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CoinWeek Podcast #171: The Spiritual Bank of Seth Paine
This week on the CoinWeek Podcast, we discuss the Spirit Bank of Chicago and its enigmatic founder Seth Paine.
The Spirit Bank of Chicago was founded in 1852 when free banking rules allowed for a rapid explosion of new banks across the United States. Paine’s bank was an outlier as far as 1850s banks were concerned. His bank was a reflection of his deeply felt spiritualist beliefs and it wasn’t long before it and its unorthodox business practices garnered the attention of foes that wished to do it in. It’s a fascinating story of humanism, persecution, and resilience, and you will learn all about it next, when author Nancy Schumm joins us on the CoinWeek Podcast.
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