630 Panama Canal Treaty of 1977

shall so be interpreted, to assure the transit of such ves- (3) The President— sels through the Canal as quickly as possible, without (A) shall have announced, before the date of entry any impediment, with expedited treatment, and in into force of the Treaty, his intention to transfer,

case of need or emergency, to go to the head of the line consistent with an agreement with the Republic of vessels in order to transit the Canal rapidly.’’’ of Panama, and before the date of termination of the Panama Canal Treaty, to the American Battle (b) CONDITIONS: Monuments Commission the administration of (1) Notwithstanding the provisions of Article V or any such part of Corozal Cemetery as encompasses other provision of the Treaty, if the Canal is closed, or the remains of citizens of the United States of its operations are interfered with, the United States of America; and America and the Republic of Panama shall each inde- (B) shall have announced, immediately after the date pendently have the right to take such steps as each of exchange of instruments of ratification, plans, deems necessary, in accordance with its constitutional to be carried out at the expense of the Govern- processes, including the use of military force in the ment of the United States of America, for Republic of Panama, to reopen the Canal or restore (i) removing, before the date of entry into force the operations of the Canal, as the case may be. of the Treaty, the remains of citizens of the (2) The instruments of ratification of the Treaty shall be United States of America from Mount Hope exchanged only upon the conclusion of a Protocol of Cemetery to such part of Corozal Cemetery Exchange, to be signed by authorized representatives as encompasses such remains, except that of both Governments, which shall constitute an inte- the remains of any citizen whose next of kin gral part of the Treaty documents and which shall objects in writing to the Secretary of the include the following: Army not later than three months after the “Nothing in the Treaty shall preclude the Republic of date of exchange of the instruments of rati- Panama and the United States of America from mak- fication of the Treaty shall not be removed; ing, in accordance with their respective constitutional and processes, any agreement or arrangement between the (ii) transporting to the United States of Amer- two countries to facilitate performance at any time ica for reinterment, if the next of kin so re- after December 31, 1999, of their responsibilities to quests, not later than thirty months after maintain the regime of neutrality established in the the date of entry into force of the Treaty, Treaty, including agreements or arrangements for the any such remains encompassed by Corozal stationing of any United States military forces or the Cemetery and, before the date of entry into maintenance of defense sites after that date in the force of the Treaty, any remains removed Republic of Panama that the Republic of Panama and from Mount Hope Cemetery pursuant to the United States of America may deem necessary or subclause (i); and appropriate.” (C) shall have fully advised, before the date of entry (c) RESERVATIONS: into force of the Treaty, the next of kin objecting 1) Before the date of entry into force of the Treaty, the under clause (B) (i) of all available options and two Parties shall begin to negotiate for an agreement their implications. under which the American Battle Monuments (4) To carry out the purposes of Article III of the Treaty Commission would, upon the date of entry into force of assuring the security, efficiency, and proper main- of such agreement and thereafter, administer, free of tenance of the Panama Canal, the United States of all taxes and other charges and without compensation America and the Republic of Panama, during their to the Republic of Panama and in accordance with the respective periods of responsibility for Canal opera- practices, privileges, and immunities associated with tion and maintenance, shall, unless the amount of the the administration of cemeteries outside the United operating revenues of the Canal exceeds the amount States of America by the American Battle Monuments needed to carry out the purposes of such Article, use Commission, including the display of the flag of the such revenues of the Canal only for purposes consis- United States of America, such part of Corozal tent with the purposes of Article III. Cemetery in the former Canal Zone as encompasses the remains of citizens of the United States of (d) UNDERSTANDING: America. (1) Paragraph 1 (c) of Article III of the Treaty shall be (2) The flag of the United States of America may be dis- construed as requiring, before any adjustment in tolls played, pursuant to the provisions of paragraph 3 of for use of the Canal, that the effects of any such toll Article VII of the Panama Canal Treaty, at such part of adjustment on the trade patterns of the two Parties Corozal Cemetery in the former Canal Zone as shall be given full consideration, including considera- encompasses the remains of citizens of the United tion of the following factors in a manner consistent States of America. with the regime of neutrality:

Panama Canal Treaty of 1977 631

(A) the costs of operating and maintaining the (3) The determination of “need or emergency” for the Panama Canal; purpose of any vessel of war or auxiliary vessel of the (B) the competitive position of the use of the Canal United States of America or the Republic of Panama

in relation to other means of transportation; going to the head of the line of vessels in order to (C) the interests of both Parties in maintaining their transit the Panama Canal rapidly shall be made by the domestic fleets; nation operating such vessel. (D) the impact of such an adjustment on the various (4) Nothing in the Treaty, in Annex A or B thereto, in the geographic areas of each of the two Parties; and Protocol relating to the Treaty, or in any other agree- (E) the interests of both Parties in maximizing their ment relating to the Treaty, obligates the United States international commerce. The United States of of America to provide any economic assistance, mili- America and the Republic of Panama shall coop- tary grant assistance, security supporting assistance, erate in exchanging information necessary for the foreign military sales credits, or international military consideration of such factors. education and training to the Republic of Panama. (2) The agreement “to maintain the regime of neutrality (5) The President shall include all amendments, condi- established in this Treaty” in Article IV of the Treaty tions, reservations, and understandings incorporated means that either of the two Parties to the Treaty may, by the Senate in this resolution of ratification in the in accordance with its constitutional processes, take instrument of ratification to be exchanged with the unilateral action to defend the Panama Canal against Government of the Republic of Panama. any threat, as determined by the Party taking such action.

Ronald Reagan’s Remarks and a Question and Answer Session with Reporters on the Air Traffic Controllers’ Strike (1981)

During the Pullman Strike of 1894 the government forced reported to work because,“How can I ask my kids to obey the American Railway Union members, who the U.S. attorney law if I don’t?” This is a great tribute to America. general claimed had violated the Sherman Anti-Trust Act, to Let me make one thing plain. I respect the right of work- return to work after the railway system had been shut down ers in the private sector to strike. Indeed, as president of my when all employees joined the strike. The importance of the own union, I led the first strike ever called by that union. I transportation system caused the government to intercede. guess I’m maybe the first one to ever hold this office who is a The same problem occurred in 1981 when members of the lifetime member of an AFL-CIO union. But we cannot com- Air Traffic Controllers Union, in violation of their contract, pare labor-management relations in the private sector with called for a strike, a tactic that would have grounded all government. Government cannot close down the assembly planes in the United States. President Ronald Reagan warned line. It has to provide without interruption the protective the union that he would fire all air traffic controllers who services which are government’s reason for being. went out on strike and he did so when they ignored his It was in recognition of this that the Congress passed a law warning; he explained his actions in a press conference on forbidding strikes by government employees against the pub- August 3, 1981. lic safety. Let me read the solemn oath taken by each of these employees, a sworn affidavit, when they accepted their jobs: Source: http://www.reagan/utexas.edu/resource/speeches/ “I am not participating in any strike against the Government 1981/8038/a.htm. of the United States or any agency thereof, and I will not so participate while an employee of the Government of the August 3, 1981 United States or any agency thereof.” The President. This morning at 7 A.M. the union represent- It is for this reason that I must tell those who fail to report ing those who man America’s air traffic control facilities for duty this morning they are in violation of the law, and if called a strike. This was the culmination of 7 months of nego- they do not report for work within 48 hours, they have for- tiations between the Federal Aviation Administration and the feited their jobs and will be terminated. union. At one point in these negotiations agreement was Q[uestion]. Mr. President, are you going to order any reached and signed by both sides, granting a $40 million union members who violate the law to go to jail? increase in salaries and benefits. This is twice what other gov- The President. Well, I have some people around here, and ernment employees can expect. It was granted in recognition maybe I should refer that question to the Attorney General. of the difficulties inherent in the work these people perform. Q[uestion]. Do you think that they should go to jail, Mr. Now, however, the union demands are 17 times what had President, anybody who violates this law? been agreed to—$681 million. This would impose a tax bur- The President. I told you what I think should be done. den on their fellow citizens which is unacceptable. They’re terminated. I would like to thank the supervisors and controllers who The Attorney General: Well, as the President has said, strik- are on the job today, helping to get the nation’s air system ing under these circumstances constitutes a violation of the operating safely. In the New York area, for example, four law, and we intend to initiate in appropriate cases criminal supervisors were scheduled to report for work, and 17 addi- proceedings against those who have violated the law. tionally volunteered. At National Airport a traffic controller Q[uestion]. How quickly will you initiate criminal pro- told a newsperson he had resigned from the union and ceedings, Mr. Attorney General?

632

Ronald Reagan’s Remarks on the Air Traffic Controllers’ Strike 633

The Attorney General: We will initiate those proceedings as The Attorney General. Well, we will seek whatever penalty soon as we can. is appropriate under the circumstances in each individual Q[uestion]. Today? case.

The Attorney General: The process will be underway prob- Q[uestion]. Do you think that is an appropriate circum- ably by noon today. stance? Q[uestion]. Are you going to try and fine the union $1 mil- The Attorney General. It is certainly one of the penalties lion per day? that is provided for in the law, and in appropriate cases, we The Attorney General: Well, that’s the prerogative of the could very well seek that penalty. court. In the event that any individuals are found guilty of Q[uestion]. What’s appropriate? contempt of a court order, the penalty for that, of course, is The Attorney General. Well, that depends upon the fact of imposed by the court. each case. Q[uestion]. How much more is the government prepared Q[uestion]. What makes the difference? to offer the union? Q[uestion]. Can I go back to my “fine” question? How The Secretary of Transportation. We think we had a very much would you like to see the union fined every day? satisfactory offer on the table. It’s twice what other The Attorney General. Well, there’s no way to answer that Government employees are going to get—11.4 percent. Their question. We would just have to wait until we get into court, demands were so unreasonable there was no spot to negoti- see what the circumstances are, and determine what position ate, when you’re talking to somebody 17 times away from we would take in the various cases under the facts as they where you presently are. We do not plan to increase our offer develop. to the union. Q[uestion]. But you won’t go to court and ask the court for Q[uestion]. Under no circumstances? a specific amount? The Secretary of Transportation. As far as I’m concerned, The Attorney General. Well, I’m sure we will when we reach under no circumstance. that point, but there’s no way to pick a figure now. Q[uestion]. Will you continue to meet with them? Q[uestion]. Mr. President, will you delay your trip to The Secretary of Transportation. We will not meet with the California or cancel it if the strike is still on later this week? union as long as they’re on strike. When they’re off of strike, The President. If any situation should arise that would and assuming that they are not decertified, we will meet with require my presence here, naturally I will do that. So, that will the union and try to negotiate a satisfactory contract. be a decision that awaits what’s going to happen. May I just— Q[uestion]. Do you have any idea how it’s going at the air- because I have to be back in there for another appointment— ports around the country? may I just say one thing on top of this? With all this talk of The Secretary of Transportation. Relatively, it’s going quite penalties and everything else, I hope that you’ll emphasize, well. We’re operating somewhat in excess of 50 percent capac- again, the possibility of termination, because I believe that ity. We could increase that. We have determined, until we feel there are a great many of those people—and they’re fine peo- we’re in total control of the system, that we will not increase ple—who have been swept up in this and probably have not that. Also, as you probably know, we have some rather severe really considered the result—the fact that they had taken an weather in the Midwest, and our first priority is safety. oath, the fact that this is now in violation of the law, as that Q[uestion]. What can you tell us about possible decertifi- one supervisor referred to with regard to his children. And I cation of the union and impoundment of its strike funds? am hoping that they will in a sense remove themselves from The Secretary of Transportation. There has been a court the lawbreaker situation by returning to their posts. action to impound the strike fund of $3.5 million. We are I have no way to know whether this had been conveyed to going before the National Labor Relations Authority this them by their union leaders, who had been informed that this morning and ask for decertification of the union. would be the result of a strike. Q[uestion]. When you say that you’re not going to increase Q[uestion]. Your deadline is 7 o’clock Wednesday morning your offer, are you referring to the original offer or the last for them to return to work? offer which you’ve made? Is that still valid? The President. Forty-eight hours. The Secretary of Transportation. The last offer we made in The Secretary of Transportation. It’s 11 o’clock Wednesday present value was exactly the same as the first offer. Mr. Poli morning. (Robert Poli, Professional Air Traffic Controllers Organi- Q[uestion]. Mr. President, why have you taken such strong zation) asked me about 11 o’clock last evening if he could action as your first action? Why not some lesser action at this phase the increase in over a period of time. For that reason, point? we phased it in over a longer period of time. It would have The President. What lesser action can there be? The law is given him a larger increase in terms of where he would be very explicit. They are violating the law. And as I say, we called when the next negotiations started, but in present value it was this to the attention of their leadership. Whether this was the $40 million originally on the table. conveyed to the membership before they voted to strike, I Q[uestion]. Mr. Attorney General, in seeking criminal don’t know. But this is one of the reasons why there can be no action against the union leaders, will you seek to put them in further negotiation while this situation continues. You can’t jail if they do not order these people back to work? sit and negotiate with a union that’s in violation of the law.

634 Ronald Reagan’s Remarks on the Air Traffic Controllers’ Strike

The Secretary of Transportation. And their oath. Q[uestion]. Mr. Secretary, you said no negotiations. What The President. And their oath. about informal meetings of any kind with Mr. Poli? Q[uestion]. Are you more likely to proceed in the criminal The Secretary of Transportation. We will have no meetings direction toward the leadership than the rank and file, Mr. until the strike is terminated with the union. President? Q[uestion]. Have you served Poli at this point? Has he The President. Well, that again is not for me to answer. been served by the Attorney General? Q[uestion]. Mr. Secretary, what can you tell us about the The Attorney General. In the civil action that was filed this possible use of military air controllers—how many, how morning, the service was made on the attorney for the union, quickly can they get on the job? and the court has determined that that was appropriate ser- The Secretary of Transportation. In answer to the previous vice on all of the officers of the union. question, we will move both civil and criminal, probably Q[uestion]. My previous question about whether you’re more civil than criminal, and we now have papers in the U.S. going to take a harder line on the leadership than rank and attorneys offices, under the Attorney General, in about 20 file in terms of any criminal prosecution, can you give us an locations around the country where would be involved two answer on that? or three principal people. The Attorney General. No,I can’t answer that except to say As far as the military personnel are concerned, they are that each case will be investigated on its own merits, and going to fundamentally be backup to the supervisory person- action will be taken as appropriate in each of those cases. nel. We had 150 on the job, supposedly, about a half-hour Q[uestion]. Mr. Lewis, do you know how many applica- ago. We’re going to increase that to somewhere between 700 tions for controller jobs you have on file now? and 850. The Secretary of Transportation. I do not know. I’m going Q[uestion]. Mr. Secretary, are you ready to hire other peo- to check when I get back. I am aware there’s a waiting list, and ple should these other people not return? I do not have the figure. If you care to have that, you can call The Secretary of Transportation. Yes, we will, and we hope our office, and we’ll tell you. Also, we’ll be advertising and we do not reach that point. Again as the President said, we’re recruiting people for this job if necessary. hoping these people come back to work. They do a fine job. Q[uestion]. Mr. Secretary, how long are you prepared to If that does not take place, we have a training school, as you hold out if there’s a partial but not complete strike? know. We will be advertising. We have a number of applicants The Secretary of Transportation. I think the President made right now. There’s a waiting list in terms of people that want it very clear that as of 48 hours from now, if the people are to be controllers, and we’ll start retraining and reorganize the not back on the job, they will not be government employees entire FAA traffic controller group. at any time in the future. Q[uestion]. Just to clarify, is your deadline 7 A.M. Q[uestion]. How long are you prepared to run the air con- Wednedsay or 11 o’clock? troller system—[inaudible]? The Secretary of Transportation. It’s 11 A.M.Wednesday. The Secretary of Transportation. For years, if we have to. The President said 48 hours, and that would be 48 hours. Q[uestion]. How long does it take to train a new controller, Q[uestion]. If you actually fire these people, won’t it put from the waiting list? your air traffic control system in a hole for years to come, The Secretary of Transportation. It varies; it depends on the since you can’t just cook up a controller in—[inaudible]? type of center they’re going to be in. For someone to start in The Secretary of Transportation. That obviously depends the system and work through the more minor office types of on how many return to work. Right now we’re able to oper- control situations till they get to, let’s say, a Chicago or a ate the system. In some areas, we’ve been very gratified by the Washington National, it takes about 3 years. So in this case, support we’ve received. In other areas, we’ve been disap- what we’ll have to do if some of the major metropolitan areas pointed. And until I see the numbers, there’s no way I can are shut down or a considerable portion is shut down, we’ll answer that question. be bringing people in from other areas that are qualified and Q[uestion]. Mr. Lewis, did you tell the union leadership then start bringing people through the training schools in the when you were talking to them that their members would be smaller cities and smaller airports. fired if they went out on strike? Q[uestion]. Mr. Secretary, have you definitely made your The Secretary of Transportation. I told Mr. Poli yesterday final offer to the union? that the President gave me three instructions in terms of the The Secretary of Transportation. Yes, we have. firmness of the negotiations: one is there would be no Q[uestion]. Thank you. amnesty; the second there would be no negotiations during NOTE: The President read the statement to reporters at the strike; and third is that if they went on strike, these peo- 10:55 A.M. in the Rose Garden at the White House. ple would no longer be government employees.

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About the Editor and Contributors

Editor Lisa A. Ennis is a librarian in the Russell Library at Geor- Cynthia Clark Northrup, Ph.D., teaches at the University of gia College and State University, Milledgeville, Georgia. Texas at Arlington in Arlington, Texas. Her field of specializa- Ann Harper Fender is a Professor in the Economics De- tion is modern U.S. history with an emphasis on political and partment at Gettysburg, College, Gettysburg, Pennsylvania. economic issues. Brooks Flippen is an Associate Professor in the Department of Social Sciences at Southeastern Oklahoma State Univer- sity, Durant, Oklahoma. Contributors David T. Flynn is an Assistant Professor in the Economics Albert Atkins is a Professor in the Business Department at Department at the University of North Dakota, Grand Forks, Argosy University, Orange, California. North Dakota. Dalit Baranoff is a Ph.D. student in the History Depart- Mathew Forstater is an Assistant Professor in the Depart- ment at Johns Hopkins University, Baltimore, Maryland. ment of Economics, University of Missouri, Kansas City, Mis- John Barnhill is a civil servant and independent scholar in souri. Yukon, Oklahoma. John K. Franklin is an Adjunct Instructor in the Humani- Daniel K. Blewett is a reference librarian, College of Du- ties Department at Graceland University, Lamori, Iowa. Page, Glen Ellyn, Illinois. Mark Frezzo is a Ph.D. candidate in the Sociology Depart- Julie A. Bogdan is an independent historian residing in ment at Binghampton University, Binghampton, New York, Herkimer, New York. and is a Lecturer in Sociology and Geography at SUNY, Cort- John D. Buenker is a Professor of History and Ethnic Stud- land. ies in the History Department at the University of Wisconsin- W. Chad Futrell is a Ph.D. student in the Development So- Parkside, Kenosha, Wisconsin. ciology Department at Cornell University, Ithaca, New York. James T. Carroll is an Associate Professor of History at Iona Peter S. Genovese is a Ph.D. student in the History Depart- College, New Rochelle, New York. ment at Bowling Green State University, Bowling Green, Susan Coleman is an Instructor of Political Science in the Ohio. Department of History and Political Science at West Texas Eli Goldstein is a Ph.D. candidate in the Department of A&M University, Canyon, Texas. Economics at Bar-Ilan University, Rishion Le-Zion, Israel. Robert C. Cottrell is a Professor in the History and Ameri- Robert Herren is a Professor of Agribusiness and Applied can Studies Department at California State University, Chico, Economics in the Economics Department at North Dakota California. State University, Fargo, North Dakota. Deana Covel is an M.A. student in the History Department Charles F. Howlett is an Adjunct Professor at Adelphi Uni- at the University of Texas at Arlington, Arlington, Texas. versity, West Islip, New York, and an advanced placement Joseph A. Devine is a Professor in the History Department teacher for the Amityville Public Schools, New York Public at Stephen F. Austin State University, Nacogdoches, Texas. Schools. Robert Dimand is a Professor in the Economics Depart- Ann Johnson is an Assistant Professor in the History De- ment at Brock University, Saint Catharines, Ontario, Canada. partment at Fordham University, New York City. Scott R. DiMarco is Director of Library Services at Russell Douglass Jones is a Lecturer in the History and Phi- Herkimer County Community College in Herkimer, New losophy Department at Eastern Michigan University, Ypsi- York. lanti, Michigan.

665

666 About the Editor and Contributors

Fadhel Kaboub is a Ph.D. candidate in the Economics De- Avery Plaw is an Assistant Professor of Political Science at partment at University of Missouri–Kansas City, Kansas City, Concordia University, Montreal, Canada. Missouri. John Grady Powell is a student in the Economics Depart-

Jonah Katz is a Ph.D. student in the History Department at ment at Furman University, Greenville, South Carolina. Drake University, Des Moines, Iowa. Josh Pratt is a Masters student in Business Administration Everett W. Kindig is an Associate Professor in the History at Price College of Business, University of Oklahoma, Okla- Department, Midwestern State University, Wichita Falls, Texas. homa City, Oklahoma. Thibaut Kleiner is an official in the Competition Direc- Christopher A. Preble is the Director of Foreign Policy torate General of the European Commission, Brussels, Bel- Studies at the Cato Institute, Washington, DC. gium. G. David Price is an Assistant Professor in the Social and Robert Leeson is an Associate Professor in the Economics Behavioral Sciences Department at Santa Fe Community Department at Murdoch University, Perth, Australia. College, Gainesville, Florida. Keith A. Leitich is an independent scholar residing in Seat- Eric Pullin is an Instructor in the College of Business at tle, Washington. Cardinal Stritch University, Milwaukee, Wisconsin. James K. Libbey is an Associate Professor in Humanities Peter Rainow, Ph.D., is an independent scholar living in and Social Sciences Department, Embry-Riddle Aeronautical Foster City, California. University, Dayton Beach, Florida. John David Rausch Jr. is an Assistant Professor of Political Theo Edwin Maloy is an Assistant Professor of Public Ad- Science at West Texas A&M University, Canyon, Texas. ministration in the Department of History and Political Sci- Ty M. Reese is an Assistant Professor in the Department of ence, West Texas A&M University, Canyon, Texas. History at the University of North Dakota, Grand Forks, John Marino is Manager of Research and Cultural Affairs North Dakota. with the National Italian American Foundation, Washington, Eileen Robertson-Rehberg, Ph.D., is the Assistant Director D.C. of the Carl Frost Center for Social Science Research, Social Peter Hans Matthews is an Associate Professor in the De- Science Division of Hope College, Holland, Michigan. partment of Economics at Middlebury College, Middlebury, Robert Rook is an Associate Professor and Chair of the De- Vermont. partment of History at Fort Hays State University, Hays, James E. McWilliams is an Associate Professor in the His- Kansas. tory Department at Southwest Texas State University, San Trifin J. Roule is an assistant editor of the Journal of Money Marcos, Texas. Laundering Control, Pittsburgh, Pennsylvania. Michael A. Meeropol is a Professor and Chair of the De- Margaret Sankey is a Ph.D. student in the History Depart- partment of Economics at Western New England College in ment at Auburn University, Auburn, Alabama. Wilbraham, Massachusetts. Simone Selva is a Ph.D. student in the Department of His- Karen A. J. Miller is an Associate Professor in the Depart- tory of Society and Institutions at the State University of ment of History at Oakland University, Rochester, Michigan. Milan, Milan, Italy. Keith L. Miller is an independent scholar living in Philadel- Sayuri Shimizu is an Associate Professor in the History phia, Pennsylvania. Department at Michigan State University, Rochester, Michi- Matthieu J-C. Moss is an M.A. student in the History De- gan. partment at the Ohio University, Athens, Ohio. David B. Sicilia is an Associate Professor Department of Michael V. Namarato is a Professor in the Department of History at the University of Maryland, College Park, Mary- History at the University of Mississippi, University, Mississippi. land. Caryn E. Neumann is a Ph.D. candidate in the Department Henry B. Sirgo is a Professor of Political Science in the De- of History at Ohio State University, Columbus, Ohio. partment of Social Sciences at McNeese State University, Lake Shannon Daniel O’Bryan is a Ph.D. student in the History Charles, Louisiana. Department at the University of Tennessee, Knoxville, Ten- Steven E. Siry is a Professor in the Department of History nessee. at Baldwin-Wallace College, Berea, Ohio. Lisa L. Ossian is an Instructor in the Humanities at South- T. Jason Soderstrum is a graduate student in the History western Community College in Creston, Iowa. Department at Iowa State University, Roland, Iowa. Laura Seeley Pangallozzi is a Ph.D. candidate in the De- Mary Stockwell is an Associate Professor in the History De- partment of Urban Planning at Rutgers University, Camden, partment at Lourdes College, Sylvania, Ohio. New Jersey. R. Jake Sudderth is a graduate student in the School of Arts James D. Perry is a defense analyst at the Science Applica- and Sciences at Columbia University, New York City. tions International Corp., McLean, Virginia. Robert P. Sutton is a Professor in the History Department Donald K. Pickens is a Professor in the History Depart- at Western Illinois University, Macomb, Illinois. ment at the University of North Texas, Denton, Texas. Pavlina R. Tcherneva is an Associate Director, Center for Aaron Z. Pitluck is a Ph.D. candidate in the Sociology De- Full Employment and Price Stability in the Economics De- partment at the University of Wisconsin–Madison, Madison, partment at the University of Missouri–Kansas City, Kansas Wisconsin. City,Missouri.

About the Editor and Contributors 667

Saranna R. Thornton is an Associate Professor in the De- David W. Waltrop is a Ph.D. student in the Department of partment of Economics, Hampden-Sydney College, Hamp- History at the University of Maryland–Baltimore County, den-Sydney, Virginia. Baltimore, Maryland.

Kathleen A. Tobin is an Assistant Professor in the School of Tony Ward is a Professor in the Department of Economics Liberal Arts and Social Sciences at Purdue University–Calu- at Brock University, Saint Catharines, Ontorio, Canada. met, Hammond, Indiana. Wyatt Wells is an Associate Professor in the History De- Zdravka K. Todorova is a graduate student in the Econom- partment at Auburn University Montgomery, Montgomery, ics Department of the University of Missouri at Kansas City, Alabama. Kansas City, Missouri. Leigh Whaley is an Associate Professor in Department Richard Toye is a Lecturer in the History Department at of History and Classics, Acadia University, Wolfville, Nova Homerton College, University of Cambridge, Cambridge, Scotia, Canada. England. Robert Whaples is an Associate Professor in the Depart- David Treviño teaches History at Donna Klein Jewish ment of Economics at Wake Forest University, Winston- Academy in Boca Raton, Florida. Salem, North Carolina. Elaine C. Prange Turney is a Lecturer in the History De- Sandra L. Willett is a student in the English Department at partment at Northwest Vista College, San Antonio, Texas. the University of Central Oklahoma, Edmond, Oklahoma. Eugene Van Sickle is a Ph.D. student in the History De- Ben Wynne is an Instructor in the History Department at partment at West Virginia University, Morgantown, West Vir- the University of Mississippi, Oxford, Mississippi. ginia. Warren Young is an Associate Professor in the Economics David E. Walker is a Professor of Communication Studies Department at Bar Ilan University, Ramat Gan, Israel. at Middle Tennessee State University, Murfreesboro, Ten- Guoqiang Zheng is an Assistant Professor in the Depart- nessee. ment of History at Angelo State University, San Angelo, Texas.

