Boosters, Hustlers, and Speculators: Entrepreneurial Culture and the Rise of Minneapolis and St. Paul, 1849-1883

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Minnesota Historical Society Press, 2005 - Business & Economics - 290 pages
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In 1849, when settlers arrived in the newly formed Minnesota Territory, they disembarked at the rough shantytown known as St. Paul, home to fur traders and a handful of merchants. Nearby was Fort Snelling, its soldiers charged with keeping peace in the wilderness, its territory later transferred to the burgeoning settlement at Minneapolis. Less than four decades later, St. Paul had emerged as a mercantile, banking, and railroading center, and Minneapolis had matured into the world's largest flour-milling center. The story of how this came to be involves assorted visionaries, savvy entrepreneurs, and government-supported expansion that combined to make St. Paul?Minneapolis the region's undisputed business, political, and educational center. Historian Jocelyn Wills offers a business and entrepreneurial study of the Twin Cities during its early years, with particular focus on the individuals who took chances on and promoted the Cities? development. Boosters, Hustlers, and Speculators shares the successes and failures of a host of colorful characters who saw in the Twin Cities opportunities for financial gain and regional fame: early fur trader Norman Kittson, who built a lucrative trading network reaching to the Red River Valley; speculator Franklin Steele, who over-reached at the Falls of St. Anthony and was virtually bankrupt after the panic of 1857; milling visionary William D. Washburn, whose confident investments catapulted Minneapolis's milling district to international renown; railroad magnate James J. Hill, whose calculated business decisions helped him realize his dream of building a rail line to the Pacific. Most arrived with limited means, and only some managed to realize their dreams, but all contributed to the development of Minneapolis and St. Paul as the region's leading manufacturing, banking, and transportation center. This exhaustively researched book provides a firm foundation for understanding the role the Twin Cities have played in the development of the region and the nation from their earliest days.
  

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Contents

Market Expansion and Minnesotas Territorial Vanguard
11
Minnesotas Territorial StartUp and the Race for Riches
40
Territorial Expansion and Minnesotas First Economic Bust
68
Civil War Contracts and the Revival of Minnesotas Economy
99
The PostCivil War Boom and the Rise of the Cities
120
Industrial Depression and the Survival of St Paul Minneapolis
149
The Triumph of Minnesota s Metropolitan Complex
178
Conclusion
211
Notes
217
Bibliography
259
Index
281
Copyright

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References to this book

The Populist Vision
Charles Postel
Limited preview - 2007
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About the author (2005)

Jocelyn Wills is an assistant professor of history at Brooklyn College, City University of New York. She earned her M.A. and Ph.D. from Texas A&M University and her B.A. from the University of British Columbia. Her work has appeared in Essays in Economic and Business History, Journal of Social History and Journal of the West.

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