About the Author

Bray Hammond (1886-1968) was Assistant Secretary of the Board of Governors of the Federal Reserve System from 1944 to 1950.

Reviews

"Hammond writes engagingly and his work is a happy blend of diligent research and spirited recitals... We have here an excellent account of the evolution toward a uniform paper currency based on Federal credit and a national banking law."--The Bankers Magazine "Hammond offers some shrewd insights not only into the interaction between monetary policy and politics but also into the basic drift of federalism in these turbulent years."--Civil War Times