Wells Fargo page 1

Wells Fargo page 1 by ric Gustafson


A company started as the younger sibling of the American Express Company. The American West which lay beyond the Mississippi River was strange and new in the mid 19th century. Rainfall was lacking, the landscape had tremendous diversity and mineral riches was just underneath the surface. There was a big opportunity for an express mail service to the West. For this to occur you needed reliable communications, a speedy transportation and secure banking. In the country at this time, mail was the principal means of communication.
In 1840, it cost eighteen cents to mail a letter from New York to Troy New York. Because of the Postal Service high prices, private express services were becoming popular. These express services started with bare feet runners and riders on horses.
In 1845, Henry Wells and William G Fargo joined forces to create their own express service. They started in upstate New York and expanded as far west as Chicago and St Louis. In 1850, the two men founded the American Express Company. In 1852, Wells Fargo and Company was formed.


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Peace and God's blessings. Love Ric