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2012 Reprint of Original 1951 Edition. Two Volumes bound in one. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. The purpose of these volumes is to offer further evidence of the authors thesis that business leaders are the controlling element in economic development because they "determine its spirit and its strategy by making its major decisions." This volume and its predecessor are first rate history. Bank management, private banking, investment banking and competition in the money market, topics barely mentioned in other banking histories, are discussed with fine precision. The author has an unusual command of the foreign literature on money and banking and continually sees American practices against a world background. Not only for bankers, both theoretical and practical, but for all students of economic history, "The Molding of American Banking" is required history.