Incredible Artifacts From New York Banking
History
Julia La Roche for
Business Insider |
Have you ever wondered how New York City became
a global financial powerhouse?
The Museum of the City of New York has just
unveiled its "Capital of Capital: New York
City Banks and the Creation of a Global
Economy" exhibit explaining how this happened.
This new exhibit, which commemorates the
200th anniversary of Citigroup, takes visitors
through the rise of NYC's banks from an early
source of credit for local merchants to the
global financial center they make up today.
We checked out the exhibit yesterday and it
has some pretty cool historic documents and
artifacts. We've included some highlights in
the slides that follow.
This is Bank of New
York’s ledger book containing the accounts of
George Washington.
Source: Capital of Capital
This might look like a
strange log, but it's actually a section of
water pipe installed in 1799 from Aaron Burr’s
Manhattan Company (the predecessor of today’s
Chase).
Source: Capital of Capital
This is the 1812 minute
book with notes from the first meeting of the
Board of Directors of the City Bank of New
York, which is of course today's Citi.
Source: Capital of Capital
Between the American
Revolution and the Civil War there was no
national paper currency so private banks
issued notes providing a “medium of exchange”
for the mercantile economy.These are
counterfeit three dollar Chemical Bank notes
from 1830. Notice the intricate detailing.
Source: Capital of Capital
After the Civil War,
investment banks began to rise as underwriters
for massive infrastructure projects. These are
examples of bank stocks.
Source: Capital of Capital
This 1922 Savings Bank
Machine is a precursor to an ATM. However,
it's not certain where it was installed or if
it was ever used other than just a novelty. It
worked by a user depositing coins in the
machine and a receipt would come out. The user
would then write their account number on half
of the receipt and deposit it back in the
machine by opening the horizontal door and
slipping it through the slot. Pretty neat!
Julia La Roche for
Business Insider
Source: Capital of Capital
Of course, famed
financier J.P. Morgan is featured in the
exhibit. That's an old magazine cover he
graced.
Source: Capital of Capital
This is a vintage ticker
tape machine which printed out stock prices.
Source: Capital of Capital
Speaking of ticker tape,
here's the one from the stock market crash of
1929.
Source: Capital of Capital
The period after World
War II, banks started issuing new consumer
products, including early credit cards. Here's
City Bank’s “Everything Card,” which launched
in 1967.
Julia La Roche for
Business Insider
Source: Capital of Capital
No this is not real gold
bullion. It's a replica gold bar inscribed
'FNCB Travelers Checks 'Better Than Money.''
It's undated and it served an an
advertisement.
Source: Capital of Capital
This vintage 1964 Citi
board game looks fun.
Source: Capital of Capital
The exhibit continues to
take the visitor through the later part of the
21st century and even through the 2008
financial crisis. In this section, the
Bloomberg Terminal even gets a shout out.
Julia La Roche for
Business Insider
Source: Capital of Capital
And so does the Occupy
Wall Street movement.
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