The magazine of the Museum of American Finance
in association with the Smithsonian Institution
Issue 139 • Fall 2021 ( ISSN 1520-4723 )
Kristin Aguilera Editor
EDITORIAL ADVISORY BOARD
Howard A . Baker , Esq . Howard Baker Associates Lawrence A . Cunningham The George Washington University Brian Grinder Eastern Washington University Gregory DL Morris Freelance Journalist Susie Pak St . John ’ s University Arthur W . Samansky The Samansky Group Myles Thompson Columbia Business School Publishing Janice Traflet Bucknell University Robert E . Wright American Institute for Economic Research Jason Zweig The Wall Street Journal
ART DIRECTION Alan Barnett Design
MUSEUM STAFF David J . Cowen , President / CEO Kristin Aguilera , Deputy Director Robert Dinkelmann , IT / Technology Maura Ferguson , Director of Exhibits Sarah Poole , Collections Manager
Linda Rapacki , Managing Director of Visitor Services and Operations
Mindy Ross , Director , External Relations Ben Urizar , Assistant Director of Visitor Services
Copyright © 2021 by the Museum of American Finance , publisher . All rights reserved .
Financial History is the official membership magazine of the Museum of American Finance .
IN THIS ISSUE
10 Markets of the Roaring ’ 20s
Are we headed for another crash ?
By William R . Gruver
15 Bridging the San Francisco Bay
Our Infrastructure Series continues with the financing and construction of the Golden Gate and San Francisco-Oakland Bay Bridges .
By Michael A . Martorelli
20 FDR , Monetary Experimentalist
The saga of George Warren and his book .
By Daniel C . Munson
24 Walter J . Schloss : A Superinvestor of Graham-and-Doddsville
Biography of one of the most successful disciples of Benjamin Graham .
By James Russell Kelly
30 Creators of Character
Entrepreneurs flourish in the diverse theater-costume business .
By Gregory DL Morris , Triffin I . Morris and Rachel E . Pollock
34 Edmund J . Forstall and the Louisiana Banking Act of 1842
“ The Forstall System ” instituted benchmarks and practices indelible to contemporary banking .
By Ramon Vasconcellos
2 FINANCIAL HISTORY | Fall 2021 | www . MoAF . org