Smithsonian Affiliation

The Museum made history on January 16 as Smithsonian Institution Secretary Lawrence M. Small, United States Treasurer Mary Ellen Withrow, and Museum Chair John E. Herzog inaugurated a new financial markets tradition at the Nasdaq MarketSite in Times Square. They were the first to ceremonially transition the Nasdaq from the close of the regular trading day to the opening of extended trading hours -- only moments after Secretary Small designated the Museum an Affiliate of the Smithsonian Institution.

Historic first-time transition of the Nasdaq stock market by (left to right) J. Patrick Campbell, President of Nasdaq U.S. Markets; John E. Herzog, Museum Board Chair; the Honorable Mary Ellen Withrow, Treasurer of the United States; and Lawrence M. Small, Secretary of the Smithsonian Institution, on the occasion of the announcement of the Museum's affiliation with the Smithsonian Institution.

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Teaching Financial Literacy

The launch of "Money Math" at the Nasdaq market opening on May 7. Participants included Chi McBride, star of the Fox TV show "Boston Public," officials from the U.S. Treasury Department, WOR's Ken and Daria Dolan, and Museum Chair John E. Herzog.

The Museum teamed up with the U.S. Department of the Treasury, the Jump$tart Coalition for Personal Financial Literacy, and 20 other partners from the public and private sectors to launch the first-ever, math-based financial literacy curriculum for kids that is national in scope. The several year long effort to develop the "Money Math: Lessons for Life" curriculum was coordinated by the Center for Economic Education at the University ofMissouri St. Louis drawing on more than a dozen writers, pilot teachers, and reviewers in response to the country's low financial literacy rates among teens. The supplemental middle school math curriculum teaches the importance of sound personal finance to students in grades 7 through 9 and works as a skills building block to equip youth for a future when they will be required to handle even more complex concepts. More

Breathing Life Back Into 48 Wall
When the Bank of New York merged with Irving Trust in 1988 it paved the way for the bank to begin its move westward--by two blocks. After moving its headquarters to the former Irving Trust Building at One Wall Street in 1998, 48 Wall Street changed hands for the first time since 1796 when the Bank of New York first bought the land. In 2005, the Museum began a 20-year lease taking three floors including the former main banking floor which had been vacant since 1998. Renovations began in 2006 and will be completed in 2007.
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“Making Money” Family Day
Children learned about how money is made – literally – and the government’s fight against counterfeiting. Secret Service agents were on hand to show some of the latest counterfeits, children designed currency using the new security features, and there were ongoing demonstrations of currency printing on a 19th century “spider” press.  This event was held on June 25^th, 2005 and was a great day for all in attendance!

2001 Smithsonian Folklife Festival

The Museum helped the Smithsonian recreate Wall Street in Washington as the nation's museum showcased the traditions and trades of New York City at the 2001 Smithsonian Folklife Festival. The 10 day outdoor festival, held annually on the National Mall, attracts more than a million visitors and is one of the country's most visited tourist events.

The Museum staff moderated discussions on the culture and traditions of Wall Street, and presenters included CNN Chief Financial Editor Myron Kandel; 8-year-old stock market whiz kid Richard Anderson, Jr.; New York Stock Exchange Facilities Manager Joe Gabriel; and brokers and traders from the NYSE, the New York Mercantile Exchange, and the Board of Trade.

Children and adults experienced the frenzy of the pit-style commodities exchange as traders from the NYMEX and Board of Trade taught them how to buy and sell pizza slices in an open outcry market. New York Stock Exchange brokers gave simulated tours of the exchange and explained how trades are executed, and Stock Market Game participants gave tips on how to win on Wall Street. Other highlights included a working stock exchange bell, a working replica of an 1870 stock ticker, and demonstrations of financial printing and engraving.

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Money Market Funds Turn 30

The Museum celebrated a milestone in financial history this fall as October 2001 marked the 30th anniversary of the money market mutual fund. Created by Bruce Bent, founder and chairman of The Reserve Funds, the money fund has become a staple investment vehicle for millions of Americans and home to more than $2.2 trillion in cash.

