Harvard and Fordham . In addition , students who wish to pursue careers in other disciplines can follow their passion in programs offered by all 15 schools .
• Academy of St . Joseph ( Brentwood , NY )
• Blair Academy ( Blairstown , NJ )
• Fordham University ( New York , NY )
• The Groton School ( Groton , MA )
• The Johns Hopkins University ( Baltimore , MD )
• Harvard College ( Boston , MA )
• Massachusetts Institute for Technology ( Boston , MA )
• Middlebury College ( Middlebury , VT )
• The Knot School Corporation ( Kent , CT )
• Columbia University , in Memory of Nicholas Murray Butler ( New York , NY )
• St . Paul ’ s School ( Concord , NH )
• The Stevens Institute of Technology ( Hoboken , NJ )
• University of Vermont ( Burlington , VT )
• Vassar College ( Poughkeepsie , NY )
• Yale University ( New Haven , CT )
Civic Duty
“ Those to whom I loaned my money got it at six percent . I might just as easily have secured forty percent . But never in my life , no matter what has been said against me , have I practiced usury , and no one knows it better than the wealthy men who have had business dealings with me .”
— Hetty Green
An especially unfair criticism of Hetty Green was that she had a callous disregard for her civic responsibility . Critics often cited her thrift as evidence of selfishness . The truth , however , is that her thrift enabled her to amass substantial cash reserves , which she frequently deployed generously to rescue individuals , financial institutions and even city governments when cash was scarce . Such situations emerged frequently in the late 1800s and early 1900s because the United States lacked a central bank to serve as a lender of last resort .
Despite Hetty ’ s unique ability to provide aid in troubled times , she refused to abuse her position . During financial panics , she could have demanded exorbitant rates of interest on emergency loans . Instead , she prioritized the well-being of society and charged far less than what borrowers were willing to pay . Hetty ’ s most memorable rescue occurred during the Panic of 1907 . Her keen sense for the ebbs and flows in the money supply enabled her to foresee the arrival of the crisis long before her peers . For more than a year , she stockpiled cash . When individuals and institutions desperately approached her for loans at the height of the panic , she lent freely and at interest rates far below market . Her preparedness and wisdom earned her an invitation to one of the most important meetings organized by J . Pierpont Morgan . She was the only woman in attendance .
The next cohort of beneficiaries honors Hetty Green ’ s commitment to fulfilling her civic duty . The list includes seven institutions that continue to serve the public interest today .
• Florence Crittenton League , Inc . ( New York , NY )
• Honor Emergency Fund of the Fire Department of the City of New York ( New York , NY )
• Police Relief Fund , Inc . ( New York , NY )
• Seamen ’ s Church Institute of New York ( New York , NY )
• Sheltering Arms Children ’ s Service ( New Bedford , MA )
• The Legal Aid Society ( New York , NY )
• The New York Association for the Blind ( The Lighthouse ) ( New York , NY )
Discreet Charity
“ God has been good and kind to me , why shouldn ’ t I be good and kind to others ?”
— Hetty Green
Hetty Green bore the moniker of the “ Witch of Wall Street ” even though historical evidence paints a different picture . Ironically , her refusal to publicize her generosity explains , in part , why the misperception has persisted for so long . The few who knew Hetty Green on a personal level , however , recognized that the public perception bore no resemblance to the real woman . Residents who lived in boarding houses with Hetty recalled a kind , funloving and charitable woman . Neighbors who suffered illnesses remember her as a selfless caregiver who nursed them back to health and demanded nothing in return . Distant acquaintances who fell on hard times were surprised to find unlabeled envelopes stuffed with desperately needed funds under their doors . Hetty never took credit for the gifts , but most people correctly guessed the origin .
Hetty Green ’ s acts of kindness sometimes rose to the level of heroism . For example , while residing in London , she witnessed a bleeding man lying on the ground after falling from a cart . Onlookers seemed willing to watch him bleed out , but Hetty leapt into action , bandaged the man ’ s wounds and quite possibly saved his life . Back in the United States , Hetty was once traveling on a train that experienced a deadly derailment . Ignoring her own shock , Hetty assisted a surgeon with the gruesome task of amputating a passenger ’ s leg at the scene of the accident .
Recognizing Hetty Green ’ s discreet charity and acts of heroism makes it fitting that the last cohort of beneficiaries is also the largest . It includes a diverse array of 37 faith-based organizations , hospitals and charitable institutions . These organizations continue to leverage the wealth of Hetty Green to improve the lives of those in need .
Faith-Based Organizations
• Christ Protestant Episcopal Church ( Greenwich , CT )
• Church of the Incarnation ( New York , NY )
• General Theological Seminary ( New York , NY )
• Immanuel Protestant Episcopal Church ( Bellows Falls , VT )
• NY Monthly Meeting of the Religious Society of Friends ( New York , NY )
• St . Ann ’ s Church ( Brooklyn , NY )
• St . Bartholomew ’ s Church ( New York , NY )
• St . George ’ s Church ( New York , NY )
• St . James Church ( New York , NY )
• St . Peters Protestant Episcopal Church ( Morristown , NJ )
www . MoAF . org | Winter 2025 | FINANCIAL HISTORY 13