IN THIS ISSUE
▶ By Diana B . Henriques
▶ By Mark Higgins
▶ By Joe Martin
▶ By James Russell Kelly
▶ By Robert E . Wright
▶ By Eric Brothers
▶ By Michael A . Martorelli
IN THIS ISSUE
FEATURES
The magazine of the Museum of American Finance
in association with the Smithsonian Institution
Issue 147 • Fall 2023 ( ISSN 1520-4723 )
Kristin Aguilera Editor
EDITORIAL ADVISORY BOARD
Howard A . Baker , Esq . Howard Baker Associates Lawrence A . Cunningham The George Washington University Peter C . Earle American Institute for Economic Research 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 © 2023 by the Museum of American Finance , publisher . All rights reserved .
Financial History is the official membership magazine of the Museum of American Finance .
10 Taming the Street : Set a Thief to Catch a Thief
Joseph P . Kennedy leads the first Securities and Exchange Commission .
▶ By Diana B . Henriques
14 A Whale of a Tale
The history of venture investing in the United States .
▶ By Mark Higgins
20 The 1907 Stringency Crisis in Canada
The Panic of 1907 is well-remembered in the United States , but its impact was far different in its neighbor to the north .
▶ By Joe Martin
24 Sandy Gottesman : A Whale of a Value Investor and Philanthropist
Profile of the First Manhattan founder and Berkshire Hathaway director who left a legacy of civic improvement , education and health projects in the United States and Israel .
▶ By James Russell Kelly
29 Liberty Lost
Examining the four key “ growth diamond ” institutions that directly led to America ’ s prosperity .
▶ By Robert E . Wright
33 The “ Insanity ” of the Susan B . Anthony Dollar
Long considered a great failure as an instrument of commerce , the SBA dollar coin finds its niche .
▶ By Eric Brothers
38 Developing the American System of Manufacturing
American entrepreneurial inventors and mechanics create a unique and effective manufacturing system in the early- to mid-19th century .
▶ By Michael A . Martorelli
2 FINANCIAL HISTORY | Fall 2023 | www . MoAF . org