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How Wells Fargo Became a Bank

By Samuel Phineas Upham In 1848, just after news had gone public that gold was discovered near Sutter’s Mill in California, a lot of money started pouring into the state. Two potential investors were Henry Wells of Vermont and William G. Fargo of New York. They had both made their fortunes from the budding express industry, which was built on delivering packages and payments to customers across the Eastern part of...