyperinflation shortly after the end of the war. Germany, Austria, Poland, and Hungary (GAPH) suffered from frequent uncertainty shocks – and correspondingly high levels of uncertainty – caused by protracted political negotiations over reparations payments, the apportionment of the Austro-Hungarian debt, and border disputes. In contrast, other European countries exhibited lower levels of measured uncertainty between 1919 and 1925, allowing them more capacity with which to implement credible commitments to their fiscal and monetary policies. -
Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945
Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945. T939. 311 rolls. (~A complete list of rolls has been added.) Roll Volumes Dates 1 1-3 January-June, 1910 2 4-5 July-October, 1910 3 6-7 November, 1910-February, 1911 4 8-9 March-June, 1911 5 10-11 July-October, 1911 6 12-13 November, 1911-February, 1912 7 14-15 March-June, 1912 8 16-17 July-October, 1912 9 18-19 November, 1912-February, 1913 10 20-21 March-June, 1913 11 22-23 July-October, 1913 12 24-25 November, 1913-February, 1914 13 26 March-April, 1914 14 27 May-June, 1914 15 28-29 July-October, 1914 16 30-31 November, 1914-February, 1915 17 32 March-April, 1915 18 33 May-June, 1915 19 34-35 July-October, 1915 20 36-37 November, 1915-February, 1916 21 38-39 March-June, 1916 22 40-41 July-October, 1916 23 42-43 November, 1916-February, 1917 24 44 March-April, 1917 25 45 May-June, 1917 26 46 July-August, 1917 27 47 September-October, 1917 28 48 November-December, 1917 29 49-50 Jan. 1-Mar. 15, 1918 30 51-53 Mar. 16-Apr. 30, 1918 31 56-59 June 1-Aug. 15, 1918 32 60-64 Aug. 16-0ct. 31, 1918 33 65-69 Nov. 1', 1918-Jan. 15, 1919 34 70-73 Jan. 16-Mar. 31, 1919 35 74-77 April-May, 1919 36 78-79 June-July, 1919 37 80-81 August-September, 1919 38 82-83 October-November, 1919 39 84-85 December, 1919-January, 1920 40 86-87 February-March, 1920 41 88-89 April-May, 1920 42 90 June, 1920 43 91 July, 1920 44 92 August, 1920 45 93 September, 1920 46 94 October, 1920 47 95-96 November, 1920 48 97-98 December, 1920 49 99-100 Jan. -
The Debs Case: Labor, Capital, and the Federal Courts of the 1890S By
The Debs Case: Labor, Capital, and the Federal Courts of the 1890s by David Ray Papke, Professor of Law Marquette University Law School Revised by the Federal Judicial Center for inclusion in the project Federal Trials and Great Debates in United States History Federal Judicial Center Federal Judicial History Offi ce 2008 This Federal Judicial Center publication was undertaken in furtherance of the Centerʼs statutory mission to “conduct, coordinate, and encourage programs relating to the history of the judicial branch of the United States government.” The views expressed are those of the author and not necessarily those of the Federal Judicial Center. The Debs Case: Labor, Capital, and the Federal Courts of the 1890s Contents The Debs Case: A Short Narrative, 1 The town of Pullman, 1 A strike and boycott, 2 Management organizes, 3 Federal response, 4 A petition to the Supreme Court of the United States, 6 The Federal Courts and Their Jurisdiction, 9 U.S. Circuit Court for the Northern District of Illinois, 9 U.S. District Court for the Northern District of Illinois, 9 Supreme Court of the United States, 10 The Judicial Process: A Chronology, 11 Legal Questions Before the Courts, 13 Did the U.S. Circuit Court for the Northern District of Illinois have authority to issue an injunction against Eugene V. Debs and the offi cers of the American Railway Union? 13 Did the Sherman Anti-Trust Act of 1890 apply to labor unions as well as trusts and monopolies? 14 Did Eugene V. Debs and the other offi cers of the American Railway Union violate the injunction? 14 Did the U.S. -
Federal Reserve Bulletin October 1922
