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Jekyll Island History
Island History Enjoy The Unspoiled Natural Beauty Of Our Jekyll Island Resort And Club Our historic Jekyll Island resort and club is located off the Georgia coast, midway between Savannah, Georgia and Jacksonville, Florida. Situated between St. Simons Island and Cumberland Island, Jekyll is a short drive from the town of Brunswick and boasts of a salt marsh characteristic of the southeastern seaboard and a beach with the Atlantic Ocean lapping its shores. At 5,700 acres and a 33% limit on business development, Jekyll is the smallest of Georgia’s barrier islands, yet resplendent with moss draped live oaks, marshes and remote beaches with natural sand dunes and indigenous wildlife. Jekyll Island was purchased by the state of Georgia in 1947, and it became the Jekyll Island State Park. It was operated under the state park system until 1950, when it was transferred to the auspices of the Jekyll Island Authority (JIA), more able to operate as a business. The JIA board of directors is appointed by the governor of Georgia. Native American Settlement The mystique surrounding this Jekyll Island luxury resort is not limited to its reputation for being an opulent playground for the nation’s elite during the turn of the century. Jekyll Island itself is ripe with a diverse history all its own. As early as 2,500 B.C., Jekyll Island has been attracting visitors, beginning with small groups of hunter-gatherers seeking the island’s abundant natural resources. They were followed in 1540 A.D. by the Guale Indians, a tribe known for inhabiting a number of Georgia’s barrier islands. -
Staff Working Paper No. 845 Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018 Paul Schmelzing
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The Bank Restriction Act and the Regime Shift to Paper Money, 1797-1821
European Historical Economics Society EHES WORKING PAPERS IN ECONOMIC HISTORY | NO. 100 Danger to the Old Lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797-1821 Patrick K. O’Brien Department of Economic History, London School of Economics Nuno Palma Department of History and Civilization, European University Institute Department of Economics, Econometrics, and Finance, University of Groningen JULY 2016 EHES Working Paper | No. 100 | July 2016 Danger to the Old Lady of Threadneedle Street? The Bank Restriction Act and the regime shift to paper money, 1797-1821* Patrick K. O’Brien Department of Economic History, London School of Economics Nuno Palma Department of History and Civilization, European University Institute Department of Economics, Econometrics, and Finance, University of Groningen Abstract The Bank Restriction Act of 1797 suspended the convertibility of the Bank of England's notes into gold. The current historical consensus is that the suspension was a result of the state's need to finance the war, France’s remonetization, a loss of confidence in the English country banks, and a run on the Bank of England’s reserves following a landing of French troops in Wales. We argue that while these factors help us understand the timing of the Restriction period, they cannot explain its success. We deploy new long-term data which leads us to a complementary explanation: the policy succeeded thanks to the reputation of the Bank of England, achieved through a century of prudential collaboration between the Bank and the Treasury. JEL classification: N13, N23, N43 Keywords: Bank of England, financial revolution, fiat money, money supply, monetary policy commitment, reputation, and time-consistency, regime shift, financial sector growth * We are grateful to Mark Dincecco, Rui Esteves, Alex Green, Marjolein 't Hart, Phillip Hoffman, Alejandra Irigoin, Richard Kleer, Kevin O’Rourke, Jaime Reis, Rebecca Simson, Albrecht Ritschl, Joan R. -
The Case Against the Fed
THE CASE AGAINST THE FED By Professor Murray Rothbard Reviewed by Zia H Shah MD Those who devour interest stand like one whom Satan has smitten with insanity. That is so because they keep saying: The business of buying and selling is also like lending money on interest; whereas Allah has made buying and selling lawful and has made the taking of interest unlawful. (Al Quran 2:276) The fact that the history and ownership of Federal Reserve Bank in this age of information and inquisitiveness is shrouded in mystery bordering onto mysticism, should lend enough credibility to the so called conspiracy theorists. The human condition is, as Plato would make Socrates say in the Republic (7.514a ff.), comparable