Atlantic Economic Journal

, Volume 29, Issue 1, pp 1–19 | Cite as

Financial collapse: 1933

  • Allan H. Meltzer


Financial collapse in the winter of 1933, culminating in the “bank holiday” of early March, was a climactic event. It ended the downswing phase of the great depression. It produced widespread losses to depositors and owners of bank capital, which, soon after, led to the establishment of the Securities and Exchange Commission, separation of commercial and investment banking, federal deposit insurance, and other landmark financial legislation. It put an end to the gold standard in the U.S., followed in a few years by the remaining adherents of that standard.


Gold Gold Standard International Economic Public Finance Great Depression 
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Copyright information

© International Atlantic Economic Society 2001

Authors and Affiliations

  • Allan H. Meltzer
    • 1
  1. 1.Carnegie Mellon UniversityUSA

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