Financial
history
The magazine of the Museum of American Finance
in association with the Smithsonian Institution
Issue 137 • Spring 2021 ( ISSN 1520-4723 )
Kristin Aguilera Editor
EDITORIAL ADVISORY BOARD
Howard A . Baker , Esq . Howard Baker Associates Lawrence A . Cunningham The George Washington University Brian Grinder Eastern Washington University Gregory DL Morris Freelance Journalist Susie Pak St . John ’ s University Arthur W . Samansky The Samansky Group Myles Thompson Columbia Business School Publishing Janice Traflet Bucknell University Robert E . Wright American Institute for Economic Research Jason Zweig The Wall Street Journal
ART DIRECTION Alan Barnett Design
MUSEUM STAFF David J . Cowen , President / CEO Kristin Aguilera , Deputy Director Robert Dinkelmann , IT / Technology Maura Ferguson , Director of Exhibits Sarah Poole , Collections Manager
Linda Rapacki , Managing Director of Visitor Services and Operations
Mindy Ross , Director , External Relations Ben Urizar , Assistant Director of Visitor Services
Copyright © 2021 by the Museum of American Finance , publisher . All rights reserved .
Financial History is the official membership magazine of the Museum of American Finance .
IN THIS ISSUE
10 A New History of Financial Bubbles
Can the “ bubble triangle ” predict when the next bubble will burst ?
By William Quinn
14 Industrial Slavery
Much written on slavery in North America has focused on agricultural slaves on southern plantations , but bondspersons were also often vital to the day-to-day operations of transportation industries and mining operations before the Civil War .
By Ramon Vasconcellos
20 Lincolnomics
How President Lincoln financed the future of America .
By John F . Wasik
24 Irving Kahn : Value Investor for the Ages
A look at the life and legacy of one of the founding fathers of value investing .
By James Russell Kelly
28 Morgan and Schiff : America ’ s Indispensable Bankers
The intersecting lives of noted Gilded Age bankers , rivals and philanthropists J . P . Morgan and Jacob Schiff .
By Edward Morris
32 An Early Effort to Corral the Colorado
The infrastructure series continues with the development of the Hoover Dam and other early attempts to harness the power of the Colorado River .
By Michael A . Martorelli
37 Where Are They Now ?
The Museum ’ s series on 207 of the underwriters of the 1956 Ford IPO continues with the history of Baker , Weeks & Co . ( founded in New York in 1953 ).
By Susie J . Pak
FEATURES
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