Table of Contents

Preface
Acknowledgments
Introduction
• Volume 1 •
1 The Critical Period, 1783–1789
—Sean P. Harvey
The Critical Period, 1783–1789: Short Entries
—Katherine Fleming
Articles of Confederation
Bank of North America
Beard, Charles (1874–1948)
China Trade
Fitch, John (1743–1798)
Flatboats
Morris, Robert (1734–1806)
Northwest Ordinance (1787)
Shays' Rebellion (1786–1787)
Tobacco Industry
2 The Embargo Era, 1807–1809
—James R. Sofka
The Embargo Era, 1807–1809: Short Entries
—Katherine Fleming
American Fur Company and the Fur Trade
Burr Conspiracy Cases of 1807
Chesapeake-Leopard Affair (1807)
Embargo Act (1807)
First Bank of the United States
Fulton, Robert (1765–1815)
Gallatin, Albert (1761–1849)
Girard, Stephen (1750–1831)
Non-Intercourse Act (1809)
Orders in Council/Napoleonic Decrees
Whitney, Eli (1765–1825)
3 Panic of 1819
—Brian Bixby
Panic of 1819: Short Entries
—Brian Bixby
American System
Astor, John Jacob (1763–1848)
Boston Manufacturing Company
Carey, Mathew (1760–1839)
Erie Canal
Internal Improvements
Jones, William (1760–1831)
McCulloch v. Maryland (1819)
National Road
Second Bank of the United States
4 Panic of 1837
—Brian Bixby
Panic of 1837: Short Entries
—Brian Bixby
Brook Farm
Caroline Affair (1837)
Deere, John (1804–1886)
Gag Rule
Independent Treasury
Loco-focos
Lovejoy, Elijah Parish (1802–1837)
Lowell Mills
Specie Circular (1836)
Texas
5 Panic of 1857
—Michael Shapiro
Panic of 1857: Short Entries
Clipper Ships
—Andrew T. Presti
De Bow's Review
—Andrew T. Presti
Dred Scott Decision (Dred Scott v. Sandford) (1857)
—Andrew T. Presti
"Free Soil"
—A. E. L. Martin
Helper, Hinton Rowan (1829–1909)
—Andrew T. Presti
Kelly, William (1811–1888)
—Andrew T. Presti
Lynn Shoe Workers Strike (1860)
—Andrew T. Presti
Oil Creek, Pennsylvania
—Andrew T. Presti
Walker, William (1824–1860)
—Andrew T. Presti
6 Panic of 1873
—Alan Lucibello
Panic of 1873: Short Entries
—Brian Bixby
Centennial Exposition (1876)
Colfax, Schuyler (1823–1885)
Compromise of 1877
Cooke, Jay (1821–1905)
"Crime of '73"
Great Strike of 1877
Molly Maguires
Rockefeller, John D. (1839–1937)
Slaughterhouse Cases (1873)
Whiskey Ring
7 Depression of the 1890s
—Gerald W. McFarland
Depression of the 1890s: Short Entries
—Brian Bixby
Coxey's Army (1894)
"Cross of Gold" Speech (1896)
Frick, Henry Clay (1849–1919)
Homestead Strike (1892)
In Re Debs (1895)
Lloyd, Henry Demarest (1847–1903)
Olney, Richard (1835–1917)
Plessy v. Ferguson (1896)
Populism
Social Darwinism
8 Panic of 1907
—Brigitte Koenig
Panic of 1907: Short Entries
—Jason Resnikoff
Aldrich-Vreeland Act (1908)
Christianity and the Social Crisis (1907)
Danbury Hatters Case (1908)
"Gentlemen's Agreement" (1907–1908)
Great White Fleet (1907–1909)
Haywood, William Dudley "Big Bill" (1869–1928)
Morgan, J. P. (1837–1913)
Muller v. Oregon (1908)
Roosevelt, Theodore (1858–1919)
Standard Oil Company
9 Economic Downturn of 1913–1914
—Jason Roberts
Economic Downturn of 1913–1914: Short Entries
Bull Moose (Progressive) Party
—Eric Gade
Clayton Antitrust Act (1914)
—Eric Gade
Federal Reserve Act (Glass-Owen Act) (1913)
—Eric Gade
Ford, Henry (1863–1947)
—Eric Gade
Glass, Carter (1858–1946)
—Eric Gade
Industrial Workers of the World (IWW)
—Jason Resnikoff
Pujo Committee (1912–1913)
—Eric Gade
16th Amendment (1913)
—Eric Gade
Taft, William Howard (1857–1930)
—Eric Gade
Woolworth, Frank W. (1852–1919)
—Eric Gade
10 Recession of 1920–1921
—Robert H. Ferrell
Recession of 1920–1921: Short Entries
The Dearborn Independent
—Jason Resnikoff
Garvey, Marcus (1887–1940)
—Jason Resnikoff
Ledoux, Urbain (1874–1941)
—Daniel Leab
McNary, Charles L. (1874–1944)
—Jason Resnikoff
Palmer, A. Mitchell (1872–1936)
—Jason Resnikoff
President's Unemployment Conference (1921)
—A. E. L. Martin
Red Scare (1919–1920)
—Andrew T. Presti
Sacco, Nicola (1891–1927) and Vanzetti, Bartolomeo (1888–1927)
—A. E. L. Martin
• Volume 2 •
11 Great Depression, 1929–1933
—Denise Lynn
Great Depression, 1929–1933: Short Entries
—Jason Roberts
Bank Holiday
Bonus Army (1932)
Cox, James Renshaw (1886–1951)
Mellon, Andrew William (1855–1937)
Meyer, Eugene Isaac (1875–1959)
President's Organization for Unemployment Relief (POUR)
Reconstruction Finance Corporation (RFC)
Reno, Milo (1866–1936)
Smoot-Hawley Tariff (1930)
Unemployed Councils
12 Great Depression, 1933–1939
—Vanessa May
Great Depression, 1933–1939: Short Entries
Alphabet Agencies
—Jason Roberts
Civilian Conservation Corps (CCC)
—Jason Roberts
Eccles, Marriner Stoddard (1890–1977)
—Jason Roberts
Hopkins, Harry Lloyd (1890–1946)
—Jason Roberts
Ickes, Harold Le Claire (1874–1952)
—Jason Roberts
Johnson, Hugh S. (1882–1942)
—Jason Roberts
Kennedy, Joseph Patrick (1888–1969)
—A. E. L. Martin
Lewis, John L. (1880–1969)
—Jason Roberts
Olson, Floyd (1891–1936)
—Jason Roberts
World Economic Conference (1933)
—Jason Roberts
13 Economic Downturns, 1974–1984
—Jason Roberts
Economic Downturns, 1974–1984: Short Entries
—Jason Roberts
Apple Computers
Employee Retirement Income Security Act (ERISA)
Franklin National Bank
Laffer, Arthur B. (1940– )
Professional Air Traffic Controllers Organization (PATCO)
Proposition 13 (People's Initiative to Limit Property Taxation, California) (1978)
Regents of the University of California v. Bakke (1978)
Shultz, George P. (1920– )
Three Mile Island (1979)
Volcker, Paul (1927– )
14 Great Recession of 2008–2009
—Victoria Phillips
Great Recession of 2008–2009: Short Entries
—Kate Doyle Griffiths-Dingani
