New York, NY (PRWEB) Might 21, 2012
Capital of Cash: New York Town Banks and the Generation of a Global Financial system, a new exhibition opening at the Museum of the Town of New York on Could 22, 2012, charts the rise of the citys banks from early sources of credit history for nearby merchants to institutions that reworked New York City into a world-wide economic heart. The exhibition characteristics historic documents and artifacts which includes nineteenth-century examples of lender-issued income, a 1922 predecessor to the ATM, and artifacts associated to the 2008 fiscal crisis.

The exhibition explores far more than two centuries of New Yorks banking program, from the founding of the citys very first banks following the American Revolution to the citys emergence as a leading international economic electricity. Together the way, the exhibition reveals how banks and the funds they amassed fueled progress of the citys stock industry, the advancement of new industries and made New York the nations banking middle by the center of the nineteenth century and the fiscal capital of the planet in the early 20th century. Additionally, guests will see how financial institutions turned intertwined with New Yorks increasing economy, changing with the metropolis alone as it became more substantial, more influential, and much more worldwide in attain.
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Funds of Cash unfolds in 4 sections, highlighting the improvements that gave every era its character the bank-issued notes that served as the nations paper forex and created feasible the mercantile economic system of the pre-Civil War Era the shares and bonds that underwrote the nations investments in business and infrastructure in the late nineteenth and early 20th generations the new tools of customer credit and banking that became a progress business in the middle of the 20th century, and the derivatives and securitized assets that fueled the booms and busts of the late 20th and early 21st centuries.
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Susan Henshaw Jones, Ronay Menschel Director of the Museum, stated, This exhibition will show that the heritage of New York Citys banking institutions is, unexpectedly, very fascinating, loaded with twists and turns, booms and busts, and the saga carries on to the present working day, with newspapers crammed with discussion above the foreseeable future of the industry.

Funds of Cash will give visitors perception into New Yorks banking background and expose how a lot of of the issues experiencing the industry today resonate back again to the quite early times of the town and its banking institutions. The exhibition will give critical historical context to the ongoing discussion encompassing the availability of credit score, the security of investments, and governments position in the banking sector. Funds of Capital will also go over common protests against the industrys power and procedures and the link between New York Metropolis and the international economy.

The exhibition was manufactured feasible by a generous grant from Citi, which is funding the exhibit as portion of its commemoration of its 2 hundredth anniversary yr.
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Citi was established on Wall Street in 1812, and we have named New York our house at any time because as we have worked to help economic progress in our home metropolis and over and above, said Citi CEO Vikram Pandit. In the course of our 2 hundredth anniversary yr, we are excited about supporting a well timed exhibit which explores the banking industrys role in transforming New York City into the fiscal capital of the planet.

Cash of Cash has been arranged by an exhibition team led by Sarah M. Henry, the Museums Deputy Director and Main Curator and Guest Curator, Prof. Brian P. Murphy of Baruch Higher education, City University of New York, with Jessica Lautin, Andrew W. Mellon Postdoctoral Curatorial Fellow at the Museum of the City of New York.
