Birth of a market :: the U.S. Treasury securities market from the Great War to the Great Depression /
The market for U.S. Treasury securities is a marvel of modern finance. In 2009 the Treasury auctioned #8.2 trillion of new securities, ranging from 4-day bills to 30-year bonds, in 283 offerings on 171 different days. By contrast, in the decade before World War I, there was only about #1 billion of...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass. :
MIT Press,
©2012.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The market for U.S. Treasury securities is a marvel of modern finance. In 2009 the Treasury auctioned #8.2 trillion of new securities, ranging from 4-day bills to 30-year bonds, in 283 offerings on 171 different days. By contrast, in the decade before World War I, there was only about #1 billion of interest-bearing Treasury debt outstanding, spread out over just six issues. New offerings were rare, and the debt was narrowly held, most of it owned by national banks. In Birth of a Market, Kenneth Garbade traces the development of the Treasury market from a financial backwater in the years before World War I to a multibillion dollar market on the eve of World War II. Garbade focuses on Treasury debt management policies, describing the origins of several pillars of modern Treasury practice, including "regular and predictable" auction offerings and the integration of debt and cash management. He recounts the actions of Secretaries of the Treasury, from William McAdoo in the Wilson administration to Henry Morgenthau in the Roosevelt administration, and their responses to economic conditions. Garbade's account covers the Treasury market in the two decades before World War I, how the Treasury financed the Great War, how it managed the postwar refinancing and paydowns, and how it financed the chronic deficits of the Great Depression. He concludes with an examination of aspects of modern Treasury debt management that grew out of developments from 1917 to 1939 |
| Beschreibung: | 1 online resource (viii, 393 pages) : illustrations |
| Bibliographie: | Includes bibliographical references (pages 371-379) and index. |
| ISBN: | 9780262298674 0262298678 |
Internformat
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| 100 | 1 | |a Garbade, Kenneth D. |0 http://id.loc.gov/authorities/names/n81033004 | |
| 245 | 1 | 0 | |a Birth of a market : |b the U.S. Treasury securities market from the Great War to the Great Depression / |c Kenneth D. Garbade. |
| 260 | |a Cambridge, Mass. : |b MIT Press, |c ©2012. | ||
| 300 | |a 1 online resource (viii, 393 pages) : |b illustrations | ||
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| 504 | |a Includes bibliographical references (pages 371-379) and index. | ||
| 505 | 0 | |a Introduction -- The payments system before World War I -- Treasury debt management before World War I -- Treasury finance during World War I -- Designing the liberty loans -- Marketing the liberty loans -- Treasury cash management : certificates of indebtedness -- Treasury cash management : war loan deposit accounts -- Federal Reserve support of the treasury market during World War I -- Coda on treasury debt management during World War I -- Treasury finance during the 1920s -- Paying down the war debt -- Revival of the over-the-counter market -- Evolution of the primary market and the introduction of treasury bills -- Coda on treasury debt management during the 1920s -- Treasury finance during the Great Depression -- Non-marketable treasury debt -- Treasury debt management during the Great Contraction -- Treasury debt management during the New Deal -- The primary market during the Great Depression -- Statutory control of treasury indebtedness -- The brief revival and subsequent extinction of national bank notes -- Coda on treasury debt management during the Great Depression -- Treasury debt management since 1939. | |
| 588 | 0 | |a Print version record. | |
| 520 | 8 | |a The market for U.S. Treasury securities is a marvel of modern finance. In 2009 the Treasury auctioned #8.2 trillion of new securities, ranging from 4-day bills to 30-year bonds, in 283 offerings on 171 different days. By contrast, in the decade before World War I, there was only about #1 billion of interest-bearing Treasury debt outstanding, spread out over just six issues. New offerings were rare, and the debt was narrowly held, most of it owned by national banks. In Birth of a Market, Kenneth Garbade traces the development of the Treasury market from a financial backwater in the years before World War I to a multibillion dollar market on the eve of World War II. Garbade focuses on Treasury debt management policies, describing the origins of several pillars of modern Treasury practice, including "regular and predictable" auction offerings and the integration of debt and cash management. He recounts the actions of Secretaries of the Treasury, from William McAdoo in the Wilson administration to Henry Morgenthau in the Roosevelt administration, and their responses to economic conditions. Garbade's account covers the Treasury market in the two decades before World War I, how the Treasury financed the Great War, how it managed the postwar refinancing and paydowns, and how it financed the chronic deficits of the Great Depression. He concludes with an examination of aspects of modern Treasury debt management that grew out of developments from 1917 to 1939 | |
