Financial Founding Fathers: The Men Who Made America Rich

by Robert E. Wright, David J. Cowen

When you think of the founding fathers, you think of men like George Washington, Thomas Jefferson, and Benjamin Franklin—exceptional minds and matchless statesmen who led the colonies to a seemingly impossible victory over the British and established the constitutional and legal framework for our democratic government. But the American Revolution was about far more than freedom and liberty. It was about economics as well. 

Robert E. Wright and David J. Cowen here chronicle how a different group of founding fathers forged the wealth and institutions necessary to transform the American colonies from a diffuse alliance of contending business interests into one cohesive economic superpower. From Alexander Hamilton to Andrew Jackson, the authors focus on the lives of nine Americans in particular—some famous, some unknown, others misunderstood, but all among our nation’s financial founding fathers. Such men were instrumental in creating and nurturing a financial system that drove economic growth in the nascent United States because they were quick to realize that wealth was as crucial as the Constitution in securing the blessings of liberty and promoting the general welfare. The astonishing economic development made possible by our financial founding fathers was indispensable to the preservation of national unity and of support for a government that was then still a profoundly radical and delicate political experiment.  

Grand in scope and vision, Financial Founding Fathers is an entertaining and inspiring history of the men who made America rich and steered her toward greatness.

Genres: History, Economics, American History

216 pages, Hardcover

First published May 1, 2006

About the author

Wright is the Nef Family Chair of Political Economy at Augustana College in Sioux Falls, S.D.

Reviews

[Phil K · Rating 3 out of 5]

"Financial Founding Fathers" is a relatively short book that covers 9 men and their contributions to the nation and its early financial system between the 1750s and the 1830s.

Each chapter covers 1 or 2 of these men in biographical form. The way their stories are told keep the book interesting and human while concurrently talking a lot about finance and banking.

Some of the men are well-known today (i.e. Alexander Hamilton and Andrew Jackson). But others I don't think I had heard of (i.e. Tench Coxe and Robert Morris).

The book's style can be a little too witty or conversational for my taste, but that's certainly preferred to reading a textbook! I always appreciate context and anecdotes, and this book has many. Anyone looking to learn a greater appreciation for the country's early history, especially as it relates to banking, finance, currency, trade, credit, corporations, bubbles, busts, and debtors prison should pick up this quick and easy read.

[Miroslaw Aleksander · Rating 4 out of 5]

Although the author's seem to have different political inclinations than my own, I enjoyed the book a lot. Several perspectives were interesting, if underdeveloped. But if the reader wants more information an ample bibliographical essay is included. The book provides ample insight into the early days of American finance through the biographies of the most significant figures that played a crucial role in the creation of America's fiscal infrastructure. It seems to be written with a reader who has less knowledge on financial instruments in mind, but that does not make it a chore to read by people with more financial knowledge. This also means its a bit less academic in its form, which, honestly, does improve readability.

There were some aspects that I found a bit tiresome nonetheless. At times the authors seem to strongly bent on proving that the men they discuss were exceptional, which I don't think is needed - the actions of people such as Alexander Hamilton speak louder than words. They also give into some speculation, which at times seems without any greater purpose. Finally, some metaphors are a biot overused for my taste. However, these are nitpicks.

[Steve Larter · Rating 5 out of 5]

Short and sweet provides the brief summary of the U.S. financial history from the Articles of Confederation up to and through Jackson's termination of the 2d Bank. Nice overview, but I'll need a more thorough analysis down the line. Perfect for what I needed at this point though.

[Maria · Rating 4 out of 5]

This is a very informative book. It really helped me learn about the beginning of the U.S. financial system.

[Amy · Rating 3 out of 5]

Very interesting and highly reccomended