Origins of Commercial Banking in America, 1750-1800

Overview

The nature of America's early economy has been hotly contested for several decades. Historians have often focused on the question of when America became 'capitalist,' while economists have tried to determine when American economic growth sped up. In The Origins of Commercial Banking in America, Robert E. Wright argues that the ultimate causes of American economic development and transformation into a modern society can be reduced to the causes of American banking. In the first full analysis of the origins of ...

See more details below
Paperback
$27.90
BN.com price
(Save 17%)$33.95 List Price
Other sellers (Paperback)
  • All (4) from $23.35   
  • New (4) from $23.35   
Sending request ...

Overview

The nature of America's early economy has been hotly contested for several decades. Historians have often focused on the question of when America became 'capitalist,' while economists have tried to determine when American economic growth sped up. In The Origins of Commercial Banking in America, Robert E. Wright argues that the ultimate causes of American economic development and transformation into a modern society can be reduced to the causes of American banking. In the first full analysis of the origins of American commercial banking since Bray Hammond's monumental study forty-five years ago, Wright skillfully examines the political and economic forces that contributed to the origins and rise of banks in cities such as Philadelphia, New York, and Boston, as well as in smaller towns servicing rural America. Wright expertly assesses the impact of the war for independence, Superintendent of Finance Robert Morris' policies under the Confederation, the economic and political effects of the postwar depression of 1784-86, the attempts of the Constitutional Convention of 1787 to address the country's economic problems, and Secretary of the Treasury Alexander Hamilton's financial program under the new Constitution. Wright looks at both the macro and micro sides of issues—how state and national governments addressed problems and chartered (and sometimes unchartered banks) as well as how private individuals tried to cope with the need to obtain capital and the effects on them of early bankruptcy laws. He describes the varied and sometimes arcane financial and commercial instruments that existed both before and after the establishment of banks, and how they fostered economic development. We are introduced to an emerging capitalist system struggling to provide capital needed by America's voracious economy. The Origins of Commercial Banking in America is essential reading for anyone interested in the political and economic origins of the early republic.

Read More Show Less

Editorial Reviews

Eh.Net
This volume stands as the new starting point for gaining an understanding of the evolution of U.S. commercial banking. By revising the analytical model for all subsequent historians who embark on an examination of the origins of U.S. commercial banking, Robert Wright has made a major scholarly contribution.
— Edwin J. Perkins
CHOICE
Recommended for graduate and research collections.
Journal Of Economic History
The many useful facts and characterizations of early American banking make this book a significant contribution.
Business History Review
A welcome addition to this ongoing research effort. His extensive archival and secondary research enables Wright to paint a penetrating portrait of the development of one aspect of the nation's early financial history—commercial banks—and demonstrate that their appearance played a central role in the economic and social changes that swept Revolutionary America....The Origins of Commercial Banking is an impressive work that deserves a wide audience among historians of early America's economic and social life.
American Historical Review
This work is recommended for economic historians interested in financial and banking history and the revolutionary period.
Enterprise & Society
Wright. . . carefully recounts the political battles between rising middling entrepreneurs and established commercial interests over what kinds of institutions they wished to create.
Journal of American History
One of the strengths of this book of this book is that it approaches its subject by looking at the colonial economy and the impact of the Revolution. This work argues persuasively that illiquidity defied the colonial economy. This is a very useful study of early mercantile practice and the origins of commercial banking.
Journal Of American History
One of the strengths of this book of this book is that it approaches its subject by looking at the colonial economy and the impact of the Revolution. This work argues persuasively that illiquidity defied the colonial economy. This is a very useful study of early mercantile practice and the origins of commercial banking.
H-Net: Humanities and Social Science Reviews Online
This volume stands as the new starting point for gaining an understanding of the evolution of U.S. commercial banking. By revising the analytical model for all subsequent historians who embark on an examination of the origins of U.S. commercial banking, Robert Wright has made a major scholarly contribution.
— Edwin J. Perkins
Choice
Recommended for graduate and research collections.
Journal of Economic History
The many useful facts and characterizations of early American banking make this book a significant contribution.
H-Net: Humanities and Social Science Reviews Online - Edwin J. Perkins
This volume stands as the new starting point for gaining an understanding of the evolution of U.S. commercial banking. By revising the analytical model for all subsequent historians who embark on an examination of the origins of U.S. commercial banking, Robert Wright has made a major scholarly contribution.
Read More Show Less

Product Details

  • ISBN-13: 9780742520875
  • Publisher: Rowman & Littlefield Publishers, Inc.
  • Publication date: 8/21/2001
  • Pages: 224
  • Product dimensions: 5.86 (w) x 8.90 (h) x 0.51 (d)

Meet the Author

Robert E. Wright teaches at the University of Virginia.

Read More Show Less

Table of Contents

Chapter 1 Introduction Chapter 2 Colonial Finance and the Lack of Liquidity, 1750-1775 Chapter 3 Revolutionary Change, 1750-1783 Chapter 4 Three Key Crises, 1783-1787 Chapter 5 Banking and Business in the 1790s and Beyond Chapter 6 Businessmen and Banking, 1790-1800 Chapter 7 Conclusion

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted January 13, 2002

    Enlightening Business History

    Wright earnestly dispels the notion, which I learned in college just a few years ago, that early Americans were not much interested in business or economics. He shows that early banks were generally well-managed institutions that greatly aided the economy.

    Was this review helpful? Yes  No   Report this review
Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)