The Mismanagement of the Freedman’s Bank
An institution whose whole purpose had been to safeguard the money of the country’s poorest ended up destroying it.
Browsing: From the Vault
Set Up to Fail
The tie-breaking vote that broke the early American banking system.
J.P. Morgan to the Rescue
It had been a near-run thing but the Panic of 1907 subsided—and the crisis had one positive outcome.
Bonus Podcast: Bankers and the Founding of the United States
To mark Independence Day this week, this bonus episode of the ABA Banking Journal explores the role of banking and finance in the American Revolution and the founding era.
How a ‘Generous Skinflint’ Restored America’s Fiscal Reputation
Having devoted his entire adult life to accumulating one of the great fortunes of the age—while spending as little as possible in the process—George Peabody spent his last decade giving it away.
Making It in America
When we think of Gilded Age bankers, we tend to think of top-hatted men with names like Morgan, Stillman and Peabody. But there is one conspicuous exception: Amadeo Peter Giannini.
J.P. Morgan, Railroad Referee
Bankers do a lot more than just accept deposits, make loans and underwrite securities. They give advice, warn clients against dangerous strategies—and even sometimes act as referees.
How Credit Cards Fueled Global Economic Growth
By greatly facilitating transactions, William Boyle’s credit card helped the global economy to grow, and benefited bankers, merchants and customers alike.
The Circus Bank
The traveling Hagenbeck-Wallace Circus was famous for its humane animal acts. It was also famous for its bank.
Stephen Girard: The Banker Who Saved America
Philadelphia financier Stephen Girard risked his fortune to save the republic in the War of 1812.