| Book Review | The American Historical Review, 112.1

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| Book Review | The American Historical Review, 112.1 | The History Cooperative

Book Review

Canada and the United States

Robert E. Wright. The First Wall Street: Chestnut Street, Philadelphia, and the Birth of American Finance. Chicago: University of Chicago Press. 2005. Pp. vii, 210. $25.00.

Robert E. Wright, a distinguished historian of early American finance, has written an unusual book that will interest both history buffs and academic historians. It uses the rise and decline of Philadelphia as the financial center of the early republic as a way of introducing the financial history of the young United States and advancing a finance-led interpretation of early American economic growth. Engagingly written and thoroughly researched, Wright's book summarizes and makes accessible a large and often obscure technical literature on early American financial history. While most Americans probably assume that Wall Street has always been the nation's financial nerve center, this is not the case. In fact, the country's initial financial center was Chestnut Street, the home of the country's first stock exchange, of the U.S. Mint, and the Bank of the United States and also the location of a vibrant insurance industry.

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