关键词：
FEDERAL government
HISTORY
BANKING industry -- United States
UNITED States
POLITICS & government
摘要：
This Note"s major assertion is that, contrary to the traditional scholar- ly account, the Glass-Steagall Act of 1933 as shaped by the Vandenberg Amendment represented a fundamental change to the American banking structure. The choice in 1933 was the same as the one in 1791: How should the values and structure of American republican federalism be engrafted onto the banking system? The Glass-Steagall Act reversed the decision made in 1791 by rejecting competitive dual federalism in favor of cooperative federalism. This Note focuses on the period from 1791 to 1933 and particularly on Glass, Steagall, Vandenberg, and the Glass- Steagall Act of 1933, because that was the time during which the rela- tionship between federalism and banking was determined, tested, and re- formulated, and the actions of those individuals capture that story. Carter Glass and Henry Steagall typified the broader ideologies that drove the struggle between federal and state banks, and Arthur Vanden- berg represented the compromise that eventually resolved the contest. Glass became the standard-bearer for federal unification, carrying for- ward the well-established, constitutionally supported position of the First Bank of the United States and the reasoning of the holdings in McCulloch and Veazie Bank, through his Federal Reserve Act and Glass bill. Steagall emerged as the Populist product of the state experiments with deposit insurance from 1909 to 1923 and personified state-centric unit banking"s bold, innovative challenge to federal banking preemi- nence. Finally, Vandenberg introduced a modern version of Alexander Hamilton"s conception of cooperative federalism banking. These ideolo- gies, however, did not begin with Glass, Steagall, and Vandenberg, and they did not disappear with them either. The question of which model of republican federalism should be applied to American banking is not time-bound, and the answer is as relevant today as it was in 1791 and 1933.
欢迎来到三峡大学图书馆！
详细信息
中文科技期刊
