INDEX

Anglo-American Relations 10, 32–3, 43–5, 80–1, 115–16, 128, 135–6, 148–50, 160, 186, 187–8
and reparations and war debts 14, 33, 59–60, 162–5, 167–70, 171–5
Anglo-French Relations 19–21, 24–5, 32, 59, 67, 77, 85–6, 137, 148–9, 160, 186, 187–8
and reparations and war debts 34, 116, 162–4, 173–5
Treasury discussions of January-February 1931 25, 29, 31–2, 38
Treasury discussions of August 1931 97, 115–16
Austrian financial crisis of 1931 46–8, 53, 55, 58, 59
Baldwin, Stanley 14, 17, 91, 98, 100, 121, 138, 154, 158
Balfour Note 40, 128, 139
Bank for International Settlements (‘BIS’) 35–7, 41, 61, 64, 159
Bank of England 2, 3, 19, 20, 24, 161, 184, 186
and British return to gold standard in 1925 4, 9, 14, 15, 16
role in British monetary policy 9, 37, 96, 150, 158, 187–9
and relalations with other central banks 10–12, 19, 61, 78, 148, 149, 159, 186
Committee of Treasury 29, 30, 34, 35, 36, 44, 82, 83, 90, 92, 94, 100, 105, 118, 120, 134
and British financial crisis of 1931 71, 77–84, 89, 90–3, 95, 96, 98, 99, 103, 113, 118, 120, 121–3, 129, 132, 138
see also Norman, Montagu
Bank of France 3, 19–20, 24, 25, 42, 61, 64, 80, 81, 86, 88, 89, 91, 94, 99, 120, 122, 151, 184, 189
see also Moret, Clement
Bank rate 15, 17, 18–19, 30, 38, 46, 79 80, 84, 85, 126, 132, 138, 161, 165–6, 184
‘bankers’ ramp’ 99–100, 118
Beneduce Report 155, 157
Bevin, Ernest 101–2
Brand, R.H. 41, 120
British Government Credits of 1931 82, 87, 98, 102–5, 113–20, 126–8, 161–2
British Treasury 9, 14, 15, 16, 65, 70, 80, 85, 88–91, 95, 98, 126, 132, 150, 159, 160, 162, 165, 188
Brüning, Heinrich 54, 56
Cabinet Economy Committee 96, 101
Cabinet Subcommittee on the Financial Situation (‘Financial Subcommittee’) 128, 129–30, 134–5
Castle, William 63, 164
Central Bank Credits of 1931 to the Bank of England 81–90, 113, Chamberlain, Austen 120, 131–2
Chamberlain, Neville 85, 91, 94–5, 97, 103, 129, 150, 160, 162–5
Churchill, Winston 16, 17
Committee on Finance and Industry (‘Macmillan Committee’) 5, 46, 65, 78, 101, 185
Committee on Foreign Exchanges After the War (‘Cunliffe Committee’) 8–9
conversion of British First World War debt 88, 166
Crane, Jay 80, 81, 98
Dawes, Charles 86, 136, 138
Exchange Equilisation Account 165, 188
Federal Reserve Bank of New York (‘FRBNY’) 2, 3, 16, 17, 18, 19, 22, 43, 61, 64, 79, 81, 87–9, 98, 99, 103, 120, 122, 151, 184, 189
see also Harrison, George
Federal Reserve System of the United States 12, 19
Flandin, Pierre-Etienne 60, 62, 116
French-American Relations 58, 60–2, 67, 149–54
see also Hoover Moratorium, reparations, war debts
French Treasury 62, 86
Genoa Conference 10–11
German financial crisis of 1931 32, 42, 53, 56–71, 77, 97, 100, 154
gold
drain from United States 149, 150–1, 166, 185
sterlizing of 37, 160
gold standard
British return to 4, 14–17
decision to leave 3–7, 131–9, 183–91
pre-war 4–5, 8
Grenfell, Edward 13, 19, 40, 45, 64, 97, 98, 102, 103, 104, 114, 120, 124, 135, 136, 137, 160
Harrison, George 22, 23, 30, 41, 42–3, 152, 156, 161, 185
background 19
and German financial crisis of 1931 61, 63, 64, 67
and British financial crisis of 1931 77, 79, 84, 86, 87, 88, 93, 94, 98, 99, 103, 105, 121, 124, 127, 129, 132, 137
and American financial situation of 1931–2 149, 166
Harvey, Sir Ernest 83, 148, 158
background 84
role during Montagu Norman’s absence 86, 87, 90, 92, 94, 95, 96, 97, 98, 103, 105, 114, 119, 120–3, 127, 129, 130, 132, 133–4, 135, 137
Henderson, Arthur 66, 68, 89, 98, 101
Henderson, H.D. 93, 95, 118, 160
Herriot, Edouard 168, 169, 175
Hoover, Herbert 18, 43, 66, 69, 70, 80, 81, 127, 135, 136, 151, 152–4
background 39–40;
and reparations and war debts 55, 57, 60, 62, 150–5, 168, 170, 172
Hoover Moratorium 53, 55–6, 57, 59, 61, 62, 63, 155–7
Hopkins, Sir Richard 6, 42, 80, 82, 83, 97
Jay, N. Dean 68–9, 86
J.P. Morgan & Co. (‘Morgan’s’) 2, 3, 12, 21, 37, 47, 99, 173;
see also J.P. Morgan & Co. (N.Y.), Morgan, J.P., Jr., Morgan et Cie., Morgan Grenfell & Co.
