The construction of the Erie Canal is one of the most ambitious infrastructure projects in American history. But its most influential legacy is not the waterway itself, it is how it was paid for. Hosts Gillian Tett and Robin Wigglesworth speak with financial historian Richard Sylla about how a gutsy New York City mayor won over politicians, citizens and investors to build something that not only transformed trade in a young nation, but also made New York City a financial centre and laid the blueprint for America’s municipal bond market.
Further reading:
Wedding of the Waters: The Erie Canal and the Making of a Great Nation (2006), by Peter L. Bernstein
Credits: Getty Images. A performance of ‘Meeting of the Waters of the Hudson and Erie’ published by cplotter on YouTube
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Hosts: Gillian Tett and Robin Wigglesworth
Producer: Lulu Smyth
Senior Producer: Michela Tindera
Executive Producer: Manuela Saragosa
Original music and sound design: Breen Turner
Broadcast engineers: Bianca Wakeman and Petros Gioumpasis
Podcast Development: Laura Clarke
FT Global Head of Audio: Flo Phillips
Video editors: Josh Divney and Kristen Kenyon at Podcast Discovery
Learn more at www.ft.com/tsom or get in touch at thestoryofmoney@ft.com.