History of Finance Capital in America

Go Tian Kang is an Emeritus Professor at Chuo University, Japan. He is the author of The Rise of Finance Capital in America (in Japanese) and American Commercial Banks in Corporate Finance, 1929–1941. He has contributed numerous articles to economic journals and has tought at the University of Tokyo, Peking University and other universities in Asia.

• ContentsPREFACEChapter Ⅰ De-concentration after World War I (part 1) —The emergence of new financial-industrial powersⅠ The Rise of New IndustriesⅡ The Formation of New Financial-Industrial Powers1. The Regional Financial-Industrial Powers2. The Investment Bankers and their Investment Trusts3. The Industrial Capitalists become BankersChapter Ⅱ De-concentration after World War I (part 2) —The response of Wall Street financial-industrial powersⅠ Morgan-First National GroupⅡ National City GroupⅢ Chase GroupChapter Ⅲ The Renewed Dominance of Finance Capital under the DepressionⅠ The Dominance of Finance Capital1. Formation of the stock pool2. Leading the bond syndicates3. Concentration of bank loans4. The Massive withdrawal of brokers’ loans and its consequencesⅡ The Fall of the New Financial-Industrial Powers1. The elimination of powerful competitors in the financial center2. The fall of regional powersⅢ Industrial Concentration Following the Crash1. Public utilities (power and gas)2. Electrical equipment3. Motor Cars4. Oil5. Steel6. Motion Pictures7. NewsprintChapter Ⅳ The Growing Community of Interests1. Public Utilities2. Petroleum3. Iron and Steel4. Automobile sales finance5. Chemicals6. Tire7. Tobacco8. Distilleries9. Canneries10. Paper11. Motion Pictures12. Merchandizing13. Aircraft14. ShipbuildingChapter Ⅴ The New OligarchyⅠ The Emergence of New OligarchyⅡ The Morgan-First National Group1. The Four Morgan-First National Banks2. The Three Big Insurance Companies3. The Two Investment Banking FirmsⅢ The Rockefeller Group1. Chase National Bank2. Metropolitan Life and Equitable Life3. The First Boston Corporation and Rockefeller’s subordinate allies in investment bankingⅣ National City GroupⅤ Wall Street’s Growing Influence over the Regional Groups1. The Chicago banks’ growing dependence on the Wall Street financial powers2. Subordination of Mellon to Rockefeller3. Cleveland becomes a satellite of Wall Street4. The new alliance between Boston and RockefellerChapter Ⅵ Finance Capital in Federal FinanceⅠ Financing the Reconstruction Finance Corporation (RFC)Ⅱ Financing the New Deal ProgramⅢ Supporting the emerging War EconomyAPPENDIXSELECTED BIBLIOGRAPHY INDEX