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By On This Day in NYC's History


On July 3, 1819: The first savings bank in New York City opened its doors. The idea of a savings bank had been borrowed from Europe in hopes that the lower classes would learn how to save rather than spend their money. NYC could have probably chosen a better time to establish a savings bank considering its establishment came at the same time as the Panic of 1819, the first major financial crisis in the peacetime United States.

Chung-Sung Jun/Getty Images News/Getty Images

Chung-Sung Jun/Getty Images News/Getty Images



On July 3, 1954: Wonderful Town closed on Broadway after 559 performance. With lyrics by Betty Comden and Adolph Green and music by Leonard Bernstein, the musical chronicled the lives of new-in-town sisters trying make lives for themselves while dealing with the eccentricities of their neighbors on Christopher Street. Wonderful Town won five Tony awards, including Best Musical, and inspired a 2003 Broadway revival.

One Response to On This Day in NYC’s History: NYC’s First Savings Bank Opens

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