1852
March 18
Wells and Fargo start shipping and banking company
On March 18, 1852, in New York City, Henry Wells and William G. Fargo join with several other investors to launch their namesake business, today one of the world's largest banks.

The discovery of gold in California in 1849 prompted a huge spike in the demand for cross-country shipping. Wells and Fargo decided to take advantage of these great opportunities. In July 1852, their company shipped its first loads of freight from the East Coast to mining camps scattered around northern California. The company contracted with independent stagecoach companies to provide the fastest possible transportation and delivery of gold dust, important documents and other valuable freight. It also served as a bank—buying gold dust, selling paper bank drafts and providing loans to help fuel California’s growing economy.

READ MORE: 8 Things You May Not Know About the California Gold Rush

In 1857, Wells, Fargo and Co. formed the Overland Mail ...