Hamilton founded what many regard as the first commercial bank in the United States

Hamilton created the First Bank of the United States

As Treasury secretary, Alexander Hamilton proposed the First Bank of the United States to stabilize national finances—serving as the government's fiscal agent, managing debt, and expanding credit through a public-private banking model.

Benjamin Franklin founded America's first lending library in 1731

Franklin convinced members of his intellectual club to pool resources and purchase books none could afford individually. The Library Company of Philadelphia was founded with 50 shareholders, each contributing 40 shillings, and served as the unofficial, de facto Library of Congress from the Revolutionary War until 1800.

Hamilton learned about global trade before he was a teenager

Before he moved to America, Hamilton worked as a clerk around age 12 at the Caribbean trading firm Beekman and Cruger, handling shipping documents, inspections, and port logistics. He eventually managed the day-to-day operations of a trading charter that immersed him early in Atlantic commerce.

The New York Stock Exchange was started in 1792

When it first opened, traders would meet both outside on the street and in coffee shops to do business. Today, the NYSE is known as one of the most important financial institutions in the world.

The New York Stock Exchange wouldn't have been made if not for municipal bond sales

The Funding Act of 1790 nationalized and consolidated the debt held by the 13 colonies to be sold off in the form of bonds.

The history of bankruptcy in the US dates back to the signing of the Constitution

In 1787, this founding document gave Congress the right to establish nationwide bankruptcy laws. Legislators took advantage of that power in 1800 when they passed the Bankruptcy Act of 1800, the first comprehensive bankruptcy law at the federal level.

London bankers created the first clearinghouse to process checks in 1770

Until that time, each banker was required to bring that day's checks to every other bank for settlement. Perhaps understandably, the first place bankers opted to gather to clear and settle checks was a tavern known as the Five Bells. The innovation gave rise to what would become clearinghouses, key institutions that facilitate payments.

The Erie Canal transformed New York City into America’s banking capital

By redirecting western trade through New York Harbor, the canal turned New York into the nation’s commercial hub. This surge in commerce shifted financial power from Philadelphia to Wall Street, establishing the city as America’s banking capital.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

One of Hamilton's first published works was an anonymous pamphlet

While on a scholarship at King's College, Alexander Hamilton anonymously published a series of political pamphlets defending the Continental Congress, engaging in a sustained, sharply argued back-and-forth with loyalist writer Samuel Seabury that drew wide attention.

Elizabeth Schuyler Hamilton founded New York City's first private orphanage

Schuyler Hamilton, Alexander's wife for 24 years, continued telling his story after his death. She devoted decades to her own work—cofounding New York's first private orphanage, leading charitable fundraising, and becoming a prominent advocate for education and social welfare in the early republic.

Key moments in fintech history include the transatlantic cable’s invention and E-Trade’s founding

Founded in 1982, E-Trade was the first-ever online brokerage, pioneering a method of investing that is common today. Its story is part of a timeline that the New York Times put together of key moments in early fintech history.

The State of the Union address was first delivered in New York City

The first address took place in New York City in 1790, when President George Washington addressed Congress at Federal Hall—the nation's capital under the Articles of Confederation and the seat of the federal government during the Constitution's first year.

How the Bank of Italy became Bank of America

Amid the devastation of the 1906 earthquake in San Francisco, Italian immigrant and local banker Amodei Giannini managed to keep hold of a substantial amount of currency. On a handshake, Giannini loaned needy locals money to rebuild. The enterprising banker would go on to form one of the first banks for the middle class, the Bank of Italy, which would go on to become the Bank of America in 1930. Read about the founder here.

An early version of the musical 'Hamilton' debuted at the White House

Years before the musical "Hamilton" reached Broadway, Lin-Manuel Miranda performed an early draft of the opening song at the White House during a 2009 poetry event attended by President Obama.

How one man placed the first short against the Dutch East India Company

Isaac Le Maire, a Dutch businessman and cofounder of the Dutch East India Company, is said to be history's first short seller, betting against the Dutch East India Company's stock price. Le Maire, who had been fired from the spice trading company over an unclear financial dispute, began spreading false rumours about the company to encourage people to sell their stock in order to tank its value.

Two of American Express' co-founders also founded Wells Fargo

Henry Wells and William Fargo formed Wells, Fargo & Co. two years after American Express was created. Wells and Fargo saw an opportunity to expand the express delivery service from the East Coast and Middle America to the West Coast. The two initially asked the American Express board to expand operations, but the board declined, so they decided to create their own company. Today, Wells Fargo is among the top four largest banks in the US.

6 union history facts

Founded in 1794, the Federal Society of Journeymen Cordwainers (who were leather workers and cobblers) is considered to be the first union in the United States.

How JPMorgan Chase became America's biggest bank

From the railroad and steel consolidations brokered by John Pierpont Morgan on Wall Street more than a century ago, to the repeal of Glass-Steagall, the financial crisis, and Jamie Dimon’s leadership, J.P. Morgan Chase has been at the center of finance for more than a century.

Credit reporting started as a service for businesses rather than consumers

In the 1700s US economy, consumer credit reporting wasn't necessary. A loan to a farmer for agricultural supplies, for instance, would inevitably help them purchase both personal and business items.

Mass transit in America began with horse-drawn omnibuses in New York City in 1827

The omnibus, a large horse-drawn stagecoach that ran a fixed route and carried a dozen riders at an affordable fare, was different from a private carriage because it carried everyone, not just the wealthy.

Delmonico's was the first American fine-dining restaurant

The steakhouse opened in 1837 in Manhattan, creating what is now considered the first fine-dining restaurant in the United States, introducing gloved waiters, white tablecloths, and an à la carte menu. The establishment also claims it invented a few American staples, including eggs Benedict, which was supposedly named after two loyal customers.

The term ‘Black Friday’ originally referred to a 1869 US gold market crash

After financiers Jay Gould and James Fisk attempted to corner the US gold market, the market crashed on September 24, 1869, bankrupting thousands of investors and sending stock prices plummeting by 18%. That day became known as “Black Friday” long before the unofficial retail holiday emerged.

How the stock market performed under every US president

It's worth noting that the stock market as we know it today didn't exist under the leadership of earlier presidents, such as George Washington and Thomas Jefferson.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

How John D. Rockefeller became the world's first billionaire

From a young age, John D. Rockefeller knew he was interested in business. He worked as a bookkeeper and sold candy prior to starting the business empire that would help cement the Rockefeller name in history: Standard Oil.

America's oldest companies still operating today

Did you know that the Ticonderoga pencil company dates back to 1795? Or that Baker's Chocolate started in 1765? This visualization depicts the oldest American companies that are still in operation today in a timeline—see it here.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

Hear about the 250-year history of the United States Postal Service, complete with some of its strangest deliveries, important innovations, and the figures that made it an American institution.

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The first horror movie is believed to be George Méliès' 1986 short 'The Haunted Castle,' which pioneered the use of special effects

'Grand Canyon of the Yellowstone,' a work by American painter Thomas Moran, inspired Congress to establish Yellowstone National Park.

Abraham Lincoln was almost assassinated weeks before his inauguration as he traveled from Illinois to DC through Baltimore in 1861; it took two independent claims for Lincoln to be convinced the threat was real

Watch a 1934 short film starring jazz legend Cab Calloway, a major figure in the Harlem Renaissance's music scene

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Many legends about George Washington, including his supposed wooden teeth and the story of cutting down the cherry tree, lack evidence.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

Before humans, the Soviet Union and the United States sent animals—including apes, dogs, and cats—to space during the Space Race.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

Bone marrow (soft tissue found inside certain bones) generates roughly 500 billion new blood cells each day