Money, Banking, and Financial Markets

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Laurence M. Ball WORTH PUBLISHERS 2011
The building on this book’s cover is the Second Bank of the United States, located in Philadelphia. It operated from 1816 to 1836, serving some of the functions of the modern Federal Reserve. President Andrew Jackson vetoed legislation to extend the Bank’s charter because he believed it served “moneyed interests” at the expense of common people (see Chapter 8). To the right of the Second Bank, the central photo shows a specialist (in a blue coat) and traders at work on the floor of the New York Stock Exchange (see Chapter 5). They are flanked by two currencies. At the top is a gold certificate, a type of money used in the United States in the late nineteenth and early twentieth centuries (see Chapter 2); at the bottom are Japanese yen.

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