not THAT B.K. Marcus!

The Bank of the United States was established in Philadelphia in 1791. By the 20th century the bank was one of the most important in the country. In 1930 rumours began to circulate that the bank was in trouble. On the 7th December long queues began forming outside the bank’s branches. Over the next four days depositors took out $20 million from the bank. On the 11th December, all its branches closed, as the bank no longer had any money to give back to its customers. It was the most disastrous failure in the banking history of the United States. Investigators discovered that the bank’s owners had been guilty of incompetence and three of them, B. K. Marcus, Saul Singer and Herbert Singer, were sentenced to terms in Sing Sing Prison.

B. K. Marcus, Saul Singer, and Herbert Singer

Wow. Sing Sing. Couldn’t have happened to nicer guys, I’m sure. It would be hard to come by a more ironic association for my nom de plume, nom de guerre, nom de marriage, nom de nouvelle famille, etc. Maybe if there had been a B.K. Marcus working as a Hamiltonian lickspittle during the conspiratorial genesis of The Federalist Papers

For those of you who don’t know, “Spartacus Educational” is a British anarcho-commie website with a very lefty conspiracy skew on Anglo-American history.

For an American, anarcho-capitalist, semi-conspiracy skew on the history and economics of central banking, see the following:

The Mystery of Banking (PDF)

What Has Government Done to Our Money?

The Case Against The Fed

All by Murray Rothbard.

Advertisements

One Response to not THAT B.K. Marcus!

  1. Scott Lahti says:

    Hohoho!

    I just ran into that photo just now, and was going to send it to you, before Googling further and, heh, landing here.

    Amazing.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: