Brown Brothers Harriman Company
Following the panic of 1837, Brown Brothers withdrew from most of its lending business. Two of the brothers, John and George, sold their shares in the company to the other two brothers, William and James. During the recovery from this economic turmoil, they chose to focus solely on currency exchange and international trade.
brown brothers harriman company
By 1838, Brown Brothers was out of the risky and speculative dry goods operations entirely and had expanded heavily into financial operations linked with trade. With approximately two-thirds of the company's engagements arising out of exports of British manufactures, the Brown brothers naturally had a heavy interest in facilitating andcheapening trade. They invested in the insurance of cargoes and vessels, shipping and trans-oceanic communication. 041b061a72