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Financial collapse: 1933

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  • Allan Meltzer

Abstract

Financial collapse in the winter of 1933, culminating in the “bank holiday” of early March, was a climactic event. It ended the downswing phase of the great depression. It produced widespread losses to depositors and owners of bank capital, which, soon after, led to the establishment of the Securities and Exchange Commission, separation of commercial and investment banking, federal deposit insurance, and other landmark financial legislation. It put an end to the gold standard in the U.S., followed in a few years by the remaining adherents of that standard. Copyright International Atlantic Economic Society 2001

Suggested Citation

  • Allan Meltzer, 2001. "Financial collapse: 1933," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 29(1), pages 1-19, March.
    • Handle: RePEc:kap:atlecj:v:29:y:2001:i:1:p:1-19
    DOI: 10.1007/BF02299928
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    References listed on IDEAS

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    1. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
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