|
Jay Cooke - Civil War financier of
the Union
Page entitled : Cooke and
Drexel place the Pennsylvania war loan at par
Content of this page is about :
As the government has difficulties selling its bonds at reasonable
discounts, Jay Cooke and the Drexels place a Pennsylvania war loan at par
Extract :
... Jay Cooke and his partners had a vision of the sizeable business
the sale of war bonds would create and whether they already expected to get
an important slice of that cake. In these days the US Treasury marketed its
bonds through competitive bidding among bankers and wealthy capitalists and
acted as its own broker. The bankers resold the bonds among their customers
and earned the differential they could get that way. ...
…
|
|