Auto Industry Bailout (2008–2009)
Geithner, Timothy F. (1961– )
Goldman Sachs
Hedge Funds
Lehman Brothers, Collapse of (2008)
Madoff, Bernard L. (1938– )
Occupy Wall Street (OWS)
Pelosi, Nancy (1940– )
Rubin, Robert (1938– )
Tea Party
Primary Documents
1 The Critical Period, 1783–1789
A. Shays' Rebellion: A Schedule of Grievances (August 22–25, 1786)
B. George Washington and Thomas Jefferson React to Shays' Rebellion (1786, 1787)
C. The Land Ordinance of 1785 (May 20, 1785) and the Northwest Ordinance (July 13, 1787)
D. Objections to the Federal Constitution: Letters from the Federal Farmer to the Republican (October 8, 1787)
E. The Federalist No. 15: Alexander Hamilton's Objections to the Articles of Confederation (December 1, 1787)
F. Alexander Hamilton's First Report on the Public Credit (January 14, 1790)
G. Alexander Hamilton's Opinion on the Constitutionality of the Bank of the United States (1791)
H. Thomas Jefferson's Opinion on the Constitutionality of the Bank of the United States (1791)
2 The Embargo Era, 1807–1809
A. James Stephen's Pamphlet Arguing for Restriction of Neutral Rights (1805)
B. Napoleon's Berlin and Milan Decrees (November 21, 1806; December 17, 1807)
C. British Order in Council (January 7, 1807)
D. Act to Prohibit the Importation of Slaves (March 2, 1807)
E. Report of the Chesapeake's Encounter with the Leopard (June 23, 1807)
F. Embargo Act (December 22, 1807)
G. Secretary Madison's List of Restrictions on Foreign Trade (December 21, 1808)
H. The Non-Intercourse Act (March 1, 1809)
I. Joseph Story's Recollections of His Opposition to the Embargo (1809)
3 Panic of 1819
A. Craig et al. v. Missouri (March 12, 1830)
4 Panic of 1837
A. President Jackson's Bank Veto (July 10, 1832)
B. President Jackson's Message to the Cabinet Regarding Removal of Public Deposits from the Bank of the United States (September 18, 1833)
C. The Specie Circular (July 11, 1836)
D. Charles River Bridge v. Warren Bridge (February 14, 1837)
E. President Van Buren's Message to Congress Opposing Federal Action during Hard Economic Times (September 4, 1837)
F. William Harper's "Memoir on Slavery" (1837)
G. Theodore Weld's American Slavery As It Is: Testimony of a Thousand Witnesses (1839)
5 Panic of 1857
A. Independent Treasury Act (August 6, 1846)
B. Joseph Glover Baldwin's Flush Times (1853)
C. Dred Scott v. Sandford (March 6, 1857)
D. George Fitzhugh's Cannibals All! (1857)
E. Hinton Rowan Helper's The Impending Crisis of the South (1857)
F. Frederick Law Olmsted's The Cotton Kingdom (1861)
6 Panic of 1873
A. Veazie Bank v. Fenno (1869)
B. President Grant's Veto of the Inflation Bill of 1874 (April 22, 1874)
C. Dangers Presented by the Current Management of the Rail System: James Dabney McCabe's History of the Grange Movement (1874)
D. President Grant's Message Approving the Specie Payment Resumption Act (January 14, 1875)
E. Bland-Allison Act (February 28, 1878)
7 Depression of the 1890s
A. Sherman Antitrust Act (July 2, 1890)
B. United States v. Debs et al. (December 14, 1894)
C. President Cleveland's Message to Congress Calling for Action to Restore the Financial Soundness of the Economy (January 28, 1895)
D. William Jennings Bryan's "Cross of Gold" Speech (July 9, 1896)
8 Panic of 1907
A. Adair v. United States (January 27, 1908)
B. Loewe v. Lawlor (February 3, 1908)
9 Economic Downturn of 1913–1914
A. Report of the Pujo Committee (1912–1913)
B. Sixteenth Amendment (February 3, 1913)
C. Federal Reserve Act (December 23, 1913)
10 Recession of 1920–1921
A. United States v. United States Steel Corporation (March 1, 1920)
11 Great Depression, 1929–1933
A. Wickersham Commission Report on Alcohol Prohibition (January 7, 1931)
B. Franklin D. Roosevelt's Commonwealth Club Address (September 23, 1932)
C. President Hoover's Madison Square Garden Address (October 31, 1932)
D. Twentieth Amendment (January 23, 1933)
12 Great Depression, 1933–1939
A. President Roosevelt's First Inaugural Address (March 4, 1933)
B. Senator Long's "Share the Wealth" Program (February 5, 1934)
C. Schechter Poultry Corp. v. United States (May 27, 1935)
D. National Labor Relations Act (Wagner Act) (July 5, 1935)
E. President Roosevelt's Statement upon Signing the Social Security Act (August 14, 1935)
F. President Roosevelt's Forbes Field Speech (October 1, 1936)
13 Economic Downturns, 1974–1984
A. President Nixon's Message Transmitting the 1972 Economic Report of the President to Congress (January 27, 1972)
B. President Ford's Message Transmitting the 1976 Economic Report of the President to Congress (January 26, 1976)
C. President Carter Addresses the Nation on Energy (November 8, 1977)
D. President Carter's State of the Union Address (January 19, 1978)
E. California Proposition 13: The People's Initiative to Limit Property Taxation (Approved June 6, 1978)
F. Full Employment and Balanced Growth Act (Humphrey-Hawkins Full Employment Act) (October 27, 1978)
G. President Carter's "Crisis of Confidence" or "Malaise" Speech (July 15, 1979)
H. President Reagan's Program for Economic Recovery (February 18, 1981)
14 Great Recession of 2008–2009
A. Barack Obama's Victory Speech (November 4, 2008)
B. President Obama's Message Transmitting the 2011 Economic Report of the President to Congress (February 23, 2011)
C. President Obama's Message Transmitting the 2012 Economic Report of the President to Congress (February 17, 2012)
Selected Bibliography
Editor and Contributors
Index

