How Did Bird, Savage & Bird Transition from Merchants to US Government Bankers?

💡 The Answer

• The firm began as London merchants exporting goods to America in exchange for semi-tropical crops around 1782.
• Later they became the banking agents in Britain for the U.S. Government.
• This shift from trade to banking was significant for a private firm.
• The U.S. Government entrusted them with handling financial transactions.
• Their eventual failure left the United States as major creditors.