Financial History Issue 117 (Spring 2016) | Page 6
THE TICKER MUSEUM NEWS
The Past, Present and Future of the Museum
bring this message to life through our
interpretation of the story. We believe the
way to explain this is through three major
components (the three Ps): Public, Private
and Personal Finance.
The Public Finance component will
explain how the nation funded incredible advancements — from the Louisiana
Purchase to the space program — and will
also explore and bring to life
the current amalgam of debt
in the country. The Private
Finance track will explain
how companies are funded
David J. Cowen | President and CEO
through debt and equity,
the history of exchanges and
symbolically and financially to the next
how that has led to growth, while at the
generation of supporters.
same time highlighting the various areas
As we begin to think about the next
of free enterprise including real estate, life
chapter in the Museum’s life, Chairman
Richard Sylla has created a “Committee
of the Future” comprised of key members
of our Board and staff. While we all enjoy
the architectural beauty and historical relevance of our home at 48 Wall Street, we
realize that we may need to vacate this
space in the near future, as our lease will
expire in 2021.
While five years may seem like a long
lead time, in the museum world it is not.
The Committee will be working on finding a more permanent home, while at the
same time creating an overall plan and
blueprint for what the Museum could be.
Our goal is to ensure that after engaging with the exhibits, visitors leave with
an understanding of the importance of
finance-led growth to the American economy that is created by our free enterprise
system. Unlike an art museum, where
the works speak for themselves, we must
Message to Members
insurance and entrepreneurship. Lastly,
the Personal Finance section will be dedicated to personal financial literacy — savings, budgeting, mortgages, etc. Finance is
an important part of our lives but, sadly,
as a nation we are financially illiterate.
In addition to the core exhibits, we
envision a high tech and engaging currency exhibit, timely temporary exhibits,
expanded programming and interactive
teaching capability to reach classrooms
throughout the nation. I hope you can see
why the Committee is excited.
Of course, this new vision will take time
and money. John Herzog has given us a
head start, and now it is up to all of us to
take the Museum to the next level. The
Board, staff and I are looking forward to
that challenge.
Alan Barnett
Today I write to you about the past, the
present and the future of the Museum. As
you can see from the photograph below,
John Herzog has made a final major gift
to the institution he founded some three
decades ago. John, the staff and the Board
can take pride in the enormous progress
the Museum has made since then. With
this final gift, John is passing the torch
John Herzog hands a check representing his final major gift to the Museum to
Chairman Richard Sylla and President David Cowen at an event on May 17.
MAY 7
1825
The first known buying frenzy for an
American IPO is reported, as the Bank of
Southwark goes public on the Philadelphia
Stock Exchange.
4 FINANCIAL HISTORY | Spring 2016 | www.MoAF.org
MAY 9
1901
As competing bull and bear factions
try to corner the market in Northern
Pacific Railway stock, the shares hit
$1,000 — up from $96 five weeks earlier.