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The Rail Revolution: Jay Cooke and the Northern Pacific (Part 4)
1:05:43
By 1869, the transcontinental railroad is finished, the Civil War debt is refinanced, and the business that made Jay Cooke reach the pinnacle of private banking in the US is disappearing. He had spent the war building something nobody had built before: a retail distribution machine that sold Union bonds to farmers, mechanics, and merchants. He had created the template for war financing that…