The Federal Reserve's Temple

The Federal Reserve's TempleOne of the most impressive, if (appropriately) reserved federal buildings in the national capital is that of the Federal Reserve's headquarters located on Constitution Avenue.  For its classical architectural elements -- and perhaps for the somewhat hermetic rituals therein performed -- it has been called a "temple." Photograph of the Board of Governors of the Federal Reserve System According to the Fed's : From 1913 to 1937, the Board of Governors of the Federal Reserve System met in the United States Treasury building at 1500 Pennsylvania Avenue, N.W., and the employees were scattered …Read more

Sir Isaac Newton and the Royal Mint

Wikipedia gives us a glimpse of the picturesque history of the British Royal Mint, where Sir Isaac Newton created, de facto, the modern classical gold standard that was to well serve the world for nearly 200 years: The London Mint first became a single institution in 886,[] during the reign of , but was only one of many mints throughout the kingdom. By 1279 it had moved to the , and remained there the next 500 years, achieving a on the production of coins of the realm in the 16th century. Sir took up the post of , responsible for investigating cases of counterfeiting, in 1696, and …Read more

What Modi of India Growth?

There was little question that Narendra Modi would win India’s drawn-out election progress. When Modi and his Bharatiya Janata Party replaces the Congress Party in India’s government, changes are expected – by economists and by the Indian people. What is question is what kind of economic changes await India. Modi’s claim to fame is impressive economic development in Gujarat. The question is whether he can replicate that growth across India. The Indian economy is in need of a jump start as both investment and GDP growth have slowed dramatically, but Derek Scissors, resident scholar at the …Read more

Pepys on the Mystery of the Missing Gold

Pepys on the Mystery of the Missing GoldThe great Restoration diarist Samuel Pepys confided, to his diary, on 3, some observations he made at the Royal Mint and its manufacture of coins under the new "milled" method.  This method was considered in its day a state secret, making his observations, published long after the fact, all the more interesting.  Pepys, by by Godfrey Kneller, 1689, courtesy of He dined with some of the officials of the mint after, and records: At dinner they did discourse very finely to us of the probability that there is a vast deal of money hid in the land, from this:
That in King Cha[r]les’s time time …Read more

Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff

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