FEDERAL RESERVE BULLETIN (FINAL EDITION) ISSUED BY THE FEDERAL RESERVE BOARD AT WASHINGTON OCTOBER, 1922 WASHINGTON GOVERNMENT PRINTING OFFICE 1922 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FEDERAL RESERVE BOARD. Ex officio members: -, Governor. A. W. MELLON, EDMUND PLATT, Vice Governor. Secretary of the Treasury, Chairman. ADOLPH C. MILLER. D. R. CRISSINGER, CHARLES S. HAMLIN. Comptroller of the Currency. I JOHN R. MITCHELL. W. W. HOXTON, Secretary. j WALTER WYATT, General Counsel. W. L. EDDY, Assistant Secretary. j WALTER W. STEWART, I Director, Division of Analysis and Research. W. M. IMLAY, Fiscal Agent. M. JACOBSON, Statistician. J. F. HERSON, E. A. GOLDENWEISER, Associate Statistician. Chief, Division of Examination and Chief Federal E. L. SMEAD, Reserve Examiner. Chief, Division cf Bank Operations. FEDERAL ADVISORY COUNCIL. (For the year 1922.) DISTRICT NO. 1 (BOSTON) PHILIP STOCKTON. DISTRICT NO. 2 (NEW YORK) PAUL M. WARBURG, Vice President. DISTRICT NO. 3 (PHILADELPHIA) L. L. RUE, President. DISTRICT NO. 4 (CLEVELAND) CORLISS E. SULLIVAN. DISTRICT NO. 5 (RICHMOND) J. G. BROWN. DISTRICT NO. 6 (ATLANTA) EDWARD W. LANE. DISTRICT NO. 7 (CHICAGO) „ JOHN J. MITCHELL. DISTRICT NO. 8 (ST. LOUIS) FESTUS J. WADE. DISTRICT NO. 9 (MINNEAPOLIS) G. II. PRINCE. DISTRICT NO. 10 (KANSAS CITY) E. F. SWINNEY. DISTRICT NO. 11 (DALLAS) R. L. BALL. DISTRICT NO. 12 (SAN FRANCISCO) D. W. TWOHY. II Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OFFICERS OF FEDERAL RESERVE BANKS. Federal Reserve Bank of— | Chairman. Governor. Deputy governor. Cashier. Boston Frederic H. Curtiss.. Chas. A. Mores C. -
1880S-1890S 1900S 1910S
Handout 3 - American Labor and Working-Class History, 1886-1944 1880s-1890s 1900s 1910s 1886: Industrial workers rally in Chicago’s 1901: With a platform of representing workers, 1911: In New York City, The Triangle Shirtwaist Haymarket Square to protest dangerous the Socialist Party of America (SP) forms and Factory Fire kills 146 garment workers, mostly working conditions. During the rally, someone grows in popularity, reaching over three women. Afterwards, immigrant Clara Lemlich throws a bomb at police officers, who respond thousand local branches and 42 states. surprises union leaders by initiating a strike of by opening fire on the crowd. Known as the around 20,000 garment workers. The striker’s Haymarket Riot, the protest divided Americans: 1902: After having their demands ignored, demands for higher pay, shorter working hours, some saw the striking workers as oppressed, miners in Pennsylvania go on strike, initiating a and better working conditions were eventually others as agitators. national coal crisis. President Theodore Roosevelt met. intervenes, and 5 months later the strike is 1886: The American Federation of Labor (AFL) forms resolved, with miners receiving a better salary 1914: The Colorado National Guard fires upon from a loose organization of craft unions, with and a shorter workday. After the 1902 Coal a striking miner camp in Ludlow, killing eleven the goal of representing skilled laborers. Strike, the president develops his “Square Deal” children and two women. As news of the Ludlow policy, which emphasizes the government’s Massacre spread, miners took up arms against 1890: The United Mine Workers of America (UMWA) role in mediating between industry and labor so the mining companies, while many criticized forms. -
Germany 1919-1941 U.S
