Episode Details

This episode is an interview with author Richard Vague. We discuss his new book The Banker Who Made America: Thomas Willing and the rise of the American financial aristocracy. The book details the life of Thomas Willing a banker, merchant trader, and politician who bankrolled the American revolution and then fundamentally shaped the financial architecture of the new republic. Thomas Willing got his start as a partner in Willing, Morris and Company in 1757. He became mayor of Philadelphia in 1763. From 1781 to 1791 he served as President of the Bank of North America, the first bank in America. In 1791 he became a commissioner for First Bank of the United States (America’s first central bank), then served as President. Around 1800 he rose to be the wealthiest man in America. Thomas was stained with a major controversy. In 1776, as a delegate for Pennsylvania, he voted against American independence TWICE. Pennsylvania’s moneyed elite and the emergent lower and middle classes embroiled the politics of 1776 in bitter class conflict. Below are links to Richard’s website and First Bank of the United States website.

Link: Richard Vague | Understanding Economics

Link: First Bank Website