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Jay Cooke

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The Northern Pacific Railway.

How One Robber Baron's Gamble on Railroads Brought Down His Bank

In 1873, greed, speculation and overinvestment in railroads sparked a financial crisis that sank the U.S. into more than five years of misery.
by Mickey Butts via Smithsonian on September 18, 2023
Political cartoon of the Lincoln Administration, reading "Running the 'Machine'", 1864.

Blues, Grays & Greenbacks

How Lincoln's administration financed the Civil War and transformed the nation's decentralized economy into the global juggernaut of the postwar centuries.
by Nicholas Guyatt via New York Review of Books on May 4, 2023
Vice President Harris at the Freedman’s Bank Forum in Washington on Oct. 4.
partner

The Freedman’s Bank Forum Obscures the Bank’s Real History

The bank’s history highlights flaws in using public-private partnerships to address racial inequality.
by Justene Hill Edwards via Made By History on October 27, 2022
Federal Reserve Note featuring Salmon Chase held by the National Numismatic Collection, National Museum of American History

The War with Inflation and the Confederacy

During the Civil War, the Lincoln administration demonstrated that a progressive agenda and effective anti-inflationary measures could overlap.
by Andrew Donnelly via Public Books on September 20, 2022
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