Chapter

Money, Money, Money

in The First Wall Street

Published by University of Chicago Press

Published in print December 2005 | ISBN: 9780226910260
Published online March 2013 | e-ISBN: 9780226910291 | DOI: http://dx.doi.org/10.7208/chicago/9780226910291.003.0004
Money, Money, Money

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This chapter discusses Philadelphia's role in early American monetary systems; its central, savings, and investment banks; and its insurers. In short, the financial revolution ushered forth a stable monetary system. In the colonial period, Philadelphia set the standard for quality government paper money. During and after the revolution, it led the charge to bank money, and by the 1790s, was also home of the U.S. Mint. Though essentially a failure until the California gold rush, the Philadelphia Mint coined most of the slim stock of U.S. coins. The chapter focuses on three types of money: money (bills of credit), money (bank liabilities), and money (coins). Philadelphia had financial markets and institutions.

Keywords: money; investment banks; markets; financial institutions; government; Philadelphia

Chapter.  10157 words. 

Subjects: History of the Americas

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