to that of prisoners of an underground cave, whose unfortunate fate is to confuse reality with passing shadows created by a fire inside their miserable abode and kept in motion by clever manipulators, who in the name of politics, religion, science, and tradition control the human herd. If you can believe Plato’s assertion then you are ready to go on a journey to demystify interest based economic systems. Very few bankers and MBAs and so called financial experts are aware of the status of the Federal Reserve Bank and how the whole system works and as a result in any conversation on this issue they become immediately defensive and have an inherent desire to hide their lack of information. There is a certain mystique and aura that surrounds any discussion of Federal Reserve. For example the Encyclopedia Britannica, 1 despite offering information on millions of less important subjects does not offer a single word of information on the topic of Federal Reserve and chooses to refer to the official websites of the twelve regional Federal Reserve Banks, that are an integral part of the Federal Reserve Bank. -
GA 2010 20.Indd
_____________________________________ ____________________ ____________________ __________________________ ___________ ____________________ ____________________ __________________________ ___________ _ _ __________________ _ _ __________________ _ _ _________________ _ _ __________________ _ _ __________________ _ _ __________________ _ _ __________________ _ _ __________________ _ Its Heritage and Its Promise _ __________________ _ , Claude Hatcher, _ __________________ _ TERMS _ __________________ _ PLACES PEOPLE Georgia: _ __________________ _ Woodrow Wilson Woodrow armistice, pandemic armistice, _ __________________ _ isolationism, World War I, War World isolationism, farming, servicefarming, industry, New South, diversify, truck South,New diversify, _ __________________ _ Alonzo Herndon, Morris Rich, Alonzo Camp Gordon, Camp Benning Camp Wheeler, Souther Field, Souther Field, Wheeler, Camp Pemberton, Asa Griggs Candler, Asa Griggs Candler, Pemberton, 496 Henry Grady, Charles Herty, John Charles Herty, Henry Grady, Ernest Woodruff ___________________ Camp Hancock, Macon, Columbus, _ _ ___________________ _ _ __________________ _ _ __________________ _ _ __________________ 497 _ _ __________________ _ _ __________________ ___________________ elds _ ____________________ ____________________ ____________________ ___________________________________________ __________ economy. ected Georgia’s _ _ _ __________________ boostede demand for cotton and textiles _ _ __________________ _ _ __________________ The Economy, Expansionism, and World -
Early Speculative Bubbles and Increases in the Supply of Money
UNLV Retrospective Theses & Dissertations 1-1-1991 Early speculative bubbles and increases in the supply of money Douglas Edward French University of Nevada, Las Vegas Follow this and additional works at: https://digitalscholarship.unlv.edu/rtds Repository Citation French, Douglas Edward, "Early speculative bubbles and increases in the supply of money" (1991). UNLV Retrospective Theses & Dissertations. 167. http://dx.doi.org/10.25669/h29l-bf64 This Thesis is protected by copyright and/or related rights. It has been brought to you by Digital Scholarship@UNLV with permission from the rights-holder(s). You are free to use this Thesis in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s) directly, unless additional rights are indicated by a Creative Commons license in the record and/ or on the work itself. This Thesis has been accepted for inclusion in UNLV Retrospective Theses & Dissertations by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact [email protected]. INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. -
Replacing Humpty Dumpty
Replacing Humpty THE MAGAZINE OF INTERNATIONAL ECONOMIC POLICY 888 16th Street, N.W. Suite 740 Washington, D.C. 20006 Phone: 202-861-0791 Fax: 202-861-0790 Dumpty www.international-economy.com The new role of central bank credit targets. he Fed has a way other than open market operations to prevent economic crises— which is what it was set up to do long ago. We here present an alternative view of central bank power that has more to do with systemic effects, and with animal spirits as well. When the Fed was initially set up in 1913, in imitation of European George A. Akerlof is the central banks, direct lending by the Federal Reserve banks in Daniel E. Koshland Sr. Ttimes of crisis—in times of special need for liquidity—was Distinguished Professor thought