Promotional Information

A riveting look at the financial cycles in American economic history from colonial times to the present day, with an eye on the similarities and differences between past and present conditions as analyzed by leading economic historians.

About the Author

Daniel J. Leab is professor of history at Seton Hall University, South Orange, NJ, where he was director of American studies and founding director of the university's multicultural program.

Reviews

This is a timely volume that should appeal to everyone seeking to understand economic recessions and depressions. . . . Recommended.
*Choice*

This noteworthy set encompasses the 14 largest and most important economic downturns in U.S. history, from the 'Critical Period' following the Revolutionary War to the recent 'Great Recession' of 2008–9. The Encyclopedia of American Recessions and Depressions presents all the wild market fluctuations from American history in readable prose, expansive coverage, and solid scholarship.
*Booklist*

The writers handle complex topics with clarity, and for students in high school or at small colleges the primary works will be extremely useful. However, it's the 'short entries' that raise this above similar references. . . . Recommended.
*Library Journal*

[T]hose in need of the basic facts behind economic downturns that have plagued the United States over the years will find a richly woven tapestry unrolled before them. . . . [T]he kind of writing that makes history come alive. Therefore, this set is recommended for purchase by all public and academic libraries.
*ARBA*

This reviewer finds this encyclopedia fascinating for the information and depth of coverage that it provides about the regularly occurring economic downturns and the regularly recurring reasons for those downturns. . . . The readable style – even with a number of contributors – is also important. The insights provided into our economic history help in our understanding of today's events.
*Reference Reviews*