In The Origins of Commercial Banking in America, the first full analysis of the origins of American commercial banking since Bray Hammond's monumental study forty-five years ago, Robert E. 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.
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 H-Net: Humanities and Social Science Reviews Online Recommended for graduate and research collections. CHOICE The many useful facts and characterizations of early American banking make this book a significant contribution. Journal Of Economic History 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. Business History Review This work is recommended for economic historians interested in financial and banking history and the revolutionary period. American Historical Review Wright... carefully recounts the political battles between rising middling entrepreneurs and established commercial interests over what kinds of institutions they wished to create. Enterprise & Society 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