Alan L. Olmstead 
New York City Mutual Savings Banks, 1819-1861 [EPUB ebook] 

These institutions were founded ostensibly for philanthropic purposes–to encourage and reward thrift on the part of society’s lower classes. For purposes of analysis, Olmstead formulates an alternative hypothesis. Men organized mutuals for the same reason that impelled their other business ventures–the hope of profit. The author focuses on the internal operations of several banks and the important role they played in financing antebellum development.
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