We’re back! Yes, it’s been a while since our last post and we want to thank all of you for your patience, but now we’re back in full swing and we’re starting off with a video and some pictures of our visit to the Museum of American Finance in New York.

The former hall of the Bank of New York with beautifully restored 1930’s paintings on the wall. 

Recently moved from its home on Broadway to the prestigious address of 48 Wall Street in the swanky former building of the Bank of New York, the museum holds the world’s largest public archive of financial documents and artifacts. These include such rare pieces as the first bond to ever use the $ symbol - signed by George Washington - and a letter from Isaac Newton to invest in the failed South Sea Company bubble of the 1700’s.

Washington Bond - 1792 - The first to show the $ sign

 

Isaac Newton’s letter authorizing investment in the South Sea Company

While at the museum, we met Lee Kjelleren, the CEO/President of the museum, who was kind enough to tell us a bit about the different artifacts and the direction the museum is taking to educate the public as to financial responsibility - something so important in this day and age. As a matter of fact, this museum was founded after the market crash of 1987 to remind people of history and financial risks.

To that end they have some very interesting artifacts, ranging from margin calls and ticker tapes issued in the market crash of 1929 to letters written to loved ones about the terrible state of the financial district at the time.

Ticker Tape from the day of the crash of 1929

 

Margin call from the crash of 1929

There are really so many interesting articles here that it’s impossible to list them all. Some of the other noteworthy items are the $10,000 bill, stock and bond certificates from many different time periods and places, technology from early stock ticker machines to early calculators, the Edison light bulb used for the patent application and so much more.

A prototype of Edison’s Telegraph from 1890

So if you’re in New York and are interested in finance, or just want to see how big money has been made - and lost - over the past few hundred years, then check this place out. It’s right on Wall Street and only a minute’s walk from the New York Stock Exchange.

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This entry was posted on Friday, February 8th, 2008 at 2:08 pm and is filed under New York. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.