Index

A&M colleges. See Agricultural and Advertising agents, 319–320 Agricultural Bloc in Congress, 328 mechanical colleges AEA. See American Economic Agricultural Credit Act (1987), 4–5 A&M Records v. Napster Inc. (2001), 1 Association Agricultural Credit Improvement Act Abolitionists, 97, 258–259, 463 Aerospace companies military contracts, (1992), 1, 5 form Republican Party, 243 18 Agricultural government-sponsored misunderstand slavery, theory of AFDC. See Aid to Families with enterprises, 5 Phillips, 424 Dependent Children Agricultural Marketing Act (1929), 180 Absolute advantage theory, 21 Affirmative action, 2–3 Agricultural mortgages, 106 AC vs. DC transmission systems, 94 Affluence, 3 Agricultural parity, 223 Acquired immune deficiency syndrome Affluent Society (Galbraith), 509 Agricultural policy, 5–6, 326–331 (AIDS), 1–2, 2, 84 Afghanistan agrarian discontent, 229–230 and African American community, 2 terrorist camps in, 37 New Deal, 329 among children, 288 U.S. invasion of, 119 Agricultural production economic implications, 1 AFL-CIO. See American Federation of controlled by national marketing Act for the Impartial Administration of Labor and Congress of quota, 199 Justice (British) (1774), 158 Industrialized Organizations controlled by setting target prices, 231 Actuarial Bureau, National Board of Fire African Americans government-subsidized, 108 Underwriters, 405 in Civilian Conservation Corps, 47 improved by Cooperative Extension Adams, John educational opportunities, 46 Service, 260 and Confederation, 16 members of Share Our Wealth clubs, market stabilization efforts, 5–6 negotiates peace with Britain (1783), 254 marketing cooperatives exempt from 278 proportion at poverty line, 62 antitrust prosecution, 328 Adams, John Quincy, 12 Aggregate demand overproduction, 329–330 and South Carolina nullification and Great Depression, 77 protected from foreign competition, crisis, 208 Keynesian economics, 266 117 and Tariff of Abominations, 271 to maintain full employment, 124 related to territorial expansion, 39 and Treaty of Ghent, 279 stifled by government surpluses, 80 research funded, 369 Adams, Samuel, 30 unemployment insurance limit restricting, 263 Adams, William, 279 fluctuations, 287 significance of cotton, 66 Adams Act (1906), 368 Aggregate growth rates, 442 surpluses, 4, 6, 7 ADC. See Aid to Dependent Children compared to federal funds rate, 443 during World War II, 223 Adkins v. Children’s Hospital (1923), 419 Agnew, Spiro, 65 Agricultural Programs Adjustment Act Advanced Research Projects Agency, 292 Agramonte, Aristides, 84 (1984), 7 Advanced Technology Office (ATO), 2 Agricultural adjustment, 231–232 Agricultural Trade Development and Advertising, 319–325 Agricultural Adjustment Act (1933), 87, Assistance Act (1954), 6, 329 and classical-liberal economic system, 223, 231 Agriculture and Consumer Protection 319 Agricultural Adjustment Act (1938), 3–4, Act (1973), 330 humor in, 323 199, 223, 328, 329, 419 Agriculture and Food Act (1981), 331 in magazines, 319, 320 under New Deal, 6 Agriculture Department, U.S. (USDA), 5, political, 324 Agricultural and Consumer Protection 6, 327, 453 in print media, 322 Act (1973), 6 Cooperative Extension Service, 260 as propaganda, 321 Agricultural and mechanical (A&M) created, 49 spending, 324 colleges, 4 federal expenditures on, 114

669

670 Index

Aid to Dependent Children (ADC), 100, American Association of Advertising and Congress, 60 230 Agencies, 321 Ames, Oakes, 69 See also Aid to Families with American Association of Law Schools, AMEX. See American Stock Exchange Dependent Children 437 Amistad, 258 Aid to Families with Dependent Children American Bankers Association, 9 Amos ‘n’ Andy Show advertising, 321 (AFDC), 7–8, 85 American Bar Association, 437 Amtrak, 490 and Congress, 59–60 American Bell Company, 349 created by Congress, 278 as entitlement program, 100 American Challenge (Schreiber), 190 Anarchists, 178 limits on benefits, 50 American Composite of AMEX, 11 Andrews, Samuel, 245 as poverty program, 230 American Economic Association, 9–10, Andros, Edmund, 53 recipients, 8 363 Annapolis Convention (1786), 16 replaced by TANF, 8 American Economic Review (periodical), Annunzio-Wylie Anti-Money AIDS. See Acquired immune deficiency 9 Laundering Act (1992), 447 syndrome American Federation of Labor and Anthony, Susan B., dollar coin, 297 Air Commerce Act (1926), 454 Congress of Industrialized Anticommunism Air Quality Act (1967), 136 Organizations (AFL-CIO), 10, 425, Ronald Reagan’s stance, 239 Air traffic controllers, 489. See also 427 of Truman Doctrine, 281 Ronald Reagan, remarks on air and Knights of Labor, 168 as U.S. foreign policy, 118 traffic controller’s strike opposes free trade, 10 Anti-Drug Abuse Act (1986), 446 (document) American Government and Politics Antidumping, 12 Airborne Communications Node, 2 (Beard), 26 agreement through GATT, 128 Airline Deregulation Act (1978), 81 American Inventors Protection Act in Latin America, 123 Airline industry (1999), 10 laws to limit growth of steel imports, deregulated, 80–81, 489 American Legion helps create GI Bill, 268 federal government subsidies, 278 253, 369 resolution at Kennedy Round, 165 government patronage of, 18 American Medical Association (AMA), Antiforeigner behavior, 31, 396 and September 11, 2001, 36 183 Anti-immigrant sentiment, 65, 149 Airmail Act (1925), 80 American Negro Slavery (Phillips), 424, Anti-Imperialist (periodical), 13 Airplanes, 375 458 Anti-Imperialist League, 13–14 transportation policy, 489–490 American Party. See Know-Nothing Party Anti-Inflation Act (1942). See Emergency Al Qaeda, 502 American Political Science Review, 345 Price Control Act Alaska American Railways Union strike, 15, 75 Anti-Mason Party, 307 becomes U.S. state (1959), 279 American Revolution (1775–1783), Anti-Nebraska Democrats form gold rush, 222, 357 10–11 Republican Party, 243 homesteading, 145, 430 currency issues, 354 Antipersonnel Land Mine Alternative, 2 purchased from Russia, 253, 279, 429 ends with Treaty of 1783, 278 Antipoverty programs, 56, 230, 289 Trans-Alaska Pipeline, 8, 279 establishes free enterprise, 40 Anti-Poverty Society, 129 Alaska National Interest lands militia as line of defense against Antiquities Act (1906), 247 Conservation Act (1980), 376 British, 197 Anti-Semitism and immigration policy, Albert, Michel, 466 sparked by Boston Tea Party, 30–31 397 Alcoa, 14 sparked by Stamp Act, 266 Antitrust and the Formation of the Alcohol and Tobacco Tax and Trade sparked by Sugar Act, 269 Postwar World (Wells), 437 Bureau, U.S. Treasury Department, American Society for Public Antitrust and the U.S. Supreme Court 295 Administration, 67 (Duggan), 333 Aldrich, Nelson, 9, 111, 224, 380 American Stock Exchange (AMEX), Antitrust Division, U.S. Justice Aldrich-Vreeland Emergency Currency 11–12 Department, 14 Act (1908), 9, 111, 222, 342, 380 American System, 12, 362, 479, 486 Antitrust Enforcement Cooperation Algeria, 217 described, 48 Agreement (1991), 14 Alien and Sedition Acts, 395 economic nationalism, 178 Antitrust law, 436–437 Allen, Paul, 185 opposed by Henry Lee, 171 Antitrust legislation, 255, 332–338 Allgeyer v. Louisiana (1897), 417 as pro-immigrant, 395 prohibiting unionizing efforts, 169 Alliance for Progress (1961), 9, 216 promoted by Whig Party, 307 suspended under Franklin Roosevelt, Allison, William B., 28 American Tariff Controversies in the 436 Almshouses for the poor, 505 Nineteenth Century (Stanwood), See also Sherman Anti-Trust Act Altair 8800, 185 171 The Antitrust Paradox: A Policy at War Alternative remittance system for money American Telephone and Telegraph. See with Itself (Bork), 14 laundering, 448 AT&T Antitrust Policy: An Economic and Legal Alyeska Pipeline Service Co., 8 American Tobacco Company, 321 Analysis (Kaysen and Turner), 336 Alzheimer’s disease, 84 unfair use of vertical integration, 34 Antitrust suits, 14–15, 58 AMA. See American Medical Association Americans with Disabilities Act, 427 Antiunion policies, 15, 57 Amazon.com, 96 championed by George H. W. Bush, AOL Time Warner, 471 America First, 159 36 Appeal to Reason (periodical), 256

Index 671

Apple Computer Company, 58, 323 Asylum seekers, 397–399, 400 Bakunin, Mikhail, 178 Apple Macintosh, 58 AT&T, 40 Balance of payments, 21 Aquinaldo, Emilio, 13 antitrust suits against, 348–350 with regard to Japan, 162 Arab oil embargo (1973–1974), 16 breakup, 14 of U.S. Treasury Department, 358 and Alaskan oil, 279 predatory pricing, 349 Balance of production and consumption, Arab-Israeli War (1973) and OPEC, 217 research and development, 351–352 198 Arctic National Wildlife Reserve oil and restrictions on telephone equipment, Balance of trade, 21–22 gas drilling, 8 351 Balanced budget amendment, 59 Area Redevelopment Act, 370–371 ATF. See Bureau of Alcohol, Tobacco, and Balanced Budget and Emergency Deficit Aristotle, 44 Firearms Control Act (1985), 33 Arizona, 280 Atchison, Topeka, and Santa Fe Railroad, Balanced Budget and Emergency Deficit Armaments transcontinental, 277 Control Reaffirmation Act (1987), Allied powers (World War II), Atkinson, Edward, 13 33 171–172 Atlantic Richfield Company, 8 Balanced budgets, 51, 135 NATO, 207 Atmospheric data gathering, by NOAA, elements of, 134 production (World War II), 213 199 Ballinger-Pinchot controversy, 248 Armour, Phillip, 52 ATMs. See Automatic teller machines Ballistic Missile Defense Organization Arms race ATO. See Advanced Technology Office (BMDO), 268, 269, 292 action/reaction cycles, 82 Atomic bombs, 162, 313 Ball’s Bluff Battle, 54 in cold war, 53 Atomic Energy Commission, 456 Baltimore, Maryland, 136 strategic, 56 Auction trading, continuous, 468 Baltimore and Ohio Railroad, 487–489 Arms sales Audio Home Recording Act (1992), 1 Baltimore Plan (1894), 379 as exports, 187 Australia, gold discovery, 222 Balzac v. People of Puerto Rico (1922), 155 Iran-Contra, 158 Authors protected from copyright Bank failures, 22 by U.S. business during World War I, infringement, 411 of 1893, 132 184 Automatic teller machines (ATMs), 343 in Great Depression, 129 Armstrong, John, 27 Automobile dealerships, used for money handled by FDIC, 109 Army,U.S. laundering, 445 Bank Holding Company Act (1956), 343 created by Continental Congress, 62 Automobile liability insurance, 407 Bank holiday, 342 organizes CCC, 47 Automobiles, 17 Bank of Credit and Commerce surgeons in Civil War, 182 competition with Japanese International (BCCI) scandal, 447 Army Corps of Engineers, U.S., 110 automakers, 17, 162 Bank of North America (1781), 339 dam construction, 73 economic impact of, 375 Bank of the United States (BUS), 141, and Manhattan Project, 455 industry converts to producing 439–440 and transcontinental railroad, 277 military vehicles (World War II), bonds sold through, 469 Army Research Laboratory, U.S., 76 313 constitutionality of, 179 Arnold, Thurman, 14, 336, 436 industry employment, 111 federal charter of, 388 ARPANet, 76 manufacturing, 116 First (1791–1811), 22, 24, 340, 354, Arthur, Chester and oil production increases, 213 440 civil service system reform, 65, 224 purchasing on installment plan, 68 issues stock, 467 Articles of Confederation (1776–1789), safety, 193 Jackson orders funds removed, 161 16–17, 63 transportation policy, 489 Second (1816–1836), 12, 23, 24, 27, and Bank of North America, 339 Aviation, 18 48, 78, 195, 220, 340, 355, deficient in generating revenue, 244 Ayer, Francis Wayland, 320 440–441 inadequacies of, 60, 113 Ayer and Son’s Manual for Advertisers Bank Protection Act (1968), 23–24 Northwest Ordinance Act, 208 (Ayer), 320 Bank Secrecy Act (1970), 446–447, 449 post offices, 348 BankAmericard (Visa), 69 taxation system, 271 B-29 airplanes, 76 Banker capitalism era, 80 Artificial intelligence, 2 Babeuf, Gracchus, 263 Bankhead-Jones Act (1935), 369 Arts, federal support of, 196 Baby boom Bankhead-Jones Farm Tenancy Act Arver v. United States (1918), 274 economic consequences, 19 (1937), 107 Asbestos, 211 and insolvent Social Security, 100 Banking Asian immigrants, 398 Bache, Alexander Dallas, 452, 453 commercial, 341, 357, 381 Ask Jeeves.com, 96 Bacon, Nathaniel (1647–1676), 19–20 development and regulation, 339–343 Assembly line invention, 116 Bacon’s rebellion (1676), 20 investment, 283 Asset forfeiture, 446–447 Baghdad Pact (1955), 42 nationwide interstate, 25 Assimilation policy for Indians, 150 Bailey v. Drexel Furniture Co. (1922), 418 offshore, 220 Associated Advertising Clubs of America, Bain, Joe, 336 origins, 339 321 Baker v. Selden (1879), 411 restructuring system, 9 Association of State Green Parties, 137 Bakke, Alan, 2, 20 See also Banking system Associationalism, 335, 391 Bakke v. Board of Regents of California Banking Act (1933), 24, 381 Astor, John Jacob, 341 (1978), 20–21 Banking Act (1935), 25, 29, 109, 342, 382

672 Index

Banking system, 24–26, 195 BEA. See Bureau of Economic Analysis Black Man’s Burden Association, 13 currency shifts to, 357 Beach, Alfred Ely, 412 Black Market Peso Exchange System, 448 dual, 25 Beard, Charles Austin (1874–1949), 26, Black Thursday, 135 federal economic policy, 388 91 Blackmun, Harry, 420 federal regulation of, 195, 379 Beard, Mary Ritter, 26 Blackstone, William, 433 reforms, 111, 379–380 Beauvoir, Simone de, 178 Blaine, James G., 69, 219 rules for structure, 194 Belgium Bland, Richard P., 28 See also Banking member of CoCom, 64 Bland-Allison Act (1878), 28, 71 Bankruptcies member of NATO, 206 Bloch, Felix, 397 of airlines, 81, 278, 489 Belknap, William, 225 Block grants among thrifts, 25 Bell, Alexander Graham, 349–350 for education, 371 due to abuse of credit cards, 69 Bell system/laboratories, 349, 352 to implement Personal Responsibility of farms during dust bowl, 87 breakup, 349, 350 Act, 226 of panic of 1819, 221 required for satellite for social welfare, 509 of panic of 1893, 132 telecommunications, 351 to TANF, 8 of post–Civil War Southern states, 64 Belmont, August, Jr., 49 Blockades of railroads, 157, 489 Bennett, Gordon, Sr., 319 by Britain of ports under French resulting from divorce, 85 Bent, A. E., 67 control, 248 in rural areas, 5 Bentham, Jeremy, 91, 234 against Cuba by U.S., 70 Bankruptcy Code (1978), 436 Benz, Karl, 17 during Napoleonic Wars, 63 Bankruptcy law Benz Company, 17 paper, 205 Chapter 7, 436 Bering, Vitus, 279 of South by North, 259 Chapter 11, 436 Berkeley, William, 19, 20 of World War I, 312 Chapter 13, 436 as advocate for trade with Native Bluejacket, Shawnee chief, 280 corporate, 436 Americans, 20 Blue-sky laws, of states, 470, 471 described, 435 Berle, Adolph A., 9, 470 BMDO. See Ballistic Missile Defense Banks Berlin blockade (1948), 52 Organization allowed to sell stocks and insurance, and restrictions on shipments of BMW, 17 130 American goods, 102 Board of Governors of the Federal bankruptcies in oil-producing states, Berlin Degrees (1806) of Napoleon, 63, Reserve. See Federal Reserve Board 25 215 Boisguillebert, Pierre, 91 Federal Reserve, 29 Berlin Wall, 26–27 Boland Amendment (1982), 158 increased lending capacity, 111 and George H. W. Bush, 36 Bonaparte, Napoleon insolvency, 135 Bernbach, Doyle Dane, 322 and French sale of Louisiana liberalize rural lending policies, 106, Bernstein, Eduard, 48, 263 Territory, 174 249 Bessemer steel process. See Steel, seizes U.S. ships in French ports, 175 national, 12 Bessemer process and U.S. embargo against France, 97 panics and failures. See Panics, bank Bethe, Hans A., 397 See also Napoleonic Wars regulated by states, 355–356 Beveridge, Albert, 224 Bonds savings, 341 Bezos, Jeff, 96 under National Bank Act (1863), 194 in southern states, 340 BIA. See Bureau of Indian Affairs sales, 30 state-chartered, 194, 220, 340, Biddle, Nicholas (1786–1844), 23, 27, Bonior, David, 206 354–355 355, 388 Bonneville Dam, 73 See also Banking; Banking system; implements monetary policy through Bonus March of veterans (1932), 30, 93 Free banking systems; Investment BUS, 441 Bookchin, Murray, 93 banking and Second Bank of United States, Border Patrol, 399 Barlet, David, 495 340 Bork, Robert, 14, 337 Barnburners, antislavery, 121 Bidwell, George, 77–78 Boskin, Michael, 61, 239 Barriers to New Competition (Bain), 336 Big Store law (Japan), 483 Boss system of Tammany Hall, 65 Bartley, Robert, 270 Bigotry against immigrants, 149 Boston Associates textile mills, 152 Barton, Burde, 321 Bills of exchange prohibited by British, Boston Journeymen Bootmakers Society, Baruch, Bernard, 391 71 55 BASIC computer language, 58, 185 Bimetal coinage standard, 28, 51–52 Boston Massacre, 275 Batten, Barton, Durstine, and Osborn converted to gold standard, 71 Boston Post (periodical), 320 agency, 321 increases monetary supply, 286 Boston Tea Party (1773), 30–31, Battle, Laurie C., 64 See also Gold versus silver 157–158, 272, 275, 478 Battle Act, 64 Bio-based fuel sources, 377 Intolerable Acts as response, 62 Battles. See under specific names Birmingham, Alabama, 46 Boutwell, George S., 13 Baucus, Max, 59 BIS. See Bureau of Industry and Security Bovine spongiform encephalopathy Baxter, William, 14 Bison (buffalo), 27–28 (BSE), 176 Bayard, James A., 279 Black, Hugo L., 420, 435 Boxer Rebellion (1898–1900), 31, 45 BCCI. See Bank of Credit and Commerce Black, John D., 67 U.S. joins expeditionary force to quell, International scandal Black grants, 28–29 215

Index 673

Boycotts Brokers, 467, 470 Bureau of Freedmen, Refugees, and of British goods, 11, 78, 266 Brookings Institution, 67 Abandoned Lands. See Freedmen’s colonial, 31–32 Brooks, James, 69 Bureau against Cuba by U.S., 70 Brooks, Mary, 120 Bureau of Indian Affairs (BIA), 35 on English commodities, 62 Brotherhood of Locomotive Firemen, reducing influence of, 151 of military technologies against Soviet 75 reservations policies, 150–151 Union, 64 Brown, Henry B., 155 Bureau of Industry and Security (BIS), of Montgomery, Alabama, bus system, Brown Shoe case (1962), 336 291 46, 188 Brown v. Board of Education (1954), 46 Bureau of Labor Statistics, 293 against taxation, 31–32 Brown v. Topeka Board of Education consumer expenditure survey, 62 Boys’ and girls’ clubs, 260 (1954), 94 and Consumer Price Index, 61 Bracero program, 397 Browne, Carl, 68 publishes economic indicators, 90 Braddock, Edward, 123 Bryan, William Jennings, 129, 357 Bureau of Land Management, 60 Bradford, Gamalie, 13 advocates free silver policy, 52, 133 Bureau of Public Debt, U.S. Treasury Bradley, Bill, 59 in Anti-Imperialist League, 13 Department, 295 Brain drain, 149 Democratic presidential nominee, 79 Bureau of Reclamation, U.S., 73, 204 Brandeis, Louis D., 14, 112, 251, 287, 418, sympathizes with Populist programs, Burger Supreme Court (1969–1986), 420 470 230 Burgess, E. W., 492 Brazil, 460 BSE. See Bovine spongiform Burnham, Walter Dean, 301 Break, George, 473 encephalopathy Burns, Arthur, 92, 260, 442 Breaux, John, 59 Buchanan, James, 141 Burns, Ken, 196 Brennan, William, 420 Buchanan, Pat, 206 Burr, Aaron Bretton Woods Agreement (1945), 32 Bucy, J. Fred, 272 creates Manhattan Company Bank, authority to collect balance of Budget 340 payments data, 21 balanced, 51, 134, 135 kills Alexander Hamilton, 141 See also Bretton Woods economic deficit-cutting, 36 BUS. See Bank of the United States conference formulated by executive branch, 32 Bush, George Herbert Walker (1924– ), Bretton Woods economic conference, spending for deficiency payments cut, 35–36 114, 153 6 creates NAFTA, 206 Franklin D. Roosevelt’s role in, 247 during World War II, 392 enterprise for the Americas initiative, Keynes’ participation, 166 Budget Act. See Omnibus Budget 123 to stabilize international currencies, 166 Reconciliation Act (1990) and Iran-Contra, 158 See also Bretton Woods Agreement Budget and Accounting Act (1921), missile defense programs, 268 Brewer, David J., 418 32–33 supply-side economics proponent, Bright-line rules, 470 Budget and Impoundment Control Act 270 Briscoe v. Bank of the Commonwealth of (1974), 32 sustains Reaganomics, 240 Kentucky (1837), 416 Budget deficits and surpluses, 33 tax cuts, 393 Britain See also Deficit spending; Surpluses War on Drugs, 70 Baghdad Pact (1955), 42 Budget Enforcement Act (1990), 33 Bush, George W. (1946– ), 36–37 boycotts against, 31–32 Budgets and Arctic National Wildlife Reserve, 8 colonies as source of revenue, 53 automatic cuts, 135 and educational system problems, economic pressure against France, 63 cuts to promote economic recovery, 371–372 embargoes against, 97, 98 92 increases AIDS research funding, 2, 84 and gold standard, 358 Defense Department, 292 increases tariff on imported steel, 151 member of CoCom, 64 for U.S. Health and Human Services Kyoto protocol, abandonment of, 101 member of Group of Seven, 139 Department, 293 and privatization of Social Security, member of NATO, 206 Buffalo. See Bison 262 and Middle-East oil, 213 Buffalo, New York, 136 tax-cut-based supply-side economics, as most-favored-nation, 498 Buffalo Bill. See Cody,William F.“Buffalo 33, 270, 393 pound floats, 260 Bill” Bush, Vannevar, 455–456 restrictive trade acts against colonies, Bulgaria, 206 Business, 37 478 Bull Moose Party, of Theodore Roosevelt, advocacy by U.S. Chamber of seizes U.S. ships, 204, 205 248 Commerce, 290 See also England Bull Run Battle, 54 -government partnership in wartime, British Commonwealth as economic Bunau-Varilla, Philippe Jean 391 bloc, 130 (1859–1940), 33–34 and government relationships, 344–346 British East India Company, 272, 477 Bureau of Alcohol, Tobacco, and taxes, 474 and per-pound tea tax, 30 Firearms (ATF), 295 -to-business e-commerce, 96 reciprocity for tea lost in Boston, 158 Bureau of Corporations (1903), 34 Busing. See School busing Brokerage houses Bureau of Economic Analysis (BEA), 21, Butler, Benjamin, 55 bankruptcies and mergers, 471 189, 291 Buttonwood Agreement forms New York and Truth in Securities Act, 283 Bureau of Engraving and Printing, U.S. Stock Exchange, 467 used for money laundering, 445 Treasury Department, 295 Byrnes, James F., 213

674 Index

C4I information systems, 77 Carey, Henry, 362 CED. See Committee on Economic Calhoun, John C., 12, 116 Carey, Joseph, 41 Development allied with Whig Party, 307 Carey Act (1894), 40–41 CEEC. See Committee of European attempts to acquire Canada, 39 Caribbean Islands Economic Cooperation and nullification crisis, 161, 208, 233, offshore financial centers for money Celebration of Spirit Memorial, 264 laundering, 448 Oklahoma City, 196 resigns vice presidency, 209 sugar production, 485 Celler-Kefauver Act (1950), 14 Califano, Joseph, 292 Carnegie, Andrew (1835–1919), 41, 332 Cellular telephones, 352 California, 280 in Anti-Imperialist League, 13 Census, 10, 42, 229 admitted as free state, 258 as captain of industry, 40 Census Bureau, U.S., 291 deregulates energy industry, 96 and labor strikes, 15, 425 population projections, 229 gold rush, 132 operating without threat of foreign publishes economic indicators, 90 during Great Depression, 256 competition, 37 UNIVAC computers, 57 outbreaks of foot and mouth disease, political power, 152 Centers for Disease Control and 115 Carnegie Foundation, 41 Prevention (CDC), 1 Cambridge University, 19 Carnegie Library Project, 41 CENTO. See Central Treaty Camp David talks, Eisenhower- Carnegie Steel, 40, 41 Organization Khruschev (1959), 53 Carpetbaggers, 41–42 Central America, U.S. dollar diplomacy, Campaign finance reform, 65 Carranza, Venustiano, 397 85 Campbell, Neil, 483 Carroll, James T., 84 Central American immigrants, 398 Canada Carson, Rachel, 295 Central Pacific Railroad free trade zone with U.S. and Mexico, Cartels construction, 277 206 after Great Depression, 198 land grants to, 278 invasion of (1812–1813), 39 foreign, attacked after World War II, and transcontinental railroad, 488 member of CoCom, 64 437 Central Treaty Organization (CENTO), member of Group of Seven, 139 international, 335 42–43 member of NATO, 206 price-fixing, 332, 334 Chamber of Commerce, U.S., 290–291 and NAFTA, 36, 119 prohibited under Sherman Anti-Trust Champion v. Ames (1903), 418 single-payer health insurance system, Act, 333 Chandler, Zachariah, 54 50 protected in Europe, 436 Chapter 7 bankruptcy, 436 U.S. auto manufacturing in, 17 Carter, Jimmy (1924– ), 201 Chapter 11 bankruptcy, 436 -U.S. construction of St. Lawrence antitrust enforcement, 14 Chapter 13 bankruptcy, 436 Seaway, 73 creates FEMA, 110 Charity organization societies, 68, 506 Canals deregulation of industries, 80, 81, 157, Charles II, king of England, 53 construction of, 12 489–490 and Navigation Acts, 202 financed with state and municipal and Paul A. Volcker, 301 Charles River Bridge v. Warren Bridge bonds, 469 Program for Better Jobs and Income, (1837), 43, 416 as major arteries for commerce, 388 7 Charter of Punta del Este, 9 transportation policy, 486–487 treaty with Panama for control of Chase, Stuart, 321 U.S. right to build across Central canal, 220 Chase Supreme Court (1864–1873), 417 America, 143 and Windfall Profits Tax, 16 Checkers speech (1952) of Richard See also Erie Canal; Panama Canal; Carter v. Carter Coal Co. (1936), 419 Nixon, 43 Panama Canal Treaty Case law, 434 Checks and balances, 44 Capitalism, 39–40, 364 Casey, William J., 158 to prevent federal government based on free trade, 13 Cash and carry, 313 corruption, 65 and causes of war, 304 Casinos, used for money laundering, 445 Chernow, Ron, 283 depressions inherent to, 79 Castro, Fidel, 70 Cherokee Indians and Trail of Tears economic pitfalls, 256 Casualty insurance, 405, 406 forced march, 276 evolution of, 80 Cattle production Cheves, Langdon, 22, 355 exploitation of workers, 178 and Desert Land Act, 274 Chiang Kai-Shek, 45 portrayed as exploitative in The economic consequences of Mad Cow Chiat/Day advertising agency, 323 Jungle, 163 Disease, 176 Chicago, Illinois and socialism, 263 CCC. See Civilian Conservation Corps Great Railroad Strike (1877), 136 viewed negatively by ecosocialists, 93 CDFI. See Community Development Pullman strike, 234–235 Capitalism, Socialism, and Democracy Financial Institution, U.S. Treasury strikes, 15, 49, 79 (Schumpeter), 364 Department Chicago School, 337 Capitalism versus Capitalism (Albert), CCW. See Committee on the Conduct of and antitrust enforcement, 14 466 the War argues to end government Capone, Al, 262, 445 CDC. See Centers for Disease Control intervention, 364 Capper-Volstead Act (1922), 5, 328 and Prevention Chickasaw Indians and Trail of Tears Captains of industry, 40 CD-ROM development, 144 forced march, 276 Carbon emissions, 100 CEA. See Council of Economic Advisers Child care Cardozzo, Benjamin, 251, 419 Cease-and-desist orders, 112 excluded in NIPA measurements, 198

