Banking without Banks

Banking without Banks 2018-04-13T13:41:37+00:00

Project Description

In recent months, Dr. Tiemann has been conducting research into the socio-economic and banking history of the California Gold Rush. He plans to produce a series of articles and, possibly, a book from that work. In this article, though, Dr. Tiemann examines the fascinating period just before the Gold Rush, when California’s economy suffered a severe shortage of cash and an absence of banks. Read about William A. Leidesdorff, a San Francisco merchant in the 1840s, who dealt with those handicaps by becoming, in effect, his own banker.

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3 Comments

  1. […] era.  Several of Dr. Tiemann’s previous notes, Government Credit & Money (June 2017) and Banking Without Banks (November 2017), explored the relationship between government credit and money, inquiries that […]

  2. […] era.  Several of Dr. Tiemann’s previous notes, Government Credit & Money (June 2017) and Banking Without Banks (November 2017), explored the relationship between government credit and money, inquiries that […]

  3. […] of pre-Gold Rush San Francisco in the mid-1850’s. These included James King of William and William A. Leidesdorff, who was a successful San Francisco merchant who traded all kinds of goods and was obliged to keep […]

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