J.P. Morgan & Co. (N.Y.) (‘Morgan’s (‘N.Y.’) 12, 22, 23, 35, 55, 60–1, 62, 67, 68, 151, 159, 185
and British return to gold standard in 1925 16, 17
and British financial crisis of 1931 87, 94, 102–5, 113–14, 116–17, 118, 120, 121, 126, 130, 137, 138
see also Morgan Grenfell & Co., Morgan et Cie.
Keynes, John Maynard 18, 20, 22, 23, 33, 95–6, 100, 121, 160, 188
Kindersley Plan 35, 37, 38, 42, 44
Kinaersley, Sir Robert 35, 38, 81, 82, 84, 86, 120
Lacour-Gayet, Robert 81, 88, 149, 150
Lamont, Thomas 21–2, 23, 38, 45, 120, 121, 124, 136, 138, 159, 161, 167, 172, 173
background 13–14
relationship with Herbert Hoover 40, 55–6, 152, 168
Lausanne Conference 157, 166–71
Laval, Pierre 60, 62, 80, 89, 115, 137, 150, 152–4
Leffingwell, Russell 13–14, 18, 19, 41, 45, 84, 121, 183
Leith-Ross, Sir Frederick 24, 29–30, 32, 39, 58, 63, 97, 98, 115, 116, 160
Lindsay, Sir Ronald 56, 63, 156–7, 164, 172
London Conference of 1931 (Seven Power Conference) 54, 67, 71, 79
Luther, Dr. Hans 58, 63, 64
MacDonald, Ramsay 1, 14, 23, 91, 119, 121, 126, 147, 150, 158, 165, 167, 169, 173
background 89
attitude towards French 39, 67, 169, 173
attitude towards Germans and German financial crisis of 1931 56–7, 65–6, 70;
and reparations and war debts 58, 59, 60, 156
and British financial crisis of 1931 68, 71, 78, 85, 88, 92, 94–6, 98, 101–5, 113, 123, 132, 135, 138
McGarrah, Gates 36, 42, 65, 97, 149
McKenna, Reginald 18, 33
May Committee 5, 34, 80, 85, 88–9, 93, 102, 188
Melchior, Carl 71
Mellon, Andrew 17, 43, 56, 59, 62, 64, 67, 69, 151
Meyer, Eugene 19, 69, 88
Mills, Ogden 56, 62, 63, 70, 88, 152, 164, 168, 171, 173–4
Moreau, Emile 21, 67, 97
Moret, Clement 24, 70, 80, 83, 84, 86, 91, 115
Morgan, Sr., J. Pierpont 12–13, 23
Morgan, Jr., J.P. 16, 21–2, 42, 91, 92, 93, 98, 104, 114, 116, 135, 138, 147, 149, 151, 159
background 13
relationship with Montagu Norman 18, 22, 45, 79, 82, 87, 98, 160
Morgan et Cie., 60–1, 62, 68
Morgan Grenfell & Co. 12, 58, 113, 118, 126, 127, 130, 138, 151, 160
National Government 92–3, 105, 118, 119, 130–1, 135, 149
Norman, Montagu 2, 3, 5, 22, 23, 34, 35, 36, 45, 46, 55, 59, 60, 65, 95, 159, 160, 161, 165, 166, 173–4, 183, 185, 186, 187, 188, 190
background 10
theory of central banking and relations with other central bankers 10–11, 148, 187
and British return to gold standard in 1925 14, 16, 17
attitude towards French 20, 24–5, 29–30, 34, 43, 61
trip to United States in 1931 41, 42–3, 44–5
attitude towards Americans 45–6, 149
attitude towards Germans and German financial crisis of 1931 43, 57, 58, 59, 61, 62, 63, 64, 69, 70
and British financial crisis of 1931 66, 68, 70, 71, 77, 78, 79, 80–7, 124–6, 129, 132–4, 185–90
breakdown of, 70, 79, 80, 84, 98
Peacock, Sir Edward 94–5, 96, 97, 100, 114, 120, 121, 123, 124, 131, 132, 133–4, 135, 138, 167
Reichsbank 60, 63
reparations 21, 34, 35, 60, 153–5, 162–5, 167–71
Roosevelt, Franklin D. 171–2
Samuel, Sir Herbert 102, 120, 138
Snowden, Philip 23, 30, 33–4, 41, 43, 45, 65, 70, 80, 82, 86, 87, 89, 92, 94, 95, 97, 101, 102, 116, 126, 129
Sprague, O.M.W. 41, 44, 100
Stewart, Walter 54, 78, 164
Stimson Henry 29, 40, 42, 44, 66, 69, 70, 86, 151
and reparations and war debts 56, 58, 62, 155–7, 164–5, 167, 169, 171–5
and British financial crisis of 1931 68, 70, 80, 89, 92, 94, 114, 127–8, 135, 136, 138
Strong, Benjamin 11–12, 15–19
war debts 14–15, 34, 153–7, 162–4, 171–5
Whigham, Charles 47, 82
Young Plan, 21–3, 35, 53, 56, 58, 61, 62, 128, 139, 154