Index 675

offered with welfare-to-work Civil War Clinton, George, 78 programs, 226 and Committee on the Conduct of Clinton, Hillary Rodham, 183 for women employed in low-paying the War, 54 Clinton, William Jefferson (1946– ), 35, jobs, 100 debt creates large trading volume, 467 49–50, 75, 490 Child labor, 44–45 effects on federal economic policy, agricultural policy, 6 laws, 44, 167 389, 499 and American Inventors Protection paid lower wages, 44 financed with legal paper currency, Act, 10 reforms, 507 195 and antitrust enforcement, 14 regulations, 44, 165 “The Civil War” public television budget for AIDS, 2 restricted, 45 documentary, 196 Financial Modernization Act (1999), Child Labor Tax Law, 418 Civil Works Administration (CWA), 130 Child support, 85, 231 46–47, 110, 328, 507 free trade area in Western Child tax credits, 36 to construct government projects, 202 Hemisphere, 123 Child welfare, 507 Civilian Conservation Corps (CCC), 47, mainstream economic program, 393 public health programs, 507 110, 294, 328, 508 proposes eliminating NTIS, 200 and UNICEF, 288 Clark, Grenville, 92 pushes for NAFTA approval, 206 Children’s Bureau, U.S., 507 Clark, John Bates, 363 resists pressure for national missile China, 45 Clark, Maurice B., 245 defenses, 269 Boxer Rebellion (1898–1900), 31 Clark, Thomas, 420 and social welfare, 509 opens market to U.S., 482–483 Clark, William, 128 Closed shops, 170, 294 U.S. attempts dollar diplomacy, 85 Class, 47–48 Closed system of protectionism (Japan), and U.S. free trade policy, 480 crime as issue, 70 483 U.S. suspends economic contact, 45 differences revealed, 79 Cloward, Richard, 56 Chinese Civil War (1947–1949), 56 reductionism, 48 Coal Chinese Communist Party. See violent struggle promoted by IWW, as energy source, 99 Communist Party of China 153 power, 375 Chinese Exclusion Act (1882), 395 Classical economics theory, 170, 184 resources, 374 Chinese immigrants, 277, 395 and Adam Smith, 361 Coble, Howard, 276 Choctaw Indians and Trail of Tears compared to political economy CoCom. See Coordinating Committee forced march, 276 theory, 238 for Multilateral Export Controls Cholera outbreaks, 83 supply-side principle, 270 Cody,William F.“Buffalo Bill”,41 Chrysler-Daimler-Benz merger, 17, 486 Classical paradigm, 166 Coercive Acts. See Intolerable Acts (1774) Churchill, Winston, 77 Classical-liberal economic system, 319 Coffee, John C., 466 Cigarette advertising on television, 323 Clay, Henry (1777–1852), 48, 362, 395 Cohens v.Virginia (1821), 51 Cincinnati, Ohio, 136 and American system, 12 Coinage Act (1873), 28 Citinet e-commerce, 96 attempts to acquire Canada, 39 Coin’s Financial School (Harvey) (1894), Citizenship defined, 46, 120 and Distribution Act (1836), 84 51–52 City Maysville Road Bill (1830), 178 Cold war (1947–1991), 52–53 essential components of, 491 and national bank, 23 attempts to limit Soviet armaments, managers’ roles, 66 negotiates Missouri Compromise, 258 82 planning, 289 and nullification crisis, 116, 161 and CENTO, 42 The City (Park and Burgess), 492 and Treaty of Ghent, 279 as clash of economic ideologies, 501 Civil Aeronautics Act (1938), 80 Whig Party leader, 307 and concern of technology transfer, Civil Aeronautics Board regulatory Clayton, Henry De Lamar, 49 272 practices, 81 Clayton Act (1950), 333 foreign policy, 118 Civil courts, 434 Clayton Anti-Trust Act (1914), 14, 37, 49, government power over exports, 102 Civil defense and FEMA, 110 169, 255, 268, 333, 334, 345, 390 and Keynesian economics, 98, 99 Civil disobedience, nonviolent, 46 document, 598–604 and military-industrial complex, 186 Civil rights enforces Sherman Anti-Trust Act, 112, as national security imperative for legislation under Great Society, 136 282 research and development movement (1955–1968), 46, 370 Clayton-Bulwer Treaty (1850), 143 funding, 456 See also Civil Rights Act (1964, 1968) Clayton-Bulyer Treaty (1846), 485–486 Ronald Reagan’s role in ending, 239 Civil Rights Act (1964), 2, 3, 136, 308, Clean Air Acts (1965, 1970), 17, 136, 296, Colden, Cadwallader, 487 371 392 Colfax, Schuyler, 69 and Congress, 60 Clean Water Restoration Act (1966), 136 Collective bargaining, 10 forbidding racial quotas, 20 Clearinghouses, 341 by city managers with municipal Civil Rights Act (1968), 46 Cleveland, Grover (1837–1908), 49, 79 employees, 67 outlaws housing discrimination, 293 attempts tariff reform, 285 rights, 170, 198, 290 Civil Service Commission, U.S., 65 efforts to counter bossism, 65 Colleges Civil Service System expands forest reserves, 119 for freed slaves, 34 employment based on patronage, 65, and Pullman strike, 235 transformed by land grants, 367 223–224 Clinton, Bill. See Clinton, William Collier, John, 107 reformed, 224, 225 Jefferson Indian New Deal, 150–151

676 Index

Collum, Shelby, 52 Commercial Bureau of American Computer Software Rental Amendment Colombia, 33 Republics, 219 (1990), 411 drug organizations money Commercial Regulations (Biddle) (1819), Computerized bidding system of NTIA, laundering, 448 27 201 Panamanian revolution against, 220 Commercial transactions, constitutional Computers, 57–58 Colonial America, 98 powers of, 415 copyright doctrine for programs, 411 administration, 53–54 Commission government, 54, 66 technology, 352 advertising, 319 Commission on the Status of Women See also Personal computer banking, 339 (1961), 102, 231, 310 Comsat, franchised monopoly, 351 boycotts against Britain, 31–32 Committee of European Economic Comte, Auguste, 48 British taxation protests, 266 Cooperation (CEEC), 90 Confederates pardoned by Andrew changes in monetary policy, 439–440 Committee on Economic Development Johnson, 120 currency, 354 (CED), 33 Confederation (interim government), decentralized schools, 94 Committee on the Conduct of the War 16–17 deterrence for crimes, 69 (CCW), 54–55 Conference Board publishes economic diseases, 83 Commodities indicators, 90 and indentured servitude, 150, 394, dollar theories, 131 Confiscation Acts (1861–1864), 58–59, 459 falling prices, 131 259, 273 labor in, 422–423 used as money, 354 Congress, 59–60 literacy, 366 Commodore Company, 58 addresses economic issues, 59 military supplies from abroad, 63 Common law continental impost as source of militias, 197 evolution of, 433 income, 63 old economic order, 360 for inventions (British), 410 science advisory body (Office of piracy, 228 parallels with Sherman Anti-Trust Technology Assessment), 457 poor laws, 504 Act, 333 Congressional Budget and reacts to Navigation Acts, 202 Common schools, 94 Impoundment Act (1974), 98 restricted to producing raw materials accepted by middle class, 367 Connolly, John, 92 for Britain, 238, 270 in postindependence period, 366 Conrad, Alfred, 464 and smuggling, 261 “Common Sense” pamphlet, 62 Conservation, 60 trade restrictions imposed by Commons, John R., 363 USDA programs, 108 England, 152 Commonweal of Christ, 68 Consolidated Omnibus Budget use of embargoes, 97 Commonwealth v. Hunt (1842), 55, 169 Reconciliation Act (1986), 407 war and economy, 497–498 Commonwealth v. Pullis (1806), 169 Conspiracy cases brought against labor women’s rights, 310 Communications, 347–353 unions, 55 Colorado, 280 conditions warranting intervention by Conspiracy of equals, 263 Columbia space shuttle, 194, 197 government, 347–348 Constitution, U.S. (1788), 60–61 Columbia University, 26 Communism, 55–56, 364 commerce and contracts clauses, Columbo Plan (1950), 56 combating spread of, 9 415–421 Columbus, Ohio, 136 economic assistance to mitigate threat commercial power in centralized Command economy compared to mixed of, 290 federal government, 117 economy, 187, 188 Communist Party of China (CPC), 45, economic interpretation of, 91, 415, Commentaries on the Laws of England 52 417 (Blackstone), 433 Community Action Programs, 92 granting power to Congress, 59 Commerce Community development principle of separation of powers, 44 defined by Supreme Court, 434–435 federally supported programs, 289 ratification battle, 113 interstate regulations, 157 urban model of, 492 replaces Articles of Confederation, 16 monopolistic practices, 288 Community Development Financial rights of ideas and inventions, 410 as vehicle for expansion of Institution (CDFI), U.S. Treasury Constitutional Convention (1787), 16 Christianity, 176 Department, 295 Consumer activism, 193, 321–322 Commerce clause in U.S. Constitution, Company towns, 57, 425 Consumer confidence index as economic 415, 420 Comparative advantage principle, 21 indicator, 90 described, 434–435 Compensation norms, 89 Consumer Credit Protection Act (1968), Commerce Department, U.S., 21, 189, Competition 282 291–292 chaotic, 40 Consumer expenditure survey, 62 National Oceanic and Atmospheric and railroad industry, 144, 469 Consumer price index (CPI), 61–62 Administration, 199 under Reaganomics, 240 as economic indicator, 90 National Technical Information Compliance under OSHA in high-risk Consumer Products Safety Act (1972), Service, 200 industries, 211–212 392 Commercial and Financial Chronicle Compression of economy, 89 Consumer spending, 62 (periodical), 195 Compromise of 1850, 48, 124, 258 on credit, 282 Commercial and industrial development, and Whig Party, 307 and energy consumption, 376 146 Compromise Tariff of 1833, 161 Consumption, 51, 62

Index 677

Consumption taxes, 475 safeguarded by World Intellectual Crime, 69–70 Containment of communism policy, 167 Property Organization, 311 during Prohibition, 232 Truman Doctrine, 281 translations included, 411 Crime Control Act (1990), 446 Continental Congress, 62–63 Corn Belt, 327 Criminal conspiracy test for union Continental expansion as focus of U.S. Corn laws and Navigation Acts, 202 activities, 169 foreign policy, 117 Corporate profits as economic indicator, Criminal juries, 434 Continental impost, 63 90 Criminal networks for money Continental System of Napoleon, 63, 97, Corporate reorganization, 436 laundering, 448 215 Corporations Critique of the Gotha Programme (Marx), Contraction, 161 capital-intensive, 468–469 263 of high wartime prices to low financial, develop stock market, 468 Croffut, William A., 13 peacetime prices, 221 income taxes, 473 Cromwell, Oliver, 19 of money supply by federal intellectual property standards, and British Navigation Acts, 202 government, 244 413–414 Crop insurance, 407 Contract(s) own rights to employee-developed Crops clause in U.S. Constitution, 415, 416 ideas, 413–414 controlling surpluses, 4, 6, 7 constitutional validity, 74 research and development, 454 failures during dust bowl, 87 described, 434 Corruption, 65 irrigated, 158–159 freedom of, 417, 419 Crédit Mobilier scandal, 69 rotation techniques, 263 inviolability of contracts, 315 in federal government, 225 Cross of gold speech (Bryan), 133 open, for advertisers, 320 of patronage system, 224 Cross-border currency smuggling, of sale, 434 during Prohibition, 232 money laundering, 445 Contras in Nicaragua, 158 and Yazoo Land deal, 315 Crowding-out effect, 33, 234 Convention on Rights and Duties of The Cost of a National Crime (Atkinson), Crutis, Cyrus H. K., 320 States (1933), 133 13 Cuba, 70 Conventional Forces in Europe Treaty Cost-of-living wage increases, 201 effects of Wilson-Gorman Tariff Act, (1992), 82 Cost-push theory on inflation, 154 309 Convict lease, 64 Cotton, 66 independence, 264, 265 Convoys for merchant vessels (World demand for, 152, 461 sugar producer, 269 War I), 312 dust and brown lung, 211 U.S. embargoes against, 98 Cooley, Thomas M., 143, 157 labor in Deep Southwest, 461 U.S. relationship, 500 Cooley v. Board of Wardens of Port of produced by slaves, 97 U.S. terminates rights to intervene, Philadelphia (1852), 416, 435 Cotton Belt, 327 133 Coolidge, Calvin, 6 Cotton gin (1792) Cuban missile crisis (1962), 53, 70, 98 follows supply-side economic policies, invention of, 66 Cuban refugees, 398 270 revitalizes slavery, 152 Cultural programs coordinated by U.S. opposed to government price fixing, Cotton Is King (Hammond), 258 Information Agency, 296–297 180 Coughlin, Charles E., 275 Cummins Transportation Act, 237 Reparations Commission, 74 Council of Economic Advisers (CEA), Currency, 195, 295, 354–359 Cooling off period, 170, 259 67–68, 98, 392 allowed to float, 359 Cooper Union, 368 on GRH, 135 changes during Great Depression, 358 Cooperative Extension Service, 260 and Leon H. Keyserling, 167 dollar coin, 297 Cooperative homestead communities Council-manager government, 66–67 in early U.S., 354–355 (New Deal), 107 Counterfeiting paper money, 297 of East and West Berlin, 26 Cooperatives Covode, John, 54 emergency, 9 agricultural, 5 Coward, Aileen,, 323 expansion limited, 359 electricity in rural areas, 249 Cox, James, 179 Federal Reserve notes, 342 farm, 197, 249 Coxey, Jacob. See Coxey’s Army and First Bank of United States, 340 of Knights of Labor, 167 Coxey’s Army (1894), 52, 68, 79 fixed exchange rates. See Fixed Coordinating Committee for Multilateral CPC. See Communist Party of China currency exchange rates Export Controls (CoCom), 64 CPI. See Consumer price index hard metal, 28 Copeland, Royal, 322 Crawford, William H., 440 inadequate circulation, 22 Copper cartel, 335 Credit, 68–69 increased supply, 71 Copyright law. See Copyrights, law available through GSEs, 5 minting, 141, 152 Copyrights Credit cards, 68, 156 paper. See Paper currency 14-year duration, 410 Crédit Mobilier scandal, 69, 225, 488 regulated by IMF, 32 28-year duration, 411 Credit unions, 26 stability of gold, 132 70-year duration, 413 Creek Indian tribe Currency Act (1764), 11, 70–71 infringement, 81 and Trail of Tears forced march, 276 Currency Act (1900), 71 law, 1 See also Creek War Currency Act (Britain), 70 music added, 410–411 Creek War, 145, 305 Currency Reform Act (1751), 70 recognized by U.S., 82 Creel, George, 321 Curtin, Philip, 460

678 Index

Custis, Peter, 128 Defense research funding, 186, 456 Designs protected by patent law, 409 Customer tracking systems, e-commerce, Defense sciences, 76–77 Détente with Soviet Union and China, 53 96 Deferred-dividend life insurance policies, Developing countries Customs Service, U.S., 65, 262, 291, 295 405 economic assistance by USAID, 290 CWA. See Civil Works Administration Deficit doves’ and hawks’ views of environmental controls, 101 Cyanide process of extracting gold, 52 government budgets, 134 on global warming, 288 Czech Republic/Czechoslovakia, 102, 206 Deficit spending, 33, 77 industrialization of, 153 FDR’s overconcern with, 246–247 and United Nations, 287 Daddario, Emilio, 456 as means to end Great Depression, USAID assistance, 290 Daimler, Gottlieb, 17 166 See also Less-developed countries Dams, construction of, 47, 73. See also on public works to create jobs, 166 Development Loan Fund, 290 under specific dams Deficits Dewey, George, 247, 265 Danish West Indies. See Virgin Islands, effects of, 33 Dewey, John, 95, 167, 363, 454 purchase of (1917) of government budgets, 134 on public school education debate, 94 DARPA. See Defense Advanced Research private-sector, 240 Dewson, Mary “Molly” Williams, 187 Projects Agency reduction plan of Bill Clinton, 50 Dickens, Charles, 487 Darrow, Clarence, 200 reduction through GRH, 134 Digital Millennium Copyright Act Dartmouth College v. Woodward (1819), Delano, Jack, 107 (1998), 81–82 43, 74, 416 DeLima v. Bidwell (1901), 77–78 Diner’s Club credit card, 68 Darwin, Charles, 363 Demand-pull theory on inflation, 154 Dingley, Nelson, Jr., 82 and urbanization, 491 Demobilization of World War II Dingley Tariff (1897), 82 Data smog, 324 veterans, 253 Director, Aaron, 337 Daughters of Liberty, 275 Democracy, 78 DISA. See Defense Information Systems Davis, John W., 179 Democracy and Freedom (Friedman), 493 Agency Davis Bacon Act (1931), 111 Democratic Party, 78–79 Disability insurance for active service Dawes Plan, 74 split by Grover Cleveland, 49 members, 406 Dawes Severalty Act (1887), 74–75, 150 supports labor unions, 55 Disarmament, 82–83 Day, William R., 418 Democratic Socialism, 93 Disaster Assistance Act (1988), 83 Dearborn, Henry, 39 Democratic-Republican Party Disasters Debs, Eugene Victor (1855–1926), 75, economic policy and War of 1812, 498 farm, 107 425 origins, 141 relief acts, 83, 110 imprisoned for Pullman strike, 235 Deng Xiaoping, 45 relief efforts by FEMA, 110 and IWW, 152 Denmark Discrimination and railway strike, 15, 234 member of CoCom, 64 banned in transportation, 188 Debts, 295 member of NATO, 206 continued against blacks, 46 increase supply of securities, 467 sells Danish West Indies to U.S., economic, 2, 310 national, 30 300–301 housing, 46, 172, 494 repayment plan by Hamilton, 242 Denver Mint, 120 institutional, 493, 495 restructured by paying creditors, 242, Department store advertising, 320 by private property owners, 254–255 467 DePauw College, 26 redlining of banking system, 493 Debye, Peter, 397 Depository Institutions Deregulation and against women, 310 Decimalization of price quotes, 11 Monetary Control Act (1980), 25, Disease, 83–84 Declaration of Independence, 11 282, 343 Disenfranchisement schemes, 228 and Anti-Imperialist League, 13 Depression of 1893, 49, 68, 500 Disintermediation, 443 created by Continental Congress, 62 Depression of the 1890s, 79, 342 Disney Corporation, 411 Defense Advanced Research Projects railroad industry financial crisis, 79 Distribution Act (1836), 84–85 Agency (DARPA), 2, 75–76, 292 Depressions, 79–80, 220–221 Distribution of earnings, 89 Defense corporations and military- agricultural, 4 and welfare economics, 307 industrial complex, 187 in England, 31 Diversity Defense Department, U.S., 292 years listed, 286 among employees, 3 budget commitments to NATO, 206 See also Depression of 1893; due to immigration, 401 Defense Advanced Research Projects Depression of the 1890s; Great racial, 20 Agency, 75 Depression Diversity lottery for permanent resident missile defense programs, 268 Deregulation, 80–81, 337 visas, 401 Defense Information Systems Agency critics of, 96 Divestment by U.S. companies, 190 (DISA), 77 of economic sectors, 471 Dividends, double taxation of, 475 Defense Intelligence Agency, 292 of energy markets at state level, 95 Divorce, 85 Defense Mapping Agency, 292 under Jimmy Carter, 392 Dix, Dorothea, 505, 506 Defense Plant Corporation (DPC), 76 of transportation industries, 489–490 Dodd, Samuel, 281 Defense Research and Engineering Des Moines, Iowa, 54 Doeg Indian tribe, and Bacon’s rebellion, Network, U.S. Defense Desert Land Act (1877), 41, 81, 203, 274, 20 Department, 77 280, 388, 430 Dole, Bill, 59

Index 679

Dole, Robert, 7 Earned Income Tax Credit (EITC), 105, toward Middle Eastern oil-rich Dole, Sanford B., 269 231 countries, 502 Dollar Earnings, 89 used to win cold war, 501–502 appreciated, 21 Earth Day (April 1970), 295 See also War and economic policy convertible to gold at fixed rate, 156 Earth-friendly projects of Greenpeace, Economic Recovery Act (1948), 90 currencies fixed to, 132 137 Economic Recovery Tax Act (1981), 240, devalued by Smithsonian agreement, East Germany, and Berlin Wall, 26–27 270 260 Eaton, Dorman B., 225 Economic Report of the President (CEA and exchange standard, 32 ECA. See Economic Cooperation Joint Economic Committee), 98 as fiat currency, 358 Administration Economic resources, 422 strength of, 358 Eccles, Marriner, 342, 382 Economic Stabilization Act (1970), 92 Dollar diplomacy, 85–86 Eckert, J.Presper,57 Economic stimulus package (Clinton), 50 of Republican Party, 243 Ecological anarchists, 93 Economic systems Dolliver, Jonathan, 224 E-commerce, 96 as determinant of community Domestic economic policies, U.S. Econometrics, 365 development, 492 government, 387–393 Economic aid to support anticommunist market-driven, 39 era of industrialism, 389–390 governments, 501 Economic theories, 176, 360–365 national emergencies era, 391 Economic and Social Council of United for cause of inflation, 154 New Deal expands federal powers, 392 Nations, 287, 288 Keynesian, 77 promotionalism era, 387 The Economic Consequences of the Peace welfare, 307 Domestic monetarism, 114 (Keynes), 166, 364 Economic warfare Dominican Republic, 86, 133 Economic Cooperation Administration Continental System, 63 Dorr v. United States (1904), 155 (ECA), 90, 177 U.S.-Britain, 279 Dot-coms, 96, 343 See also Marshall Plan (1948) Economics and Statistics Administration Douglas, Lewis, 92 Economic depressions. See Depressions (ESA), 291 Douglas, Stephen Economic Development Administrations Economies of scale, 252 debates with Abraham Lincoln, 258 (EDA), 291 of communications industry, 347 and political advertising, 324 Economic development programs, 92 integrating related companies to form proposes repeal of Missouri Economic freedom principle, 78 monopoly, 267 Compromise, 258 Economic growth and National Cordage Company, 195 and three transcontinental railroads, fostered by science and technology, and telephone industry, 349 277 451 Economies of scope of communications Douglas, William O., 246 through land grants, 121 industry, 347, 349 Dow, Charles, 86 under Reaganomics, 240 Economy Dow Jones Industrial Average, 86 Economic history in evolutionary stages, benefits from immigration, 149 Downes v. Bidwell (1901), 78, 86–87, 155 492 booms during World War II, 314 DPC. See Defense Plant Corporation Economic indicators, 90 changes tracked by census, 42 Dragon’s Teeth (Sinclair), 257 Economic Interpretation of the Democratic Party perceived as Dred Scott v. Sandford (1857), 120 Constitution (Beard), 26, 91 superior, 79 Drought, 264 Economic interventionism (Taft), 86 effects of Vietnam conflict, 300 of 1983, 7 Economic liberalism, 91 as external factor for community and CWA workers, 47 Economic models, 175–176 development, 492 economic consequences, 87 Economic nationalism, 12, 143 federal regulation of, 129 Drugs, 65, 69, 291 of Alexander Hamilton, 141 fueled by baby boomers, 19 Drummond, Thomas S., 136 American System, 178 shaped by opposition to communism, Dual class stocks, 470 Economic Opportunity Act (1964), 56, 55 Dual federalism doctrine, 435 92, 136 stimulated through public works Dual labor market, 495 Economic policies, 50 projects, 234 Duggan, Michael, 333 antitrust legislation as essential stimulated with JFK’s monetary Dukakis, Michael S., 35 element, 332 policy, 300 Dulles, John Foster, 43 domestic, 387–393 war’s effects on, 212, 304–305 Dumping of Franklin D. Roosevelt, 246–247 Economy Act (1933), 92 by foreign manufacturers, 12 during Great Depression, 286 ECOSOC. See Economic and Social GATT rules against, 482 preventing sale of military hardware Council of United Nations of Japanese products, 483 to rogue nations, 103 Ecosocialism, 93 Duplex Printing Press v. Deering (1921), preventing transfer of technologies to Ecuador, 217 169 other countries, 103 EDA. See Economic Development DuPont, 336 reactionary regarding steel, 268 Administration mergers, as chemical cartel, 335 Reagan revolution, 49 Edison, Thomas Alva (1847–1931), Durkheim, Emile, 48 regulation unrelated to investment 93–94, 349, 374, 412 Duryea, Charles and Frank, 17 volume due to debt, 468 Edison effect, 93 Dust bowl, 87, 263 related to war, 497–503 Edison General Electric Company, 94

680 Index

Education, 94, 366–373 against Japan (1940–1941), 162, 163, England desegregation by school busing, 252 313, 481–482 Industrial Revolution, 153 expanded under Morrill Act (1862), 95 lifted against Iraq, 36 mercantilism of colonialism, 53 federal assistance, 224, 371 oil, 100, 214, 313 as principal trading partner of U.S., funding, 371–372 wheat (1979), 105, 106, 330 117 legal, 437 Emergency Banking Act (1933), 24, 342 supports Confederacy, 259 provided by Freedmen’s Bureau, 34 Emergency Currency Act (1908), 9 and taxation that sparked American provided to veterans under G.I. Bill, Emergency funding and loans, federal, 7 Revolution, 30 253 for disasters, 83, 110 textile industry, 151 reforms, 36–37, 370 to farmers, 7 trade with American colonies, 10–11 responsibility of states and localities, Emergency Price Control Act (1942), 98 See also Britain 372 Emigration, 319 English Poor Laws, and modern welfare social impact, 372 Eminent domain and urban state, 504 See also Higher education development, 493–494 English-only movement, 399 Education Department, U.S., 292, 367, Emission controls of autos, 17, 36 Enlistment bonuses, 63 370–371 Emmet, Thomas A., 434 Enron Corporation EEC. See European Economic E-money, 343 accounting scandals, 36 Community Employers collapse, 471 Egan, Maurice F., 301 own rights to employee-developed hidden energy reserves revealed, 96 Egypt, 42, 214 ideas, 413 Enterprise, liberty of, 417 Eighteenth Amendment (1920), 65, 232 required to provide education to child Entitlement programs, 100–101 Einstein, Albert, 397 laborers, 44 Aid to Families with Dependent Eisenhower, Dwight D. view unions as conspiracies, 55 Children, 100 Camp David talks with Khruschev, 53 Employment food stamps, 100 champions modern highways, 110 of children, 44–45 Head Start, 100 and control of crop surpluses, 6 controlled in company towns, 57 Pell grants, 225 Federal-Aid Highway Act, 17 and deficits and surpluses, 33 veterans, 100 and military-industrial complex, 186 full and fair, 67 welfare, 509 and Richard Nixon, 43 as means to end Great Depression, 110 Entrepreneurs, as captains of industry, 40 stops importing sugar from Cuba, 70 national highway construction, 111 Environment, 101–102 and Suez Crisis, 118 in public works projects, 47 costs of irrigation, 159 EITC. See Earned Income Tax Credit See also Full employment; and large-scale industrialization, 93 Elderly, 293 Unemployment NOAA responsible for gathering data insurance fund (social security), 262 Employment Act (1946), 67, 98–99, 124, on, 199 Medicare health insurance, 182 392 problems addressed by United needs of, 508 Employment Standards Administration Nations, 288 pension proposed (Townsend), 274 (ESA), 294 Environmental policymaking/legislation, property tax exemptions, 476 Empowerment zone legislation, 289 101, 247 Electricity, 95, 374–375 Enclosure movement in Europe, 150, Environmental protection access for farmers in remote areas, 6 153, 238, 504 costs excluded in NIPA and telegraph service, 348 Endangered Species Act (1973), 376, 430 measurements, 198 Electronic commerce. See E-commerce Ends/means test for union activities, 169 federal mandate, 101 Elementary and Secondary Education Energy, 99 and globalization, 131 Act (1965), 94 alternative, 36, 137 Green Party and Greenpeace, 137 Elesh, David, 495 crisis, 99–100 legislation under Great Society, 136 Elisa, Mireya, 220 sources, 95, 213 reconciled with economic growth, 102 Elkins, Stanley M., 459, 462 Energy Department, U.S., 377 research at TVA, 273 Elkins Antirebating Act (1903), 143, 157, Energy policy, 374–378 Environmental Protection Agency, U.S. 489 alternative power sources, 376–377 (USEPA), 101, 295–296 Elliott, Carl, 196 electrical revolution, 374–375 Environmental Quality Council, 295 Ely, Richard, 9 geothermal energy sources, 378 Environmentalism Emancipation Proclamation (1863), 59, hydroelectric power, 377 and Alaskan oil, 8, 279 97, 259, 273, 567–568(document) nuclear power, 377 effects on oil industry, 214 Embargo Act (1807), 205 oil revolution, 375–376 impacts energy-related matters, 376 Embargo of 1807, 97 solar power, 377 in opposition to NAFTA, 206 Embargoes, 97–98 transportation revolution, 375–376 in opposition to World Trade of arms and loans against warring wind power, 377 Organization, 311–312 states, 481 Energy Research and Development EPA. See Environmental Protection against California due to FMD, 115 Administration, 377 Agency, U.S. on Cuban sugar, 269 Engels, Frederich, 178, 362 Epidemic diseases epidemiology, Walter as foreign policy, 498 Engerman, Stanley, 458, 459, 463, 464 Reed, 84 against Germany (preceding WWII), Engineering, encouraged due to cold war, Epivir brand Iamivadine, 1 481–482 196, 370 Equal Pay Act (1963), 102, 231

