The Crash And Its Aftermath: A History Of Securities Markets In The United States, 1929-1933

Hardcover | December 1, 1985

byBarrie A. Wigmore

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This is the first book to focus on the broader structural changes which took place in the financial industry over the full period of decline from the Stock Market Crash in 1929 to the end of President Franklin D. Roosevelt's "One Hundred Days" in 1933. The basis for many of Wigmore's comments is an analysis of 142 leading companies whose stocks constituted approximately 77 percent of the market value of all New York Stock Exchange stocks. Wigmore also examines the various bond markets and relates the money market to the bond market, monetary policy, business conditions, and the problems of the banking system. Treating each year from 1929 to 1933 separately, Wigmore shows the interrelation between the stock, bond, and money markets and events in politics, the economy, international trade and finance, and monetary policy. The Statistical Appendix of 41 tables consolidates financial statistics which have hitherto been widely dispersed, permitting in-depth study.

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This is the first book to focus on the broader structural changes which took place in the financial industry over the full period of decline from the Stock Market Crash in 1929 to the end of President Franklin D. Roosevelt's "One Hundred Days" in 1933. The basis for many of Wigmore's comments is an analysis of 142 leading companies who...

Format:HardcoverDimensions:731 pages, 9.54 × 6.4 × 1.61 inPublished:December 1, 1985Publisher:GREENWOOD PRESS INC.

The following ISBNs are associated with this title:

ISBN - 10:0313245746

ISBN - 13:9780313245749

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?In this large volume Wigmore analyzes the infamous 1929 stock market crash and the subsequent depression in the US from 1929 through 1933. The focus is on the role of banks and the turbulent behavior of the securities' markets, but the author includes interesting and relevant discussion of both US and foreign government attempts to contain this collapse of economic activity. The detailed study (year by year, sector by sector, and market by market) supports one clear and convincing thesis: The "Great Depression" was not caused by faulty monetary policy, but was the result of fundamental imbalances and speculation on real goods and services as well as financial markets. Contributing to the debacle were attempts to set unrealistic exchange rates and allowing the disequilibrium to grow between international and domestic markets. Political goals and policies incompatible with reality were situations that no monetary policy could remedy; security markets simply reflected that state of affairs...a valuable source of data and analysis.??CHOICE