TY  - CHAP
AB  - The assumption today is that the Federal Reserve stands behind the financial system in case of a catastrophic shock. There has been little research on how the payments system functioned during economic catastrophes prior to the establishment of the Federal Reserve System. This paper examines the 1906 San Francisco earthquake when a private sector response was required after disaster occurred. The research question addressed is how well the private sector responded when there was a large external shock to the payments system such as an earthquake. The San Francisco Clearinghouse is examined as a case study.
VL  - 21
SN  - 978-0-76230-993-1, 978-1-84950-194-1/0363-3268
DO  - 10.1016/S0363-3268(03)21004-1
UR  - https://doi.org/10.1016/S0363-3268(03)21004-1
AU  - Phillips Ronnie J.
PY  - 2003
Y1  - 2003/01/01
TI  - Coping with financial catastrophe: The San Francisco clearinghouse during the earthquake of 1906
T2  - Research in Economic History
T3  - Research in Economic History
PB  - Emerald Group Publishing Limited
SP  - 79
EP  - 104
Y2  - 2021/01/24
ER  -