Index 681

Equal Rights Amendment, 310 Export Administration Act (1999), 103 FAP. See Family Assistance Plan Equity receiverships Export Control Act (1949), 64 Farm Bill. See Food, Agriculture, created by Supreme Court, 436 Export Control Act (1949), 102–103 Conservation, and Trade Act described, 434 to prevent technology transfer, 272 (1990) Erie Canal Export-Import Bank, 290 Farm Bill (1985), 107, 263 financed with New York state bonds, Exports Farm Credit Act (1971), 106, 108 469 of agricultural surpluses, 6 Farm Credit Administration, 108 result of well-conceived agriculture’s dependency on, 329 Farm Credit Amendments Act (1985), transportation policy, 487 from China to U.S., 45 105–106 ESA. See Economics and Statistics commercial aircraft, 18 Farm Credit System, 4, 106, 109 Administration comprehensive licensing procedures as first GSE, 5 Espionage Acts (1917, 1918) for, 102 Farm Credit System Capital Corporation, prosecution of Eugene Debs under, cotton, related to slavery, 461 106 153 cotton as, 66 Farm Credit System (FSC), 105 prosecution of labor union leaders embargoed oil to Japan, 214 Farm Credit System Reform Act (1996), under, 153 of grain to Soviet Union, 330 106 Estate taxes, 4 merchandise, 21 Farm crises Estonia, 206 to Philippines, 227 of 1920s, 328 Ethics, 65, 129, 171 subsidies, Gatt rules against, 482 of 1982, 105, 106–107 and poor relief, 505 voluntary restrictions by Japan, 10 Farm Disaster Assistance Act (1987), 107 Ethics in Government Act (1978), 65 Exports to various nations (1789–1790), Farm Security Administration (FSA), E.U. See European Union 479 (table) 107, 329 Europe Extraterritoriality, rights of American Farm Service Agency, 5 economic recovery with Truman citizens, 142 Farm tenancy eliminated under New Doctrine and Marshall Plan, 281 Deal, 107 post-World War II financial aid, 90 F-117 stealth fighter, 76 Farmer Mac. See Federal Agricultural reconstructed with Marshall Plan post Factory system Mortgage Corporation World War II, 177 conditions reforms, 507 Farmer Mac Reform Act (1995), 108 European Economic Community (EEC), implements in North U.S., 12 Farmers 330 spread in England, 153 advocating transportation networks, as economic bloc, 130 FAIR Act (1996). See Federal Agricultural 327 European Recovery Plan. See Marshall Improvement and Reform Act alienated by Grover Cleveland, 49 Plan (1948) (1996) benefit from Cooperative Extension European Union (E.U.) Fair competition Service, 260 and antitrust enforcement, 14 codes, National Industrial Recovery benefit from New Deal legislation, 329 bans certain U.S. imports, 483 Act, 198, 251 benefit from World War I economy, copyright standards adopted, 413 governing guidelines, 290 313 and NAFTA, 119 under National Recovery charged high rates for short-haul trips Evans, Walker, 107 Administration, 200 by railroads, 237 Evil empire, 239 Fair Deal of Harry S Truman, 508 and long-haul/short-haul Examining Board of Architects, Engineers, promoting full employment, 67 discrimination of carriers, 157 and Surveyors v. Flores de Otero Fair Labor Standards Act (1938), 44, 294, New Deal programs offer relief, 202 (1976), 78, 87 420 organize Grange, 197 Exceptionalism, American, 48, 159 minimum wage rate, 187 organize Populist Party, 229 Excess-profits tax, 321 Fair Packaging and Labeling Act (1966), price supports and protective tariffs, Exchange rates 136 180 among currencies, 156 Fair use doctrine, 81 protected by Hawley-Smoot Tariff, 142 defined, 114 Fairbanks, Richard, 348 purchasing power (parity), 223 fixed currency. See Fixed currency Fallen Timbers Battle (1794), 280 and regulated grain elevator rates, 190 exchange rates Fallon, George H., 111 use national marketing quotas, 199 floating. See Floating exchange rates Families, low-income, 7, 36 Farmers’ Alliance movement, and Excise taxes, 475 assisted by U.S. Health and Human Populist Party, 229 benefit-based, 474 Services Department, 293 Farmers Home Administration, 4 removed on distilled liquors, 479 health care, 100 farm operating loans, 7 Existential marxism, 178 housing, 36, 289 and panic of 1819, 22 Expansionism public housing programs, 296 Farming of communism, 281 Family Assistance Plan (FAP), 105 desperate economic conditions, 131 of Japan, 162, 313 Family farms. See Farms, family environmentally responsible, 108 as manifest destiny, 176–177 Family planning, 92 importance of irrigation, 158–159 into Southeast U.S., 227 Family Support Act (1988), 8 at mercy of short-line railroads, 237 and stagflation, 265 Fannie Mae. See Federal National overexpansion and overinvestment, supported by William Seward, 253 Mortgage Association 106 of U.S., 155 Fanning, Shawn, 1 poor practices, 87

682 Index

Farms Federal Law Enforcement Training Federalist Party assets valued as collateral, 7 Center, 295 and Dartmouth College status, 74 estate taxes, 4 Federal National Mortgage Association and government appointments, 223 family, 6, 248, 260, 331 (Fannie Mae), 111 origins, 141 Great Depression crisis, 6 government-backed housing predecessor of Republican Party, 242 improving efficiency, 330 program, 145 Federalists and increased demand for products, 5 Federal Open Market Committee, discredited for traitorous activity migrant laborers join IWW, 153 381–382 during wartime, 98 mortgage loans, 109 Federal Reserve support the Constitution, 113 natural disasters, 107 and bankruptcies of commercial Federation for American Immigration parity purchasing power, 223 banks, 25 Reform, 399 returned to free market system, 6 increased powers of, 24 Feldstein, Martin, 270 subsidies, 4, 6, 123 notes redeemed for gold, 342 FEMA. See Federal Emergency technology improvements, 6 sets interest rates and supplies Management Agency FDA. See Food and Drug Administration currency, 358 The Feminine Mystique (Friedan), 323 FDIC. See Federal Deposit Insurance trading dollars for gold, 32 Feminists Corporation and truth-in-lending requirements, and equal pay for equal work, 102 FDR. See Roosevelt, Franklin D. 282 and sex used to sell products, 323 Federal Agricultural Improvement and Federal Reserve Act (Owen-Glass Act) FERA. See Federal Emergency Relief Reform (FAIR) Act (1996), 6, 108 (1913), 9, 22, 111–112, 121, 155, Administration Federal Agricultural Mortgage 309, 341, 579–592(document) Ferguson, Niall, 304 Corporation (Farmer Mac), 4, 106, Federal Reserve Bank, 379–384 Fermi, Enrico, 397 109 Federal Reserve Board, 29, 112, 382 Fernow, Berhard E., 119 for agricultural and rural housing and Alan Greenspan, 138 Fiber-optics industry,, 352 mortgages, 5 balance of power shifts toward, 381 Field, Marshall, 52 Federal Aid Road Act (1916), 489 composition changed, 382 Field, Stephen J., 417 Federal Aviation Act (1958), 80 created, 179 Filipino-American War, 13 Federal Aviation Administration, 489 given centralized authority, 358 Financial institutions Reform, Recover, Federal Communications Commission inflation-reducing policies, 106 and Enforcement Act (1989), 25 loosens media ownership restrictions, and Paul A. Volcker, 301 Financial Institutions Reform, Recovery, 181 power struggle with Federal Reserve and Enforcement Act (1989), 109 use of NTIA’s computerized bidding banks, 381 Financial instruments, as specie system, 201 restrictive monetary policies (1929), supplements, 354 Federal Contract Compliance Office, 294 135 Financial Management Service, U.S. Federal Crimes Enforcement Network, role determined 380–381, 380 Treasury Department, 295 U.S. Treasury Department, 295 Federal Reserve notes, 112, 132 Financial Services Modernization Act Federal Deposit Insurance Corporation Federal Reserve system, 342 (1999), 343 (FDIC), 22, 109, 342 alters currency, 357 Fire insurance, 402, 403, 404–405 creation of, 25 becomes independent from politics, Firemen’s Magazine (periodical), 75 established with New Deal, 202 383 Fireside chats of Franklin D. Roosevelt, to protect depositors’ savings, 24 and deficit spending, 30 172, 181 Federal Deposit Insurance Corporation effectively controls interest rates, 156 Firesonte, Harvey S., 94 Improvement Act (1991), 25 focused on monetary aggregates, 442 Fish, Jim, 203 Federal Electricity Regulatory and Great Depression, 442 Fish and Wildlife Service conservation Commission, 96 monetary policy (pre–Great policies, 60 Federal Emergency Management Agency Depression), 441–442 Fisher, Irving, 363 (FEMA), 83, 110 reform, 381–382 commodity dollar theory, 131 Federal Emergency Relief Act, 426 since 1960s, 442–443 Fisher equation, 439 Federal Emergency Relief Administration structure described, 29 Fitzhugh, George, 258 (FERA), 110, 507 Federal Road Act (1916), 17 Fixed currency exchange rates, 114, 156 Federal Energy Policy Act (FEPA), 95 Federal Trade Commission (1914), 121 international, 260–261 Federal Farm Loan Act (1916), 5 Federal Trade Commission (FTC) Flagler, Henry M., 245 Federal Fugitive Slave Act, 58 (1916), 14, 34, 112, 334 The Fleischmann Yeast Hour radio Federal government. See U.S. government investigates Microsoft, 58 advertising, 321 Federal Highway Act (1956), 110–111 Federal Trade Commission Act (1914), Fletcher v. Peck (1810), 113–114, 315 Federal Highways Act (1916), 278 14, 112, 322, 333, 390, Flex acres, 114 Federal Housing Administration, 293 593–597(document) Flippen, J. Brooks, 345–346 mortgages for low-income families, 289 Federal Water Protection Act (1972), Floating exchange rates, 114–115, 261, mortgages guaranteed by, 172 376 383 Federal Housing Assistance entitlement Federal-Aid Highway Act (1954), 17, 376 compared to fixed rates, 260 program, 100 Federalist Papers (1787–1788), 113 of international economic system, Federal Land Policy and Management coauthored by Alexander Hamilton 132 Act (1976), 376, 430 and James Madison, 141 supported by Richard Nixon, 260

Index 683

Florida, 278 global involvement based on nations under NATO’s influence, 56 Flynn, Elizabeth Gurley, 153 opposition to Soviet Union, 385 tied to freedom of individual, 364 FMD. See Foot and mouth disease ideological period, 385 and urbanization, 495 Fogel, Robert, 458, 459, 463, 464 isolationism, 159 Free Silver Movement, 71, 357 FOMC. See Federal Open Market noninvolvement reversed with lend- Free trade, 122 Committee lease plan, 172 advocated over protectionism, 37 Food realistic period, 385 in Asia-Pacific region, 484 consumer spending, 62 of Republican Party, 243 as basis for capitalism, 13 prices lowered, 6 Republican Party perceived as on basis of cost-efficiency, 21 Food, Agriculture, Conservation, and superior, 79 compared to monopolies, 39 Trade Act (1990), 114 utopian period, 385 global, 130 Food and Drug Administration (FDA), under William Seward, 253 increased internationally, 36 115 Foreign trade. See Trade policy and International Trade Organization, Food for Peace Program, 290 Forest Homestead Law (1906), 30 156 Food safety laws, 163, 164 Forest Reserve Act (1891), 119, 430 among NAFTA partners, 483 Food Security Act (1985), 107, 331 Forest Service, U.S., 60 opposed by AFL-CIO, 10 Food stamp program (USDA), 6, 100, Fort Knox, 119–120 post–World War II policies, 165 230, 330 FORTRAN programming language, 57 principles of Open Door, 501 Foot and mouth disease (FMD), 115 Forty acres and a mule, 120 promoted for Western Hemisphere, Foraker Act (1900), 86 Fossil fuel reserves, 99, 374 216 Forbes, Francis, 412 4-H Clubs organized under Smith-Lever -protectionism debate, 479–480 Force Act (1833), 116 Act, 260 through NAFTA, 36 authorizes force against South Fourteen Points of Peace (Wilson), 309, value of (Ricardo), 361 Carolina, 271 501 zone among NAFTA countries, 206 and nullification crisis, 161 Fourteenth Amendment (1868), 46, 190, Free Trade Area of the Americas (FTAA), Ford,Gerald R. 120–121, 259, 308 122–123, 483–484 antitrust enforcement, 14 equal protection clause, 20 Freedmen’s Bureau, 34, 42 and deregulation of airlines, 80 Fox, Stephen, 324 economic support post–Civil War, economic policy, 265 France 120 Ford,Henry, 17, 426, 489 economic pressure against Britain, 63 first federal welfare agency, 506 attempts to acquire Muscle Shoals Indian policy, 150 Freedom dues payable to indentured plant, 273 Louisiana Purchase, 117 servants, 150 and Edison, 94 member of CoCom, 64 Freedom of Information Act, 193 installment plan established, 68 member of Group of Seven, 139 Freedom-to-farm policy, 331 Ford,Henry (1863–1947), 116, 374 member of NATO, 206 Freemont, Thomas, 128 Ford Motor Company, 116, 375 seizes U.S. ships, 205 Free-Soil Party, 121–122, 299 Fordney-McCumber Tariff (1922), 5, 12, sells Louisiana Territory to U.S., Civil Service System reforms, 225 117, 142 173–174 forms Republican Party, 242 exempts farm cooperatives from support of colonial military, 63 in West, 424 antitrust prosecution, 328 U.S. embargoes against, 97, 98 Whigs defect to, 307 wipes out reductions of Underwood- in Vietnam, 299 Free-Trade Advocate (periodical), 171 Simmons Tariff Act, 285 Franck, James, 397 Freezes Foreign Affairs and Restructuring Act Frankfurt School critical theory of all target prices, 7 (1998), 297 (Marxism), 178 on all wages and prices, 92, 303 Foreign aid programs Franklin, Benjamin of Japanese assets (1941), 163, 482 entwined with foreign policy, 386 first post-master general, 347 Panamanian assets in U.S. banks, 220 for increased globalization, 131 negotiates peace with Britain (1783), on terrorists’ assets, 449 lend-lease assistance to Allied powers 278 wage (World War II), 294 (World War II), 172 newspaper of, 319 workers’ wages to control inflation, through USAID, 290 organized fire insurance company, 201 Foreign Assistance Act (1948), 56 402 Freight rate regulations, 237 Foreign competition on public school education debate, 94 Fremont, John C. farmers protected from, 5 on trade, 477 and Committee on the Conduct of operating without, 37 Franklin Institute, 452 the War, 54 Foreign direct investment, 189 Fraternal benefit societies life insurance, first Republican presidential value in U.S., 190 405 candidate, 243 Foreign policy, U.S., 117–119, 118, Free banking systems, 340, 356 French and Indian War (1756–1763), 53, 385–386 Free market economic system, 56, 121 123–124, 205, 478, 497 dollar diplomacy, 85 creating wealth, 40 and increased control of Britain over and economic policy, 501 election of Reagan, 337 colonies, 261 of embargoing, 498 and Great Depression, 135 French Revolution, 498 formulated on economics, 385–386 for nations decimated by World and U.S. foreign relations, 117 of Franklin D. Roosevelt, 247 War II, 56 Frick, H. C., 425

684 Index

Friedan, Betty, 323 Gambier, James Lord Baron, 279 member of Group of Seven, 139 Friedman, Milton, 105 GAO. See General Accounting Office member of NATO, 206 Chicago School, 364 Garcia v. San Antonio Metropolitan monetary stabilization post World and eminent domain, 493–494 Transit Authority (1985), 420 War I, 74 on floating exchange rates, 114 Garfield, James A., assassination, 224, 225 Nazi militarism, 118 monetarist position, 383 Garn-St. Germain Depository post–World War II decartelization, monetary theory of, 270 Institutions Act (1982), 25, 343 336 on natural rate of unemployment, 125 Gas, exploration curtailed, 376 reparations (World War I), 74, 313 on Nixon’s wage-price freeze, 303 Gates, Bill, 185, 337 U-boats sink passenger ships, 184 on quantity theory, 154 GATT. See General Agreement on Tariffs U.S. reeducation programs supports floating exchange rates, 261 and Trade post–World War II, 297 FSA. See Farm Security Administration GDP. See Gross domestic product violates disarmament treaties, 82 FSC. See Farm Credit System General Accounting Office (GAO), 33 GI Bill of Rights (1944), 68, 145, 253, 369 FSLN. See Sandinista National Liberation General Agreement on Tariffs and Trade veterans’ access to university Front (GATT) (1947), 12, 118, 122, 128, education, 95 FTAA. See Free Trade Area of the 329, 345, 482, 501–502 vocational and educational benefits, Americas follows International Trade 369 FTC. See Federal Trade Commission Organization, 157 as wartime welfare legislation, 508 Fugitive Slave Acts (1793, 1850), 124, intellectual property rights principles, Gibbons, Thomas, 129 232, 258 413 Gibbons v. Ogden (1824), 129, 237, 278, Fulbright, J. William, 297 Kennedy Round, 165 416, 434 Fulbright Scholars program, U.S. opposed by Green Party, 137 Gilded Age, 327, 362 Information Agency, 297 replaced with World Trade Gingrich, Newt, 206, 509 Full employment, 124–125 Organization, 311 Ginnie Mae. See Government National achieved by regulating aggregate supported by Republican Party, 243 Mortgage Association demand, 166 and U.S. globalization plan, 130 Girard, Stephen, 341 achieved by war mobilization, 212 General Electric Glasnost, 27 budget, 33 industrial research laboratory, 454 Glass, Carter, 24, 129, 380, 381 as entitlement, 98 merger with Honeywell prohibited by Glass ceiling, 310 failure, 98 European Commission, 338 Glass-Steagall Banking Act (1933), 25, promoted by Harry S Truman, 67 and Phoebus cartel, 335 109, 129–130, 342, 382, 471 Full Employment and Balanced Growth General Motors, 17, 321 established with New Deal, 202 Act (Humphrey-Hawkins Bill) General Revision Act (1891), 430 Global warming, 137 (1978), 98, 125 The General Theory of Employment, proposals by United Nations, 288 Full Recovery or Stagnation (Hansen), 77 Interest, and Money (Keynes), 165, Globalization, 130–131 Fuller, Melville W., 289, 417 166, 392 opposition to, 312 on unconstitutionality of income tax, Genetic engineering, 137 promoted by IMF, 156 229 Geological Survey, U.S., 429 redistributing U.S. automobile Fuller Supreme Court (1888–1910), 417 George, Henry (1839–1897), 128–129, 362 industry, 17 Fulton, Robert, 129 George III (king of England) Glorious Revolution (1688), 53 Fuminaro, Konoe, 162 and Boston Tea Party, 30 GNP. See Gross national product “Functional Finance and the Public grants Dartmouth College charter, 74 Goddard, William, 348 Debt” (Lerner), 77 George-Barden Act (1946), 370 Gold Functional finance view of government George-Deen Act (1936), 369 demand for trading, 468 budgets, 134 George-Reed Act (1929), 369 discovered in Alaska, 279, 357 Funding and Assumption Act (1791), 141 Georgetown University, 50 discovered in California, 132, 356 Fur trade with Native Americans, 20, 477 Georgia, 113 redeemed for state notes, 220 Geothermal energy sources, 378 reserve drops (1893), 256 G-7. See Group of Seven Gephardt, Richard, 206 run and panic of 1893, 222 G-8. See Group of Seven Germ theory, 183 Gold bullion G-77. See Group of 77 German Alliance Insurance Co. v. Ike depository, 119 Gadsden, James, 127 Lewis, Superintendent of Insurance fixes price, 132 Gadsden Purchase (1854), 127, 429, (1914), 405 Gold Reserve Act (1934), 131–132 562–564(document) German immigrants, 395 Gold rush Gage, Lyman, 52 German model of stock market, 466 Alaska, 222, 357 Galbraith, John Kenneth, 364, 509 German Social Democratic Party, 47 Australia, 222 Gallain, Albert (1761–1849), 127–128 Germany California (1849), 132 Gallatin, Albert, 388, 486 automakers, 17 Gold standard, 49, 132, 356 and Treaty of Ghent, 279 Berlin Wall, 26–27 abandoned, 131 Gallaudet College, 371 blockades in World War I, 312 compared to bimetalism, 52 Gallup, George, 322 decartelization fails, 437 described, 439 Galveston, Texas, 54 implements social insurance system, favored in East, 28 commission government, 66 506 and panic of 1893, 222

Index 685

removed by Richard Nixon, 260 and changes in Federal Reserve GRH. See Gramm-Rudman-Hollings, replaces bimetalism, 71 system, 442 Balanced Budget, and Emergency supported by Republican Party, 243 eased by New Deal, 202 Deficit Control Act (1985) Gold versus silver, 132–133 Economy Act to promote recovery, 92 Grodinsky, Julius, 245 Goldstein, Ira, 495 Employment Act (1946), 67 Gross domestic product (GDP), 138 Golembiewski, R. T., 67 farm crisis, 6 declines, 135 Gompers, Samuel, 425 and foreign trade policy, 481 as economic indicator, 90 in Anti-Imperialist League, 13 and Franklin D. Roosevelt, 246 and recessions, 240 Gooch, Daniel, 54 and Glass-Steagall Banking Act Gross national product, 138–139 Good Feelings era, 12 (1933), 129 Group insurance policies, 406 Good Neighbor Policy, 133–134, 247 gold standard effects on, 71 Group of 77 (G-77), 287 Goods and services protected by Huey Long’s Share Our Wealth plan, Group of Seven (G-7, G-8), 139 trademark law, 411 254 Growth recession, 240 Gorbachev, Mikhail and immigration quotas, 397 Grundy, Felix, 39 and end of cold war, 53 impetus for Employment Act (1946), Grutter v. Bollinger, 3 institutes perestroika, 27 98 GSEs. See Government-sponsored and U.S. SDI research, 239 increase of tariffs, 37 enterprises Gore, Al, 36 isolationism of, 159 Guam Goulburn, Henry, 279 mass bank failures, 22 ceded to U.S., 264, 265 Gould, Jay, 167, 425 pensions for elderly needed, 274, 275 U.S. acquires as colony, 118 causes market crisis in 1869, 203 related to massive financial Guantanamo Bay, Cuba, U.S. naval base, as robber baron, 244, 245 speculation, 80 70 Government budgets, 134 relief programs, 46 Guatemala, 85 Government National Mortgage social welfare demands of, 507 Guernsey Dam (1927), 73 Association (Ginnie Mae), 293 unemployment, 286 GUI-based operating systems, 58 Government-sponsored enterprises veterans’ financial hardships, 30 Gulf War, economic considerations, 502 (GSEs), 5 Great Lakes-St. Lawrence system Guns and butter, 67, 68 Governor’s Bulletin, 29 transportation policy, 486 Gypsies, as immigrants, 397 Graded schools, corporate model, 368 Great Plains dust bowl, 87 Gramm, Phil, 130, 134 Great Railroad Strike (1877), 136, 425 Hackett, David, 56 Gramm-Leach-Bliley Financial Services Great Society (Johnson), 3, 46, 136–137 Haiti Modernization Act (GLB) (1999), creates National Endowment for the dollar diplomacy by U.S., 85 25, 407 Arts, 196 refugees, 398 Gramm-Rudman-Hollings, Balanced and Economic Opportunity Act, 92 U.S. withdraws Marines from, 133 Budget, and Emergency Deficit federal intervention in economy, 121 Hakluyt, Richard, 360 Control Act (GRH) (1985), speech (document), 614–616 Haldeman, Bob, 260 134–135 Greater East Asia Co-Prosperity Sphere, Hale, George Ellery, 454 Grand Coulee Dam, 73 162–163, 313 Hamilton, Alexander (1755–1804), 141, Grand jury, 434 Greece 423 Grange member of CoCom, 64 and American industrial revolution, attempts to control freight rates, 237 member of NATO, 206 152 increases buying power of farmers, U.S. support against Soviet threat, 281 asserts government’s power over 197 Green Party, 137, 193 currency, 354 See also National Grange of the Greenback Party, 229 coauthors Federalist Papers, 113 Patrons of Husbandry (1867) Greenbacks creates First Bank of United States, 23, Granger Laws, 389, 488 eliminating, 244, 256 339–340 Grant, Ulysses S. fiat currency of government, 356 debates with Jefferson over and panic of 1873, 221 as uniform currency, 194 Constitution, 60 and patronage as corruption issue, 65, See also Paper currency economic recovery program, 22, 40, 225 Greenhouse gases, 100 361 The Grapes of Wrath (Steinbeck), 87, 263 Greenpeace, 137–138 and foreign trade, 478 Grassley, Charles, 59 Greenspan, Alan (1926– ), 29, 138, 342, and high protective tariffs, 37 Gratz v. Bollinger, 3 359, 393, 448 intellectual property rights debate, Gray, Elisha, 349–350 controlling stagflation, 154 410 Great Awakening, 366 efforts to stimulate economy/cut plan for paying U.S. debts, 242 and moral implications of slavery, 463 interest rates, 156 reports on manufacturing, 241 Great Britain. See Britain; England inflationary hawk, 138 and strong centralized government, The Great Compromiser (Henry Clay), proponent of laissez-faire economics, 344 48 138 Hammer v. Dagenhart (1918), 165, 418 Great Contraction, 23 Grenville, George, 11, 130, 266 Hammer v. Dagenhart (1937), 345 Great Depression (1929–1941), 135–136 pushes Stamp Act (1767), 205 Hammond, James Henry, 258 attributed to deficient aggregate Grenville, William, 163 Hampton Institute, 368 demand, 77 Gresham’s Law, 71 Hancock, John, 43

686 Index

Handbills as form of advertising, 319 federal support of, 372 transportation policy, 489 Hanna, Mark, 247 as poverty program, 230 Hill, George Washington, 321 Hansen, Alvin, 77 Head tax levied on immigrants, 396 Hill, James J., 207, 488 Harding, Warren G. Healing Power of the Arts, Columbine Hill, Lister, 196 increases tariff protection, 117 High School, Colorado, 196 Hispanics, and poverty, 62 pardons Eugene Debs, 75 Health, Education, and Welfare (HEW) History of the Expedition of Captains Harlan, John Marshall, 289, 417, 418 Department, U.S., 292, 508 Lewis and Clark (Biddle), 27 Northern Securities Company Health and Human Services Department, The History of the Standard Oil Company decision, 208 U.S., 115, 292–293 (Tarbell), 245 Harmar, Josiah, 280 Health care HIV. See Human immunodeficiency Harper v. Virginia Board of Elections consumer spending, 62 virus (1966), 228 costs associated with AIDS, 1 Hmong refugees, 398 Harriman, E. H., 207 for low-income families, 100, 181 HMS Leopard, fires on USS Chesapeake, Harriman Expedition (1899) to Alaska, provided by Health and Human 97 279 Services Department, 293 Ho Chi Minh, 299 Harrington, Michael, 509 reforms, 36 Hoar, George F., 13 Harris, Mary (Mother Jones), 152 universal coverage, 50 Hobby, Oveta Culp, 292 Harris, Patricia Roberts, 292 Health insurance, 406, 407 Hoffman, Paul, 90, 177 Harris Treaty (1858), 141–142 for elderly and disabled Americans, 182 Hofstadter, Richard, 14 Harrison, Benjamin, 14 financed by employers, workers, Holding companies defeats Grover Cleveland, 49 taxpayers, 506 National Cordage Company, 195 designates forest reserves, 119 high costs, 183 Supreme Court condemns, 334 Harrison, Bennett, 494, 495 Health Insurance Portability and used by Rockefeller, 40 Harrison, William Henry, 22 Accountability Act (HIPAA), 407 Hollings, Ernest, 134 Sherman Silver Purchase Act (1890), Health Maintenance Organization Act Holmes, Oliver Wendell, 334, 418, 419 132 (1973), 407 and political advertising, 324 Whig Party candidate, 307 Health maintenance organizations, 407 redefines Sherman Anti-Trust Act, 208 Harrison Land Act (1800), 428 Health Professions Education Assistance Home Building and Loan Association v. Hartley, Fred, 170 (1965), 371 Blaisdell (1934), 419 Hart-Scott-Rodino Act (1976), 337 Hearst, William Randolph, 180–181, 265 Home ownership, 172 Harvey,David, 493, 494 Heart of Atlanta Motel v. United States Home-based businesses using computers, Harvey,William H., 51–52 (1964), 420 58 Hatch Act (1887), 4, 453 Heckscher-Ohlin theory of mercantilism, Homeland Security Agency. See Haugen, Gilbert, 328 21 Homeland Security Department, Hawaii, 13, 142, 142 Hegel, Friedrich, 362 U.S. sugar producer, 269 Hegelian marxism, 178 Homeland Security Department, U.S., 37 Hawaii v. Mankichi (1903), 155 Hegemony, 135 and Customs Service, 262 Hawala system for money laundering, The Hell of War and Its Penalties, 13 and FEMA, 110 448, 449 Helms-Biden Act (1999), 288 includes SDI research, 269 Hawley, Amos, 492, 494 Helvering v. Davis (1937), 419 U.S. Customs Service, 291 Hawley-Smoot Tariff (1930), 37, 133, Henderson, Leon, 212 Homelessness, 42 142–143, 233, 345 Henry, Joseph, 453 Homestead Act (1862), 144–145, 280, opposed by Cordell Hull, 146 Henry, Patrick, 266 327, 388, 429, 565–566(document) rates at all-time high, 243 Hepburn Railroad Regulation Act (1906), Homestead Steel Plant strike (1892), 15, speech by FDR opposing (document), 143–144, 157, 390 79, 425 605–609 Herfindahl-Hirschman Index, 337 and Pinkerton Agency, 227 Hawtrey, Ralph, 77 Hess, Victor F., 397 Homosexual community, 1 Hay, John, 480, 500 Heston, Charlton, 84 Honduras, 85 and China diplomacy, 45 HEW. See Health, Education, and Welfare Honecker, Erich, 27 Danish West Indies purchase, Department Hoover,Herbert,187 300–301 The Hidden Persuaders (Packard), 322 associationalism, 391 Open Door Policy to China, 122, 215 Higher education and bank failures, 342 Hayden survey (1867–1878), 429 federal aid to, 368 and Good Neighbor policy, 133 Hayes, Jimmy, 345 G.I. Bill of Rights impact, 253 National Credit Administration, 24 Hayes, Rutherford B. increases due to land grants, 367 supports Hawley-Smoot Tariff, civil service system reform of, 224 influenced by Soviet threat (cold war), 142–143, 610–613(document) end of Reconstruction, 42 196 and veterans’ Bonus March, 30 veto of Bland-Allison Act, 28 See also Education Hoover Dam (1933–1947), 73 Haymarket Square Riot, 168 Higher Education Act (1965), 371 Hopkins, Claude C., 320 Hay-Pauncefote Treaties (1900, 1901), High-tech industries, 144 Hopkins, Harry L., 455 143, 486 Highway Safety Act (1966), 136 Civil Works Administration, 47 Haywood, William (Big Bill), 152, 153 Highways, national, 110–111 and Federal Emergency Relief Head Start Project, 92, 100, 371 as infrastructure, 154 Administration, 110

