Historical Nonfiction

fun facts, quotes, and pictures from history

Bank of (Insert Country Here)

The Bank of America was originally the Bank of Italy. It was founded in San Francisco in 1904 by Amadeo Giannini. The bank served fellow Italian immigrants, who American banks refused to do business with. At the time, banks only worked with the wealthy; storing money under the mattress was very common for common people.

This isn’t the only interesting thing about Giannini. He managed to save all his deposits from his bank buiding during the great earthquake and fire in 1906. With all the other banks smoldering ruins, he set up a makeshift office with a desk of a plank over two barrels. Giannini lent the saved money to whoever was willing to invest in rebuilding; later in life he was very proud that all those loans were repaid.

(Source: Wikipedia)

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