ABSTRACT
This chapter focuses on the activities of the major Anglo-American merchant banking houses during the nineteenth century. My goals here are twofold. First, I plan to review briefly the most important institutional trends in the AngloAmerican trade and capital markets over the course of several centuries to provide the proper background. Second, I will discuss the main accomplishments and shortcomings of the leading firms in this dynamic market, with comparisons and contrasts included where appropriate.1 Let me warn readers in advance that I will devote a disproportionate amount of time and space to the House of Brown, an important firm in the Anglo-American market with Baltimore origins. I wrote a detailed book on the Brown partnership over two decades ago.2 I know the Browns best, and I will draw on my prior strengths in this context. I also intend to focus my attention primarily on events on the American side because, again, I am much more familiar with that scholarly literature. With these prejudices and limitations cited, we may now proceed with the discussion.
