Eric Foner Quote
The minimum capital requirement of $50,000 and a proviso barring national banks from holding mortgages on land restricted these institutions to large cities. The system both promoted the consolidation of a national capital market essential to future investment in industry and commerce and placed its control firmly in the hands of Wall Street.
Eric Foner
The minimum capital requirement of $50,000 and a proviso barring national banks from holding mortgages on land restricted these institutions to large cities. The system both promoted the consolidation of a national capital market essential to future investment in industry and commerce and placed its control firmly in the hands of Wall Street.
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