This chapter, titled "The Contribution of 'A Monetary History of the United States, 1867-1960' to Monetary History," by Michael D. Bordo, evaluates the significant impact of Milton Friedman and Anna J. Schwartz's seminal work, *A Monetary History of the United States, 1867-1960*. The book, published in 1963, is praised for its comprehensive and rigorous analysis of U.S. monetary history, setting a new standard for monetary history writing. It combines economic theory with historical data to explain the relationship between money supply and economic variables, particularly nominal income, real income, and the price level. The chapter highlights the book's enduring influence, noting that it has become a classic reference in the field of monetary economics and economic history. It discusses the book's contributions to modern quantity theory research, where it provides empirical evidence supporting the modern quantity theory of money, which posits that changes in the money supply lead to corresponding changes in nominal income, with long-term effects on the price level. The chapter also delves into the book's interpretation of U.S. monetary history, covering key episodes such as the greenback episode, the gold standard period, and the Federal Reserve's role in the Great Depression. It examines the book's analysis of monetary disturbances, including banking panics and the Great Contraction of 1929-1933, and the subsequent literature that has built upon and critiqued these interpretations. Key debates and critiques are discussed, such as the role of banking panics in economic contractions, the causes of the Great Contraction, and the effectiveness of monetary policy during this period. The chapter concludes by evaluating the book's legacy in shaping research on monetary history and its enduring relevance in the field.This chapter, titled "The Contribution of 'A Monetary History of the United States, 1867-1960' to Monetary History," by Michael D. Bordo, evaluates the significant impact of Milton Friedman and Anna J. Schwartz's seminal work, *A Monetary History of the United States, 1867-1960*. The book, published in 1963, is praised for its comprehensive and rigorous analysis of U.S. monetary history, setting a new standard for monetary history writing. It combines economic theory with historical data to explain the relationship between money supply and economic variables, particularly nominal income, real income, and the price level. The chapter highlights the book's enduring influence, noting that it has become a classic reference in the field of monetary economics and economic history. It discusses the book's contributions to modern quantity theory research, where it provides empirical evidence supporting the modern quantity theory of money, which posits that changes in the money supply lead to corresponding changes in nominal income, with long-term effects on the price level. The chapter also delves into the book's interpretation of U.S. monetary history, covering key episodes such as the greenback episode, the gold standard period, and the Federal Reserve's role in the Great Depression. It examines the book's analysis of monetary disturbances, including banking panics and the Great Contraction of 1929-1933, and the subsequent literature that has built upon and critiqued these interpretations. Key debates and critiques are discussed, such as the role of banking panics in economic contractions, the causes of the Great Contraction, and the effectiveness of monetary policy during this period. The chapter concludes by evaluating the book's legacy in shaping research on monetary history and its enduring relevance in the field.