The Fall of the House of Speyer


Book Description

The dramatic story of the last fifty years of the Speyer banking dynasty, a Jewish family of German descent, is surprisingly little known today, yet at the turn of the 20th century, Speyer was the third largest investment banking firm in the United States, behind only Morgan and Kuhn, Loeb. It had branches in London, Frankfurt and New York, and the projects it financed included the Southern Pacific Railroad, the London Underground and the infrastructure of the new Cuban republic. Later, it was the first major banking firm to finance Germany's Weimar Republic, as well as providing League of Nations loans to Hungary, Greece and Bulgaria. Yet, the firm was doomed by the nationalist passions aroused by World War I. Its English partner was denaturalised and exiled; its American partner enjoyed reduced standing because of his connection to Germany; and the Frankfurt branch closed with the coming of the Third Reich, its German partner fleeing into exile. The firm was dissolved in 1939, a surprisingly anticlimactic end to one of the great international banking companies of modern times. George W. Liebmann here tells the story of the firm and the family - shedding new light on the protagonists of a remarkable dynasty, who came undone in the dramatic years of the early 20th century.







American Railroads


Book Description

Few scenes capture the American experience so eloquently as that of a lonely train chugging across the vastness of the Great Plains, or snaking through tortuous high mountain passes. Although this vision was eclipsed for a time by the rise of air travel and trucking, railroads have enjoyed a rebirth in recent years as profitable freight carriers. A fascinating account of the rise, decline, and rebirth of railroads in the United States, John F. Stover's American Railroads traces their history from the first lines that helped eastern seaports capture western markets to today's newly revitalized industry. Stover describes the growth of the railroads' monopoly, with the consequent need for state and federal regulations; relates the vital part played by the railroads during the Civil War and the two World Wars; and charts the railroads' decline due to the advent of air travel and trucking during the 1950s. In two new chapters, Stover recounts the remarkable recovery of the railroads, along with other pivotal events of the industry's recent history. During the 1960s declining passenger traffic and excessive federal regulation led to the federally-financed creation of Amtrak to revive passenger service and Conrail to provide freight service on bankrupt northeastern railroads. The real savior for the railroads, though, proved to be the Staggers Rail Act of 1980, which brought prosperity to rail freight carriers by substantially deregulating the industry. By 1995, renewed railroad freight traffic had reached nearly twice its former peak in 1944. Bringing both a seasoned eye and new insights to bear on one of the most American of industries, Stover has produced the definitive history of railroads in the United States.




Railroads and Regulations, 1877-1916


Book Description

This examination of the relationship of the economy to political process in the United States from 1877 to 1916 shows how the railroad industry encouraged and relied on national politics to solve its economic problems, and created a precedent for government regulation of the economy in the twentieth century. The continuity in governmental regulation from 1877 to 1900, in the Progressive Era, and in the administrations of Roosevelt, Taft, and Wilson are pointed out. The origin of each major federal railroad act and contending forces is analyzed. Federal regulation of the railroads, probably the most important example of federal intervention in the economy from the Civil War to World War I is used as a key in reassessing the motives behind Progressivism. Originally published in 1965. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.




History of the Baltimore and Ohio Railroad


Book Description

The Baltimore & Ohio Railroad was the first common carrier railroad in America. As an economic historian, Stover tells the history of the B & O from its beginnings in 1928, and through the dark times of this country's economic growth and downswings. He examines the programs undertaken by the company throughout its history to improve its lines, equipment, and service.




The Great Northern Railway


Book Description

Written by historians at Harvard Business School, Mississippi State U., and St. Cloud State U. (Minn.), this history details the development and day- to-day affairs of this powerful business, and the careers of the main figures instrumental in its operation. This definitive work, first published by




Favorites of Fortune


Book Description

A galaxy of distinguished international economists and historians pit economic history against the shaky assumptions of the classical economic theory of natural growth. Their explanations consider the factors of technology, entrepreneurialism, and paths to economic growth, but each reflects an ideological wave of explanation that has marked the last two hundred years.




Engines of Redemption


Book Description

After the upheavals of the Civil War and Reconstruction shattered the plantation economy of the Old South, white southerners turned to the railroad to reconstruct capitalism in the region. Examining the rapid growth, systemization, and consolidation of the southern railroad network, R. Scott Huffard Jr. demonstrates how economic and political elites used the symbolic power of the railroad to proclaim a New South had risen. The railroad was more than just an economic engine of growth; it was a powerful symbol of capitalism's advance. However, as the railroad spread across the region, it also introduced new dangers and anxieties. White southerners came to fear the railroad would speed an upending of the racial order, epidemics of yellow fever, train wrecks, violent robberies, and domination by corporate monopolies. To complete the reconstruction of capitalism, railroad corporations and their allies had to sever the negative aspects of railroading from capitalism's powers and deny the railroad's transformative powers to black southerners. This study of the New South's experience with the growing railroad network provides valuable insights into the history of capitalism--how it evolves, expands, and overcomes resistance.