| 650 | 0 | |a Government securities |z United States |x History. | |
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Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-4-EBU-ocn774956266 |
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| adam_text | |
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| author | Garbade, Kenneth D. |
| author_GND | http://id.loc.gov/authorities/names/n81033004 |
| author_facet | Garbade, Kenneth D. |
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| contents | Introduction -- The payments system before World War I -- Treasury debt management before World War I -- Treasury finance during World War I -- Designing the liberty loans -- Marketing the liberty loans -- Treasury cash management : certificates of indebtedness -- Treasury cash management : war loan deposit accounts -- Federal Reserve support of the treasury market during World War I -- Coda on treasury debt management during World War I -- Treasury finance during the 1920s -- Paying down the war debt -- Revival of the over-the-counter market -- Evolution of the primary market and the introduction of treasury bills -- Coda on treasury debt management during the 1920s -- Treasury finance during the Great Depression -- Non-marketable treasury debt -- Treasury debt management during the Great Contraction -- Treasury debt management during the New Deal -- The primary market during the Great Depression -- Statutory control of treasury indebtedness -- The brief revival and subsequent extinction of national bank notes -- Coda on treasury debt management during the Great Depression -- Treasury debt management since 1939. |
| ctrlnum | (OCoLC)774956266 |
| dewey-full | 332.63/2420973 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.63/2420973 |
| dewey-search | 332.63/2420973 |
| dewey-sort | 3332.63 72420973 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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In 2009 the Treasury auctioned #8.2 trillion of new securities, ranging from 4-day bills to 30-year bonds, in 283 offerings on 171 different days. By contrast, in the decade before World War I, there was only about #1 billion of interest-bearing Treasury debt outstanding, spread out over just six issues. New offerings were rare, and the debt was narrowly held, most of it owned by national banks. In Birth of a Market, Kenneth Garbade traces the development of the Treasury market from a financial backwater in the years before World War I to a multibillion dollar market on the eve of World War II. Garbade focuses on Treasury debt management policies, describing the origins of several pillars of modern Treasury practice, including "regular and predictable" auction offerings and the integration of debt and cash management. He recounts the actions of Secretaries of the Treasury, from William McAdoo in the Wilson administration to Henry Morgenthau in the Roosevelt administration, and their responses to economic conditions. Garbade's account covers the Treasury market in the two decades before World War I, how the Treasury financed the Great War, how it managed the postwar refinancing and paydowns, and how it financed the chronic deficits of the Great Depression. 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| genre_facet | History |
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| illustrated | Illustrated |
| indexdate | 2024-11-26T14:49:04Z |
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| isbn | 9780262298674 0262298678 |
| language | English |
| oclc_num | 774956266 |
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| spelling | Garbade, Kenneth D. http://id.loc.gov/authorities/names/n81033004 Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / Kenneth D. Garbade. Cambridge, Mass. : MIT Press, ©2012. 1 online resource (viii, 393 pages) : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file Includes bibliographical references (pages 371-379) and index. Introduction -- The payments system before World War I -- Treasury debt management before World War I -- Treasury finance during World War I -- Designing the liberty loans -- Marketing the liberty loans -- Treasury cash management : certificates of indebtedness -- Treasury cash management : war loan deposit accounts -- Federal Reserve support of the treasury market during World War I -- Coda on treasury debt management during World War I -- Treasury finance during the 1920s -- Paying down the war debt -- Revival of the over-the-counter market -- Evolution of the primary market and the introduction of treasury bills -- Coda on treasury debt management during the 1920s -- Treasury finance during the Great Depression -- Non-marketable treasury debt -- Treasury debt management during the Great Contraction -- Treasury debt management during the New Deal -- The primary market during the Great Depression -- Statutory control of treasury indebtedness -- The brief revival and subsequent extinction of national bank notes -- Coda on treasury debt management during the Great Depression -- Treasury debt management since 1939. Print version record. The market for