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The Ladies’ Deposit Company
- Sarah Howe started the Ladies’ Deposit Company, a bank exclusively for single women, in the late 1870s.
- She promised high returns and fostered a sense of community, attracting many depositors.
Unregulated Banking
- Banking in the 1800s was largely unregulated, allowing anyone to establish a bank.
- A bank run by and for women was unique, especially given societal views on women in business.
High Returns
- Sarah Howe guaranteed an 8% monthly interest rate, paying the first three months upfront.
- Leaving the deposit for a year promised a near doubling of the initial investment.