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The politics of elite anxiety: Carter Glass and American financial policy
Ist Teil von
The Historian (Kingston), 2020-07, Vol.82 (3), p.308-327
Ort / Verlag
Routledge
Erscheinungsjahr
2020
Link zum Volltext
Quelle
Taylor & Francis
Beschreibungen/Notizen
Carter Glass played an important role in every financial question that the U.S. Congress addressed from the Federal Reserve Act through the New Deal. Although Glass is often remembered today as a reformer, he was fundamentally a reactionary whose foremost impulse was ensuring that the banking system remained the instrument of financial elites. He promoted legislation that upheld elite banking interests, and employed a rhetorical framework that denigrated subordinate groups and their allegedly unsound financial ideas. But the Great Depression left the bankers disgraced and discredited orthodoxies that Glass insisted were sacrosanct.