U.S. Treasury securities is a marvel of modern finance. In 2009 the Treasury auctioned #8.2 trillion of new securities, ranging from 4-day bills to 30-year bonds, in 283 offerings on 171 different days. By contrast, in the decade before World War I, there was only about #1 billion of interest-bearing Treasury debt outstanding, spread out over just six issues. New offerings were rare, and the debt was narrowly held, most of it owned by national banks. In Birth of a Market, Kenneth Garbade traces the development of the Treasury market from a financial backwater in the years before World War I to a multibillion dollar market on the eve of World War II. Garbade focuses on Treasury debt management policies, describing the origins of several pillars of modern Treasury practice, including "regular and predictable" auction offerings and the integration of debt and cash management. He recounts the actions of Secretaries of the Treasury, from William McAdoo in the Wilson administration to Henry Morgenthau in the Roosevelt administration, and their responses to economic conditions. Garbade's account covers the Treasury market in the two decades before World War I, how the Treasury financed the Great War, how it managed the postwar refinancing and paydowns, and how it financed the chronic deficits of the Great Depression. He concludes with an examination of aspects of modern Treasury debt management that grew out of developments from 1917 to 1939 Government securities United States History. Investments United States History. Effets publics États-Unis Histoire. Investissements États-Unis Histoire. BUSINESS & ECONOMICS Investments & Securities Real Estate. bisacsh BUSINESS & ECONOMICS Economic History. bisacsh Government securities fast Investments fast United States fast https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq ECONOMICS/Economic History ECONOMICS/Finance History fast has work: Birth of a market (Text) https://id.oclc.org/worldcat/entity/E39PCFGq4wcFJB8HT6XvfmkFKd https://id.oclc.org/worldcat/ontology/hasWork Print version: Garbade, Kenneth D. Birth of a market. Cambridge, Mass. : MIT Press, ©2012 9780262016377 (DLC) 2011011785 (OCoLC)751832175 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=430304 Volltext |
| spellingShingle | Garbade, Kenneth D. Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / Introduction -- The payments system before World War I -- Treasury debt management before World War I -- Treasury finance during World War I -- Designing the liberty loans -- Marketing the liberty loans -- Treasury cash management : certificates of indebtedness -- Treasury cash management : war loan deposit accounts -- Federal Reserve support of the treasury market during World War I -- Coda on treasury debt management during World War I -- Treasury finance during the 1920s -- Paying down the war debt -- Revival of the over-the-counter market -- Evolution of the primary market and the introduction of treasury bills -- Coda on treasury debt management during the 1920s -- Treasury finance during the Great Depression -- Non-marketable treasury debt -- Treasury debt management during the Great Contraction -- Treasury debt management during the New Deal -- The primary market during the Great Depression -- Statutory control of treasury indebtedness -- The brief revival and subsequent extinction of national bank notes -- Coda on treasury debt management during the Great Depression -- Treasury debt management since 1939. Government securities United States History. Investments United States History. Effets publics États-Unis Histoire. Investissements États-Unis Histoire. BUSINESS & ECONOMICS Investments & Securities Real Estate. bisacsh BUSINESS & ECONOMICS Economic History. bisacsh Government securities fast Investments fast |
| title | Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / |
| title_auth | Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / |
| title_exact_search | Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / |
| title_full | Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / Kenneth D. Garbade. |
| title_fullStr | Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / Kenneth D. Garbade. |
| title_full_unstemmed | Birth of a market : the U.S. Treasury securities market from the Great War to the Great Depression / Kenneth D. Garbade. |
| title_short | Birth of a market : |
| title_sort | birth of a market the u s treasury securities market from the great war to the great depression |
| title_sub | the U.S. Treasury securities market from the Great War to the Great Depression / |
| topic | Government securities United States History. Investments United States History. Effets publics États-Unis Histoire. Investissements États-Unis Histoire. BUSINESS & ECONOMICS Investments & Securities Real Estate. bisacsh BUSINESS & ECONOMICS Economic History. bisacsh Government securities fast Investments fast |
| topic_facet | Government securities United States History. Investments United States History. Effets publics États-Unis Histoire. Investissements États-Unis Histoire. BUSINESS & ECONOMICS Investments & Securities Real Estate. BUSINESS & ECONOMICS Economic History. Government securities Investments United States History |
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