to be its major tool. The Fed was supposed to be deal- of Economics at the ing with systemic effects—the contagion of failure from one University of California, business to another. Berkeley, and was Throughout the nineteenth century there were periodic awarded the 2001 Nobel banking panics. The depositors would literally line up in front Prize in Economics. of their bank, fearful that those ahead of them in line would be Robert J. Shiller is the Arthur M. Okun Professor the last to make their withdrawals and that the bank would then of Economics at Yale University. This article is be out of money. Such runs on banks were contagious. Word adapted from their book, that one bank had failed its obligations led depositors at other banks to line up as well. -
Murray N. Rothbard: an Obituary
MurrayN. Rothbard , IN MEMORIAM PREFACE BY JoANN ROTHBARD EDITED BY LLEWELLYN H. ROCKWELL, JR. Ludwig von Mises Institute Auburn, Alabama 1995 Copyright © 1995 by the Ludwig von Mises Institute, Auburn, Alabama 36849-5301 All rights reserved. Written permission must be secured from the publisher to use or reproduce any part of this book, except for brief quotations in critical reviews or articles. ISBN: 0-945466-19-6 CONTENTS PREFACE, BY JOANN ROTHBARD ................................................................ vii HANS F. SENNHOLZ ...................................................................................... 1 RALPH RAIco ................................................................................................ 2 RON PAUL ..................................................................................................... 5 RICHARD VEDDER .................•.........•............................................................. 7 ROCER W. GARRISON .................................................................................. 13 WALTER BLOCK ........................................................................................... 19 MARTIN ANDERSON •.•.....................................•........................................... 26 MARK THORNTON ..................................................................•.................... 27 JAMES GRANT .............................................................................................. 29 PETER G. KLEIN ......................................................................................... -
Nber Working Paper Series Banking Crises
NBER WORKING PAPER SERIES BANKING CRISES: AN EQUAL OPPORTUNITY MENACE Carmen M. Reinhart Kenneth S. Rogoff Working Paper 14587 http://www.nber.org/papers/w14587 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 December 2008 The authors are grateful to Vincent Reinhart, Keyu Jin, Tarek Hassan, Vania Stavrakeva for useful comments and suggestions on an earlier draft, and to Cesar Sosa, Chenzi Xu and Jan Zilinsky for excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by Carmen M. Reinhart and Kenneth S. Rogoff. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Banking Crises: An Equal Opportunity Menace Carmen M. Reinhart and Kenneth S. Rogoff NBER Working Paper No. 14587 December 2008 JEL No. E6,F3,N0 ABSTRACT The historical frequency of banking crises is quite similar in high- and middle-to-low-income countries, with quantitative and qualitative parallels in both the run-ups and the aftermath. We establish these regularities using a unique dataset spanning from Denmark's financial panic during the Napoleonic War to the ongoing global financial crisis sparked by subprime mortgage defaults in the United States. Banking crises dramatically weaken fiscal positions in both groups, with government revenues invariably contracting, and fiscal expenditures often expanding sharply. -
Mystery of Banking.Pdf
The Mystery of Banking Murray N. Rothbard The Mystery of Banking Murray N. Rothbard Richardson & Snyder 1983 First Edition The Mystery of Banking ©1983 by Murray N. Rothbard Library of Congress in publication Data: 1. Rothbard, Murray N. 2. Banking 16th Century-20th Century 3. Development of Modern Banking 4. Types of Banks, by Function, Bank Fraud and Pitfalls of Banking Systems 5. Money Supply. Inflation 1 The Mystery of Banking Murray N. Rothbard Contents Chapter I Money: Its Importance and Origins 1 1. The Importance of Money 1 2. How Money Begins 3 3. The Proper Qualifies of Money 6 4. The Money Unit 9 Chapter II What Determines Prices: Supply and Demand 15 Chapter III Money and Overall Prices 29 1. The Supply and Demand for Money and Overall Prices 29 2. Why Overall Prices Change 36 Chapter IV The Supply of