| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w21572
|
| 来源ID | Working Paper 21572
|
| Banks, Politics, and Political Parties: From Partisan Banking to Open Access in Early Massachusetts |
| Qian Lu; John Joseph Wallis
|
| 发表日期 | 2015-09-21
|
| 出版年 | 2015
|
| 语种 | 英语
|
| 摘要 | The United States was the first nation to allow open access to the corporate form to its citizens. The state of Massachusetts was not only one of the first states to provide its members with legally sanctioned tools to create organizations and enable open access but, on a per capita basis, had many more banks and other corporations than other states as early as the 1820s. Nonetheless, Massachusetts did not open access easily. This paper documents that until 1812, bank charters were only available to members of the Federalist Party in Massachusetts. When the Democratic-Republicans gained control of the state legislature and governor’s mansion in 1811-12, they chartered two new Democratic-Republican banks and threatened to eliminate most of the Federalist bank. The paper documents the close association of politicians and bankers. Before 1811, close to three-quarters of all the bankers we can identify had been or would eventually become a state legislator. The evolving relationships between politics and banking, the eventual opening of banking, and the wealth of bankers are tracked into the 1850s. |
| 主题 | Financial Economics
; Financial Institutions
; History
; Macroeconomic History
; Development and Growth
; Development
; Country Studies
|
| URL | https://www.nber.org/papers/w21572
|
| 来源智库 | National Bureau of Economic Research (United States)
|
| 引用统计 |
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| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579247
|
推荐引用方式
GB/T 7714 |
Qian Lu,John Joseph Wallis. Banks, Politics, and Political Parties: From Partisan Banking to Open Access in Early Massachusetts. 2015.
|
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