To find more information about Rowman and Littlefield titles, please visit www.rowmanlittlefield.com.

The author argues that free-banking laws enacted before the Civil War generated substantial benefits in the form of a more efficient allocation of capital.

First Published in 1992. Routledge is an imprint of Taylor & Francis, an informa company.

Professor Bodenhorn reveals how America was served by an efficient system of financial intermediaries by the mid-nineteenth century.

Generally, books addressing the early history of African American banks have done so either within the larger construct of African American business history and economic development, or as a starting point to explore current issues related to financial services. Focused considerations of these early institutions and their founders have been relatively rare and somewhat scattered. This publication seeks to address this issue.