Index 687

Public Works Administration, 247 Hungary, 27, 206 illegal (smuggling), 261 supports advertising oversight, Hunkers, pro-slavery, 121 impost (tax), 63 321–322 Husbands, Sam, 76 restrictions on U.S. by Cuba, 70 Horizontal equity tax structures, 474 Hydrates, as source of gas, 100 sugar, 78, 86, 142, 227, 269 Horizontal integration, 40 Hydroelectric power, 374–375, 377 taxes to generate revenue, 244 Horseshoe Bend Battle (1814), 145 Tennessee Valley Authority, 190, 202 to various nations (1789–1790), 479 Hospitals, Veterans Administration, 100 Hyperinflation, 154 (table) Hot cargo agreements, 199 Impost, as source of income for Household expenditures, 62 IBM, 57, 58 Continental Congress, 63 Housing, 427 and antitrust enforcement, 14 Impress, of U.S. sailors into Royal Navy, in company towns, 57 ICC. See Interstate Commerce 117, 163, 279, 305 conditions for poor people, 505 Commission Income consumer spending, 62 Iceland, 206 inequality, 51 discrimination, 46, 293, 492, 493 Ickes, Harold L., 234, 247 measured with CPI, 61 equated with community IG Farbenindustrie, merges with DuPont Income tax, 473, 474–475 development, 145 for chemical cartel, 335 declared unconstitutional, 228–229 inner city, 146 Illegal aliens, 398 as direct tax, 229 legislation, 493 IMF. See International Monetary Fund established with Underwood- loans for veterans under G.I. Bill of Immigrants, 232, 399 Simmons Tariff Act, 285 Rights, 253 and child labor, 44 finances World War I effort, 500 low-cost/low-income, 36, 100, 289, 508 construct transcontinental railroad, 277 graduated, 37, 179, 230, 285 mass-produced, 172 detention of illegals, 70 included in Wilson-Gorman Tariff public, attacked as socialist, 493 economic, 398 Act, 308 reforms, 507 excluded from law schools, 437 indexed to CPI’s inflation rate, 61 replacement residential, 146 illegal Mexicans, 149 linked to wealth, 306 rural, 4, 108, 109, 248 increased number of visas, 401 negative, 105 and U.S. Housing Authority, 296 join IWW, 153 personal, 37, 146 Housing Act (1949), 145–146, 289 as labor force, 394, 424 progressive, 306 Housing Act (1954), 146, 289 and service businesses, 399 sanctioned by Sixteenth Amendment, Housing Act (1968), 293 Immigration, 149. See also Immigrants; 256 Housing and Community Development Immigration policy Indentured servitude, 150, 394 Act (1992), 447 Immigration Act (1882), 396 as colonial labor force, 422–423 Housing and Urban Development Immigration Act (1924), 149 Independent Officers Appropriation Act Department, U.S. (HUD), 136, 293 Immigration Act (1990), 401 (1934), 93 Housing Authority, U.S., 296 Immigration Act (Johnson-Reid Act) Indian confederation, in War of 1812, Howard, Oliver Otis, 34 (1924), 397 305 of Freedmen’s Bureau, 120 Immigration and Nationality Act (1952), Indian New Deal, 150–151 Hower, Ralph, 319–320 397 Indian policy, 150–151 Hubbert, M. King, 374 amended by Patriot Act, 449 limited home rule, 150 Hubbert Curves, 374 Immigration and Naturalization Bureau, Indian Removal Act (1830), 276 Hubble telescope, of NASA, 194 291–292, 399 Indian Reorganization Act (1934), 35 The Hucksters (Wakeman), 322 Immigration policy, 394–401 Indian reservation system HUD. See Housing and Urban Chinese exclusion, 395 under Dawes Severalty Act, 74–75 Development Department, U.S. effects of September 11, 2001, 401 termination of, 151 Hughes, Charles Evans, 419 exclusion (1914–1965), 396 Indian wars Hughes Supreme Court (1930–1941), first great wave (1830–1860), 395 handled by U.S. army, 499–500 419–420 quotas, 397, 398 and U.S. policy of expansion into Hull, Cordell (1871–1955), 146–147, 481 reforms, 398–399 Native American lands, 498 advocates Reciprocal Trade responsibility of federal government, Indianapolis, Indiana, 136 Agreements Act, 241 not states, 396 Indians noninterventionism, 133 restrictiveness, 398 assimilation policy, 150 proposes International Trade for talented and meritorious forced removal of, 276 Organization, 156 individuals, 398 treaty to open Ohio for settlement, Hull, William, 39 tied to labor market demands, 397 279 Human ecology of urban development Immigration Reform and Control Act tribes as trading partners with theory, 492 (1986), 397, 399 colonists, 477 Human immunodeficiency virus (HIV), Imperialism, 13, 243 used as slaves, experimentally, 459 1, 288 Import and export indexes, as economic See also Bureau of Indian Affairs; Humanities, federal support of, 196 indicators, 90 Native Americans Hume, David, 184, 241 Imports Individualism Humphrey-Hawkins Bill. See Full duties, 37, 180 of laissez-faire economics, 171 Employment and Balanced duties reduced/increased by executive and poor relief, 505 Growth Act (1978) branch, 241 Indochina, 163

688 Index

Indonesia, 217 companies, and health care reform, 50 International Trade Organization, Industrial heartland, 151 companies, used for money 156–157 Industrial production laundering, 445 Internationalization, followed by conversion to military production, fire, 402, 403, 404–405 divestment, 190 313 group, 406 Internet increases in World War II, 313 health, 406, 407 advertising, 322, 323 index as economic indicator, 90 joint-stock companies, 403 created by DARPA, 76 wartime, 201 life, 403, 404, 405–406, 407 and growth of stock market activity, Industrial Revolution (1860–1890), 47, marine, 402, 403, 404 283 151 model rate laws, 406 and personal computers, 352 British (1780–1840), 153, 238 mutual companies, 402, 404 service providers, liability, 81 changes in labor, 15, 395–396 property, 406, 407 Internet Explorer, 185 creates jobs, 425 rate regulations, 405, 406 Interstate commerce Soviet (1920s–1950s), 153 regulations, 404, 405, 407 compared to intrastate commerce, Industrial Workers of the World (IWW), and self-regulation, 405–406 251 152–153 tontine, 403, 405 Congress controls, 129 Industrialization, 153 Integrated circuits, in computers, 57–58 regulated by federal government, 199, and city expansion, 491 Integration, court-mandated, 188 278 education is geared toward, 368 Intel microprocessor, 58 Interstate Commerce Act (1887), 49, 389, of Japan, 162 Intellectual property (IP), 409–414 417, 488 recovery after Great Depression, 198 and antitrust suits, 15 regulates railroad freight rates for and robber barons debate, 244 computer programs under copyright farmers, 237 INF> See Intermediate-Range Nuclear- law, 411 Interstate Commerce Commission (ICC) Force Missile Treaty English rights, 410 (1887), 49, 121, 157, 327, 490 Inflation, 153–154 as large economic sector, 414 granted enforcement power by and banks’ legal environment, 25 law, as factor in technological Hepburn Railroad Regulation Act, calculated with CPI, 61 development, 457 144 controlled by Federal Reserve, piracy by China, 45 halts harmful effects of unfair 342–343 Intellectual Property and competition, 143 influenced by Vietnam conflict, 299 Communication Omnibus Act monitors railroad industry, 237 during Korean War, 68 (1999), 10 Interstate Highway and Defense Act leads to macroeconomic instability, Intellectual Property Protection (1956), 346 175 Memorandum (1992), 45 Interventionist policies and monetary policy, 188 Interest rates, 155–156 to achieve trade surpluses, 184 numerical targets for, 125 of credit cards, 69 in Latin America, 133 prevention of, 212 cut by Federal Reserve, to stimulate in Western Hemisphere, 133 under Reaganomics, 240 economy, 359 Intolerable Acts (1774), 30, 62, 157–158 as result of war, 304 described, 439 Introduction to Economic History (Gras), as social problem, 303 as economic indicator, 90 492 stemmed by wage and price controls, and monetary policy, 188 Inventions, protected by patent law, 409, 92 raised to curtail gold exports, 358 411 Influenza epidemic (1918–1920), 84 See also Prime interest rate Inventory:sales ratios, as economic Information access, through NTIS, 201 Interior Department, U.S., 35 indicators, 90 Information Agency, U.S. (USIA), Bureau of Reclamation, 204 Investment Advisers Act (1940), 252 296–297 Intermediate-Range Nuclear-Force (INF) Investment banking, 341 Infrastructure, 154, 162 Missile Treaty, 239 related to market instability, 80 Inheritance linked to wealth, 306 Internal Revenue Service (IRS), 90, 295 Investment Company Act (1940), 252 Inquiry into the Nature and Causes of the International Broadcasting Bureau, 297 Invisible hand Wealth of Nations (Smith), 91 International Business Machines. See of federal government, 68, 361 Insider trading, 203 IBM of market, 486 Installment plan, for purchase of autos, International Cooperation Agency, 290 IP. See Intellectual property 68 International Education Act (1966), 371 Iran Institutional economics, 363 International Monetary Fund (IMF) Baghdad Pact (1955), 42 Institutional investors, 471 (1944), 156, 287, 358 and Export Administration Act Insular Cases, 78, 86, 87, 155 created, 32 (1999), 103 Insular Possessions, rights of inhabitants, currency conversion rates, 21 member of OPEC, 217 155 and globalization, 130, 131 revolution (1981), 16, 43, 158 Insurance, 402–408 and industrialization of Third World as rogue state, 83 British, 402 countries, 153 U.S. weapons covertly sold to, 158 cases heard by Supreme Court after and Smithsonian agreement, 260 and weapons of mass destruction, 1944, 435 International Trade Administration 273 casualty, 405, 406 (ITA), 291 Iran-Contra (1986–1987), 158, 204

Index 689

Iraq removal of Indians policy, 150, 276 JFK. See Kennedy, John F. 2003 war, 36 and spoils system, 65, 224 Jim Crow laws, 46, 308 Baghdad Pact (1955), 42 vetoes charter of Bank of United Job Corps, 92, 136, 509 and Export Administration Act States, 355 Jobs and Growth Plan (2003), 36 (1999), 103 Jackson, James, 315 John Brown’s raid on Harper’s Ferry, 258 member of OPEC, 217 Jackson, Robert, 420 Johns Hopkins University, 9 as rogue state, 83 Jacksonian era, 69 Johnson, Andrew UN embargo against, 98 James, William, 13 member of Committee on the and weapons of mass destruction, 273 James II, king of England, 53 Conduct of the War, 54 withdrawal from Baghdad Pact, 43 Jamestown, Virginia Colony, burned, 19, pardons Confederates, 34 Irish immigrants, 395 20 supports labor unions, 55 Iron Curtain, 27 Japan, 162, 297 Johnson, Hugh S., 200, 328 Irrigation, 158–159 active in Philippine economy, 227 Johnson, Lyndon B., 3 of arid land, 41 antidumping suits filed against, 268 antitrust enforcement, 14 promotion of, 41 automakers, 10, 17 and civil rights, 2, 46 required under Desert Land Act, 81 bans certain U.S. imports, 483 and Economic Opportunity Act, 92 of western desert lands, 203 commercial and diplomatic relations economic policies during Vietnam IRS. See Internal Revenue Service with U.S., 142 conflict, 299 Islands in the stream neighborhoods, 495 decartelization, 336, 437 and educational reform, 370 Isolationism, 159, 385 economic power of, 52 Great Society programs, 6, 136–137 ends with lend-lease plan, 172 embargoes against, 98, 162, 501 Great society speech (document), for World War II, 26 firebombing of (World War II), 162 614–616 Israel, 118 Harris Treaty (1858) with U.S., Medicaid and Medicare, 100, 182 Issue advertising on television, 324 141–142 NEA agency, 196 Isthmian canal immigrants to U.S. excluded, 395 NEH agency, 196 British rights to control, 486 industrialization of, 162 War on Poverty, 56, 509 and Hay-Pauncefote Treaties, 143 member of CoCom, 64 Johnston, J. Bennett, Jr., 345 Nicaragua as possible site, 204 member of Group of Seven, 139 Joint Economic Committee, 98 U.S. interest in, 220 militarism, 118 Joint-stock insurance companies, 403 See also Panama Canal; Panama Canal -U.S. trade policy, 481, 483 Jones, Edward Davis, 86 Treaty (1903, 1977) violates CoCom’s policy, 64 Jones, Jesse H., 76 ITA. See International Trade violates disarmament treaties, 82 Jones, William, 22 Administration See also Voluntary export restrictions Jones-Castigan Act (1934), 70 Italian immigrants, 396 Japanese oil embargo (1940–1941), Jordan, David Starr, 13 Italy 162–163 Josephson, Matthew, 245 lira floats, 261 Jay, John Journal of Economic Literature member of CoCom, 64 contributes to Federalist Papers, 113 (periodical), 9 member of Group of Seven, 139 first commercial treaty of U.S. with Journal of Economic Perspectives member of NATO, 206 Britain, 163 (periodical), 9 Ivanhoe, L. F., 374 negotiates peace with Britain (1783), Judicial review principle, 177 IVillage.com, 96 278 Judiciary, 415–421 IWW. See Industrial Workers of the Jay Gould: His Business Career See also Supreme Court, U.S. World (Grodinsky), 245 Julian, George, 54 Jay’s Treaty (1795), 163, 498 The Jungle (Lewis), 163–164, 235, 256, J. P. Morgan Company, 9 Jefferson, Thomas 345, 507 J. Walter Thompson advertising agency, brings embargo against France and Juries, 308, 434 321 Britain, 97 Jurisprudence, U.S. distinct from British, Jackson, Andrew (1767–1845), 12, 22, 48, conflicts with Alexander Hamilton, 434 161–162, 299, 324 60, 141 Justice Department, U.S., 14, 336 attempts to enforce Tariff of on education, 94 Juvenile delinquency, 56 Abominations, 271 ethics of, 129 defeats British at Battle of New on first U.S. patent board, 451 Kain, John F., 494 Orleans, 305 forms Democratic Party, 78 Kamehameha III, king of Hawaii, 142 Horseshoe Bend Battle, 145 intellectual property rights debate, Kansas, 136 and national bank, 23 410 admitted as free state, 258 and Nicholas Biddle, 27 on national bank, 23 Kansas Pacific Railroad, transcontinental, nullification crisis, 208 system of balanced government, 44 277 opposes Second Bank of United and Yazoo Land deal, 315 Kansas-Nebraska Bill (1854), 253 States, 340 Jenckes, Thomas, 225 Kautsky, Karl, 263 and panic of 1819, 221 Jewelry dealers, used for money Kaysen, Carl, 336 rejects federal funding for laundering, 445 Keating-Owen Act (1916), 165 transportation, 178 Jewish immigrants, 396, 397 Kelly, Oliver, 197

690 Index

Kelly Air Mail Act (1925), 454 Knox, Philander C., 85 and Supreme Court’s interpretation of Kemp, Jack, 270 Kongsberg-Vaapenfabrikk, 64 commerce clause, 435 Kennedy, Edward, 81 Korean GI Bill, 370 Labor-Management Relations Act (1947), Kennedy, John F. (JFK) (1917–1963), 46 Korean War (1950–1953), 52, 56 169, 170, 199, 427 affirmative action, 2 Kregel, J. A., 77 Labor-Management Reporting and Alliance for Progress, 9, 216 Kristol, Irving, 270 Disclosing Act. See Landrum- antipoverty programs, 56 Kropotkin, Peter, 93 Griffin Act (1959) closing the missile gap with Soviet Krug, Julius, 306 Labor-Management Standards Office, 294 Union, 56 Ku Klux Klan, 149 Ladies’ Home Journal (periodical), 320 Commission of Status of Women, 310 Kuwait, 217 Laffer, Arthur, 240, 270, 393 educational reform, 370 Kuznets, Simon, 89, 198 Laffer curve theory, 240, 270 and Khrushchev, 26 Kyoto Protocol (1997), 101 Lafitte, Jean, 261 sends military advisers to Vietnam, LaFollette, Robert, 224, 363 299 La Porta, Rafael, 466 Lahontan Dam, 203 U.S. space program, 95 Labor, 422–427 Laissez-faire economics, 121, 170–171, Kennedy, Joseph P., 246 1815 to Civil War, 423 361, 363 Kennedy, Paul, 304 1865 to 1900, 424–425 Alan Greenspan as proponent, 138 Kennedy, Robert F., assassination, 46 alienated by Grover Cleveland, 49 during Coolidge’s tenure, 345 Kennedy Round (1964–1967), 165 of children. See Child labor and scientific research, 454 Kentucky resolutions of Thomas in colonial America, 422 See also Free market economic system Jefferson (1798, 1799), 264 creates wealth, 129 Land acquisitions, 429 (table) Keynes, John Maynard (1883–1946), 77, defined, 422 Land Act (1804), 241 165–166, 234, 364, 392 disputes, 136, 167 Land banks, federal, 4 argues for mercantilism, 184 diversified, 427 Land Distribution Bill (1841), 429 and Bretton Woods Agreement independence to1815, 423 Land grants (1945), 32 and industrial revolution, 15 authorized to railroads, 278 influence on Franklin D. Roosevelt, involuntary, 274 for colleges, 260, 344, 453 246 as leased convicts, 64 encourage economic growth, 121 Keynesian economics, 166 from postwar years to present, 427 establish agriculture and mechanical advocated by Franklin D. Roosevelt, regulations, 165, 390 arts programs, 367 247 relations with business mediated, 201 federal government has discretionary breakdown of consensus, 290 right to bargain collectively, 170 power over, 368 debate with monetarists, 135 shortages, 293, 294 to fund public education, 367 disillusionment with, 270 tracked by census, 42 given during War of Independence, government responsible for economic women in work force, 426–427 498 health, 392 in World War II, 426–427 to railroad companies, 237 of managing aggregate demand to in years between world wars, 426 Land laws, 434 maintain full employment, 124 Labor contract law, 169–170 See also Land Ordinance (1785) revolution, 77 Labor Department, U.S., 45, 293–294, Land mines, 2 Keynesianism 370–371 Land Ordinance (1785), 216, 366–367, on full employment, 166 Labor theory of value, 91 428 global, 166 Labor unions, 153 Land policies, 428–432 Keyserling, Leon H. (1908–1987), activities considered criminal, 169 1891 to present, 430–432 166–167 AFL-CIO, 10 acquisition (1803–1860), 429 Council of Economic Advisers, 67, 68 boosted by Civil War, 425 Civil War through 1900, 429 Khan, Alfred, 80 in company towns, 57 in early republic, 428–429 Khrushchev, Nikita, and John F. Kennedy, and Eugene Debs, 75 federal economic policy, 388 26 growth of, 15 legislation, 430 (table) Kickback contributions outlawed, 225 Industrial Workers of the World, 152 Land surveys, 429 Kilgore, Harley, 455 Knights of Labor, 167–168 Land-Grant College Act (1862), 367 Kindleberger, Charles, 135 legal status, 55 Landlord disinvestments, 493 King, Martin Luther, Jr., 46, 188 oppose NAFTA, 206 Landrum-Griffin Act (Labor- King Coal (Lewis), 256 oppose World Trade Organization, Management Reporting and King Philip’s War (1675–1676), 477 123 Disclosing Act) (1959), 169, 199 King survey (1867–1872), 429 political radicalism lessens, 201 Land-use (urban) strategies, 495 Kitch, Edmund, 337 in Progressive era, 425 Langdell, Christopher Columbus, 437 Knight, Frank H., Chicago School,, 364 prosecuted under Sherman Anti-Trust Lange, Dorothea, 107 Knights of Labor, 167–168, 425 Act, 255, 333 Lanham Act. See Trademark Act (1947) farmers aligned with, 230 use of spies outlawed, 227 Lanham Act (1996), 409 Know-Nothing Party See also Strikes; Unions Lansky, Mayer, 445 forms Republican Party, 242 Labor-management Lasker, Albert D., 320, 321 opposed to immigration, 149, 395 conflicts diffused by U.S. Labor Latin America Knox, Henry, 451 Department, 293 expanded U.S. commerce, 49

Index 691

Good Neighbor Policy, 133 on patronage system, 225 Lusitania, sunk by German U-boats, 184, as informal foreign trade empire, 480, Republican presidential candidate, 312 501 243 Luxemburg, 206 JFK’s policy on, 9 and slavery, 463 Luxury items taxed, 189 and Organization of American States, Liquidation (Chapter 7 bankruptcy), 436 216 Liquidity, monetary, supplied by IMF, 32 MacArthur, Douglas, 30 Latvia, 206 Liquidity crisis, 109 Machinery and industrialization, 153 Laughlin, J. Laurence, 52, 379 List, Frederick, 362 MacManus, Theodore F., 321 Laundering of Monetary Instruments Act Literacy Macon, Nathaniel, 175 (1956), 446 in colonies, 366 Macon’s Bill No. 2 (1810), 175 Law, 433–438 tests, found constitutional, 308 Macroeconomic policymaking, antitrust, 436–437 Lithuania, 206 quantitative base for, 197–198 bankruptcy, 435–436 Little Steel formula, 201 Macroeconomics, 175–176 education, 437 Little Turtle, Miami chief, 280 contrasted with microeconomics, 185 legal terms and applications, 434–435 Litwin, Günter, 26 fluctuations due to unemployment, Law schools, U.S., 437 Livestock markets, impacted by foot and 286 Lawrence, Massachusetts, 153 mouth disease, 115 Mad Cow Disease, 176 Lazear, Jesse W., 84 A Living Wage: Its Ethical and Economic Madison, James, 12 LDC. See Less-developed countries Aspects (Ryan), 187 coauthors Federalist Papers, 113 Leach, Jim, 130 Livingston, Robert, 129, 173–174 and Confederation, 16 League of Nations (Wilson), 118, 309, Lloyd, Henry Demarest, 245 forms Democratic Party, 78 312, 501 Loans intellectual property rights debate, Lee, Henry (1782–1867), 171, 308 for economic emergencies, 7 410 Lee, Russell, 107 to farmers, 105, 106 and national bank, 23 Legal cartel theory, and deregulation, 80 required to disclose origination fees, and Nicholas Biddle, 27 Legal services, 92 282 opposes Hamilton’s debt repayment Legal Tender Act (1933), 132 for rural housing, 4, 108, 248 plan, 242 Lend-Lease Act (1941), 171–172, 247, USDA Farm Service Agency, 5 protective tariff proponent, 479 313, 329, 501 Lobbying, 173, 291 Magazine advertising, 319, 320 Lenin, V. I., 55 as form of patronage, 224 Main Line system, 487 Leon, Daniel de, 152 Lochner v. New York (1905), 417 Maine (USS) battleship, explodes in Leon, George, 495 Loggers, join IWW,, 153 Havana harbor, 181, 265, 269 Lerner, Abba, 77 Lôme, Enrique Dupuy de, 265 Malthus, Thomas, 361 Less-developed countries (LDCs), 229 London, Jack, 256 The Man in the Gray Flannel Suit See also Developing countries London Naval Conference (1930), 82 (Wilson), 322 Letters of a Pennsylvania Farmer (Otis), Long, Huey P. (1893–1935), 173 The Man Nobody Knows (Barton), 321 266 Share Our Wealth plan, 254, 262 Manchuria, China, 86, 162 Letters of marque, used by smugglers, Long, Russell, 59 Manhattan Project, 455 261 Long Island, New York, 172 Manifest destiny, 176–177, 385 Levellers and Diggers as early socialists, Long Term Capital Management money Mann, Horace, 94, 95 263 laundering, 448 Mann-Elkins Act (1910), 157, 350 Lever, Asbury F., 260 Long-distance telephone service, 350–351 Manufacturing Levi Strauss, 132, 320 Lopez-de-Silanes, Florencio, 466 congressional aid to, 241 Levitt, Abraham, 172 Lord and Thomas advertising agency, 320 develops simultaneously with western Levitt, Alfred, 172 Lottery tickets, legal case, 51 expansion, 242 Levitt, William, 172 Louisiana effects on economy, 153, 424 Levittown, 172 and Huey Long, 173 increases behind British blockade, 423 Lewis, Meriwether, 128 represented on Senate Finance monopolistic practices, 288 Liability insurance, 407 Committee, 59 and U.S. nonimportation, 205 Libya, 217 Share Our Wealth clubs, 254 and U.S. position as world power, 152 and Export Administration Act Louisiana Purchase (1803), 117, Mao Zedong, 45 (1999), 103 173–174, 429 Marbury v. Madison (1803), 177 as rogue state, 83 Document, 549–553 Marconi, Guglielmo, 350 and weapons of mass destruction, 273 slavery issue settled by Missouri Marielitos, 398 Life insurance, 403, 404, 405–406, 407 Compromise, 48 Marine insurance, 402, 403, 404 industrial, 405 supported by Gallatin, 128 Marine Mammal Protection Act (1972), Lilioukaliani, queen of Hawaii, 142, 269 Lowell, Francis, 152 376 De Lima v. Bidwell (1901), 155 Lowell, Massachusetts, 152 Marines, U.S., 204 Lincoln, Abraham, 324 Lucas, Robert, 125 Market economy debates with Stephen Douglas, 258 Luce,Stephanie, 187 and child labor, 44 Emancipation Proclamation, 97, 273, Lumber, on public lands, 274 and common schools, 367 567–568(document) Lunar landing of Apollo 11, 456 Market efficiencies, 121 opposes confiscation acts, 59 Lundeen Bill, 508 Market interest rates, 25

692 Index

Market manipulation, 470 McCulloch, James, 179 Merchant capitalism, 79 Market prices McCulloch v. Maryland (1819), 23, 179, Merchants of death, 184–185 determined by supply and demand, 416 Merleau-Ponty, Maurice, 178 166 McFarlane, Robert, 158 Merriam, Frank, 256 government controls, 231 McGhee v. Sipes (1948), 254 Merrill Lynch, 471 and parity prices, 4 McGovern, George, 79 METO. See Middle East Treaty Market regulation, 329 MCI, 351 Organization Market revolution, 238 McKinley, William, 180, 247 Meteorological data gathering (NOAA), Marketing of brand images, 3. See also assassination, 247 199 Advertising Currency Act (1900), 71 The Metropolis (Sinclair), 256 Markets restructured for developing and Dingley Tariff, 82 Mexican immigrants, 395, 397 countries, 287 and Panama Canal, 33 Mexican-American War (1845–1848), 48, Marlboro Man advertising campaign, seizure of Philippines, 13 127, 280 322 sends USS Maine to Havana, 264 Mexico Marriage penalty tax, 36 supports gold standard, 133 cedes possessions to U.S., 280 Married Women’s Acts, 404 McKinley Tariff Act (1890), 180, 480–481 free trade zone with U.S. and Canada, Marshall, Alfred, 335 revised, 49 206 Marshall, George G., 90 McLean, Louis, 161 and Gadsden Purchase (1854), 127 Marshall, James, 132 McNary, Charles, 328 -Germany plot to attack U.S., 185 Marshall, John (1755–1835), 43, 51, 113, McNary-Haugen Bill (1924, 1928), 180, and NAFTA, 36, 119 177 223 U.S. auto manufacturing in, 17 chief justice (1801–1835), 416 McNary-Haugen legislation (1927), 5–6, Meyer, John, 464 defines commerce, 434 142 MIC. See Military-industrial complex interstate commerce case, 129 McReynolds, James Clark, 419 Microchips, 57–58 Marshall Plan (1948), 52, 56, 64, 90, 177, Means, Gardiner C., 470 Microeconomics, 175, 185 386 Meat Inspection Act (1906), 164, 256, Microsoft Corporation, 185–186 influences relations between U.S. and 390 and antitrust enforcement, 14–15 Soviet Union, 177 Meatpacking industry, 163, 164 influence on economy, 186 and NATO, 206 Media, 180–181 licenses ideas through software, 414 and Truman Doctrine, 281 Medicaid (1965), 181–182, 407 monopolistic practices, 282 and U.S. globalization plan, 130 coverage described, 181 Office 95, 185 Marshall Supreme Court (1801–1835), health benefits for low-income and software boom, 58 416 families, 100 source code protection, 15 Martinsburg, West Virginia, 136 as poverty program, 230 Microsystems Technology Office (MTO), Marx, Karl, 178 Medical research, government funded, 186 proposes communism as economic 183 Micro-Wave Inc. See MCI system, 362 Medicare, 182, 407 Microwave technology for and socialist sdoctrine, 263 administered by U.S. Health and telecommunications, 351, 352 war as inevitable result of capitalism, Human Services Department, 292 Middle East road map (G. W. Bush), 215 304 as entitlement program, 100 Middle East Treaty Organization Marxism, 178 Medicine, 182–183 (METO), 42 class defined, 47 patent, 320 Middle East-U.S. economic policies, 118, orthodox, 48 Medium of exchange, function of money, 502 Mary,queen of England, 53 439 Migrant farm laborers, 107, 153 Mass production, 17, 173 Meese, Edwin, 158 photograph of “Migrant Mother,” 107 and profit incentive, 79–80 Meiji Restoration (Japan) (1868), 162 Migrations Massachusetts Institute of Technology, 9 Mellon, Andrew William (1855–1937), of California gold rush, 132 Mathematics education, 371 183 to U.S., 149 Matthews, George, 315 Menard, Russel, 459 westward, 429–430 Mature economy thesis, 67 Mental hospitals social reform, 506 Miles, Nelson A., 13 Mauchly, John, 57 Mental illness, 183–184, 184, 506 Military Mayer, Maria, 397 Mercantile closed system, 10–11 aviation sales, 18 Mayors, in local government, 66, 67 Mercantilism, 117, 184 budget, 35 Maysville Road Bill (1830), 178 British policies, 53, 497 colonial supplies from abroad, 63 MBDA. See Minority Business challenged by laissez-faire economics, coordinated by U.S. Defense Development Agency 171 Department, 292 McAdoo, William G. (1863–1941), 179 and colonial America, 238, 477 draft, 274 McCabe, Thomas, 383 compared to capitalism, 361–362 equipment production capabilities, 76 McCall, Samuel W., 13 described, 39 high-tech equipment, 186 McCarran-Ferguson Act, 406 doctrine, 91 occupation of Japan post–World War McCarran-Walter Act (1952), 397 leading to war, 304 II, 162 McClellan, George, 54 and Navigation Acts, 202 preference for big business McCulloch, Hugh, 194 Merchandise balance of trade, 21 production, 306

