Entries

German Component to American Industrialization

The era from 1840 to 1893 was a momentous one both for German-American immigration and for U.S. industrialization, so it bears examining to what extent the two developments were interrelated. This essay will first sketch out the contours of German immigration and American industrialization in this era. It then identifies areas of the U.S. economy where Germans were particularly concentrated, and examines the industrial and geographic niches where transatlantic connections were of greatest consequence. Shifting focus from global to individual patterns, it then explores what was German and what was American about German-American entrepreneurship in the mid- and late nineteenth century.

German Corporate Entrepreneurs in Nineteenth Century America

Many of the Germans who came to the United States in the nineteenth century were entrepreneurs, some in the more mundane sense of owning their own businesses, others in the more exciting sense of being innovators within various business sectors. Germans also appear to have been more likely to engage in entrepreneurial activities on a scale large enough to require the formation of corporations. That hypothesis stems from the analysis of a database of the names of several hundred thousand incorporators, people (mostly men) who helped for-profit businesses to receive special charters granted by state legislatures across the United States between 1790 and 1861.

German Immigrants and J. P. Morgan’s Securities Underwriting Syndicates

The Immigrant Entrepreneurship project offers a transnational perspective on American history. Transaction records from the J. P. Morgan & Co. Syndicate Books help us understand how a transnational society of bankers networked funds around the world by forming syndicates to support the globalization process. Syndicate participation provided a way for many German immigrants and German-Americans to attain both economic success and social status in America.

German Jews and Peddling in America

Peddling helped launch the Jewish migration out of Germany and its predecessor states. The knowledge that thousands of young single men could come to America and get on the road, laden with a jumble of goods on their backs, and reasonably hope to end up a married proprietor of a thriving business, propelled them. The fact that they could fulfill the aims of their migration, settle down, and succeed in business, also helped change the face of the Jewish world for decades to come.

German Social Entrepreneurs and the First Kindergartens in Nineteenth Century America

Two German women, Caroline Louisa Frankenberg and Margarethe Meyer Schurz, are credited with bringing the kindergarten movement to the nineteenth-century United States by opening kindergartens that served children of German immigrants. They conducted classes in the German language and were social entrepreneurs in that they made an innovative, long-term, social impact on the American educational system. Their primary interest was not personal financial gain, but rather the humanistic, social, and educational development of children. As word spread of their efforts, Anglo-American educators took note and grew the movement, establishing English-language kindergartens and kindergarten training schools for teachers. The creation of kindergartens fundamentally changed how Americans thought about the ideal environment for beginning a child’s education.

German-Americans during World War I

World War I had a devastating effect on German-Americans and their cultural heritage. Up until that point, German-Americans, as a group, had been spared much of the discrimination, abuse, rejection, and collective mistrust experienced by so many different racial and ethnic groups in the history of the United States. Indeed, over the years, they had been viewed as a well-integrated and esteemed part of American society. All of this changed with the outbreak of war.

Goldman, Henry

Today, second generation German-Jewish immigrant Henry Goldman is primarily remembered for his role as an early partner in Goldman Sachs, the international investment bank that still bears his family’s name. His accomplishments stretched well beyond his own firm, however. In addition to revolutionizing Goldman Sachs, he helped change the American economy by shifting investment banking away from railroads and heavy industry and toward mass-retail establishments. He also pioneered an approach to capital valuation that focused not on physical assets, but on future earnings.