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.
Covid-19 has made life very interesting in 2020. The WW1HA normally participates in the National WW1 Museum and Memorial’s annual symposium in late October / early November, but it appears that event is not taking place in-person or on-line this year. Therefore, the Association pivoted by hosting its first ever Meet and Greet event via Zoom on 27 Sept. We had almost 40 participants share their interest in WW1.
The San Francisco Bay Area Chapter has started to host their monthly meetings via Zoom, and the WW1 Historical Association—Eastern Chapter has also been hosting various Zoom events.
At the time of this writing World War One Illustrated #13 has just gone to the printers and members should be receiving their copies shortly.
My first two-year term as President is almost at an end. We have been successful in getting our publications back on track and in improving the regularity of our social media posts on Facebook. We still have work to do updating our website. Patience please.
Our membership year runs from 11 November to 10 November. Please renew your membership now, if you are a current member. Please join us, if you are not yet a member. We remain fascinated with the study of WW1 because of its enormous impact on the 20th and 21st centuries, and because it has impacted many of our families.