Index 693

procurement, 212 Molly Maguires, 149, 227 Microsoft Corporation, 186, 337–338 spending, 119, 239 Monetarism policy, 239 natural. See Natural monopoly systems, 2 experimentation (1979–1982), 266 Northern Securities Company, 207 technology, 76 as method to control inflation, 303, railroads, 144 technology transfer concerns, 272 383 regulated by Sherman Anti-Trust Act, See also Military-Industrial Complex; removes U.S. from gold standard, 261 15, 255 Reconstruction Finance Monetarists Standard Oil Company, 34, 213, 267 Corporation debate with Keynesians, 135 trustbusting of Theodore Roosevelt, Military Critical Technologies List, 273 influence economic policies, 286 247 Military-industrial complex (MIC), 186, Monetary policy, 188, 439–444 Monroe, James, 174 187 in colonial America, 439–440 Monroe Doctrine (1823), 117, 118, 385 Militia Act (1792), 308 countercyclical, 286 Montesquieu, Barib de, Charles de Militias, 197 described, 439 Secondat, 44 mobilized by Continental Congress, 62 of Federal Reserve system, 441–442, Montgomery, Alabama, 46 See also National Guard 442–443 Montgomery Bus Boycott (1955–1956), Mill, John Stuart, 91, 361 First and Second Banks of the United 46, 188–189 Mills, C. Wright, 48 States, 440–441 Montreal, Quebec, Canada, attack Mine Safety and Health Administration, following Civil War, 243–244 against, 39 294 reduces unemployment below natural Moody, William Vaughn, 13 Minefields, technology against, 2 rate, 125 Moralism, foreign policy, 385 Mineral Leasing Act (1920), 8 Treasury Department responsible for Morgan, John Pierpoint (J. P.) Miners, join IWW, 153 management, 441 (1837–1913), 49, 189 Minimum income guaranteed, 105 Monetary system as captain of industry, 40 Minimum wage, 187, 508 and Bretton Woods Agreement and Clayton Anti-Trust Act, 49 and child labor, 45 (1945), 32 operating without threat of foreign increases, 36 reforms, 68, 379–380 competition, 37 Mining Monetary Transactions in Property and panic of 1907, 222 develops stock market, 468 Derived from Specified Unlawful political power, 152 speculative purchases of, 468 Activity act (1957), 446 purchases bonds with greenbacks, 132 stock exchanges, 468 Money, functions of, 439 Morgan, Margaret, 232 Minority Business Development Agency Money laundering, 445–450 Morgenthau, Henry, Jr., 131, 262 (MBDA), 291 BCCI scandal, 447 Morrill, Justin Smith, 189, 344 Minority groups criminal networks, 447–448, 448 Morrill Land Grant Act (1862), 4, 95, affirmative action for, 3 criminalized in U.S., 445 429, 453 tracked by census, 42 cycle, 445 Morrill Tariff Act (1861), 189, 233, 327, Mint, U.S., 120, 295, 297, 354 defined, 445 367 holds U.S. government gold supplies, illicit funds in U.S., 445–446 Morris, Robert, 339 119 international cooperation to combat, Morse, Samuel, 348 Missile Defense Agency, 269 447 Mortgage banks, 340 Missile defense programs, space-based, and narcotics-trafficking, 446–447 Mortgages 268 Money Laundering Abatement and Anti- agricultural, 106 Missile technology, 56 Terrorist Financing Act (2001), purchased by Farmer Mac, 106 Mississippi, 274 447, 449 for rural housing, 109 Mississippi River Money Laundering and Financial Crimes Mosquito-borne diseases, 83, 84, 183 free navigation of, 227 Strategy Act (1998), 448 Most-favored nation status, 45, 122 -Ohio system transportation policy, Money Laundering Control Act (1986), Mother Jones (Mary Harris), 152 486 445, 446 Motor Carrier Act (1935), 157 Missouri Compromise (1820), 48, 253 Money Laundering Suppression Act Motor Carrier Act (1980), 157 The Missouri Question (Raymond), 238 (1994), 447 Moynihan, Patrick, 289, 495 Mitchell, Wesley C., 363 Money supply MSA. See See Mutual Security Agency Mixed economy, 187–188, 263 as economic indicator, 90 MTO. See Microsystems Technology comprised of government and private Fed promotes elasticity, 381 Office sector, 387 The Moneychangers (Sinclair), 256 Muckrakers, 256 Mixed private corporation, 351 Mongolia, 162 Muller V. Oregon (1908), 418 Model T Ford, 17, 116, 375, 489 Monopolies, 288, 351 Multinational corporations, 189–190 The Modern World-System III compared to free trade, 39 Multiplier effect, 77 (Wallerstein), 153 curtailed by Federal Trade Municipal reform movements, 54 Mohl, Ramond, 493 Commission Act, 112 Munn, Orson Desaix, 412–413 Molasses dissolved, 213, 243 Munn v. Illinois (1877), 190, 389, 417 converted to rum, used to purchase effects on foreign competition, 233 Munsey, Frank, 320 slaves, 270, 478 failed, 195 Muscle Shoals, Tennessee, 190, 190–191, smuggled, 261 government prohibition of, 37 273. See also Tennessee Valley Molasses Act (1733), 184 meaning of term, 333 Authority

694 Index

Museums, NEH grants to, 196 National Association for the National Labor Union, 425 Music, 1 Advancement of Colored People National League of Cities v. Usery (1976), added to copyright law, 411 (NAACP), 46 420 Muskogee Indians, and Horseshoe Bend National Association of Attorneys National marketing quota Battle, 145 General, 14 (1938–present), 199 Muss v. Illinois (1877), 237 National Association of Securities National missile defenses (NMD), 268 Mutual Defense Assistance Act (1949), Dealers (NASD), 193 National Monetary Commission, 9, 111, 56 National Bank Act (1863), 25, 194, 341, 380 Mutual Defense Assistance Act (1951), 356 National Oceanic and Atmospheric 64 National Bankruptcy Act, 252 Administration (NOAA), 60, Mutual funds, money market, 25 National Bureau for Economic Research 199–200, 291 Mutual insurance companies, 402, 404 (NBER), 90 National Park Service, 47, 60 Mutual legal assistance treaties for National Bureau of Standards, 454 National Recovery Act (1933), 211 control of money laundering, National Conservation Program (1982), National Recovery Administration 446–447 263 (NRA), 200, 290, 328 Mutual Security Agency (MSA), 90 National Cordage Company, 195 National Research Council (NRC), Mutual-aid societies, 506 National Credit Administration, 24 454–455 Mydans, Carl, 107 National Currency Act (1863), 194, 195 National Reserve Association, 380 Myer, Dillon, 151 National Defense Education Act (NDEA) National Road, 12 (1958), 195–196, 370 construction of, 127–128 NAACP. See National Association for the National Defense Research Committee funded by federal government, 277 Advancement of Colored People (NDRC), 455 National Science Foundation, 455, 456 Nader, Ralph (1934– ), 137, 193, 346 National Endowment for the Arts (NEA), National Security Act (1947), 292 opposed to NAFTA, 206 196 National Security Agency, 292 and regulation of advertising National Endowment for the Humanities National Security Council, 158 industry, 323 (NEH), 196 National Silver Party, 52 NAFTA. See North American Free Trade National Environmental Policy Act National Technical Information Service Agreement (1969), 8, 101, 295, 376, 430 (NTIS), 200–201 NAIRU. See Nonaccelerating inflation National Fair Labor Standards Act National Technical Institute for the Deaf rate of employment (1938), 211 Act (1965), 371 Napoleon. See Bonaparte, Napoleon National Flood Insurance Act (1968), National Telecommunications and Napoleonic Wars, 304, 498 407 Information Administration claims from, 27 National Forest System, 119 (NTIA), 201, 291 Continental System as economic National Foundation on the Arts and National War College, 292 warfare, 63 Humanities Act (1965), 371 National War Labor Board (NWLB) Embargo of 1807, 97 National Grange of the Patrons of (1918–1919, 1942–1945), 89, 201, and Non-Intercourse Act, 205 Husbandry (1867), 197 312 U.S. embargoes, 98 and Populist Party, 229 National Wilderness Preservation Act U.S. foreign relations, 117 See also Grange; Granger Laws (1964), 376, 430 See also Bonaparte, Napoleon National Guard, 197 Nationalism, economic, 12 Napster, civil case against, 1 National health care system, 183 Native Americans Narcotics-trafficking and money National Highway Traffic Safety Act allied with French, 123 laundering, 446–447 (1965), 346 attacks against, 19 Narragansett Indians National Housing Act (1934), 293 and Bacon’s rebellion, 20 and Boston Tea Party, 30 National Income and Product Accounts Bureau of Indian Affairs, 35 trading partners with colonists, 477 (NIPA), 197–198 in Civilian Conservation Corps, 47 NASA. See National Aeronautics and National Industrial Recovery Act (1933), and Dartmouth College, 74 Space Administration 15, 89, 198, 200, 202, 335, 391 firearms transported to, 485 NASD. See See National Association of struck down by Supreme Court, 251 fur trade with colonists, 477 Securities Dealers National Institute of Standards and health care, 293 Nasdaq, 193–194 Technology (NIST), 291 importance of bison, 27 Nasser, Abdul, 118, 214 National Institutes for Health, 456 land ceded after Creek War, 145 Nasser, Gamal Abdel, 42 National Labor Relations Act (1935), 57, land-grant institutions, 4 The Nation (periodical), 225 170, 294, 392 languages, 128 National Academy of Sciences, 453, 454 as New Deal measure, 203, 246 privatizing reservation land issue, National Academy of the Sciences Act See also Wagner Act (1935) 74–75, 150 (1863), 453 National Labor Relations Board (NLRB) sold into foreign slavery, 477 National Advertising Review Board, 323 (1935–present), 170, 198–199 Trail of Tears forced removal, 276 National Advisory Committee for as enforcement mechanism for Treaty of Greenville, 280 Aeronautics, 454 Wagner Act, 304 U.S. policies, 150 National Aeronautics and Space and unfair labor practices, 169 used as laborers, 394 Administration (NASA), 194, 454, National Labor Relations Board v. Jones & wars with British, 497 456 Laughlin (1937), 435 See also Bison; Indians

Index 695

NATO. See North Atlantic Treaty New Hampshire, 74 NNP. See Net national product Organization New Keynesian economics, 286 NOAA. See National Oceanic and NATO army, 207 New Mexico, 280 Atmospheric Administration Natural gas New Orleans Battle (War of 1812), 305 Nobel Prizes, 309, 364, 466 as energy source, 99, 100 New York City Police Commission, 65 winners are immigrants to U.S., 397 industry deregulated, 81 New York Clearinghouse, 341 No-fault liability principle for workers’ reserves, 100 New York Curb Agency, 11 compensation, 310 Natural monopoly, 255 New York Evening Post (periodical), 244 Nominal interest rates, 439 communications industry, 347–348 New York Herald (periodical), 319 Nonaccelerating inflation rate of of infrastructure, 154 New York Stock Exchange (NYSE), 203 employment (NAIRU), 33 railroads, 157, 389 attempts self-reform, 471 Nonimportation, 11, 205 telegraph industry, 348 corporate financial information, 470 colonial agreements (1765–1776), 205 Natural-rate theories of unemployment, created, 467 as economic coercion, 204, 205 125 and panic of 1873, 221 Non-Importation Act (1806), 97, 204 Navigation Acts (1651, 1660, 1672), 10, refuses to trade in gold, 468 Non-Intercourse Act (1809), 97, 205, 479 53, 184, 202, 238, 477, 485 New York Weekly Journal (periodical), 319 Nonintervention doctrine, 133 NBC capabilities. See Nuclear, biological, Newcomb, Simon, 362 of economic liberalism, 91 and chemical capabilities Newlands Reclamation Act (1902), in Western Hemisphere, 133 NBER. National Bureau of Economics 203–204 Non-Proliferation Treaty (1968), 82 Research Newlands Act (1902), 41 Noriega, Manuel, 220 NDEA. See National Defense Education Newlands Reclamation Act (1905), 81, 430 Norris, Frank, 256 Act (1958) Newspaper(s), 180 Norris, George, 190 NDRC. See National Defense Research address social and economic Norris, William, 273 Committee problems, 181 Norris-LaGuardia Act (1932), 169, 333 NEA. See National Endowment for the and advertising, 319 North, Oliver, 158 Arts war between Pulitzer and Randolph, North American Free Trade Agreement Necker, Jacques, 241 180 (NAFTA), 36, 123, 206, 483 NEH. See National Endowment for the Nicaragua, 133, 204 and Congress, 60 Humanities Contras funded through Iran-Contra created to offset E.U., 119 Nelson, Donald, 306 diversion, 158 economic considerations, 207 Net national product (NNP), 138 dollar diplomacy by U.S., 85 opposition to, 137, 206 Netherlands Nicholson, Joseph, 204 supported by Republican Party, 243 member of CoCom, 64 Nigeria, 217 U.S. subsidizes, 206 member of NATO, 206 Nineteenth Amendment, 310 North Atlantic Treaty Organization Network effects of communications NIPA. See National Income and Product (NATO), 43, 52, 56, 206–207 industry, 347, 349 Accounts members listed, 206 Neutrality Acts (1935, 1936), 185, 313, NIRA. See National Industrial Recovery North Korea 481, 501 Act (1933) and Export Administration Act altered to supply arms to Britain NIST. See National Institute of Standards (1999), 103 (WWII), 172, 247 and Technology as rogue state, 83 and isolationism, 159 Nixon, Richard M. (1913–1994), 79 and weapons of mass destruction, 273 Neutrality attempted by U.S., 205, 313 antitrust enforcement, 14 Northern Pacific Railroad, Nevins, Allan, 245 Checkers speech, 43 transcontinental, 277 New classical economics, 125, 286, 307 creates NOAA, 199 Northern Securities Company, 207–208 New Deal, 202–203 economic policies during Vietnam dissolves under Sherman Anti-Trust agriculture crisis response, 6 conflict, 299 Act, 282 economic legislation, policies, Economic Stabilization Act, 92 Northern Securities v. United States programs, 25, 391 ends gold standard, 132 (1904), 418 enactments declared unconstitutional, Family Assistance Plan, 7, 105 Northwest Ordinance (1787), 208, 419 floats dollar, 32, 114 366–367, 513–516(document) funding of public construction Occupational Safety and Health Act Norway, 64, 206 projects, 234 (1970), 211 violates CoCom’s policy, 64 Keynesian, 166 oil price increases, 214 Notes, 30 legislation for workplace standards, removes U.S. from gold standard, 260 tax on, 25 211 and social welfare, 509 Nourse, Edwin G., 67 National Recovery Administration and Trans-Alaska Pipeline, 8 NRA. See National Recovery created, 200 wage-price freeze to control Administration reforms banking system, 342 stagflation, 265, 303 NRC. See National Research Council reforms Federal Reserve system, NLRB. See National Labor Relations NSC. See National Security Council 381–382 Board NTIA. See National Telecommunications Tennessee Valley Authority, 191 NLRB v. Jones & Laughlin Steel Corp. and Information Administration New federalism, 289 (1937), 419 NTIS. See National Technical New Freedom program (Wilson), 165, 309 NMD. See National missile defenses Information Service

696 Index

Nuclear production, 215, 217, 374 Outer Continental Shelf Lands Act energy, 99 resources, 374 (1953), 376 power, 377 restrained competition among Overpopulation, 229 production proliferation, 137 companies, 214 and poor relief, 505 Nuclear, biological, and chemical (NBC) role in Gulf War, 502 Owen, Robert, 263 capabilities, 83 spill, 376 Owen-Glass Act. See Federal Reserve Act Nuclear Regulatory Commission, 378 and Strategic Petroleum Reserve, 16 (1913) Nullification crisis (1832–1833), 161, and World War II, 162, 163, 213, 214, OWM. See Office of War Mobilization 208–209, 264, 307 313, 482 principle developed, 271 Oil depletion allowance, 59 Pacific Gas and Electric Company, 378 NWLB. See National War Labor Board Oil embargoes, 214–215 Pacific Railway Acts (1862, 1864), 69, (1918–1919, 1942–1945) of 1956, 1967, 214 278, 488 Nyon Conference (1936) condemning of 1973, 215, 217 Packard, Vance, 322 piracy, 228 against Japan (1940–1941), 162, 163, Packet switching, for scientists and NYSE. See New York Stock Exchange 313, 482 researchers, 76 Old-age insurance, 508 PACs. See Political action committees Oakley, Thomas J., 434 Olds, Ransom, 17 Paine, Thomas, 62 OAS. See Organization of American Olds Motor Works, 17 Pakistan, 42 States OMB. See Office of Management and Palmer, A. Mitchell, 179 Occupational Safety and Health Act Budget Palmer, Benjamin Morgan, 259 (Williams-Steiger Act) (1970), 211, Omnibus Budget Reconciliation Act Palmer, Volney, 319–320 392 (1981), 29 Pamunkey Indians, attacked by Nathanial Occupational Safety and Health Omnibus Budget Reconciliation Act Bacon, 19, 20 Administration (OSHA), 294 (1982), 223 Pan American Union, 219 inspections by, 211 Omnibus Budget Reconciliation Act Panama, 133 Oceanography data gathering, by NOAA, (1990), 114, 134 becomes protectorate of U.S., 220 199 Online banking, 343 invasion by U.S., 220 Odell, Moses, 54 OPA. See Office of Price Administration Panama Canal, 219–220 OEEC. See Organization for European OPEC. See Organization of Petroleum construction of, 33 Economic Cooperation Exporting Countries Theodore Roosevelt initiates, 247 Office of Management and Budget Open Door (notes) policy to China, 45, and U.S. commerce, 118 (OMB), 21 86, 118, 122, 215, 215, 480, 500 Panama Canal Treaty of 1903 Office of Price Administration (OPA), OPM. See Office of Production (document), 574–578 98, 212 Management Panama Canal Treaty of 1977 Office of Production Management Orders in Council (1807) (Britain), 63, (document), 617–631 (OPM), 212–213 205, 215–216 Panhard and Levassor, 17 Office of Scientific Research and Defense, Ordinance of 1785. See Land Ordinance Panics, bank, 195, 349, 428, 497 455 (1785) of 1819, 22, 23, 179, 220–221, 428 Office of Technology Assessment, 457 Ordinance of the Northwest Territory of 1837, 22, 84, 161, 221 Office of Thrift Supervision, U.S. (document), 513–516 of 1857, 195 Treasury Department, 295 Ordinance of Nullification. See of 1873, 9, 197, 203 Office of War Mobilization (OWM), 213 Nullification crisis of 1893, 9, 79, 132, 222, 425. See also Offshore financial centers for money Oregon Territory (1846), 429 Depression of 1893 laundering, 448 Organic Act (1897), 119, 155 of 1895, 203 Offshore oil drilling, 375–376 Organization for European Economic of 1907, 9, 222, 349, 357 Ogden, Aaron, 434 Cooperation (OEEC), 90, 177 years listed, 155 Ogden v. Saunders (1827), 416 Organization of American States (OAS), See also Depressions; Great Ohio Oil Company, 245 9, 216–217 Depression Ohlin, Lloyd, 56 Organization of Petroleum Exporting Paper currency, 70–71, 112, 195, 197, Oil, 213–214 Countries (OPEC), 99, 217, 330, 220, 230, 297 Alaskan, 8, 279 375 in early U.S., 354 and commercial banks, 25 embargoes, 10, 16 eliminating, 244, 256 dependency on foreign sources members listed, 217 value of, 354 reduced, 36 Organized crime, and money laundering, Par Value Modification Act (1972), 260 embargoes. See Oil embargoes 446, 447 Par value system, 114, 260 as energy source, 99, 100, 213 OSHA. See Occupational Safety and demise of, 261 exploration curtailed, 376 Health Act (1970) Paris Peace Treaty (1899), 13 foreign policy in Middle East, 118 O’Sullivan, John L., 176–177 Parity, 223 as import, 375–376 The Other America (Harrington), 509 farm payments, 4 and John D. Rockefeller, 40 Other People’s Money (Brandeis), 470 and market prices, 4 offshore drilling, 375–376 Otis, James, 266, 270 Park, Robert E., 492 OPEC embargo, 16 Our Land and Land Policy, National and Parks, Rosa, 46, 188 prices, 16, 214 State (George), 129 Parliamentary socialism, 48

Index 697

Partnerships, private and public, 29 Personal income and saving, as economic Polk, James K., 121 Patent Act (1952), 411 indicators, 90 precipitates California gold rush, 132 Patent and Trademark Office, U.S., 10, Personal liberty law (1826), 232 Poll tax, 228, 308 276, 291, 326, 411 Personal property insurance, 403, 404, Pollin, Robert, 187 Patent Law (1790, 1793, 1836), 411, 405–406, 407 Pollock v. Farmer’s Bank & Trust (1895), 451–452 Personal Responsibility Act (1996), 51, 228–229, 256 Patents, 10, 350 226 Pollution control, 101, 193, 199 applications, 412–413 Personal Responsibility and Work Pony Express, 348 safeguarded by World Intellectual Opportunity Reconciliation Act Poor laws, 504–505 Property Organization, 311 (1996), 7, 8, 85, 231 Poor relief for science and technology, 451–452 Personal savings, 226 in Britain, 504 Paterson, New Jersey, 153 Pesticides, use of, 295 early welfare program, 505 Pathfinder Dam (1909), 73 Peterson, Esther, 102 Popular Mechanics magazine and Bill Patriot Act (2001), 449 Petit jury, 434 Gates, 414 Patronage, 223–224 Philadelphia, Pennsylvania, 136 Population, 229 as primary corruption issue, 65 Philadelphia Gazette, 319 economic consequences of expansion, Patterson, James W., 69 Philadelphia Mint, 120 361 Paul v. Virginia (1868), 404 Philadelphia Stock Exchange (1790), 467 expanding slave population in U.S., Pax Americana, 135 Philanthropic, voluntary organizations to 460–461 Pax Britannica, 135 assist the poor, 505, 506 nativity (1850–1990), 400 (table) Payment-in-kind Philippines, 13, 226–227 theories arguing against poor relief, certificates for farm disasters, 107 ceded to U.S., 264, 265 505 wheat, 7 granted independence by U.S., 227 Populism, 41 Payne, Sereno, 224 U.S. acquires as colony, 45, 118, 500 campaign (1896), 79 Payne-Aldrich Tariff Act (1909), 146, Phillips, Ulrich B., 424, 458 and Coxey’s army, 68 224, 248 Phillips curve between inflation and Populist Party, 229–230 PC. See Personal computer unemployment, 154 agitation for bimetalism, 286 Pearl Harbor, Hawaii Phonograph, invented by Edison, 93 demands national income tax, attack, 98, 118, 162 Photography of Great Depression, 107 228–229 U.S. naval base, 142, 269 Physicians, licensing required, 183 silver issue, 256, 380 Pearson, Frank, 131 Physiocratic School, 47, 91, 361 Pork-barrel legislation, as form of Pechman, Joseph, 473 Pierce, Charles Sanders, 454 patronage, 224 Peckham, Rufus, 417, 418 Pierce, Franklin, 127 Porter, Rufus, 412 Peculiar institution (slavery), 458, Pillsbury Doughboy advertising Portugal, 64 462–463 campaign, 322 Posner, Richard, 337 Peek, George, 328 Pinchot, Gifford, 430 Postal service, 348 Pegs, fixing value of currency to dollars, Pinckney, Charles, 410 as natural monopoly, 348 358, 359 Pinckney Treaty (Treaty of San Lorenzo) Postindustrialism, 495 Pell Grant, 224–225 (1795), 227 Potential competition doctrine (1974), Pendleton, George H., 225 Pinkerton, Alan, 227 337 Pendleton Act (1883), 225 Pinkerton Detective Agency, 15, 227–228 Poverty, 230-231 Pendleton Civil Service Act (1883), 65, Pirates, 261 absolute and relative definitions of, 224 Pitt, William, 123, 478 230 Penicillin discovery, 183 Pittsburgh, Pennsylvania, 136 addressed by charities, 506 Penn, William, 348 Planned economy, 187 escaped by confiscating wealth, 173 Penn Central Railroad, collapse (1970), Plantation economics of cotton and Great Society programs, 136, 226, 230 157 slavery, 66 impacts children, 371 Pennsylvania Platt Amendment, 70, 500 inner-city, 146 coal and oil fields, 99 Plessy v. Ferguson (1896), 46, 94 line defined, 62 Whiskey Rebellion, 127, 308 Plumer, William, 74 in midst of affluence, 3 Pennsylvania Railroad, 41 Pocahontas, marries John Rolfe, 245 of Native Americans under Dawes Pensions, 262 Poindexter, John, 158 Severalty Act, 75 bankruptcies, 508 Point Four Program, and Third World of rural areas, 248 limited by Grover Cleveland, 49 industrialization, 153 and TVA, 273 Perestroika, 27 Poland Powderly, Terrance, 167 Perkins, Frances, 262, 294 breaks out of Iron Curtain, 27 Powell, John Wesley, 41 Perkins, George, 9 Germany invades, 313 Powell, Lewis F., Jr., 20, 420 Perot, Ross, 206 member of NATO, 206 Power producers, independent, 95 Perry, Oliver Hazard, 305 Polio, 84 Powhatan Confederation, impacted by Persian Gulf War, 98 Political action committees (PACs), 173 European immigration, 20 Personal computer (PC), 58, 144, 352 Political advertising, 324 PPI. See Producer Price Index and e-commerce, 96 Political economy theory, 238 Pratt Institute, 368 See also Computers Political ideologies, 56 Prescription drugs, 36

