Volume 22, Number 3 · March 6, 1975
Money on the Brink
By Nicholas von Hoffman
The Bankers
by Martin Mayer
Weybright and Talley, 566 pp., $15.00
The distinction of being the first bank in American history to fail goes to Farmers Exchange Bank of Glocester, Rhode Island, which departed this world in the spring of 1809. The Farmers Exchange went down because it issued bank notes which it promised to redeem in gold it did not have.
Review, 3559 words
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