To mark the anniversary, the Reserve Funds donated to the Museum's permanent collection original materials from the first money fund including a handwritten preliminary prospectus, purchase orders, statements of holdings, and informational brochures and materials. The materials will be adapted into an online exhibit on this website. A program on the history of money funds, co-hosted by the Museum, the Reserve Funds, and iMoneyNet, capped the month-long anniversary observance on October 30.

Stock Ticker Returns To Wall Street

Visitors to the Museum gallery can now print their own souvenirs on a working 1870-era replica of Thomas Edison's Universal Stock Ticker. The historically-accurate ticker connects to the Museum's automated guest ledger and prints personalized messages on ticker tape for visitors to take home. The Museum's ticker is the first of 125 working tickers worldwide produced by the Michigan-based Stock Ticker Company, the leading provider of innovative and objective financial education tools.

Three Museums Collaborate on Euro Event

The Museum of American Financial History, the American Friends of the British Museum, and the American Numismatic Society hosted an event to address one of the hottest topics in international finance—the introduction of the Euro as the common currency of Europe.

Andrew Meadows, Curator of Ancient Greek Coins at the British Museum, presented a lecture on the Euro's chance for survival and success on a continent that continues to struggle over monetary union. The event, sponsored by EAB, inaugurated an exciting new public space in the world of finance—the headquarters of the American Numismatic Society at 140 William Street.

Earlier that day, Mr. Meadows traveled to the High School of Economics & Finance in Manhattan, where he spoke to a World Economics class about the new Euro.

Mr. Monopoly Unveils New Moneybag Game Token at Museum

Mr. Monopoly unveiled the prototype model for the first Monopoly game board playing piece to be added in 40 years at a live press conference at the Museum on March 16, 1999. He then presented the piece, an overstuffed sack of money, to the Museum to add to its permanent collection. A yearlong, nationwide contest resulted in the selection of the moneybag token over two runners-up, a biplane and a piggy bank, bringing the total number of playing pieces to 11. The moneybag token is now on display at the Museum.

First Internet Bank Opens Virtual Doors at Museum

First Internet Bank, the world's first full-service online bank that exists only on the Internet, opened its virtual doors at the Museum on Monday, February 22, 1999. The bank, located on the web at firstib.com, is the first state chartered Internet bank with accounts insured by the FDIC. The bank's "Grand Opening" event included a briefing and interviews with David Becker, the bank's Chairman of the Board, Dr. Virginia Morris, Editor-in-Chief of the Lightbulb Press, and Museum Founder and Chairman John Herzog. Mr. Becker presented to the Museum on behalf of the First Internet Bank the new Dell Computer used for the demonstration and a gift of $5,000.

Museum Celebrates Valentine's Day With J.F.K. Display

Valentine's Day proved to be the perfect occasion for the Museum to showcase one of its most exciting donations. The tan leather attaché case bearing the initials "J.F.K." in gold that was a wedding gift from Jacqueline Bouvier to John Fitzgerald Kennedy was displayed in the Museum gallery from Feb. 10-12, 1999. This marked the first time the briefcase was exhibited to the public since Dec. 6, 1963, the day Jacqueline Kennedy and her children moved out of the White House.

Rockefeller Returns to 26 Broadway

In an acquisition of monumental proportion, the Museum added to its permanent collection renowned sculptor Jo Davidson's 1924 artist's proof of his celebrated bust of John D. Rockefeller. It was from this larger-than-life portrait in plaster of the 84-year-old oil magnate that the rose colored marble sculpture was executed for the Standard Oil Company headquarters at 26 Broadway, where the Museum is located.

Following removal of the marble sculpture from the building's ornate lobby, where the names of Rockefeller and the company's directors are carved into the molding, the pedestal was bare until October 29, 1998, when the Museum unveiled the original plaster bust in the location for which the work had been commissioned.

Museum, CNNfn Team Up on Interactive Display

With the celebration of the Museum's tenth anniversary on October 29, 1998 came the announcement by gala host and CNNfn anchor Jan Hopkins of an exciting partnership between the Museum and CNN Financial Network—and a permanent gift to the gallery. The network donated a custom-built kiosk featuring continuous live television CNNfn programming, as well as a computer system linked to its companion website, www.cnnfn.com. The interactive display has been a hit with students and visitors, and it allows people to get stock quotes, research companies, and catch the latest financial news.

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