Jump to ContentJump to Main Navigation
Central Banks and GoldHow Tokyo, London, and New York Shaped the Modern World$
Users without a subscription are not able to see the full content.

Simon James Bytheway and Mark Metzler

Print publication date: 2016

Print ISBN-13: 9781501704949

Published to Cornell Scholarship Online: May 2017

DOI: 10.7591/cornell/9781501704949.001.0001

Show Summary Details
Page of

PRINTED FROM Cornell University Press SCHOLARSHIP ONLINE (www.cornell.universitypressscholarship.com). (c) Copyright University of Cornell University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in Cornell for personal use (for details see www.cornell.universitypressscholarship.com/page/privacy-policy/privacy-policy-and-legal-notice).date: 22 January 2019

World War and Globalization

World War and Globalization

Chapter:
(p.28) 2 World War and Globalization
Source:
Central Banks and Gold
Author(s):

Simon James Bytheway

Mark Metzler

Publisher:
Cornell University Press
DOI:10.7591/cornell/9781501704949.003.0003

This chapter examines how central bank cooperation became a multilateral enterprise during the opening weeks of the First World War. It was the Bank of England that took the initiative to establish a network of Allied central banks. The US Federal Reserve System was framed in 1913 and went into operation shortly after the war began in Europe. The Federal Reserve Bank of New York (FRBNY) also joined the Allied central bank network as soon as it could, well before the US government entered the war. In early 1915, backed by the FRBNY, US private banks began to finance the enormous military purchasing programs run by the British and French governments in the United States.

Keywords:   central bank cooperation, First World War, Bank of England, Allied central banks, US Federal Reserve System, Federal Reserve Bank of New York

Cornell Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.