Financial History Issue 131 (Fall 2019) - Page 38

TRIVIA QUIZ HOW MUCH DO YOU KNOW ABOUT FINANCIAL HISTORY?  1. What company, founded by Aaron Burr, was initially created to provide clean water to New York City but became better known for its banking arm?  2. The year 2020 will mark the 300th anniversary of the bursting of what two historically important bubbles?  3. Pennies are no longer made solely of copper, but are rather composed of which metal with a thin copper coating?  4. What percentage of the world’s money is physical cash, as opposed to electronic funds?  5. What early American financier founded the US Coast Guard?  6. What company’s demise exacerbated the Panic of 1857?  7. What American author painted an accurate, realistic and dramatic picture of commodities trading in the early 20th century through his popular writings on wheat trading?  8. What type of “currency” circulated widely throughout the United States during the Great Depression, due largely to a shortage of US paper money?  9. What bank was the first independent joint-stock bank in the United States and the second bank to receive a state charter? 36    FINANCIAL HISTORY  |  Fall 2019  | 1. The Manhattan Company  2. The Mississippi Bubble and the South Sea Bubble  3. Zinc  4. Roughly 8% (in 2019)  5. Alexander Hamilton  6. Ohio Life Insurance and Trust Company  7. Frank Norris  8. Scrip  9. The Massachusetts Bank  10. Richard Nixon 10. What US President said, “The Federal Reserve is independent, certainly independent of the President, although the Congress would suggest that it is not independent of the Congress”?