Patterns of American Railroad Finance, 1830–50

  title={Patterns of American Railroad Finance, 1830–50},
  author={Alfred Dupont Chandler},
  journal={Business History Review},
  pages={248 - 263}
  • A. Chandler
  • Published 1 September 1954
  • History, Economics
  • Business History Review
When American railroad promoters, in the years immediately after 1830, had to look beyond their own regions for capital, they turned first to Broad Street in Philadelphia, where Nicholas Biddle and his associates served as the agents for marketing vast amounts of sterling bonds in London. This mechanism was disrupted by the failure of the Bank of the United States of Pennsylvania in 1841. Then State Street in Boston became the center, and common stock became the chief instrument, of American… 
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John Jacob Astor, business man
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