The Man Who Made Wall Street
Anthony J. Drexel and the Rise of Modern Finance
Résumé
With his characteristic prescience, Drexel selected Wall Street as the site for his New York branch and commissioned an opulent building, the likes of which the financial district had never seen, from which the younger Morgan could conduct business for the firm. And with Drexel's support the confused underachiever J. P. Morgan blossomed into a confident financial titan.
At a time when the United States did not have a central bank, the government as well as large-scale commercial ventures relied on financiers to raise the enormous sums of money necessary to build railroads, construct factories, and fight major wars. With branches and partnerships in London, Paris, Chicago, and New York, all benefiting from their leader's reputation for impeccable integrity, Drexel's firms were able to steer American business through the most extraordinary long-term economic growth of any nation in world history, as well as through four devastating depressions, an enlightening lesson in the cyclical nature of the U.S. economy.
Drexel and his firm quietly pioneered many of the financial and business strategies that we now take for granted, such as trading national currencies, guaranteeing credit for travelers abroad, rewarding workers based on individual initiative, and offering "sweat equity" to deserving employees who could not afford to buy stock. By cultivating Morgan's self-confidence and allowing his younger business partner to become the public face for the firm, Drexel was able to avoid attention and, instead, nurture his extended family. Today, Anthony J. Drexel's influence and accomplishments are mostly forgotten or credited to others, but after decades of detective work and careful research, Dan Rottenberg has succeeded in writing the first biography of this exceptionally influential and elusive man. Since Drexel gave no interviews, kept no diaries, held no public offices, and destroyed most of his personal papers, Rottenberg had painstakingly to track down every reference and anecdote he could find and, in the process, discovered 150 previously unknown letters and cables in Drexel's hand. Drexel believed that there is no limit to what one can accomplish if one doesn't mind who gets the credit, but as The Man Who Made Wall Street shows, the balance has finally been paid in full.
Contents
Survival
- The artist as fugitive
- The making of a currency broker
- "As good a bargain as possible"
- "A wild and reckless people"
- "The Yankees did not whip us in the field"
- The rise of George childs
- The delusions of Jay Cooke
- "A first-class businessman"
- Panic and progress
- The perils of partnership
- Railroad boom
- Reluctant titan
- Two social revolutuionaries
- the burden of conscience
- Epilogue : the death and rebirth of the house of Drexel
- Appendixes
- Notes
- Bibliography
- Index
L'auteur - Dan Rottenberg
Dan Rottenberg is the editor of Family Business magazine. He is the author of seven books and has written for Town & Country, New York Times Magazine, Forbes, Civilization, TV Guide, and Rolling Stone.
Caractéristiques techniques
| PAPIER | |
| Éditeur(s) | University of Pennsylvania |
| Auteur(s) | Dan Rottenberg |
| Parution | 20/11/2001 |
| Nb. de pages | 260 |
| Format | 16 x 23,6 |
| Couverture | Relié |
| Poids | 600g |
| Intérieur | Noir et Blanc |
| EAN13 | 9780812236262 |
| ISBN13 | 978-0-8122-3626-2 |
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