Len's Summary: Traces Treasury Secretary William McAdoo’s triumph over the monetary crisis sparked by the start of WWI. With the central bank (the Federal Reserve System) authorized by the Owen-Glass Act of December 1913 not yet in place, he closed the American Stock Exchange for four months to prevent foreigners from selling their holding and demanding gold in return. McAdoo both honored America’s commitment to the gold standard and sustained public confidence in the banking system, preventing a repeat of the disastrous 1907 run on American banks. The author is a professor at the Stern School of Business, NYU.
On Saturday March 12 the WW1HA hosted its first ever online quiz night. This was a fun way to get geographically distant members together virtually. We are considering doing this a few times a year.
The next issue of World War One Illustrated (WWOI) will be printed shortly. Members/subscribers should receive their printed issue in the next month or so.
Members are encouraged to participate in the monthly online seminars hosted by the San Francisco Bay Area Chapter; and we plan to announce a gathering of WW1HA members at the National World War I Museum’s Fall 2022 symposium. Stay tuned!
Do you have a special interest or knowledge regarding a WW1 topic? Consider sharing your knowledge by writing an article for WWOI or a shorter blog post (500 – 1,000 words) for the WW1HA Facebook page. Talk to Editor Ed Klekowski (email@example.com) or Charles Van Way (firstname.lastname@example.org) for more details.
Finally, you can always reach out to me with your thoughts or questions.