Lords of Finance
480 “Your movement is carried internally”: Letter from Schacht to Hitler, August 29, 1932, in Office of the Counsel for Prosecution of Axis Criminality, Nazi Conspiracy and Aggression, Vol VII, Washington D.C.: Government Printing Office, 1946, 512-14.
480 “the only man fit”: “Hitler Holds Back Decision on Cabinet as Aides Disagree,” New York Times, November 23, 1932.
481 “a man of quite astonishing ability”: Hitler, Hitler’s Secret Conversations, 350.
481 The recovery was not quite the miracle: This section draws heavily on Tooze, The Wages of Destruction, 37-43, and Evans, The Third Reich in Power, 322-77.
482 “The whole modern world is crazy”: Dodd and Dodd, Ambassador Dodd’s Diary, 175.
485 “Don’t forget what desperate straits”: Gilbert, Nuremburg Diary, 153-54.
485 In the lead-up to the trial: Overy, Interrogations, 73.
485 “like an angry walrus”: Dos Passos, Tour of Duty, 301.
485 “twisted in his seat”: West, A Train of Powder, 5.
487 “They were wrong about reparations”: Kynaston, The City of London: Illusions of Gold, 373-74.
487 “old gentlemen complaining”: Williams, A Pattern of Rulers, 221.
488 “Hitler and Schacht”: Memo from Leffingwell to Lamont, July 25, 1934, quoted in Chernow, The House of Morgan, 398.
488 “If this struggle goes on”: Goodwin, The Fitzgeralds and the Kennedys, 687.
489 “As I look back”: Boyle, Montagu Norman, 327-28.
490 During the 1930s, Keynes’s speculative activities: Skousen, “Keynes as a Speculator,” 162, and Moggridge, Maynard Keynes, 585.
491 “I do enjoy these lunches”: Sayers, The Bank of England, 602.
492 “the unpleasantest man in Washington”: Skidelsky, John Maynard Keynes: Fighting for Britain, p. 260.
492 “he has not the faintest conception”: Keynes, Letter to Wilfrid Eady, October 3, 1943, in Collected Writings, Vol. XXV, pp. 352-57.
494 “The flow of alcohol is appalling”: Cassidy, John .“The New World Disorder,” New Yorker, October 26, 1998, p 198.
494 “madhouse with most people”: Skidelsky, John Maynard Keynes: Fighting for Britain, p. 347.
495 “If we can so continue”: Skidelsky, John Maynard Keynes: Fighting for Britain, p 355.
23: EPILOGUE
497 I have yet to see any problem: Poul Anderson quote from The Yale Book of Quotations, 19.
503 “his policies died with him”: U.S. House of Representatives, Banking Act of 1935, Committee on Banking and Currency, 74 Congress, Ist Sess. 1935.
503 “problems of life”: Keynes, “Preface” in Collected Writings: Essays in Persuasion. 9: xviii.
503 “trustees, not of civilization”: Harrod, The Life of John Maynard Keynes, 193-94.
BIBLIOGRAPHY
The bibliography includes not only works referred to in the text but also a selected list of books and articles on the economic history of the period that I have found useful in my research. The interpretation of the causes of the Great Depression set out here is eclectic. Nevertheless, my thinking has been framed by four books in particular: the classic by Milton Friedman and Anna Schwartz, A Monetary History of the United States 1857-1960, which highlights the dysfunctional policies and decision m
aking at the Fed; the 1973 book by Charles Kindelberger, The World in Depression , one of the early contemporary books to focus on the global dimension of the economic collapse; and the works of Peter Temin and Barry Eichengreen, especially Temin’s Lessons from the Great Depression and Eichengreen’s Golden Fetters, which identify the gold standard as the chief culprit for transmitting depression around the world.
ACAMPORA, RALPH. The Fourth Mega-Market. New York: Hyperion, 2000.