How did these artifacts impact a young nation and forever change the lives of two famous statesmen and how did they come to be part of our collection? These pistols, made in 1797 are linked to Alexander Hamilton and Aaron Burr. In our collection are two legendary pistols that changed the course of history. And in 2000, Chase Manhattan merged with JPMorgan & Co, to form today's JPMorgan Chase.Įlizabeth: With a rich history tracing back over 200 years, JPMorgan Chase has preserved a unique collection of artifacts and records that help tell the story of our firm. In 1955, the Bank of the Manhattan Company merged with Chase National Bank, the third largest in the United States, to form Chase Manhattan Bank. The Manhattan Company's groundbreaking charter became a template for the establishment of other banks within New York. And the Bank of the Manhattan Company was born. Remember the clause that Aaron Burr included in the original charter in 1799? Within just six months of securing the charter for the water company, the directors voted to open a bank with their excess capital. Though the Manhattan Company moved out of the water business, it remained a household name. This service continued until 1842 when New York City established its own municipal water system, and the Manhattan Company's Waterworks closed its operations. In order to transport water through the growing city, six miles of wooden pipes were laid in just the first year, providing clean water to 400 homes, shops, and businesses. The charter, with its unusual clause, was successfully passed. Burr had added a clause into the charter that would allow the directors of the Manhattan Company to start a bank with excess capital not needed by the water company. In 1799, Hamilton and Burr presented a charter for the governor's signature that would provide clean water to New York City residents through a private company, the Manhattan Company. And the two men who led the charge were none other than Alexander Hamilton and Aaron Burr. But it wasn't until an outbreak of yellow fever reached its peak in 1798, that a group of people decided to take action. Unsanitary conditions prompted concern about the spread of disease.
Most New Yorkers had no easy access to clean water.
By the end of the 18th century, there were close to 60,000 people living in New York City. Rachel: You might be surprised to find out that JPMorgan Chase began by supplying water to Lower Manhattan.
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