321 “any longer intend to be”: Bierman, The Great Myths of 1929, 78.
321 Harrison urged Norman: Hamlin Diary, February 11, 1929, quoted in Bierman, The Great Myths of 1929, 105, n. 11.
321 “to have the stock market fall”: Josephson, Infidel in the Temple, 22.
321 Once the speculative fever: Harrison Memorandum, “Conversations with Federal Reserve Board: February 5, 1929,” quoted in Clarke, Central Bank Cooperation, 152.
321 “lived and breathed”: Hamlin Diary, March 5, 1929, Library of Congress; “Memorandum on conversation with Governor Young: March 6, 1929,” Goldenweiser Papers, Library of Congress, quoted in Clarke, Central Bank Cooperation, 157.
322 “If buying and selling stocks”: “The War Against Wall Street Speculation,” The Literary Digest, April 13, 1929.
322 “the hardest time in America”: Letter from Peacock to Revelstoke, February 18, 1929, quoted in Kynaston, The City of London: Illusions of Gold, 157.
322 “an even deeper feeling”: Letter from Norman to European Central Bankers, February 21, 1929, quoted in Clay, Lord Norman, 249.
322 Over the next three months: Friedman and Schwartz, A Monetary History, 259.
324 Even Adolph Miller: Hamlin Diary, January 3, 1929, quoted in Wueschner, Charting Twentieth-Century Monetary Policy, 153.
325 “The French have always had”: McNeil, American Money and the Weimar Republic, 228.
325 Under the Dawes Plan schedule: Under the Dawes Plan, reparations were supposed to increase according to a “prosperity index,” calculated based on trends in foreign trade, the budget, coal production, railway traffic, consumption of sugar, tobacco, and beer and spirit. While the increase in payments was potentially indefinite, most people worked on the calculation that the annual tribute would settle somewhere around $700 million.
326 “with a mixture of awkwardness”: McNeil, American Money and the Weimar Republic, 228.
327 “nothing but work ”: McNeil, American Money and the Weimar Republic, 228
327 Government officials: Bennett, Germany and the Diplomacy of the Financial Crisis, 5.
327 “the new German Kaiser”: “69,” Time, February 6, 1929.
327 “without the normal incentive”: Annual Report of Agent General for Reparations, 1927, quoted in Eyck, A History of the Weimar Republic, 2: 174.
329 “was dancing on a volcano”: Stresemann Note on Meeting with Parker Gilbert, November 13, 1928, in Stresemann, Diaries, Letters and Papers, 2: 406.
329 It came as an ill omen: “Europe’s Cold Snap Worst in Centuries,” New York Times, February 12, 1929; “100 Die in Europe as Cold Holds Grip,” New York Times, February 13, 1929; “Freezing Europe Faces Cold Famine,” New York Times, February 14, 1929.
330 Marthe Hanau was a forty-two-year-old: Janet Flanner, “Annals of Finance: The Swindling Presidente,” the New Yorker, August 26 and September 2, 1939.
332 “lengthy, tiresome”: Ziegler, The Sixth Great Power, 357.
332 “a vehement, intolerant man”: Huddleston, In My Time, 256.
332 “tantrums and exhibitionism”: Leith-Ross, Money Talks, 119.
332 “hatchet, Teuton face,” “like a steel trap”: Ziegler, The Sixth Great Power, 356-57.
332 “If Hell is anything like Paris”: Klingaman, 1929: The Year of the Crash, 163.
332 The German delegates: Kopper, Hjalmar Schacht, 146.
334 Schacht’s proposal was initially received: Stuart Crocker Memoirs, quoted in Jacobson, Locarno Diplomacy, 257.
334 Pierre Quesnay: Stuart Crocker Memoirs, quoted in Jacobson, Locarno Diplomacy, 265.
337 “You ought never to have signed”: Schacht, My First Seventy-six Years, 247.
337 “The crisis may have been”: Kopper, Hjalmar Schacht, 154.