Chapter

Bank Chartering and Political Corruption In Antebellum New York

Edited by Howard Bodenhorn

in Corruption and Reform

Published by University of Chicago Press

Published in print April 2006 | ISBN: 9780226299570
Published online February 2013 | e-ISBN: 9780226299594 | DOI: http://dx.doi.org/10.7208/chicago/9780226299594.003.0008
Bank Chartering and Political Corruption In Antebellum New York

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This chapter analyzes the first episodes of anticorruption reform in U.S. history. It describes the events leading up to the passage of New York State's 1838 free banking statute, showing how corrupt politics and an iron-handed chartering regime gave way to free market reform and a liberal general incorporation law. This chapter argues that the reform emerged from the Whigs' desire to deprive their opponents of the rents of patronage.

Keywords: anticorruption reform; free banking statute; New York State; corrupt politics; free market reform; incorporation law; Whigs; rents of patronage

Chapter.  12463 words. 

Subjects: Economic History

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