Money 43 1. What Should the Supply of Money Be? 44 2. The Supply of Gold and the Counterfeiting Process 47 3. Government Paper Money 51 4. The Origins of Government Paper ,Money 55 Chapter V The Demand for Money 59 1. The Supply of Goods and Services 59 2. Frequency of Payment 60 3. Clearing Systems 63 4. Confidence in the Money 65 5. Inflationary or Deflationary Expectations 66 Chapter VI Loan Banking 77 Chapter VII Deposit Banking 87 1. Warehouse Receipts 87 2. Deposit Banking and Embezzlement 91 2 The Mystery of Banking Murray N. Rothbard 3. Fractional Reserve Banking 95 4. Bank Notes and Deposits 103 Chapter VIII Free Banking and The Limits on Bank Credit Inflation 111 Chapter X Central Banking: Determining Total Reserves 143 1. -
Jekyll Island National Historic District
Form No. 10-300 (Rev. 10-74) UNITED STATES DEPARTMENT OF THE INTERIOR NATIONAL PARK SERVICE NATIONAL REGISTER OF HISTORIC PLACES INVENTORY « NOMINATION FORM SEE INSTRUCTIONS IN HOW TO COMPLETE NATIONAL REGISTER FORMS TYPE ALL ENTRIES - COMPLETE APPLICABLE SECTIONS I NAME HISTORIC Jekyll Island Historic District AND/OR COMMON LOCATION STREETS NUMBER Between Riverview Dr. § Old Villiage Blvd^Nor FOR PUBLICATION CITY. TOWN CONGRESSIONAL DISTRICT Jekyll Island — VICINITY OF 1st STATE CODE COUNTY CODE Georgia 13 Glynn 127 HCLASSIFICATION CATEGORY OWNERSHIP STATUS PRESENT USE V _LDISTRICT <LpUBLIC _ OCCUPIED _ AGRICULTURE ^MUSEUM __BUILDING(S) —PRIVATE —UNOCCUPIED —COMMERCIAL ^_PARK —STRUCTURE —BOTH _WORK IN PROGRESS —EDUCATIONAL —PRIVATE RESIDENCE —SITE PUBLIC ACQUISITION ACCESSIBLE —ENTERTAINMENT —RELIGIOUS —OBJECT —IN PROCESS -1±YES: RESTRICTED —GOVERNMENT —SCIENTIFIC —BEING CONSIDERED —YES: UNRESTRICTED —INDUSTRIAL —TRANSPORTATION _NO —MILITARY —OTHER: QOWNER OF PROPERTY NAME Jekyll Island State Park Authority STREET & NUMBER 214 Trinity-Washington Building CITY, TOWN STATE Atlanta _ VICINITY OF Georgia ULOCATION OF LEGAL DESCRIPTION COURTHOUSE, REGISTRY OF DEEDS, ETC. Jekvl 1 T<?1flT1rl ^i-fft-t* Pa-rV An* >>r»-K»-i -t-\r v^cis.j' j. j. <L«3 J. culU. OCclLC JrclXJx rVULflOilLy STREETS. NUMBER 214 Trinity-Washington Building CITY, TOWN " STATE Atlanta Georgia Q REPRESENTATION IN EXISTING SURVEYS TITLE None DATE —FEDERAL _STATE —COUNTY —LOCAL DEPOSITORY FOR SURVEY RECORDS CITY, TOWN STATE DESCRIPTION CONDITION CHECK ONE CHECK ONE —EXCELLENT —DETERIORATED —UNALTERED —ORIGINAL SITE _GOOD —RUINS _ALTERED —MOVED DATE_______ _FAIR —UNEXPOSED ———————————DESCRIBETHE PRESENT AND ORIGINAL (IF KNOWN) PHYSICAL APPEARANCE The village is comprised of 240 acres on the western shores of Jekyll Island in a beautiful setting of live oaks. -
Has Fractional-Reserve Banking Really Passed the Market Test?
SUBSCRIBE NOW AND RECEIVE CRISIS AND LEVIATHAN* FREE! “The Independent Review does not accept “The Independent Review is pronouncements of government officials nor the excellent.” conventional wisdom at face value.” —GARY BECKER, Noble Laureate —JOHN R. MACARTHUR, Publisher, Harper’s in Economic Sciences Subscribe to The Independent Review and receive a free book of your choice* such as the 25th Anniversary Edition of Crisis and Leviathan: Critical Episodes in the Growth of American Government, by Founding Editor Robert Higgs. This quarterly journal, guided by co-editors Christopher J. Coyne, and Michael C. Munger, and Robert M. Whaples offers leading-edge insights on today’s most critical issues in economics, healthcare, education, law, history, political science, philosophy, and sociology. Thought-provoking and educational, The Independent Review is blazing the way toward informed debate! Student? Educator? Journalist? Business or civic leader? Engaged citizen? This journal is for YOU! *Order today for more FREE book options Perfect for students or anyone on the go! The Independent Review is available on mobile devices or tablets: iOS devices, Amazon Kindle Fire, or Android through Magzter. INDEPENDENT INSTITUTE, 100 SWAN WAY, OAKLAND, CA 94621 • 800-927-8733 • [email protected] PROMO CODE IRA1703 CONTROVERSY Has Fractional-Reserve Banking Really Passed the Market Test? —————— ✦ —————— J. G. HÜLSMANN he theory of free banking has experienced a great renaissance in recent years. The authors of many articles, books, and doctoral dissertations have made T the case for the possibility and suitability of a purely private or competitive banking system. Virtually all these works were inspired by some variant of Austrian economics, which is no surprise, because Austrians tend to analyze institutional arrangements without any a priori bias in favor of government solutions.