698 Index

Price controls, limit inflation during regulation of interstate common Public utilities, 95 World War II, 98 carriers, 157 Public Utilities Commission (PUC), 95 Price indexes, 61 workers’ compensation created, 310 Public Utilities Holding Company Act Price inflation, 153 Progressive movement (1935), 95, 252 Price supports, 231-232 child labor reform, 44 Public Utility Regulatory Policy Act agricultural, 107, 331 and economic determinism theory, 91 (PURPA), 95 for key commodities during World Upton Sinclair as propagandist, 256 Public Works Administration, 202 War II, 329 Prohibition (1919–1933), 232 Public works projects, 46–47 and prevailing world market prices, 6 corruption, 65 government-sponsored, 198 Price-cutting, as code violation, 198 and smuggling, 262 as palliative for unemployment, 234 Price-specie flow mechanism, 439 Prohibition of Unlicensed Money PUC. See Public Utilities Commission Price-wage spiral, 154 Transmitting Businesses Act Puerto Rico, 13, 118, 234 Prigg, Edward, 232 (1960), 446 ceded to U.S., 264, 265 Prigg v. Pennsylvania (1842), 232 Project Apollo, NASA (1968–1972), 194, citizenship granted by Organic Act, Prime interest rate, 155 456 155 Principles of Economics (Marshall), 335 Project Gemini, NASA (1965–1966), 194 temporary civil government, 86 Principles of Moral Economy (Ricardo), Project Mercury, NASA (1961–1963), 194 as unincorporated territory, 500 91 Promissory notes, used as money, 354 as U.S.commonwealth, 234 Principles of Political Economy (Mills), 47, Promotionalism era, 387 Puerto Rico v. Tapia (1918), 155 91 Propaganda, advertising used in Word Pulitzer, Joseph, 180, 265 Print media advertising, 322 War I, 321 Pullman Palace Car Company strike. See Printers’ Ink journal, 321 Property insurance. See Insurance, Pullman strike (1894) Printing technology of newspapers, 319 property; Personal property Pullman strike (1894), 15, 49, 75, Prisoners insurance 234–235, 255, 282 as cheap labor force, 64 Property taxes, 473, 475–476 Purchasing populations, 69 relief from, 476 government, 212 Private property Prosperity, 3, 68 power of farmers, 223 confiscation of, 59 Protectionism Pure Food and Drug Act (1906), 164, and free market, 121 compared to free trade, 362 235, 247, 256, 390, 507 redistributed to freedmen, 120 costs on society, 483 Puritans, 19 rights, 43, 254 of Japan, 162 PURPA. See Public Utility Regulatory Privatization for Louisiana products, 173 Policy Act attempts for National Technical in opposition to International Trade Pyramid holding company structures, Information Service, 200 Organization, 156 470 of items of physical infrastructure, as response to Great Depression, 154 142–143 Qatar, 217 of Social Security, 262 strengthened after Civil War, 480–481 Qing (Manchu) government of social welfare, 509 Protective tariffs, 12, 37, 48, 82, 117, 233 and Boxer Rebellion, 31 Pro forma operating profit, 96 of 1824, 12 unequal treaties with, 45 Proclamation of 1763 (Britain), 497 Protocol of 1900 (China-U.S.), 31 Quantity theory, 154, 363 prohibits colonists from settling on Prudhoe Bay, Alaska, oil field, 8, 279 Quartering Act (British) (1774), 158, 270 land, 498 Public Company Accounting Reform and Quay, Matthew, 180 Procurement, military, 212 Investor Protection Act (22), 36 Quebec Act, 124 Prodigy, as e-commerce, 96 Public debt securities, 467 Quesnay, François, 47 Producer price index (PPI), as economic Public domain Quota Act (Johnson Act) (1921), 397 indicator, 90 disposition (1781–2002), 431 (table) Quotas Production and rights to products of the mind, farm market, 4 codes of National Industrial Recovery 410 immigration, 397, 398 Act, 198, 200 Public education, government role in, racial, 2, 20 quotas, 290 366–373. See also Education; wartime, 212, 213 Higher education Racism, 13 Productivity, as economic indicator, 90 Public good against private property Radio Profit incentive, and mass production, rights, 43 advertising, 321, 322 79–80 Public interest theory, and deregulation, commercial, 350 Profits of Religion (Sinclair), 256 80 influence of, 181 Progress and Poverty (George), 128, 362 Public lands Radio Broadcasting to Cuba Act (1983), Progressive era available for lumber, 274 297 advertising advances, 320 free for tree planting, 274 Radio Corporation of America (RCA), community-based poverty programs, purchasing adjusted, 241 350 56 sale by federal government, 326, Radio Marti, 297 conservation policy emerges, 60 430–431 Raguet, Condy, 171 education, 94 Public Lands Commission, 430 Railroad Revitalization and Regulatory isolationism, 159 Public television, NEH grants to, 196 Reform Act (1976), 157

Index 699

Railroads, 28, 237–238, 268, 277 Rebatism, 36, 143 advocating protective tariffs, 82, 117, and agricultural expansion, 326 Recession, 240 189 bankruptcies, 436, 488 under George H. W. Bush, 36 antislavery sensibilities, 463 bonds, 9 under George W. Bush, 36 founded, 79 Crédit Mobilier scandal, 69 growth. See Growth recession massive tax cut, 50 deregulated, 81, 489–490 years listed, 240 Research, pure vs. targeted, 456 economic policy, 388–389, 487–489 Reciprocal Trade Agreements Act (1934), Research and development effective control over, 488–489 118, 146, 241, 247, 481 of corporations, 454 eliminate unfair competition, 144 as amendment to Hawley-Smoot funded by federal government, 455 federalized, 230, 259, 489 Tariff, 143 funding during World War II, 455 financed through investment bankers, strengthens U.S. economic influence for military, 455 469 in Latin America, 133 Reserve Officers Training Corps (ROTC), granted land subsidies, 344 tariff reduction, 122 4 as infrastructure, 154 Reciprocity, of tariff rates, 180 Resettlement Administration (1935), 107 and J. P. Morgan, 40 Reclamation Act (1902), 73 Resor, Helen, 321, 323 largest consumer of capital, 469 Reconstruction Restraint of trade, 255 for mail delivery, 348 post-Civil War, 34, 41, 64, 221 illegal under Sherman Anti-Trust Act, political influence of, 389 post-World War II, 56, 166, 177 282 regulations, 143, 157, 435 Reconstruction Finance Corporation Restrictionist movement (immigration), strike (1877), 136 (RFC), 76, 111 398, 399 transcontinental, 277, 487–488 by Herbert Hoover, 24 Resumption Act (1875), 243–244 Randolph, Edmund, 451 natural disaster relief, 110 Retirement social insurance, 508 Randolph, John, 315 Recovery legislation (New Deal), 391 Retrovir, 1 Rate-to-revenue curve, 473 Redlining, 493 Revenue Rational maximization paradigm, 185 Reed, Walter, 83–84, 183 budget, 33 Rationing, 314, 501 Reforestation, 47, 60 collected by U.S. Customs Service, 291 during World War II, 98 Reform legislation (New Deal), 391 sharing, 289 Raw materials, 238 Refugee Act (1980), 398, 399 tariffs, 244 colonies restricted to producing, 270 Refugees, 397–399, 400 Revisionism, 263 for military production industries, admission policy, 398 RFC. See Reconstruction Finance 314 broadening definition of, 398 Corporation Raymond, Daniel (1786–1849), 238, 362 during Napoleonic Wars, 395 Rhode Island, 63 RCA. See Radio Corporation of America Regan, Donald T., 59 Rhodesia, 98 REA. See Rural Electrification Regents of the University of California v. Ribicoff, Abraham, 346 Administration Bakke, 3 Ricardo, David, 9, 47, 122 Read et al. v. Central Union (1909), 349 Regulation of government over big labor theory of value, 91 Reagan, Ronald (1911– ), 84, 130, 239 business, 345–346 principle of comparative advantage, antitrust enforcement, 14 Regulation of Lobbying Act (1946), 173 21 and block grants, 29 Rehabilitation (Chapter 13 bankruptcy), self-adjustment doctrine, 234 deregulated financial institutions, 346 436 value of free trade, 361 and end of cold war, 53 Rehabilitation Act (1919), 369 Riegel-Neal Interstate Banking and Farm Bill (1985), 107 Rehnquist, William, 420 Efficiency Act (1994), 25 and George H. W. Bush, 35 Rehnquist Supreme Court (1986– ), 420 Riots, 46, 494 Iran-Contra (1986–1987), 158, 204 Reid v. Covert (1957), 87 Rivers, transportation policy, 486–487 overhaul of federal crop program, 7 Relief Act (1821), 241 Robber barons, 244–245 and Paul A. Volcker, 301 Relief programs (New Deal), 93, 391 The Robber Barons: The Great American remarks on air controllers’ strike Religious beliefs, 505 Capitalists (Josephson), 245 (document), 632–634 and moral implications of slavery, 463 Roberts, Owen, 419 seeks to bankrupt Soviet Union, 214, Remington Rand Company, 57 Robinson-Patman Act (1936), 333, 336 239 Renewable energy sources, 100 Robotics, and ATO programs, 2 and social welfare, 509 Reparations, 166 Rockefeller, John D., 332 spending control efforts, 134 for post-World War I monetary as captain of industry, 40 Strategic Defense Initiative, 268 stabilization, 74 and Clayton Anti-Trust Act, 49 supply-side economics, 270, 393 Report of Government for Western Lands operating without threat of foreign tax cuts, 33 (Jefferson), 208 competition, 37 tight monetarism policy, 383 Report on Public Credit (Hamilton) political power, 152 tightens Cuban blockade, 70 (1790), 242 as robber baron, 244, 245 See also Reaganomics Report on the Lands of the Arid Region of Standard Oil monopoly, 213, 267 Reaganomics, 35, 240 the United States, 41 Rockefeller, John D. (1839–1937), 245 Real estate, agricultural, 4, 108, 109 Report on the Subject of Manufactures Rockefeller Foundation, 245 debt of farmers, 106 (Hamilton) (1791), 37, 241–242,, Rockingham, Marquis of, 11, 266 Real interest rate, 439 423, 517–548(document) Roe, Mark J., 466 Reason-why advertising, 320, 321 Republican Party, 242–243 Roe v. Wade, 229

700 Index

Roger’s Rangers, 123 Rum, 478, 485 Schlink, Frederick J., 321 Rogue states, 83 Rural areas, 308 School Assistance in Disaster Areas Act, and deployment of missile defense advocate Hawley-Smoot Tariff 371 systems, 269 passage, 142 School busing, 46, 95, 252 economic controls over, 103 benefit from Cooperative Extension School Lunch Act (1946), 370 Rolfe, John (1585–1622), 245–246 Service, 260 School lunch programs, 100, 370 Romania, 206 education, 94, 369 federal support of, 372 Roosa, Robert, 114 electricity cooperatives, 249 USDA, 6 Roosevelt, Eleanor, 47, 310 role of Farm Credit System, 248 School vouchers, 37, 95, 372 Roosevelt, Franklin D. (FDR) school busing, 252 Schools (1882–1945), 246–247, 263 Rural Credit and Development Act consolidation, 252 Aid to Dependent Children, 7 (1994), 248–249 national standards, 95 Banking Act (1933), 24 Rural Electrification Administration segregation, 46, 252, 369, 370 declares noninterventionist Latin (REA), 6, 249, 329 Schram, Emil, 76 America policy, 133 Russell, Jonathan, 279 Schreiber, Jean-Jacques Servan, 190 and Emergency Price Control Act, 98 Russia Schumacher, E. F., 93 establishes Federal Relief Bolshevik Revolution, 312 Schumpeter, Joseph A., 40, 364 Administration, 110 member of NATO, 206 Schurz, Carl, 13, 244 fixes price of gold, 131–132 revives oil industry, 217 Science and technology, 451–457, 456 G.I. Bill of Rights, 253 sells Alaska to U.S., 279 education encouraged due to cold lend-lease plan, 172 See also Soviet Union war, 196, 370 New Deal, 202–203 Ryan, John A., 187 in eighteenth and nineteenth public housing programs, 296 centuries, 451–454 reforms Federal Reserve system, Sabin, Albert, 84 government sponsorship debate, 455 381–382 Sacajawea, dollar coin of, 297 students falling behind, 371 responds to agricultural crisis, 3, 4, 6, Saddam Hussein, 98, 119 The Science of Political Economy 87, 107 Safety (George), 129 speech opposing Hawley-Smoot Tariff engineering of autos, 17 Scientific American magazine, 412 (document), 605–609 of food and drugs, 115, 163–164, 193 Scientific research supports TVA project, 273 Safety net for the poor, 105, 509 efficacy of, 456 suspends antitrust laws during Saint-Simon, Claude-Henri de, 48, 263 federal spending on, 455 economic downturn, 436 Salem witch trials, 20 Scott, Thomas A., 41 Roosevelt, Theodore (1858–1919), 163, Sales taxes, 473, 475 Scott, Winfield, 116 247–248, 324 Salk, Jonas, 84 SDI. See Strategic Defense Initiative champion of conservation reform SALT. See Strategic Arms Limitations SDR. See Special drawing rights movement, 60 Talks Sea Grant Colleges, 371 designates forest reserves, 119 Samuelson, Paul, 265 SEATO. See Southeast Asia Treaty efforts to counter bossism, 65 San Francisco Assay Office, 120 Organization ends Filipino-American War, 13–14 Sandinista National Liberation Front SEC. See Securities and Exchange New Nationalism, 49 (FSLN), 204 Commission opposes rebatism, 143 Santa Anna, Antonio Lopez de, 127 Secret Service, U.S., 295 and Panama Canal, 33 Santa Clara County v. Southern Pacific Sectionalism, 423 and panic of 1907, 222 Railroad (1886), 120, 412–413 Securities Pure Food and Drug Act, 235 Sartre, Jean-Paul, 178 24-hour trading, 468 Rough Riders, 247 Satellite/cellular telephones, 352 sales, 30, 252, 282–283 supports progressivism, 390, 425 Satellites, 352 Securities Act (1933). See Truth in supports tariff revisionism, 481 ATO programs, 2 Securities Act (1933) as trustbuster, 14, 255, 282, 345 telecommunications technology, 351 Securities and Exchange Commission Rossum, R. A., 67 and telecommunications technology, (SEC), 252, 471 Rostow, Walt, 290 352 accounting practices enforcement, 36 ROTC. See Reserve Officers Training Corps Saturday Evening Post (periodical), 320 disclosure of insurers required, Roth, Bill, 59 Saudi Arabia, 217 282–283 Rothschild Bank, 49 Savings. See Banks, savings; Personal established with New Deal, 246 Rothstein, Arthur, 107 savings supervises Nasdaq, 193 Rouvroy, Claude Henri de, 48 Say’s law of markets, 166 supervises NYSE, 203 Rowell, George P., 320 Scalawags, 42 Securities Exchange Act (1933), 471 Rowell’s American Newspaper Directory Scandals Securities Investor Protection (Rowell), 320 accounting, 36, 203 Corporation, 471 Ruckleshaus, William D., 296 Crédit Mobilier, 69 Security Rudman, Warren, 134 money laundering, 447 instituted by U.S. Customs, 291 Ruffin, Edmund, 228–229 Schechter Poultry Corp. v. United States nationally coordinated by U.S. Rule of 1756, 248 (1935), 198, 200, 251, 335–336, Defense Department, 292 Rule of reason, 208, 333–335, 390 419 priority of NATO, 207

Index 701

Security devices, and Bank Protection Eugene Debs convicted, 75 economic value of, 59, 459 Act, 24 prevents restraint of trade, 281 as economically rational, 459, 464 Sedition Act (1798), 264 and Pullman strike, 235 forbidden in expanding northwest, Segre, Emelio G., 397 and railroads, 327 208 Segregation used against labor unions, 333 Indians sold into, 477 enforced by Jim Crow laws, 46 violation by Northern Securities longevity in U.S., 463–464 of public education, 94, 95, 369, 370 Company, 207–208 moral implications, 463, 464 residential, 494 Sherman Silver Purchase Act (1890), 28, Northern views of, 462 by sex in workplace, 102 71, 132, 256 outlawed by Thirteenth Amendment, Self-adjustment doctrine, 234 repealed, 49 273 Self-employed workers, 58 Shipping rights (U.S.), England’s prohibited in Texas by Mexican Self-healing minefield system, 2 violation of, 204 government, 499 Self-regulation Ships, U.S. splits Democratic Party, 121 of advertising industry, 321 German submarine attacks on, 118 splits Whig Party, 242 of stock exchanges, 470, 471 pirates attack along Barbary Coast, and Tallmadge Amendment, 424 The Selling of Joseph (Sewall), 257 228 and triangular trade, 281 Seminole Indians and Trail of Tears seized by Britain, 117, 205, 248, 304 See also Emancipation Proclamation; forced march, 276 seized by France, 175, 205 Peculiar institution Senate Finance Committee, 59 Shleifer, Andrei, 466 Slavery: A Problem in American Senior centers, 92 Shogunate (Japan), 141, 142, 162 Institutional and Intellectual Life, Senior citizens and Medicare health Shook, Dale, 179 458 insurance, 182 Shoshone Project (1910), 73 Slavery Justified, by a Southerner Separation of powers, as checks and Shriver, R. Sargent, 56 (Fitzhugh), 258 balances, 44 Shultz, George, 260, 261 Slaves September 11, 2001, 502 Silent Spring (Carson), 295 as colonial labor force, 422 economic consequences, 36, 345 Silver and cotton production economics, 97 effects on airline industry, 81, 278 abandoned for gold, 357 domination literature, 458, 459 effects on immigration policy, 401 as coin currency, 132 emancipated, 59 and federal reinsurance for insurance free, 52, 230. See also Free Silver median holdings, 462 (table) industry, 407 Movement population distribution, 460–461, 461 Service marks, 409 unlimited coinage, 71 (table) Servicemen’s Readjustment Act. See GI U.S. Treasury authorized to purchase, purchased/transported in triangular Bill of Rights 256 trade route, 257, 280, 280–281 Set-aside quotas, 20 Silver Purchase Act, 131–132 runaway, 58, 124, 227, 232, 258 Seven Pines Battle, 54 Simons, Henry, Chicago School, 364 sold in Brazil, 460 Seven Years’ War. See French and Indian Sinclair, Upton, 163–164, 235, 345, 507 transitioning from bondage to War (1756–1763) Sinclair, Upton Beal, Jr. (1878–1968), freedom, 34 Severance tax, on natural resources, 173 256–257 victimization literature, 459 Sewall, Samuel, 257 Singapore Exchange, 11 See also Emancipation Proclamation; Seward, William (1801–1872), 253, 279 Single Tax League, 129 Peculiar institution; Slavery begins purchase of Danish West Sino-Japanese War, 162 Slovakia, 206 Indies, 300 Sismondi, Jean-Charles Leonard Slovenia, 206 radical antislavery principles, 253 Simonde de, 234 Slums, 508 Seward’s Folly, 8, 253, 279 Sixteenth Amendment (1913), 37, 179, defined, 491, 493 Shakespeare, William, 245 229, 256 Smaller War Plants Corporation, 306 Shalala, Donna, 292 Slater, Samuel, 152 Smallpox decimates Native American Share Our Wealth: Every Man a King Slaughterhouse Cases (1873), 417 populations, 83 (Staff of Huey Long), 254 Slave labor law, 427 Smart cards, 343 Share Our Wealth Society, 173, 254 Slave trade Smith, Adam, 39, 55, 241, 307, 332, 344, Sharecropping, and New Deal policies, in colonial America, 477–478 361, 387 120, 329 Dutch taken over by British, 459 advocates laissez-faire economics, 170 Shaw, Lemuel, 55 triangular system, 459–460 compared to Daniel Raymond, 238 Shays’ Rebellion, 16 Slave-labor system economic liberalism doctrine, 91 Shelley v. Kraemer (1948), 254–255 compared to indentured servitude, 459 on Navigation Acts, 184 Shenk, David, 324 efficiency, 464 principles of taxation, 473 Sherman, John, 244 profitability, 464 on social relations, 47 Sherman, William T., 120 Slavery, 257–259, 258, 394, 458–465, theory of absolute advantage, 21 Sherman Anti-Trust Act (1890), 14, 15, 459–463 Smith, Alfred E., 179 34, 37, 121, 255, 333, 390, 436 abolition of, 46, 97, 238, 259 Smith, Gerald L. K., 275 and AT&T, 349 as cornerstone of Confederacy, 258 Smith, Hoke, 260 dissolves Standard Oil, 267 and cotton economy, 66, 152 Smith, John, 360 document, 572–573 Deep Southeast compared to Deep Smith-Connally Act (War Labor Disputes enforced by Clayton Bill, 112 Southwest, 461–462 Act) (1943), 259

702 Index

Smith-Lever Act (1914), 4, 260, 327, 368 and Stamp Act, 266 cause of, 265 Smith-Mundt Act (1948), 297 South Africa, 98 and need for Panama Canal, 220 Smithsonian Agreement (1971), 260–261 South Carolina Theodore Roosevelt’s role in, 247 Smithsonian Institution, 453 nullification crisis, 48, 116, 208, 264 U.S. becomes imperial power, 181 Smuggling, 261–262 opposes Tariff of Abominations, 271 Spatial mismatch theories of by colonial Americans, 65 threatens to secede over tariff, 161 urbanization, 494–495 encouraged by Embargo of 1807, 97 South Carolina Exposition and Protest Special drawing rights (SDRs), 156 of molasses for rum, 270 (1828), 161, 209, 233, 264, 271 Special interest groups (lobbying), 173 prevention by U.S. Customs Service, South Korea, 52 Agricultural Bloc, 328 291 Southeast Asia Treaty Organization Special Supplemental Nutrition in reaction to Navigation Acts, 202 (SEATO), 43 Programs for Women, Infants, and trials without juries, 275 Southern California Edison Company, Children (WIC), 100 undermines Continental System, 63 geothermal plant, 378 Specie (gold and/or silver coin), 10, 51 use of airplanes, 262 Southern Fire-Eaters, 228 as bank assets, 24 Smurfing, technique for money Southern Pacific Railroad, bimetal, 28 laundering, 445 transcontinental, 277 limited supply of, 11 Social cohesion, 48 Southern states, 64, 271 resumption to, 243–244 Social Darwinism theory, 171, 363 cotton as socioeconomic system, 66, standard, 439 and exclusion of immigrants, 396, 397 116 Speculative industries, 468–469 poor people as factor of natural economy collapses from Civil War, 97, Spelman, Laura Celestia, 245 selection, 506 259 Spencer, Herbert, 334, 417, 418, 491 and urbanization, 491–492 effects of National Bank Act, 341 Spending budget, 33 Social Democratic Party, 178 opposes economic policies of North Spies, for the Union Army, 227 and Eugene Debs, 75 and West, 499 Spinning mill of Boston Associates, 152 of Germany, 263 Reconstruction economy, 41 The Spirit of the Laws (De Secondat), 44 Social justice model for urbanization, slavery perceived as economic Spoils system 493, 494 necessity, 258, 464 Andrew Jackson investigates, 65 Social reform, 505–506 Sovereign, James R., 168 practice of patronage, 224 Social revolution, and IWW, 152 Soviet Marxism, 178 reform, 225 Social Security Soviet Union, 2, 43, 178 Springer v. United States (1881), 229 poverty line defined, 62 bankruptcy of, 53 Sputnik I (1957), 2, 53 privatization of, 262 and Berlin Wall, 26 impact on science research funding, Social Security Act (1935), 7, 262, 508 and cold war, 52–53 456 and Congress, 59 industrialization of, 153 leads to emphasis on math, science, as entitlement program, 100 NATO as defense against, 206 and engineering, 95 established with New Deal, 203 reforms, 27 leads to legislation for national originated by Frances E. Townsend, relationship with Cuba, 70 defense, 195 274, 275 rivalry with U.S., 53, 290 NASA created in response, 194 unemployment insurance, 286 technology transfer with U.S. reawakens education reform efforts, Social welfare prevented, 272 370 penitentiary movement, 69 threat to Middle East, 42 Square Deal (T. Roosevelt), 247 programs increase with Great Society, and U.S. exports, 102 St. Clair, Arthur, 280 136 U.S. wheat embargo (1979), 106, 330 St. Lawrence Seaway, 73, 292 reforms, 495. See also Welfare reform withdraws from Marshall Plan, 177 St. Louis, Missouri, 136 See also Welfare Space program Stabilization analysis, 33 Socialism, 263 and cold war, 53 The Stages of Economic Growth: A Non- The Jungle promotes, 163 leads to telecommunications Communist Manifesto (Rostow), Socialist Party technology, 351 290 and Eugene Debs, 75 of NASA, 194 Stagflation, 68, 166, 265–266 Upton Sinclair joins, 256 in response to Sputnik I, 194 of 1970s, 240, 294 Society, 300 Space station, international, 194 defined, 154 and problem of inflation, 303 Spain and Nixon’s wage-price freeze, 303, 392 Sociology, 48 cedes possessions to U.S., 227, 500 tied to overregulation and Software, 58, 185, 186 closes New Orleans to U.S. shipping, overtaxation, 393 Soil Bank Program, 6, 330 173–174 Staggers Act (1980), 157, 489–490 Soil conservation, 263–264 colonies of, 70, 227, 234 Stalin, Joseph, 52, 178 Soil Conservation and Domestic Indian assimilation policy, 150 Stamp Act (1765), 11, 31, 97, 124, 261, Allotment Act (1936), 3, 4, member of NATO, 206 266, 478 263–264 relations with Cuba, 181, 264 Stamp Act Congress, 266–267 Solar power, 137, 377 surrenders Louisiana Territory to Standard of living, and Consumer Price Soldiers, problems paying, 63 France, 173 Index, 61 Sons of Liberty, 30, 275 Spanish-American War (1898), 118, Standard Oil Company, 40, 152, 267, 332, lead Boston Tea Party, 272 264–265, 500 333

Index 703

charged with monopolization, 34 Stock market, 466–472 Study in Power: John D. Rockefeller contributions to the U.S. economy, boom (1996–2000), 51 (Nevins), 245 267 bubble created with War of 1812, 467 Submerged Lands Act (1953), 376 IG Farben agreement with, 335 and capital-intensive corporations, Subsidies as integrated company, 267 468–469 of Amtrak, 278 origins, 245 crash of 1929. See Stock market crash of aviation industry, 18, 278 prosecuted under Sherman Anti-Trust of 1929 eliminated, 6 Act, 255 defined, 466 encourage transportation revolution, trust formed, 281 development of, 467–468 278 violation of antitrust rules, 15 Dow Jones economic indicator, 86 farm, 6, 223 Standard Oil Company V. United States of early republic, 467 federal economic policy, 388 (1911), 208, 334, 418 growth of activity, 283 for home loans, 493 Stanford, Leland, 277 post-World War II, 471 on long-distance calls, 351 Stanley, Morgan, 345 regulation of, 469–470, 470, 471 railroads, 237, 344 Stanwood, Edward, 171 scandals, 470 rural electricity, 249 Star Wars. See Strategic Defense Initiative speculation, 22, 135, 246 Suez Crisis (1956), 118, 214 START. See Strategic Arms Reductions See also Dow Jones Industrial Average; Suffrage, universal white male, 161 Treaties Nasdaq; New York Stock Exchange Sugar, 269 State banks. See Banks, state-chartered Stock market crash of 1929, 156, 203 and Cuban economy, 70 State militias. See Militias; National and Banking Act (1933), 24 and Dominican Republic’s economy, Guard Stockman, David A., 59 86 States freezes target prices (farm), 7 import taxes collected on, 78 debts asumed by federal government, resigns as Budget Director, 240 imported from Hawaii, 142 242 and supply-side economics, 239 monopolies, 288–289 grant rights to inventions or ideas, Stocks produced by Philippines, 227 410 collapsed prices (1929), 135 protective tariff on, 82 ineffective regulation of stock dot-com, 96 of Puerto Rico, 234 exchanges, 470 issued by Bank of the United States, smuggled, 65, 261 notes redeemed for gold, 220 467 Sugar Act (1764), 11, 124, 184, 261, police powers of, 165 manipulation banned, 202 269–270, 478 provide tax revenue to federal ownership separated from voting trials for smugglers, 65 government, 271 rights, 470 Sumner, Charles, 225 regulate banking systems, 25, 355–356 registration required, 282–283 Sumner, William Graham, 13 regulate business for public good, 190 technology, 36 Sunshine regulations, 34 regulate insurance, 406 Stone, Harlan F., 419, 420 Super Bowl advertising, 323 resistance to federal government, 208, Stone Supreme Court (1941–1946), 420 Supplementary Security Income, 231 264 Store of value, function of money, 439 Supply-side economics, 35, 239, 266, 270 responsible for poor relief, 505 Storey, Moorfield, 13 of Reagan, 240, 393 responsible for schools, 366, 367 Story, Joseph, 416 See also Reagonomics sales taxes, 473 Stowe, Harriet Beecher, 411 Supreme Court, U.S. slave and free disputes, 258 Strategic Arms Limitations Talks (SALT), on AFDC benefits, 7 tax as prerequisite to vote, 228 82 on antiunion policies, 15 Stationers’ Company, England, 410 Strategic Arms Reductions Treaties Burger Court (1969–1986), 420 Steagall, Henry, 24, 129 (START), 82 Chase Court (1864–1873), 417 Steam engine and power, 277 Strategic Defense Initiative (SDI) (1983), on civil rights, 46 economic significance, 375, 452 186, 239, 268, 268–269 Congress controls interstate Steamboats, 12, 129, 452 Strategic Petroleum Reserve, 16 commerce, 129 and transportation policy, 486 Strikes constitutionality of school vouchers, Steel, 267–268 IWW, 153 95 and Andrew Carnegie, 40 NWLB intervention, 201 decides property rights and equal Bessemer process, 268 Pinkerton Agency helps big business, protection discrimination rights, production, 151 227 254 protected from foreign competition, Pullman, 234–235 decisions regarding economic 268 railroad labor dispute (1877), 136 matters, 415–421 Steel belt, 151 and Taft-Hartley Act, 170 declares New Deal legislation Steffens, Lincoln, 256 unsuccessful, 168 unconstitutional, 246, 251, 304 Steinbeck, John, 87, 263 Strong, Benjamin, 29, 381 distinguishes between manufacturing Stephanson, Anders, 176 Structural budgets, 33 and commerce to define Stephens, Alexander, 258 Stryker, Roy Emerson, 107 monopoly, 289 Stephens, Uriah S., 167 Studebaker, Clement, 345 on environmental policy, 8 Stern, Otto, 397 Student loan programs, NDEA, 196 and fair labor standards, 44 Steward Machine Co. v. Davis (1937), 419 Student Nonviolent Coordinating as final arbitrator, 435 Stigler, George, Chicago School, 337, 364 Committee, 46 Fuller Court (1888–1910), 417

