Hagley History Hangout

Hagley Museum and Library

Podcast by Hagley Museum and Library

  1. Jul 6

    Credit to the Nation: Jewish Immigrant Bankers in American Finance 1873-1930 with Rebecca Kobrin

    In this episode of the Hagley History Hangout, Roger Horowitz interviews Rebecca Kobrin about her new book, Credit to the Nation: Eastern European Jewish Immigrant Bankers and American Finance 1873-1930. From the publisher: "What are immigrants to do when business opportunities abound in their new home, but banks refuse essential financial support? How could they make the journey in the first place without helping hands? In this lively history, Rebecca Kobrin chronicles the turn-of-the-twentieth-century Jewish immigrants who stepped up by doing the lending themselves. Arriving from the Russian Empire and settling primarily in New York, they made livelihoods by assisting fellow Jews so they could purchase passage to the United States and, after arriving, obtain credit that other lenders would not dare provide. "Credit to the Nation traces the novel practices of bankers who not only enabled the flourishing of American Jewry but also revolutionized the US financial industry. Drawing on previously unexamined archival materials in Russian, Yiddish, German, and English, Kobrin tells a story that is also crucial to the history of New York, as immigrant bankers’ financing of real estate transformed wide swathes of the city. Lenders drove a boom in the prices of tenement buildings, but heavy speculation eventually precipitated the downfall of immigrant banking. Kobrin notes in particular the case of the Bank of United States—a private lender catering primarily to Jewish businessmen—which the Federal Reserve refused to bail out from bankruptcy in 1930. "Immigrants’ grasping for credit, and the rise and fall of immigrant banks, gave way to a contemporary banking industry that, ironically, refuses credit to today’s immigrants. Kobrin reminds us that now, as before, the denial of credit pushes entrepreneurial Americans into unregulated money-lending and the trap of endless debt." For more Hagley History Hangouts, and information on the Center for the History of Business, Technology, and Society at the Hagley Museum and Library, visit us online at hagley.org. To make a donation underwriting this program and others like it please visit our donations page: https://host.nxt.blackbaud.com/donor-form/?svcid=tcs&formId=c2f4e3f6-2d8a-4251-9a8b-cfdea1fe0e4a&envid=p-wYaPX570-EiMzBCsCu8rSg&zone=usa

    Credit to the Nation: Jewish Immigrant Bankers in American Finance 1873-1930 with Rebecca Kobrin
  2. Apr 27

    Gilded Age Entrepreneur: The Curious Life of American Financier Albert Benton Pullman with Simon Cordery

    Iowa State University historian Simon Cordery talks about his recently published biography of Albert Pullman with Hagley’s Ben Spohn. From the publisher: “Simon Cordery's Gilded Age Entrepreneur illuminates the fascinating and chaotic business world of Albert Pullman. The influential but little-known older brother of George Pullman and the craftsman of the family, Albert designed the first luxurious Pullman railroad cars and hosted promotional trips to show them off. In those heady early days, he met national business and political leaders and hired the first Pullman porters. “Albert and George made a formidable team, but as the Pullman Company grew, Albert's role shrank. He turned to his own investment portfolio, often with disastrous results. Beginning with the industrial laundry that cleaned sleeping-car linens, Albert appeared before the Supreme Court after a catastrophic insurance investment, ran afoul of federal banking regulations, and failed in an attempt to corner wheat futures. With evermore unsuccessful speculations, Albert was tempted by extralegal land sales and entered the silver-mining game. Finally, his own family in crisis and his relationship with George shattered, Albert Pullman launched into one last round of adventurous investments with mixed results. “Gilded Age Entrepreneur demonstrates that Albert Pullman embodied the small-time investors who were legion after the Civil War. From banking and insurance to manufacturing and mining, a host of hopeful dreamers like Albert Pullman fueled the circulation of capital by forging political connections, creating and losing businesses, issuing shares, and longing for profit.” For more Hagley History Hangouts, and more information on the Center for the History of Business, Technology, and Society at the Hagley Museum and Library, visit us online at hagley.org.

    Gilded Age Entrepreneur: The Curious Life of American Financier Albert Benton Pullman with Simon Cordery

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4.6
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9 Ratings

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Podcast by Hagley Museum and Library

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