U.S. MILITARY INTELLIGENCE REPORTS : GERMANY 1919-1941 U.S. MILITARY INTELLIGENCE REPORTS: GERMANY, 1919-1941 Edited by Dale Reynolds Guide Compiled by Robert Lester A Microfilm Project of UNIVERSITY PUBLICATIONS OF AMERICA, INC. 44 North Market Street • Frederick, MD 21701 Copyright© 1983 by University Publications of America, Inc. All rights reserved. ISBN 0-89093^26-6. Note on Sources The Documents in this Collection are from the National Archives and Record Service, Washington, D.C., Record Group #165. Mil- itary Intelligence Division Files: Germany. TABLE OF CONTENTS Red Index 1 Reel I 1 Reel II 6 Reel III 10 Reel IV 15 Reel V 18 Reel VI 22 Reel VII 25 Reel VIII 29 Reel IX 31 Reel X 33 Reel XI 33 Reel XII 34 Reel XIII 35 Reel XIV 38 Reel XV 39 Reel XVI 41 Reel XVII 43 Reel XVIII 45 Reel XIX 47 Reel XX 49 Reel XXI 52 Reel XXII 54 Reel XXIII 56 Reel XXIV 58 Reel XXV 61 Reel XXVI 63 Reel XXVII 65 Reel XXVIII 68 Subject Index 71 Dates to Remember February 3,1917 Severance of U.S. Diplomatic Relations with Germany; Declara- tion of War November 11,1918 Armistice December 1, 1918 U.S. Troops of the 3rd Army cross the Rhine and Occupy the Rhine Province July 2,1919 Departure of the U.S. 3rd Army; the U.S. Army of the Rhine Occupies Coblenz in the Rhine Province December 10, 1921 Presentation of Credentials of the U.S. Charge d'Affaires in Berlin April 22, 1922 Withdrawal of U.S. -
The Ends of Four Big Inflations
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Inflation: Causes and Effects Volume Author/Editor: Robert E. Hall Volume Publisher: University of Chicago Press Volume ISBN: 0-226-31323-9 Volume URL: http://www.nber.org/books/hall82-1 Publication Date: 1982 Chapter Title: The Ends of Four Big Inflations Chapter Author: Thomas J. Sargent Chapter URL: http://www.nber.org/chapters/c11452 Chapter pages in book: (p. 41 - 98) The Ends of Four Big Inflations Thomas J. Sargent 2.1 Introduction Since the middle 1960s, many Western economies have experienced persistent and growing rates of inflation. Some prominent economists and statesmen have become convinced that this inflation has a stubborn, self-sustaining momentum and that either it simply is not susceptible to cure by conventional measures of monetary and fiscal restraint or, in terms of the consequent widespread and sustained unemployment, the cost of eradicating inflation by monetary and fiscal measures would be prohibitively high. It is often claimed that there is an underlying rate of inflation which responds slowly, if at all, to restrictive monetary and fiscal measures.1 Evidently, this underlying rate of inflation is the rate of inflation that firms and workers have come to expect will prevail in the future. There is momentum in this process because firms and workers supposedly form their expectations by extrapolating past rates of inflation into the future. If this is true, the years from the middle 1960s to the early 1980s have left firms and workers with a legacy of high expected rates of inflation which promise to respond only slowly, if at all, to restrictive monetary and fiscal policy actions. -
British Banking in 1924
February 1925 98 FEDERAL RESERVE BULLETIN FEBRUARY, 1925 BRITISH BANKING IN 1924 London clearing banks.—Increased activity bills outstanding declined from £716,000,000 in of industry and trade in Great Britain during September, 1922, to £633,000,000 at the end of the year just ended was reflected in a growth 1924, and it is therefore probable that the of advances at the nine London clearing banks proportion of these bills in the total bill hold- from £757,000,000 in December, 1923, toings of the clearing banks is now smaller than £811,000,000 in November, 1924. This in- 28 months earlier, and that a correspondingly creased use of bank credit to finance current larger proportion represents commercial bor- operations of British domestic business has rowing. The combined volume of advances, been fairly continuous since the autumn of discounts, and investments of these banks has 1922, and the funds required for meeting this changed relatively little for two years, and demand have been obtained by the London the net change in the volume of their deposits banks largely through the reduction of their has also been comparatively small. Thus it is holdings of investment securities and of dis- evident that the increased demand for credit counted Treasury bills. Between September, for commercial purposes arising from the im- 1922, and November, 1924, investments of the provement in JBritish industry and trade clearing banks declined from £382,000,000 to since the autumn of 1922 has been met by the £307,000,000, and their discounts, in which London clearing banks without an increase in discounted Treasury bills are included, de- their total credit outstanding largely through creased from £296,000,000 to £234,000,000. -
