• Thought of the Day

    Thought of the Day

    2000: A Man [is] sometimes more generous when he has but a little Money than when he has plenty, perhaps thro Fear of being thought to have little.

    –Benjamin Franklin, The Autobiography of Benjamin Franklin (Yale, 1964), p. 75.

Today in Financial History

1852: Wells, Fargo & Co. is founded in San Francisco and Sacramento by Henry Wells and William G. Fargo to convert gold dust into cash for miners, as well as to transport and safeguard letters, gold nuggets and other valuable byproducts of the California Gold Rush.

1787: The U.S. Congress creates the Northwest Territory, authorizing the distribution of land to the Eastern settlers who have made their way over the Alleghany Mountains into Ohio. With its rich farmland, coal deposits, and excellent waterways, Ohio soon becomes one of the economic powerhouses of the Union.