Financial History 158 Fall 2026 | Page 5

IN THIS ISSUE
▶ By David Cowen, President and CEO
▶ By Gregory DL Morris
▶ By Brian Grinder and Dan Cooper
▶ Reviewed by Robert E. Wright 1873: The Rothschilds, the First Great Depression, and the Making of the Modern World, by Liaquat Ahamed
▶ Reviewed by James P. Prout

IN THIS ISSUE

4 Message to Members

▶ By David Cowen, President and CEO

DEPARTMENTS

ON THE COVER

Textile worker in the Berkshire Cotton Mills, 1916. See related article, page 16.
5 Museum News
The Museum marks the 50th anniversary of the first index fund available to individual investors with a display of the original certificate from the First Index Investment Trust( today the Vanguard 500 Index Fund).
7 Connecting with Collections
The Voice of Reason: John Quincy Adams Letter to His Nephew, 1830

▶ By Gregory DL Morris

8 Educators’ Perspective
Milton S. Hershey( Part 1): Chocolatier, Risk-Taker, Gambler

▶ By Brian Grinder and Dan Cooper

38 Book Reviews
Coding Capitalism: Computers and the Remaking of the Postwar US Economy, by Devin Kennedy

▶ Reviewed by Robert E. Wright 1873: The Rothschilds, the First Great Depression, and the Making of the Modern World, by Liaquat Ahamed

▶ Reviewed by James P. Prout

41 Trivia Quiz
TRUSTEES
Peter A. Cohen, Chair Andover National Corporation
Andrea de Cholnoky, Co-Vice Chair Golden Seeds
Karen Gephardt, Co-Vice Chair Fusion Partners
Sanford Crystal, Treasurer Alliant Insurance Services, Inc.
Alvi Abuaf Motive Partners Private Equity
Sabrina Bailey Fiducient Advisors
Gregory Bauer Moody’ s( retired)
Douglas Cifu Virtu Financial
Marcy Cohen ING Americas
Wendy M. Cohn Fitch Ratings
David J. Cowen, President / CEO Museum of American Finance
Lawrence A. Cunningham University of Delaware
Patrick Curtin Citi
Ric Edelman Digital Assets Council of Financial Professionals
Charles Elson University of Delaware
Eileen Fahey Fitch Ratings( retired)
Martin Fridson Lehmann, Livian, Fridson Advisors LLC
Adam Goldstein Archer Aviation
Martha Clark Goss American Water Works
Kirk Haldeman J. P. Morgan Chase & Co.
Carol Kaimowitz Retired Insurance Executive
Glenn Kaufman Kaufman Family LLC
Ranch Kimball Glorious Cahoots Capital Partners
Mitti Liebersohn Savills
Consuelo Mack WealthTrack
Joseph Mecane Citadel Securities
Jorge Nario Fidelity Center for Applied Technology( FCAT)
Anders Nemeth Oliver Wyman
Eamon Nolan Vinson & Elkins
Lynn O’ Mealia Loudon Investment Management
Elizabeth O’ Melia ProCFO Partners
Chris Perry Broadridge
Matthew Perconte Protiviti
Brad Peterson Nasdaq
Bob Pisani CNBC
Scott Reddel Accenture
Robert Robotti Robotti & Company
Mark Shenkman Shenkman Capital Management, Inc.
David L. Shuler Varro Life Sciences
Nick Smit ING
Richard Sylla New York University
Richard Vague Former Secretary of Banking and Securities, Pennsylvania
Dan Veru Palisade Capital Management
Charles Wait The Adirondack Trust Company
John E. Herzog, Chairman and Trustee Emeritus
www. MoAF. org | Fall 2026 | FINANCIAL HISTORY 3