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New York City Mutual Savings Banks, 1819-1861

Alan L. Olmstead

Publisher: University of North Carolina Press
Imprint: The University of North Carolina Press
Published: 07/2018
Pages: 250
Subject: History | University of North Carolina
Print ISBN: 9.78081E+12
eBook ISBN: 9781469648064


These institutions were founded ostensibly for philanthropic purposes--to encourage and reward thrift on the part of society's lower classes. For purposes of analysis, Olmstead formulates an alternative hypothesis. Men organized mutuals for the same reason that impelled their other business ventures--the hope of profit. The author focuses on the internal operations of several banks and the important role they played in financing antebellum development.

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