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Excerpt from The Early History of Banking in Iowa Suspension of Specie Payments by the Miners' Bank; Banking in Iowa from 1841 to 1844; The Attitude of the Fourth Legislative Assembly; Position of Democrats in the Council; Position of Whigs in the Council; Action of the House; Proposed Bank of Davenport; Change in Stockholders of the Miners' Bank; The Failure of the Territory of Iowa to Pay the Debt Due to the Miners' Bank; Attempt in the Fifth General Assembly to Revoke the Charter of the Miners' Bank; Majority Report of Select Committee of the House; Minority Report of Select Committee of the House; Consideration of Reports by the House; Action by the Council; The Claims of Improper Influences; The Majority Report of Select Committee; The Minority Report of Select Committee; The Miners' Bank in the Sixth Legislative Assembly; Reception of Petitions; The Discussion in the House; The Discussion in the Council; The House Refuses to Concur; The Resumption of Specie Payments by Miners' Bank; The Question of Banking Before the Constitutional Convention of 1844; The Majority and Minority Reports on Banks; Report of the Select Committee on Banks; Report of Committee on Incorporations About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

After the financial crisis of 2007-2008, analysts continue to question the security of banking sectors in nations in Europe, Latin America, Asia, and Africa. Why do such crises recur? What is it about the accumulation of bank debt that potentially jeopardizes national and global banking systems? There is no one better-equipped to answer such questions than Gary Gorton, who has been studying financial crises since his PhD thesis in 1983. The Maze of Banking contains a collection of his academic papers on the subjects of banks, banking, and financial crises. The papers in this volume span almost 175 years of U.S. banking history, from pre-U.S. Civil War private bank notes issued during the U.S. Free Banking Era (1837-1863), followed by the U.S. National Banking Era (1863-1914) before there was a central bank, through loan sales, securitization, and the financial crisis of 2007-2008. Banking changed profoundly during these 175 years, yet it did not change in fundamental ways. The forms of money changed, resulting in associated changes in the information structure of the economy. Bank debt evolved as an instrument for storing value, smoothing consumption, and transactions, but its fundamental nature did not change. In all its forms, it is vulnerable to bank runs without government intervention. Comprehensive and informative, the collection is the definitive volume on the history of the U.S. banking system. These papers provide the framework for understanding how the financial crisis of 2007-2008 developed and steps to promote a stable banking industry, thereby preventing future economic crises. The Maze of Banking is essential reading material for students and academics with an interest in economics, finance, and the history of banking.