| 词条 | The Boston Associates |
| 释义 |
InvestmentsBy 1845, there were 31 textile companies—located in Massachusetts, New Hampshire, and southern Maine—produced one-fifth of all cotton and wool textiles in the United States. With the capital earned through these mills, they invested in railroads, especially the Boston and Lowell. These railroads helped transport the cotton from warehouses to factories. These Boston-based investors established banks—such as the Suffolk Bank—and invested in others. In time, they controlled 40% of banking capital in Boston, 40% of all insurance capital in Massachusetts, and 30% of Massachusetts' railroads. Tens of thousands of New Englanders received employment from these investors, working in any one of the hundreds of their mills. Mill locations established or improved by the Boston Associates:[2]
PhilosophyDespite being "shrewd, far-sighted entrepreneurs who were quick to embrace...new investment opportunities", the Boston Associates were also "committed to the ideals of the original Protestant ethic and Republican simplicity". Indeed, the members established more than 30 "benevolent societies and institutions" between 1810 and 1840. Their investment in the Boston Manufacturing Company's Lowell Mills project, which Henry Clay called a test for "whether the manufacturing system is compatible with social virtues", epitomized their worldview.[3] See also
Further reading
References1. ^Vera Shlakmen, Economic History of a Factory Town, A Study of Chicopee, Massachusetts, 1935 2. ^The Run of the Mill, Steve Dunwell, 1978 3. ^{{cite book|last1=Shi|first1=David E.|title=The Simple Life: Plain Living and High Thinking in American Culture|date=1985|publisher=University of Georgia Press|location=Athens, GA|isbn=978-0195034752|pages=93–98|url=https://books.google.com/books?id=-wSbGrOXJv8C|accessdate=27 January 2018}} 4 : Investment management companies of the United States|Economic history of Boston|19th century in Boston|American city founders |
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