The Times Supplements, 1910-1917
The Times Supplements, 1910-1917 Peter O’Connor Musashino University, Tokyo Peter Robinson Japan Women’s University, Tokyo 1 Overview of the collection Geographical Supplements – The Times South America Supplements, (44 [43]1 issues, 752 pages) – The Times Russian Supplements, (28 [27] issues, 576 pages) – The Japanese Supplements, (6 issues, 176 pages) – The Spanish Supplement , (36 pages, single issue) – The Norwegian Supplement , (24 pages, single issue) Supplements Associated with World War I – The French Yellow Book (19 Dec 1914, 32 pages) – The Red Cross Supplement (21 Oct 1915, 32 pages) – The Recruiting Supplement (3 Nov 1915, 16 pages) – War Poems from The Times, August 1914-1915 (9 August 1915, 16 pages) Special Supplements – The Divorce Commission Supplement (13 Nov 1912, 8 pages) – The Marconi Scandal Supplement (14 Jun 1913, 8 pages) 2 Background The Times Supplements published in this series comprise eighty-five largely geographically-based supplements, complemented by significant groups and single-issue supplements on domestic and international political topics, of which 83 are published here. Alfred Harmsworth, Lord Northcliffe (1865-1922), acquired The Times newspaper in 1908. In adding the most influential and reliable voice of the British establishment and of Imperially- fostered globalisation to his growing portfolio of newspapers and magazines, Northcliffe aroused some opposition among those who feared that he would rely on his seemingly infallible ear for the popular note and lower the tone and weaken the authority of The Times. Northcliffe had long hoped to prise this trophy from the control of the Walters family, convinced of his ability to make more of the paper than they had, and from the beginning applied his singular energy and intuition to improving the fortunes of ‘The Thunderer’. -
American Opinion of the Soviet/Vatican Struggle 1917-1933
University of Central Florida STARS Retrospective Theses and Dissertations 1988 American opinion of the soviet/vatican struggle 1917-1933 Jeffrey P. Begeal University of Central Florida Part of the History Commons Find similar works at: https://stars.library.ucf.edu/rtd University of Central Florida Libraries http://library.ucf.edu This Masters Thesis (Open Access) is brought to you for free and open access by STARS. It has been accepted for inclusion in Retrospective Theses and Dissertations by an authorized administrator of STARS. For more information, please contact [email protected]. STARS Citation Begeal, Jeffrey P., "American opinion of the soviet/vatican struggle 1917-1933" (1988). Retrospective Theses and Dissertations. 4260. https://stars.library.ucf.edu/rtd/4260 AMERICA N CPJ}:-TON· Of· THE SOVIET/VATI CAN STRUGGLE 1917-1933 BY JEFFREY PAUL BEGEAL B.A., Mercer University, 1982 THESIS .Submi.·ct~!d. in partial fulfillment of the requirements f o r the Master of Arts dEgree in History in the Graduate Studies Program of the College of Arts and Sciences University of Central Florida Orlando, Florida Fall Term 1988 TABLE OF CONTENTS Preface -·················· .,.,. • 1o1 ••··· .. ··•• »••···.,······ iii Chapter I. THE REVOLUTION OF MARCH 1917 ................ 1 II. THE REVOLUTION OF NOVEMBER 1917 .............. 12 III. THE GENOA CONFERENCE, 1922 .................. 26 IV. THE CATHOLIC CLERGY TRIAL, 1923 .. .......... 41 v. THE FAMINE RELIEF MISSION OF 1921-1924 ...... 56 VI. THE PRAYER CRUSADE OF 1930 .................. 65 VII. THE RECOGNITION DEBATE, 1933 ................ 78 Conclusion . 91 NOTES . 96 APPENDIX I WALSH TO CREEDEN, 27 SEPTEMBER 1923 . ..... 105 APPENDIX II WORKS CONSULTED .......................... 108 WORKS CITED 114 PREFACE The first sixteen years of the history of Soviet/ Vatican relaticns represented one of the most profound ideological and political struggles of the twentieth century. -
