The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.

Cyrus Hamlin's letters are not just another addition to the enormous corpus of soldiers' testimony on the Civil War. Hamlin, the son of Lincoln's first vice president, chased Stonewall Jackson in the Shenandoah Valley and served as an officer in Brigadier General Daniel Ullmann's brigade of black soldiers. His letters cover the Civil War from its beginning to the horrific New Orleans race riot of July 30, 1866, and early Reconstruction politics in Louisiana. Written by a young officer with rare access to men in power, these letters are uniquely valuable for the light they shed on the history of the Ullmann Brigade. Ullmann's black regiments were among the first to be endorsed by the War Department. The dearth of attention to the Ullmann Brigade makes Cyrus Hamlin's letters especially noteworthy. They provide unprecedented insight into a neglected chapter of the African American experience in the Civil War. Hamlin possessed no great intellectual gifts, a fact readily observable in his correspondence, but his letters offer a fascinating and detailed first-hand account of this turbulent time in our nation's history. An appendix and bibliographical note complete this work. Several vintage portraits enliven the text.

The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.

Ohio's Rufus P. Ranney embodied many of the most intriguing social and political tensions of his time. He was an anticorporate campaigner who became John D. Rockefeller's favorite lawyer. A student and law partner of abolitionist Benjamin F. Wade, Ranney acquired an antislavery reputation and recruited troops for the Union army; but as a Democratic candidate for governor he denied the power of Congress to restrict slavery in the territories, and during the Civil War and Reconstruction he condemned Republican policies. Ranney was a key delegate at Ohio's second constitutional convention and a two-time justice of the Ohio Supreme Court. He advocated equality and limited government as understood by radical Jacksonian Democrats. Scholarly discussions of Jacksonian jurisprudence have primarily focused on a handful of United States Supreme Court cases, but Ranney's opinions, taken as a whole, outline a broader approach to judicial decision making. A founder of the Ohio State Bar Association, Ranney was immensely influential but has been understudied until now. He left no private papers, even destroying his own correspondence. In The Jacksonian Conservatism of Rufus P. Ranney, David M. Gold works with the public record to reveal the contours of Ranney's life and work. The result is a new look at how Jacksonian principles crossed the divide of the Civil War and became part of the fabric of American law and at how radical antebellum Democrats transformed themselves into Gilded Age conservatives.

Historians have paid surprisingly little attention to state-level political leaders and judges. Edward Kent (1802-77) was both. He served three terms as a state legislator, two as mayor of Bangor, two as governor, and two as a judge of the state supreme court. He represented Maine in the negotiations that resolved the long-running northeastern border dispute between the United States and Great Britain and served for four years as the American consul in Rio de Janeiro. The foremost Whig in Maine state politics and later a Republican judge, Kent articulated classic Whig political views and carried them forward into his Whig-Republican jurisprudence. In examining Kent's career as Maine's quintessential Whig, An Exemplary Whig reveals his characteristically conservative Whig outlook, including an aversion toward disorder and a deep respect for law, for existing institutions, and for the wisdom of experience. Kent brought his conservative disposition into the Republican Party. He had no use for radical abolitionism, preferring moderation and compromise to measures that endangered social order or the integrity of the Union. Kent saw the "slave power," not abolitionism, as the disrupter of the Union, and he urged the "fusion" of all antislavery elements into a new Republican party. In 1859, Maine's Republican governor appointed Kent to the state supreme court. During his fourteen-year tenure, Kent adopted a Whiggish jurisprudence, pragmatic and commonsensical, and displayed a reverence for the common law and a distrust of "theoretic speculation." After his retirement, he chaired a constitutional revision commission, admonishing his fellow commissioners to bear in mind the "practical wisdom" that kept dangerous innovation in check. As a politician during the Jacksonian era, Kent exemplified Whig leadership at the local and state levels. In his jurisprudence, he carried the Whig persuasion into the Republican ascendancy and the beginnings of the Gilded Age.

John Appleton was a prominent American lawyer who practiced in and around Bangor, Maine, beginning in the early 1820s and earned a national reputation as Chief Justice of Maine's supreme court. Through a study of Appleton's life and thought, Gold shows how the commitment to individual liberty and personal responsibility helped shape nineteenth-century American law. By tracing Appleton's life and law practice, the book addresses an aspect of early American culture that has received little attention--the nature of American individualism as embodied in the law. The book contributes to American legal historiography in other ways. It is one of just a handful of serious studies of state judges. It adds to the current revisionist interpretation of laissez-faire constitutionalism. Finally, it sheds light on some little studied areas of legal history, in particular the history of the law of evidence. Recently some historians have recognized that law in the nineteenth century incorporated broadly held social values or world-views, and a few have written on the relationship between law and individualism. Gold contends these scholars have associated American individualism with self-reliance in the nineteenth century and nonconformity in the twentieth. Gold shows there is another side to individualism with self-reliance in the nineteenth century and nonconformity in the twentieth. Americans lived in society, therefore, their relations with one another had to be ordered. While they believed in freedom of action, they also believed that individuals had to be responsible for the effects of their actions on others. The book is ideal reading for all students of American legal history in particular and American history in general.