Stephen Gerard was the sole owner of a bank that funded the war of 1812 and other things for the federal government. From what I’ve seen the structure of his bank being single ownership caused him to hold higher accountability. There’s obviously more to that and a lot more that would need to be added to make it work today, but his accountability looks to have been held in the public eye and on some levels worked.
His bank was the original 1st National Bank, which he acquired after the charter expired. He was also French born and sympathetic to the Jacobin revolution. Financing America's war against the British certainly benefited his pro-French sentiments... Ulterior motives eh?
Stephen Gerard was the sole owner of a bank that funded the war of 1812 and other things for the federal government. From what I’ve seen the structure of his bank being single ownership caused him to hold higher accountability. There’s obviously more to that and a lot more that would need to be added to make it work today, but his accountability looks to have been held in the public eye and on some levels worked.
His bank was the original 1st National Bank, which he acquired after the charter expired. He was also French born and sympathetic to the Jacobin revolution. Financing America's war against the British certainly benefited his pro-French sentiments... Ulterior motives eh?