Books: Cooke's Crash

JAY COOKE—Henrietta M. Larson— Harvard University Press ($5).

In the early days of the Civil War, when Jay Cooke was a pious, 40-year-old, moderately successful Philadelphia banker, he wrote a frantic appeal to his brother in Columbus, Ohio: "I see Chase is in the Treasy, & now what is to be done—can't you . . . open a Banking house in Washn & be something respectable—or at least can't you inaugurate something whereby we can all safely make some Cash?" Unaware at that point were the Cooke brothers that they were about to become...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!