23. “Bicycle Riding Fad Strikes Washington,” New York Times, July 31, 1933, p. 15.
24. “Is a New Car a Sin?” Wall Street Journal, February 18, 1932, p. 8.
25. Heffetz, 2011, p. 1106.
26. “Confidential Chat: Husband Lacks All Sense of Responsibility,” Boston Daily Globe, May 12,
1932, p. 18.
27. “Confidential Chat: Don’t Blame the Men; They Can’t Help It,” Boston Daily Globe, May 28, 1932,
p. 18.
28. “Relief to Stay, Says State Director,” Pittsburgh Post-Gazette, January 30, 1936, p. 26.
29. Bewley, 1999, pp. 49–50.
30. Fang and Moscarini, 2005.
31. “Blue Jeans and Calico,” New York Tribune, April 13, 1920, p. 14.
32. Nerissa Pacio Itchon, “S.F.’s First Fashion Icon: Levi’s 501s,” San Francisco Chronicle, May 19,
2017, https://www.sfchronicle.com/style/article/SF-s-first-fashion-icon-Levi-s-501s-11153403.php. Lady
Levi’s were first marketed as cowgirl or riding clothes, as in the Levi Strauss display ad “An Old Timer
Advises the Dude Ranch Guest,” New York Herald Tribune, April 28, 1935, p. I13.
33. Judy Horton, “Dude Dressing,” Vogue, June 1, 1935 p. 121.
34. Sullivan, 2006.
35. https://www.liveabout.com/the-history-of-jeans-2040397.
36. “Briton Changes Name; ‘Becomes James Dean,’ ” Minneapolis Sunday Tribune Picture Magazine,
January 5, 1958.
37. “The Country Is Off on a Jig-Saw Jag,” New York Times, February 12, 1933, p. 100.
38. “1932’s Bargains Different from Those of 1931: To Claim Poverty No Longer Chic—Furs and Shoes
Are Discussed,” Washington Post, April 7, 1932, p. S6.
39. Piketty, 2014. See also http://piketty.pse.ens.fr/files/capital21c/en/Piketty2014FiguresTablesLinks
.pdf. Table I.1 on that site shows the fraction of income accruing to the top decile in income in the United
States 1910–2010, reflecting the dramatic rise in inequality since 1970.
40. Uchitelle, 2006.
41. Trump and Zanker, 2007. The title of the book was later changed to Think Big: Make It Happen in
Business and Life.
42. Paul Blustein, “In Japan, Consumption’s No Longer Conspicuous; Consumers’ Newly Frugal Mood
May Prolong Nation’s Recession,” Washington Post, February 28, 1993, p. H01.
43. Charles Fisher, Meditation in the Wild: Buddhism’s Origin in the Heart of Nature (Alresford, UK:
John Hunt Publishing, 2013).
44. Adams, 1931, p. 404.
45. “A Martin Luther King Center to Open in Phila.,” Philadelphia Inquirer, November 23, 1983, p. 4-B.
46. “President Calls for Expanding Opportunities to Home Ownership, Remarks by the President on
Homeownership,” St. Paul AME Church, Atlanta, Georgia, June 17, 2002, https://georgewbush-whitehouse
.archives.gov/news/releases/2002/06/20020617-2.html.
47. Pecotich and Ward, 2007.

Chapter 12. The Gold Standard versus Bimetallism
1. Quoted by Ralph Benko, “President Trump: Replace the Dollar with Gold as the Global Currency to
Make America Great Again,” Forbes, February 25, 2017.
2. https://www.bankofcanada.ca/rates/related/international-reserves/.
3. World Gold Council, https://www.gold.org/what-we-do/official-institutions/accounting-monetary-
gold. There are 32,150 troy ounces in a metric ton, and the price of a troy ounce of gold at this writing is US
$1294.
4. Daniel Indiviglio, “Bernanke to Ron Paul: Gold Isn’t Money,” Atlantic, July 13, 2011.
5. See Flandreau, 1996.
6. Atlanta Constitution, April 19, 1895, p. 4.
7. “The Treaty,” New York Times, February 10, 1897, p. 6.
8. “Silver in the West: Some Easterners Misjudge the Sentiment for It,” Washington Post, July 28, 1896,
p. 4.
9. International Bimetallic Conference, Report of Proceedings (London, 1894).
10. Today’s University of Chicago opened in 1890. It had as one of its first professors J. Laurence
Laughlin, who, before his Chicago years, wrote a book, The History of Bimetallism (1886), which strongly
opposed bimetallism. The real Professor Laughlin then challenged Harvey to a real debate in which
Laughlin did much better than in the fictional exchange, and so became a leading public intellectual with
influence on the Gold Standard Act of 1900 and on the creation of the Fed. See André-Aigret and Dimand,
2018.
11. “Silver in the West: Some Easterners Misjudge the Sentiment for It,” Washington Post, July 28, 1896,
p. 4.
12. “M’Kinley on Hard Times,” New York Times, October 7, 1896, p. 3.
13. “NO MORE: Do Silverites Ask about General Prosperity,” Courier-Journal, September 11, 1897, p. 6.
14. Noyes, 1898, p. 190.
15. In New York, there was a subtreasury office on Wall Street near the New York Stock Exchange. You
can still see the open vault today, with an explanatory plaque, but the office no longer redeems in gold. The
building is now a museum.
16. “The Pedigree of the Gold-Bug: The First Pair Imported from Nevada,” Louisville Courier-Journal,
July 28, 1896, p. 2.
17. “The Pedigree of the Gold-Bug,” p. 2.
18. See Sargent and Velde, 2002.
19. Howard, 1895, p. 7.
20. Howard, 1895, p. 76.
21. Henry L. Davis, of the California Optical Company, quoted in “San Francisco Business Men Tell
Why Times Are Hard and Name the Remedy,” San Francisco Chronicle, August 21, 1896, p. 8.
22. Charles Merrill, quoted in “San Francisco Business Men,” San Francisco Chronicle.
23. Official Proceedings of the Democratic National Convention Held in Chicago, Ill., July 7th, 8th 9th,
10th and 11th, 1896 (Logansport, IN: Wilson, Humphries & Co., 1896).
24. “Where Bryan Got Them,” Louisville Courier Journal, July 29, 1896, p. 4.
25. “Fiat Oratory,” New York Times, July 24, 1896, p. 4.
26. Louis Sloss, quoted in “San Francisco Business Men Tell Why Times Are Hard and Name the
Remedy,” San Francisco Chronicle, August 21, 1896, p. 8.
27. The law was enunciated by Scottish economist Henry Dunning Macleod in 1857, at the very
beginnings of the bimetallism controversy, and he generously attributed his law to British financier Thomas
Gresham (1519–79). The law is very simple: if a bimetallic standard’s ratio is contrary to the ratio
established in world markets, people will generally choose to pay in the less valuable currency, which will