IDEAS home Printed from
   My bibliography  Save this paper

Immigrants, Savers, and Runners: The Emigrant Industrial Savings Bank in the 1850s


  • Cormac Ó. Gráda

    (University College Dublin)


The records of a New York savings bank founded by Irish immigrants in 1850 are used to shed light on immigrant savings patterns and the early history of savings banks. The analysis of the occupations and addresses of individual account holders reveals a very broad cross-section of the New York Irish and some representation - about ten per cent in the 1850s - of other nationalities. Accounts tended to be held for relatively short intervals, and the numbers of deposits and withdrawals small. Most account holders used the bank for current account rather than nestegg purposes. The final section of the paper contains a preliminary analysis of account-holder behaviour during the panic of 1854.

Suggested Citation

  • Cormac Ó. Gráda, 1997. "Immigrants, Savers, and Runners: The Emigrant Industrial Savings Bank in the 1850s," Discussion Papers 97-24, University of Copenhagen. Department of Economics.
  • Handle: RePEc:kud:kuiedp:9724

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item


    migration; banking; panics; economic history;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • G1 - Financial Economics - - General Financial Markets
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kud:kuiedp:9724. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Hoffmann). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.