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100% Money

Consulting Editor James Tobin

In the autumn of 1933, Fisher had applauded Franklin D. Roosevelt’s attempts to “reflate” the economy by raising the price of gold. He was dismayed, however, when the President called a halt to the gold purchase program at the end of January 1934. In Fisher’s judgment, the necessary task of “reflation” had been only partially done. (See the documentation of Fisher-Roosevelt correspondence for this period collected in Volume 14.) Additional monetary interventions were thus in order.

Volume Contents

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    Front Matter
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    Editorial Introduction with Selected Documents By William J. Barber; Irving Fisher
  • 100% Money By Irving Fisher
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      Prelims
    • A Short Outline
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        I
        Summary in Advance
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        II
        Outlines for a Statute
    • How the 100% System Would Work
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        III
        The Reserve Problem
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        IV
        How the 100% System Would Work as to Deposits
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        V
        How the 100% System Would Work as to Loans
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        VI
        How Money Management Would Work Under the 100% System
    • The Significance of the 100% System
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        VII
        Booms and Depressions
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        VIII
        Significance to Business
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        IX
        Significance to Banking
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        X
        Unjustified Ideas in Business and Banking
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        XI
        Significance to Government
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      Appendix I: Bibliography
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      Appendix II: Comments of Two Bankers
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      Appendix III: Bankers Often Oppose Their Own Interests
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      Appendix IV: Amendments to the Banking Act of 1935
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      Appendix V: Professor Angell on the 100% Idea
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      Index
  • Editorial Postscript with Selected Documents
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      Editorial Postscript By William J. Barber; Irving Fisher
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      Answers to Objections to the 100% Plan By Irving Fisher