Footnotes: "Before Madoff and Ponzi: 19th Century Business Frauds"

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Publications and Resources

by George Robb

1 For one account, see Diane B. Henriques, The Wizard of Lies: Bernie Madoff and the Death of Trust (New York: Henry Holt and Company, 2011).

2 For the dynamics of Ponzi schemes, see Catherine Rampell, “A Scheme with No Off Button,” The New York Times (21 October 2008). Charles Ponzi’s remarkable career is detailed in Mitchell Zuckoff, Ponzi’s Scheme: The True Story of a Financial Legend (New York: Random House, 2005).

3 For an interesting look at how the railroads transformed big business and finance, see Harold Perkin, The Age of the Railway (Newton Abbot: David and Charles, 1971).

4 For a general discussion of problems associated with company promotion in the 19th century, see George Robb, White-Collar Crime in Modern England (Cambridge: Cambridge University Press, 1992).

5 Julian Symons, Horatio Bottomley (London: Cresset Press, 1955), 48-58, 112-13.

6 “A Detective,” The Ways of Swindlers (London: T.H. Sheppard, 1879), 73-78.

7 H. A. Shannon, “The Limited Companies of 1866-83,” Economic History Review 4 (October 1933), 295.

8 B. R. Mitchell, “The Coming of the Railways and United Kingdom Economic Growth,” Journal of Economic History 24 (September 1964), 315-36.

9 R. S. Lambert, The Railway King: 1800-1871: A Study of George Hudson and the Business Morals of His Time (London: G. Allen and Unwin, 1934), 186.

10 Lambert, The Railway King, 115-19 and 253-5. Eastern Counties Railway, Shareholders’ Committee of Investigation, 1849. Robert Beaumont, The Railway King: A Biography of George Hudson, Railway Pioneer and Fraudster (London: Headline Book Publishing, 2003), 245-70.

11 Hubert A. Meredith, The Drama of Money Making (London: Sampson, Low, Marston and Company, 1931), 113.

12 “A Mysterious Bank,” Boston Daily Advertiser (25 September 1880).

13 “The Deposit Company,” Boston Daily Advertiser (4 October 1880).

14 “The Ladies Deposit,” Boston Daily Advertiser (2 October 1880).

15 “Guilty on Four Counts,” The Boston Globe (26 April 1881).

16 “The Boston Woman’s Bank,” The New York Times (23 April 1881).

17 “Woman’s Business Ignorance,” Harper’s Bazaar (8 January 1881), 18.

18 “The Woman’s Bank of Boston,” Banker’s Magazine (November 1880), 351-2.

19 “Mrs. Howe’s ‘Bank’ Again,” The New York Times (16 April 1887); “A Noted Female Swindler,” The New York Times (9 December 1888); and “Death of Mrs. Howe,” The New York Times (21 January 1892).

20 The Times (London), (12 September 1856).

21 Harold Pollins, “Aspects of Railway Accounting before 1868,” in Studies in the History of Accounting, edited by A.C. Littleton (Homewood, Illinois: Richard D. Irwin, 1956).

22 Hartley Withers, The Quicksands of the City and a Way Through for Investors (London: Jonathan Cape, 1930), 52

23 David Morier Evans, Facts, Failures and Frauds (London: Groombridge and Sons, 1859), 19.

24 Charles Dickens, “Convict Capitalists,” All the Year Round (June 1860), 202.

25 “Bank Audits,” Banker’s Magazine (November 1893), 677.

26 Jack Katz, “The Social Movement against White-Collar Crime,” Criminology Review Yearbook (1980, Vol. 2).

27 For one summary, see Alex Altman, “A Brief History of Ponzi Schemes,” Time (15 December 2008).

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