In recent months Dr. Tiemann has focused his research into economic and banking history on the California Gold Rush. He plans to produce a series of articles 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 he 1840s, who dealt with those handicaps by becoming, in effect, his own banker.
Topics & Details
- Tags - "Two Years Before the Mast", Alta California, California History, crypto-currencies, Gold Rush, money creation, Nathan Spear, Pro-Gold Rush, rancheros, ranchos, Richard Henry Dana Jr., Stephen Smith, the first black millionaire, William A. Leidesdorff, William Davis, Yerba Buena
- Categories - Banking, Crypto-currency, Economics, Gold, Gold Standard, Government Credit, Monetary Policy, Money, Notes, Technology, Trading & Commerce
- Download the PDF: - Banking Without Banks
- Copyright © 2002-2017 - Tiemann Investment Advisors, LLC