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SELIGMAN, Joseph (1819-1880)

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SELIGMAN, Joseph (1819-1880). German-American, financier, b. Baiersdorf, Bavaria. To U.S. (1837); established J. & W. Seligman & Co., New York, international banking house (1862), with branches later at San Francisco, New Orleans, London, Paris, and Frankfurt; aided Union cause during Civil War by marketing bonds abroad; cooperated with U.S. treasury in handling conversion operations of U.S. bonds and resumption of specie payments (1874-79). Member, Committee of Seventy, which exposed the Tweed Ring in New York; chairman, New York City Rapid Transit Commission. A brother Jesse (1827-1894), b. Baiersdorf, was also a financier, associated with Joseph in banking firm of J. & W. Seligman & Co. (from 1862) and its president (1880-94). A son of Joseph Isaac Newton (1855-1917), b. New York City, was also a banker; associated with J. & W. Seligman & Co. (from 1876) and president of the firm (1894-1917). Another son of Joseph Edwin Robert Anderson (1861-1939), b. New York City, was an economist; taught at Columbia (1885-1931), professor (from 1891); a national expert on public finance and taxation; helped formulate personal income tax base and banking system later enacted as Federal Reserve System. Author of Essays inTaxation (1895), Economic Interpretation of History (1902), Principles of Economics (1905), Studies in Public Finance (1925), etc.

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