Anglo-American Merchant Bankers and the Railroads of the Old Northwest, 1848-1860

Ralph W. Hidy and Muriel E. Hidy

Business History Review, 1960, vol. 34, issue 2, 150-169

Abstract: As distrust of American investments lessened, conservative international brokers allowed themselves to be drawn into an economic orbit with ever-widening western limits. Short-term credits to support an active agency business in railroad construction materials led inevitably to longer term commitments. The merchant bankers supplied the facilities for transatlantic capital exchange and by absorbing the best rail and government issues helped create an American market for all grades of railroad securities.

Date: 1960
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