704 Index

Supreme Court, U.S. (continued) Taft-Hartley Act (1947). See Labor- of Reaganomics, 239 Hughes Court (1930–1941), 419–420 Management Relations Act (1947) without spending cuts, 240 interpretation of monopoly, 282 Taiwan, 45, 52 Taxation, 473–476 inviolability of contracts, 315 Talleyrand, Charles Maurice de, 174 ability-to-pay system, 474 on land transfer to lumber Tammany Hall boss system, 65 benefit-received system, 473–474 companies, 274 Tandy Company, 58 boycotts against, 31–32 legality of Freedmen’s Bureau courts, Taney, Roger B., 43, 161, 416 of businesses, 474 34 Taney Supreme Court (1836–1864), Confederation, 271–272 Marshall Court (1801–1835), 177, 416 416–417 on consumption, 475 Rehnquist Court (1986– ), 420 TANF. See Temporary Assistance for on income, 474–475 rules income tax unconstitutional, Needy Families local control of, 272 309 Tarbell, Ida M., 245, 256 principles of (Smith), 473 rules on constitutionality of state Target prices on property, 475–476 laws, 51, 113 freezing, 7 regressive and progressive rates, 474 Stone Court (1941–1946), 420 for key commodities, 329 without representation, 157, 266 Taft Court (1921–1930), 418–419 set to control agricultural production, Taxes Taney Court (1836–1864), 416–417 231 of all printed materials (British), 205 on university admissions, 3, 20–21 Tarhe the Crane, Wyandot chief, 279 and case law, 434 Vinson Court (1946–1953), 420 Tariff of 1816, 220 collected on Puerto Rican sugar, 78 Warren Court (1953–1969), 14, 420 Tariff of 1824, 233 defined, 473 Watte Court (1874–1888), 417 Tariff of 1828, 116, 161 direct, 229, 256 White Court (1910–1921), 418 See also Tariff of Abominations federal excise on distilled alcohol, Surgeon General Report (1964), on Tariff of Abominations, 233, 264, 270, 308 cigarette smoking, 323 479 increased by Democrats, 36 Surpluses and South Carolina nullification regressive, 183 achieved through government crisis, 161, 208 single, 129 intervention, 184 Tariff revisionism, 481 transferred from businesses to actual or cyclical, 33 Tariffs, 48, 180 individuals, 37 agricultural, 4, 6, 7 on all imported goods, 63 Taylor, Frederick, 66 distributed to state banks, 84 eliminated under NAFTA, 206 Taylor, George Rogers, 487 followed by depressions, 80 federal economic policy, 388 Taylor, Zachary, 122, 307 labor-intensive, 12 against foreign cartels, 436 Taylor Grazing Act (1934), 430 oil, 214 -free trade debate, 479–480 Tea Act (British) (1773), 30, 157, 272 sold on international market, 180 increased on imported steel, 151 Teachers, 369 of U.S. government budget, 51 on industrial products, 482 (table) licensing required, 368 See also Budget deficits and surpluses lower to stabilize and improve foreign unions, 370 Survey of Current Business, 21 relations, 146 Teaford, Jon C., 151 Surveys to gauge consumer opinions, 321 nullification crisis, 116 Technology Survival of the fittest. See Social opposition to, 171 of financial services, 25 Darwinism theory promoting new industries, 180, 423 government regulation of, 452 Sutherland, George, 418, 419 protective. See Protective tariffs transfer, 64, 272–273 Sutter, John, 132 raised by Hawley-Smoot Tariff Act, Technology Administration (TA), 291 Swann v. Charlotte-Mecklenberg Board of 345 Technology assessment, 457 Education (1974), 94 reduced by executive branch, 241, Technology stocks, 36 Sweatshop wage labor, 131 247, 285 Tecumseh, chief of Shawnee Indians, 305 Swift, John, 416 reduced through GATT, 128, 482 Tedlow, Richard S., 324 Swift v. Tyson (1842), 416 reduced through Reciprocal Trade Teenagers, on welfare, 226 Swift v. United States (1905), 418 Agreements Act, 122 Telecommunications Act (1966), 350 reduced through Underwood- Telecommunications industry, 348–352 TA. See Technology Administration Simmons Tariff Act, 285 deregulated, 81 Table of Indian Languages (Gallatin), 128 reductions, post-World War II, 165 managed by NTIA, 201 Tableau Oeconomique (Quesnay), 47 reform, 285, 308 regulation of, 350–352 Taft, Robert A., 170, 427 as response to Great Depression, Telecommuting, 58 Taft, William Howard, 14, 91, 380, 418, 142–143 Telegraph service, 348 419 as retaliation, 45, 483 Telephone industry, 352 breaks with Theodore Roosevelt, revenue, 37 antitrust issues, 348–349, 351 247–248 supported after Civil War, 480–481 history in U.S., 349–350 dollar diplomacy, 85 against U.S. by Britain, 117 interstate regulations, 350 supports tariff revisionism, 224, 285, Tax adequacy, 473 long-distance service regulated, 481 Tax cuts 350–351 as trustbuster, 255, 282, 345 advocated by Republican Party, 243 oversight provided by ICC, 350 Taft Supreme Court (1921–1930), blamed for deficit, 134 Rural Electricity Administration 418–419 under George W. Bush, 36 service, 249

Index 705

Television Tobacco Trade sanctions, 479 advertising, 322–323, 324 industry begun by John Rolfe, Trade surplus economic influence of, 181 245–246 defined, 21 sponsorship system, 322 less labor-intensive than rice or generated by China, 45 Teller Amendment (1898), 70, 265 cotton, 462 Trademark Act (1905), 412 The Tempest (Shakespeare), 245 slaves as labor force, 459 Trademark Act (1946), 412 Temporary Assistance for Needy Families use of indentured servants, 150 Trademark Act (Lanham Act) (1947), (TANF), 7, 8 Tobin, James, 125 275–276 Tenancy (farm), 107, 120 Tontine insurance, 403, 405 Trademark Amendments Act (1999), 276 Tennessee Valley Authority (TVA), 47, Torricelli, Robert, 59 Trademarks, 409 273, 329 Toshiba Corporation, violates CoCom’s dilution of, 276 construction, 73 policy, 64 protected by patent law, 275–276, 411 hydroelectric plants, 202 Totalitarianism, communist, 52 safeguarded by World Intellectual See also Muscle Shoals, Tennessee Town meetings, limited by British Property Organization, 311 Territorial expansion, 155 Intolerable Acts, 158 Trade-secret law, 409, 412 economic consequences, 39 Townbee, Arnold, 153 Trading volume, high, 467, 468, 471 of Japan, 162 Tow nsend, Francis E. (1876–1948), 262, Trail of Tears forced march of Indian as manifest destiny, 176 274–275, 508 tribes (1838), 150, 276 overseas, 13 Tow nsend Plan, 275 Transcontinental railroad. See Railroads, Terrorism, war on, 37, 119, 502 Tow nshend, Charles, 275 transcontinental Terrorism financing schemes, 448–450 Tow nshend Acts (1767), 11 Transcontinental Railroad Act (1862), Tesla, Nikola, 375 Tow nshend Duties (1767–1773), 97, 275 277 Test Ban Treaty (1963), 82 repeal of, 272 Transfer of goods and services, 21 Texas Toxic pollutants, 137 Transistors replace tubes in computers, admitted as slave state, 258, 280 Toxic Substances Control Act (1976), 392 57 annexed as U.S. territory, 121, 429 Toyota, 17 Translations covered by copyright law, Texas Instruments, technology transfer Trade, 163 411 issue, 272 American colonies and England, 11 Transmissible spongiform Textiles barriers addressed through GATT, encephalopathy (TSE), 176 Boston Associates mill, 152 128 Transportation Acts (1920, 1940), 157 English industry, 151 with Central Powers in World War I, Transportation average (Dow Jones), 86 mills employ young women and 312 Transportation Department, U.S., 136 children, 424 expansion in Western Hemisphere, Transportation policy, 485–490 Theater (city or regional) missile 219 airplanes, 489–490 defenses (TMD), 268 increased by Panama Canal, 34 automobiles, 489 Theodore Roosevelt corollary, 133 international, 21, 36, 49, 146 brings increased prosperity, 424 Theory of Comparative Advantage liberalized policies of U.S. Good in colonial America, 485–486 (Ricardo), 122 Neighbor Policy, 133 deregulation trends, 489–490 The Theory of the Leisure Class (Veblen), neutrality banned by British, 215, 216 develops stock market as speculative 363 restraints. See Restraint of trade industry, 469 Third world. See Developing countries; routes linking Europe, Africa, and in early republic, 486 Less-developed countries Americas, 280–281 as interstate commerce regulated by Thirteenth Amendment (1865), 46, 97, unfair practices, 45 federal government, 278 259, 273–274 Trade barriers railroads, 487–489 Thompson, J. Walter, 320 imposed on beef, 176 rates for farmers, 197 Thoughts on Political Economy reduction, 36 revolution, 12, 277–278, 375–376 (Raymond), 238 Trade deficit, 240 rivers and canals, 486–487 Three Mile Island nuclear reactor defined, 21 and slavery, 485 accident, 377 Trade Expansion Act (1962), 482 in synergistic relationship with Thrifts, failure of, 25, 109 Trade policy, 477–484 economy, 388, 486 Tillman, Benjamin Pitchfork, 133 1815–Civil War, 479–480 tied to manufacturing development, Tillman Act, 247 among NAFTA partners, 483 242 Timber and Stone Culture Act (1878), British, 477 Treasury bills, sales, 30 274, 280, 388, 430, with China, 482–483 Treasury bonds, sales, 30 570–571(document) Civil War to World War I, 480 Treasury Department, U.S., 30, 294–295 Timber Culture Act (1873), 41, 274, 280, in colonial America, 477–478 charges bootleggers with income tax 388, 430, 569(document) effects of Japan’s VERs, 483 evasion, 262 Time on the Cross: The Economics of GATT enacts rules-based trading line of credit to, 5 American Negro Slavery (Fogel and system, 482 responsible for monetary policy Engerman), 458 independence to 1815, 478–479 management, 441 TMD. See Theatre missile defense between World War I and World War Treasury notes, sales, 30 “To the Person Sitting in the Darkness” II, 481–482 Treasury-Federal Reserve accord (1951), (Twain), 13 World War II to present, 482–484 383

706 Index

Treaty between the United States of UN. See United Nations threatened under Sherman Anti-Trust America and the French Republic Uncle Tom’s Cabin (Stowe), 411 Act, 282 with Conventions. See Louisiana Underground railroad, 58, 227, 258 and U.S. Labor Department, 294 Purchase Underwood, Oscar W., 285 See also Labor unions Treaty of 1783, 216, 265, 278, 278, 485 Underwood Tariff Act, 309 Unit of account, function of money, 439 Treaty of 1867, 279 Underwood-Simmons Tariff Act (1913), United Arab Emirates, 217 Treaty of Annexation of Hawaii (1898), 146, 179, 285, 309, 480 United International Bureau for 142 Underwriting insurance, 402 Protection of Intellectual Property, Treaty of Fort Jackson, ends Creek War, Unemployment, 286 311, 413 145 combined with high inflation equals United Kingdom. See Britain; England Treaty of Ghent (1814), 279, 305 stagflation, 265 United Nations, 287–288 Treaty of Greenville (1795), 279–280 compensation under Social Security and industrialization of Third World Treaty of Guadalupe Hidalgo (1848), Act, 262, 427 countries, 153 127, 280, 429, 554–561(document) and Coxey’s army, 68 and intellectual property protection, Treaty of Paris. See Treaty of 1783 depresses aggregate demand, 80 311, 413 Treaty of San Ildefonso, 173 effects on child labor, 44 replaces League of Nations, 118 Treaty of San Lorenzo. See Pinckney and exclusion of immigrants, 396 United Nations Children’s Fund Treaty frictional, 286 (UNICEF), 288 Treaty of Versailles, 82, 309, 313, 501 during Great Depression, 507–508 United Nations Monetary and Financial Treaty of Wangxia (1844), 45 inner-city, 146 Conference (1944), 32 Tree planting, for free public lands, 274 leads to macroeconomic instability, 175 United Pipe Lines, 245 Triangle Shirtwaist fire (1911), 310 loan-financed public works for, 77 United States Code Title 17, 1 Triangular trade, 257, 280–281, 478 natural rate of, 125 United States governmental agencies, Trickle-down effect of tax cuts, 134, 183, and Nixon’s wage-price freeze, 303 departments, bureaus. See Specific 240, 266, 270 numerical targets for, 125 organization name Tripartite Pact, 163 and panic of 1873, 221 United States Magazine and Democratic Trist, John, 280 rate, as economic indicator, 90 Review (periodical), 176 Trotsky, Leon, 178 relief provided with New Deal United States Steel Corporation, 41 Truax v. Corrigan (1921), 418 programs, 202, 426 United States v. Aluminum Company of Trucking industry, deregulated, 81, 157, and Say’s law of markets, 166 America (Alcoa) (1948), 336 490 seasonal, 286 United States v. American Tobacco The Truly Disadvantaged (Wilson), 494 structural, 286 Company (1911), 334, 418 Truman, David B., 345 Unemployment insurance, 286–287 United States v. Butler (1936), 419 Truman, Harry S (1884–1972), 56, 420 experience-rated, 287 United States v. Certain Lands (1936), 296 Fair Deal, 67 as state function, 370 United States v. Darby Lumber Co. (1941), and Marshall Plan, 177 Unfair competition, 112, 170, 200 420, 435 monetary policy control controversy, UNICEF. See United Nations Childrens United States v. E. C. Knight & Co. 383 Fund (1895), 333 termination of Indian reservation Uniform Trade Secrets Act (1979), 412 United States v. E. C. Knight Co. (1895), system, 151 Unilateral transfers, 21 288–289, 417 Truman Doctrine (1947), 52, 56, 281, 386 Union of Soviet Socialist Republics. See United States v. Falstaff Brewing (1973), Trust Indenture Act (1939), 252 Russia; Soviet Union 337 Trusts, 281–282 Union Oil Company of California, United States v. Fortner Enterprises, Inc. See also Monopolies geothermal plant, 378 (1969), 337 Truth in Securities Act (1933), 282–283, Union Pacific Railroad United States v. General Dynamics (1974), 471 construction, 277 337 Truth-in-Lending Act (1968), 282 Crédit Mobilier scandal, 69 United States v. Lopez (1995), 420 Tuberculosis, 83 land grants to, 278 United States v. Marine Bancorporation Tugwell, Rexford G., 107, 167, 321–322 and transcontinental railroad, 488 (1974), 337 Turkey Union Party, 275 United States v. Microsoft (1998), 282 Baghdad Pact (1955), 42 Unions United States v. Microsoft Corporation member of CoCom, 64 court injunctions brought by (2001), 337 member of NATO, 206 employers, 169 United States v. South-Eastern U.S. presence against Soviet threat, 281 effects of Wagner Act, 304 Underwriters Assoc. (1944), 435 U.S. removes missiles, 70 and Japanese automakers, 10 United States v. South-Eastern Turner, Donald, 336 laws governing, 169–170 Underwriters Association (1944), Tuskegee Institute, 368 NWLB support, 201 406 TVA. See Tennessee Valley Authority protected under federal law, 15 United States v. Verduigo-Urquidez Twain, Mark, 13, 327, 362, 411 Pullman strike, 234–235 (1990), 78 Twenty-first Amendment, 65 required to give notice of intention to United States v.Trans-Missouri Freight Twenty-Fourth Amendment, 228 strike, 259 Association et al (1897), 334 Typhoid, controlled by Walter Reed, right to collective bargaining, 170 UNIVAC, computers for commercial use, 83–84 teachers, 370 57

Index 707

Universities, 2 U.S. Steel, 470 costs purposely underestimated, 299 admissions quotas, 20 U.S. Supreme Court. See Supreme Court, funded to fight communism, 56 founded by government and U.S. Vietnam veterans’ memorial, 196 industrialists, 367 U.S. Trademark Association (USTA), 412 Vietnamese refugees, 398 on frontline for scientific research, USAID. See U.S. Agency for International Viner, Jacob, Chicago School, 364 455, 456 Development Vinson Supreme Court (1946–1953), 420 University of California Medical School, USDA. See Agriculture Department, U.S. Virgin Islands, purchase of (1917), admissions quotas, 2, 20 Use taxes, 474 300–301 University of Chicago economists, 154, USEPA. See Environmental Protection Virginia Colony, 19, 20 270 Agency, U.S. Virginia Company, 245–246 University of Minnesota, vocational and USIA. See Information Agency, U.S. Virginia Resolution of James Madison agricultural education, 368 USSR. See Russia; Soviet Union (1798), 264 University of Pennsylvania, 27, 57 Utah, 280 VISTA. See Volunteers in Service to Unsafe at Any Speed (Nader), 193, 346 Utilitarian ethics of laissez-faire America Urban economics, 171 VOA. See Voice of America federal subsidy for redevelopment, Utilitarian philosophy of John Stuart Vocational Education Act (1963), 371 145 Mill, 361 Vocational education and training, housing investigations, 491 Utilities 367–369 policy, 289–290 averages, 86 federal government funding, 370 population expansion of, 491 government ownership, 191 increases after Civil War, 368 renewal, 146, 289 investor-owned, 95. See also Public legislation, 367 riots, 494 utilities Vocational Rehabilitation Act (1943), 369 Urban development, 495 Utility theory, 363 Voice of America (VOA), 297 classical theory, 493 Volcker, Paul A. (1927– ), 29, 154, 301, redevelopment, 146 VA. See Veterans Administration 359, 383, 393 Urbanization, 491–496 Vachon, John, 107 Volkswagen advertising campaign, 322 analysis, 492 Vail, Theodore, 349, 350 Volstead Act (1920), 65, 232 changes in economy, 493 Vallee, Rudy, 321 Voluntary export restrictions (VERs), defined, 491 Value-added products, and research- 483 and increased demand for farm intensive products, 144 Volunteers in Service to America products, 5, 327 Van Buren, Martin (1782–1862), 12, 299 (VISTA), 136 and logic of natural competition, 494 as Free-Soil Party nominee, 121 von Neumann, John, 57 U.S. Agency for International and panic of 1837, 161 Voting Development (USAID), 290 and Tariff of Abominations, 271 poll tax as prerequisite, 228 U.S. Antidumping Act (1921), 12 Veblen, Thorstein, 363 rights, 308, 310 U.S. government Venezuela, 217 Voting Rights Act (1965), 46, 136, 308 assisting business owners against VERs. See Voluntary export restrictions Voting trusts, 470 workers, 15 Vertical equity tax structures, 474 Vousden, Neil, 483 budget authority described, 32 Vertical integration Vreeland, Edward B., 9, 380 as colonial power, 265 of American Tobacco Company, 34 debt following Revolutionary War, described, 40 WAACs. See Women’s Auxiliary Army 272 of Standard Oil, 267 Corps economic powers described in structure of telephone industry, 349, Wabash, St. Louis, and Pacific Railway Co. Constitution, 60 351 v. Illinois (1886), 237, 417 funds TVA, 273 Veterans Wabash railroad dispute settled with intervention in Dominican Republic, benefits, 92, 93, 369 Knights of Labor, 167 86 Bonus March (1932), 30, 93 Wade, Benjamin, 54 officials accused of corruption, 65 entitlement programs, 100 Wage and price freeze (1971), 392 patronage of aviation, 18 and Homestead Act, 145 Wages, 89, 426 points of conflict with United low-interest home loans, 68 cost-of-living increases, 201 Nations, 287–288 military bounties of land, 429 inflation-adjusted, 61 policy of annihilation of Indian pensions limited, 49 for laborers, 167 tribes, 150 property tax exemptions, 476 Wages and prices power expanded with New Deal, 202 training in agricultural education, 370 controlled by government during provides financial assistance to World War II, 253 World War II, 98, 501 railroads, 237 Veterans Administration (VA) freeze (1971), 303 role in economic depressions, 68 hospitals, 100, 253 Wagner, Robert F., 167, 170, 304 susidizing infrastructure, 154 mortgages, 111, 145 Wagner Act (1935), 15, 55, 199, 290, 294, as system of checks and balances, 44 Vickrey, William, 125 304 trademark violation immunity Videx EC brand didanesine, 1 as authority on issues of organized eliminated, 276 Vietnam conflict (1954–1973), 299–300 labor, 169 U.S. Housing Act (1937), 293, 296, 493 affects research and development collective bargaining rights, 10, 170 U.S. Military Academy at West Point, 452 funding, 456 See also National Labor Relations Act

708 Index

Wagner-Steagall Act (1937), 296 Water West Germany Wakeman, Frederick, 322 compliance with USEPA standards, and Berlin Wall, 26–27 Walker, Francis A., 9, 363 296 member of CoCom, 64 Walker, William, 204 irrigated in previously uninhabited West Point Bullion Depository, 120 Walker Tariff (1846), 233 areas, 73, 158 Western Federation of Miners, 152 Wall Street Journal (periodical), 86, 270 reclamation projects, 40 Western frontier, 274 Wallerstein, Immanuel, 153 rural systems, 249 agricultural development of, 326–327 Walls and Bars (Debs), 75 sanitary supplies provided by incompatible way of life to South, 499 Walsh, Lawrence, 158 UNICEF, 288 land granted through Timber Culture Waltham, Massachusetts, 152 Water power, as alternative energy, Act, 274 Wanamaker, John, 320 376–377 opened for settlement with Ordinance Wanniski, Jude, 270 Water Quality Act (1965), 136, 430 of 1785, 216 War and economic policy, 497–503 Waterman, Alan, 456 and poor relief, 505 1790s through 1830s, 498 Waterways, transportation policy, 486 rapid development promoted by 1830s through 1860s, 498–499 Watson, Tom, Sr., 57 William Seward, 253 1870s through 1930s, 499–501 Watt, James, 277 settlement encouraged by Homestead colonial America through 1780s, Watte Supreme Court (1874–1888), 417 Act, 144–145 497–498 WAVES. See Women Accepted for and Treaty of Greenville, 280 free market capitalism, 501 Volunteer Emergency Service Western Hemisphere as impetus for establishing scientific Wayne, Anthony, 280 free trade area, 123 agencies, 454 Wealth, 254 Pan American Union, 219 operations devoted to controlling oil- created by free market system, 40 U.S. economic policy, 133 rich Middle East, 502 distribution, 173, 306 Western Union, 349 shaped to U.S. economic needs, 500 inequality of, 3, 306 Westinghouse Electric, 350 War and warfare, 304–305 Wealth against Commonwealth (Lloyd), rivalry with Edison, 94 economic benefits of victories, 245 Wheat 304–305 The Wealth of Nations (Smith), 40, 55, embargo (1979), 105, 106 economic costs of, 304, 312 307, 344, 361, 387, 473 payment-in-kind, 7 production, 259, 312, 392 Weaponry, 186 surpluses, 7 submarine, against nonmilitary NATO, 207 Wheat Belt, 327 vessels, 312 Weapons of mass destruction, 103, 273 Wheel of wealth, 362 War Finance Corporation, 5 Weather data gathering, NOAA, 199 Wheeler survey (1869–1879), 429 War Industries Board (World War I), Weaver, James B., 230 Wheeler-Howard Act (1934), 150 312, 500 Webb-Pomerene Act (1918), 335 Whig Party, 12, 22, 307 War Labor Disputes Act. See Smith- Weber, Max, 48 and national bank, 23 Connally Act Webster, Daniel, 12, 129, 434 predecessor of Republican Party, 242 War of 1812, 39, 117, 355, 498 Dartmouth College v. Woodward Seward leads antislavery wing, 253 ends with Treaty of Ghent, 279 (1819), 74, 416 Whiskey Rebellion (1794), 127, 308 loans for, 27 and national bank, 23 White, Edward E., 418 reasons for, 97 supports high tariffs, 171, 208, 233 White, Henry Dexter, 32 stock market bubble created, 467 Whig Party leader, 307 White, Michael, 67 U.S. second war of independence, 304 Weinberger, Caspar, 158 White Supreme Court (1910–1921), 418 War of 1898. See Spanish-American War Welfare Whitney, Eli, 66 (1898) economics, 307 WHO. See World Health Organization War on Drugs, 65, 70 entitlement, 509 Wholesome Meat Act (1967), 136 War on Poverty (Johnson), 56, 509 federal responsibility for, 508–509, WIC. See Special Supplemental Nutrition War on Terrorism. See Terrorism, war on 509 Programs for Women, Infants, and War Production Board (WPB), 213, 306, Freedmen’s Bureau, 506 Children 313, 328 nationalization of, 507 Wickard v. Filburn (1942), 420, 435 War vehicles, manufactured by Ford, 116 workers’, 506 Widows, supported by ADC, 7 Warren, Earl, 14 Welfare capitalism, 506 Wigner, Eugene P., 397 Warren, George, 131 Welfare reform, 50 Wilensky, Harold, 292 Warren Supreme Court (1953–1969), advocated by Republican Party, 243 William (king of England), 53 420 breaking cycle of dependency, 226 Williams, Jonathan, 452 Wartime introduced by Richard Nixon, 105 Williams, Walter, 30 economic policies, 500–501 Welfare state, 504–510 Williams v. Mississippi (1898), 308 economy and Keynesianism, 392 defined, 504 Williams-Steiger Act. See Occupational importance of cartels, 436 Welfare-to-work programs, 100, 226 Safety and Health Act (1970) Washington, George, 62 Wells, Wyatt, 437 Willis-Graham Act (1921), 350, 351 and Confederation, 16 Wells Fargo (stagecoach), 132 Wilmot Proviso (1846, 1847), 258 expresses isolationist views, 159 West Coast Hotel Co. v. Parrish (1937), Wilson, Charles Erwin, 345 and Whiskey Rebellion, 308 419 Wilson, Henry, 453

Index 709

Wilson, Sloan, 322 Worcester, Samuel, 276 agricultural production demands, 6 Wilson, William Julius, 494 Worcester v. Georgia (1831), 276 debt, creating trading boom, 467 Wilson, Woodrow (1856–1924), 14, 66, Work stoppages, illegal, 259 economic consequences of, 118 309, 324, 500–501 Workers’ compensation, 294, 310–311, effects on oil supplies, 214 banking reforms, 22, 112 406 G.I. Bill of Rights for veterans, 253 and Clayton Anti-Trust Act, 49 Workhouses for the poor, 505, 506 government spending increases, 501 Fourteen Points for international Workplace immigration policies, 397 peace, 309, 312 fatalities, 211, 212 importance of scientific research and and League of Nations, 118 inequities, 231 development, 455 as Progressive president, 390 Works Progress Administration (WPA), increased aircraft production, 18 restructures protective tariff system, 110, 507 monetary policy, 29, 357 285 established with New Deal, 203 production and procurement of signs Smith-Lever Act (1914), 260 supports scientific research, 455 materials, 306 Wilson-Gorman Tariff Act (1894), 49, See also Civil Works Administration World Wide Web, and copyright 308 World Bank, 287 infringement issues, 81 Wind erosion, 87 created, 32 WPA. See Works Progress Administration Wind power as alternative energy source, and U.S. globalization plan, 130 Wright, Jim, 264 377 World Health Organization (WHO), 176 WTO. See World Trade Organization Windfall Profits Tax (1980), 16 World Intellectual Property Organization Wygant v. Jackson Board of Education, 3 Windows (Microsoft), 58, 185 (WIPO), 60, 311, 413 Wyoming, 280 Winslow, Erving, 13 Treaty, 81, 82 WIPO. See World Intellectual Property World Oil (Ivanhoe), 374 X-efficiency, 483 Organization World Trade Organization (WTO), 45, Xerox Star, 58 Wire transfer services for money 311–312, 413, 502 laundering, 448 and Congress, 60 Yancey, William, 495 Wirt,William, 434 cooperates with World Intellectual Yazoo Land Companies, 315 Wirtz, Willard, 211 Property Organization, 311 Yellow dog contracts, 426 Wisconsin free trade practices of, 122 described, 57 and Social Security Act (1935), 292 for increased globalization, 131 Yellow fever, economic consequences, 84 welfare-to-work AFDC program, 100 lowers trade barriers, 482 Yellowstone National Park, 28 Witte, Edwin, 262 opposed by antiglobalist movement, Yom Kippur War (1973), resulting oil Wobblies, 152 123 embargo, 16, 214 Wolcott, Marion Post, 107 replaces GATT, 128 Young and Rubicam advertising agency, Wolfe, James, 123 World War I, 312–313 322 Wolves, 28 creation of aviation industry, 18 Youngstown Sheet and Tube Company v Women, 309–310 debt, creating large trading volume, Sawyer (1952), 420 affirmative action, 3 467 Your Money’s Worth (Chase and Schlink), in labor force, 426–427 economic interests of U.S., 500 321 rights of, 310 effects on agricultural production, 5, Yugoslavia, 98 working during World War II, 427 328 Women Accepted for Volunteer first U.S. central economic planning, Emergency Service (WAVES), 427 391 Zelaya, Jose Santos, 85 Women’s Auxiliary Army Corps and monetary policy of Federal Zenger, John Peter, 319 (WAACs), 427 Reserve system, 441 Zidovudine, 1 Women’s Bureau, U.S. Labor reduces immigration, 396 Zimmermann, Arthur, 184–185 Department, 293 trade ceases with Central Powers, 481 Wood, as energy source, 99 World War II, 213, 313–314 Woodbury Soap advertising campaign, and abatement of Great Depression, 321, 323 135