The Man Who Made Wall Street: Anthony J. Drexel and the Rise of Modern Finance - Hardcover

Rottenberg, Dan

Hardcover

ISBN 10: 0812236262 ISBN 13: 9780812236262

Publisher: University of Pennsylvania Press, 2001

Synopsis

A fascinating account of the best financier of the nineteenth century introduces readers to Anthony J. Drexel, the man widely credited with creating Manhattan's famous financial district.

About this title

About the Author

Dan Rottenberg is the editor of Family Business magazine. He is the author of seven books and has written for Town and Country, New York Times Magazine, Forbes, Civilization, TV Guide, and Rolling Stone.

From Publishers Weekly

Though Drexel (1826-1893) was a major player in American finance as the country moved into the industrial age and certainly deserves a serious biography, his achievements are often overlooked in favor of more famous figures such as Jay Gould and J.P. Morgan. In fact, the book's title is ironic, given that Drexel's base was Philadelphia's Third Street financial district. Yet most of this book concerns his indirect effect on New York financial circles and his very direct effect on the fortunes of his good friend J.P. Morgan. Some of Drexel's obscurity is attributable to his private nature; there are few surviving papers and no interviews. On this score, Rottenberg (Finding Our Fathers) has done a superlative job, tracking down hundreds of bits of information, collating indirect references and interviewing many surviving relatives. Unfortunately, the other reason that Drexel gets little fanfare is that he was less interesting, energetic and imaginative than his celebrated contemporaries. Perhaps partly due to a lackluster portrayal, Drexel never comes alive in these pages, either as a person or as an important force. His introduction of financial practices that are now entrenched norms is indeed important, but to general readers his influence will seem very subtle and indirect. In the high drama of American finance, Drexel secured a seat with an unobstructed view. Readers with a particular interest in 19th-century financial affairs will find this work an invaluable resource, providing a rigorously researched and solidly presented illumination of hitherto neglected details. 26 b&w illus.

Copyright 2001 Cahners Business Information, Inc.

Edition details

• Publisher: University of Pennsylvania Press
• Publication date: 2001
• ISBN 10: 0812236262
• ISBN 13: 9780812236262
• Binding: Hardcover
• Language: English
• Number of pages: 296