Interregional Financial Intergration and the Banknote Market: The Old Northwest, 1815–1845

1 June 1988

journal article
Published by Cambridge University Press (CUP) in The Journal of Economic History

Vol. 48 (2) , 287-298
https://doi.org/10.1017/s0022050700004903

Abstract

I study the changing role of the banknote market in interregional financial arrangements of the antebellum American economy, using the Old Northwest as a case study. On the basis of a comparative analysis of the cyclical behavior of the banknote market, I conclude that the role of the banknote market in interregional balance of payments adjustments declined as the Old Northwest became more closely integrated into the external financial system.

Keywords

This publication has 3 references indexed in Scilit:

The Investment Market, 1870–1914: The Evolution of a National Market
The Journal of Economic History, 1965
Speculation and Economic Stability
The Review of Economic Studies, 1939
The New York Money Market
Published by Columbia University Press ,1931