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The New York Stock Exchange in the Crisis of 1914

By Henry George Stebbins Noble
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EconomicsHistory - AmericanHistory - Modern (1750+)

About This Book

The author, drawing on his position within the Exchange, chronicles the 1914 suspension of trading, explaining the sequence of committee decisions, emergency mechanisms such as restricted and clearing-house markets, and comparisons with previous closures. He traces how the shutdown affected liquidity, speculative and commodity markets, and public debate about the necessity of exchanges, and recounts steps taken to reopen and restore orderly trading. Alongside narrative chronology, the work analyzes the exchanges' functions, institutional responses to panic, and the broader lessons about market regulation, public misunderstanding, and the need for clearer appreciation of the exchanges' economic role.

About the Author

Noble, Henry George Stebbins portrait

Henry George Stebbins Noble

Henry George Stebbins Noble was an American author and financial commentator known for his insightful analysis of economic events. His notable work, "The New York Stock Exchange in the Crisis of 1914," examines the impact of World War I on financial markets, particularly focusing on the New York Stock Exchange during a pivotal moment in history. Noble's writings contribute to the understanding of economic crises and their broader implications, reflecting his expertise in finance and market dynamics.

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