The 1894 Pullman Strike in St. Paul Lewis, George A
The 1894 Pullman Strike and the Death of Switchman Charles Luth Page 14 Fall 2006 Volume 41, Number 3 A Little-Known Railway That Couldn’t The St. Paul Southern —Page 4 Looking west from the Robert Street Bridge, this 1920s photo shows a St. Paul Southern car headed outbound for South St. Paul and Hastings. Between 1900 and 1910 the combined population of these two Dakota County communities increased 38.5%, encouraging construction of the interurban. But the line’s ambitions to build on to Cannon Falls and Rochester went unfulfilled, and it eventually succumbed to automobile and bus competition. Photograph courtesy of the Minnesota Transportation Museum. See John Diers’s article beginning on page 4. History Fall 06.pdf 1 11/28/06 11:25:26 AM RAMSEY COUNTY HISTORY Executive Director RAMSEY COUNTY Priscilla Farnham Founding Editor (1964–2006) Virginia Brainard Kunz Editor Hıstory John M. Lindley Volume 41, Number 3 Fall 2006 RAMSEY COUNTY HISTORICAL SOCIETY the mission statement of the ramsey county historical society BOARD OF DIRECTORS adopted by the board of directors in July 2003: Howard Guthmann Chair The Ramsey County Historical Society shall discover, collect, W. Andrew Boss preserve and interpret the history of the county for the general public, President recreate the historical context in which we live and work, and make Judith Frost Lewis First Vice President available the historical resources of the county. The Society’s major Paul A. Verret responsibility is its stewardship over this history. Second Vice President Joan Higinbotham Secretary C O N T E N T S J. -
Representations of Gender and Age in the 1920S
JOURNALHirshbein / THEOF FAMILY FLAPPER HISTORY AND THE / January FOGY 2001 THE FLAPPER AND THE FOGY: REPRESENTATIONS OF GENDER AND AGE IN THE 1920S Laura Davidow Hirshbein In the 1920s in the United States, public attention was riveted on the antics of a new, rebellious younger generation. Although popular representations focused on youth in crisis, these representations emphasized comparisons between young and old. This article explores the public discussions about youth culture in the 1920s and how they helped to refine cultural categories of youth and old age. In addition, through gender-specific representations, social commentators worked out new definitions of masculinity, femininity, and the relationships between the sexes. Furthermore, the rhetorical conflict between generations of Americans helped to frame important contemporary questions about national identity. In the 1920s in the United States, public attention was riveted on the represented antics of a new, rebellious younger generation. Within the mass culture of the burgeoning magazine and movie industries, as well as the new medium of motion pictures and expansions in advertising, one of the hottest topics of the time was youth.1 Commenta- tors of the time wrote extensively on whether or not the younger generation was lead- ing society toward progress or toward destruction. But while the ostensible topic of these discussions was the behavior of young people, popular representations of youth in crisis depended on a constant series of comparisons between young and old. In this article, I explore the discussions of youth that appeared in popular magazines in the 1920s. I focus on the definitions of youth and old age that emerged from these public discussions, as well as the implications for gender standards and national iden- tity.