Press Releases

NEW BEDFORD WHALING MUSEUM AWARDED PRESTIGIOUS GRANT FROM THE INSTITUTE OF MUSEUM AND LIBRARY SERVICES

NEW BEDFORD, MA (11.1.09) - - Wall Street today could take a cue from New Bedford's 19th-Century banking industry. At least that is what Michael Dyer, Maritime Curator of the New Bedford Whaling Museum, hopes to prove through an analysis of a treasure trove of bank ledgers from the Merchants Bank.

"It didn't take our research team long to discover just how effectively the Merchants Bank functioned through two depressions and a Civil War," said Dyer.

With support from Congressman Barney Frank, the Museum has received an Institute of Museum and Library Services (IMLS) grant of $147,500 to preserve an important collection of 1,800 historic ledgers from the Merchants National Bank.

The IMLS Museums for America grant will create three new jobs and secure one other at the Museum.  The Museum is currently seeking qualified applicants to work on this project.  Historians and archivists will survey and index the collection of books and make the information available to the public.

"We're delighted that the Merchant's National Bank Collection is being recognized on a national level," said John N. Garfield, Jr., Chairman of the New Bedford Whaling Museum's Board of Trustees, "The story of New Bedford's economic successes is a story that needs to be researched and told.  In the 19th century, this was a city on the cutting edge—innovation, discovery and entrepreneurialism were the watchwords of the day.  These bank ledgers will give us a unique insight into daily life during the region's most prosperous 100-year period.  We are very grateful for the IMLS grant, and for the enthusiastic support from the Massachusetts congressional delegation, to help preserve this important chapter in New Bedford's past."

Congressman Barney Frank noted, "The New Bedford Whaling Museum captures an exciting and important part of the city's history, when it was one of the major whaling ports in the world. I am pleased to have been able to help the museum win this competitive grant, which it so richly deserves for the essential role it plays in teaching new generations about the city's rich past."

The collection of ledgers—stacked in 3-feet-high layers on 9 full pallets weighing more than 4 tons—represents a complete record of the daily activities dating from the Bank's inception in 1825 and spanning the age of whaling under sail, the height of textile production, and the years leading up to the Great Depression in the mid-1930s. "This is an exciting opportunity to provide public access to an incredible depth of information about New Bedford's financial history," said Garfield, "It is exciting to finally be in the position of having primary source material that documents wealth-generation—and the impact New Bedford had on a national economy that was dominated by the maritime trades."

The newly-acquired collection of ledgers was discovered last fall in the attic of the bank's former location on the northwest corner of Purchase and William Streets, now owned by the United Way of Greater New Bedford.  Michelle Hantman, president of the United Way and a New Bedford Whaling Museum trustee, recognized the historical significance of the Bank Books and helped to ensure their preservation.

Calvin Siegal, a Whaling Museum's trustee who has helped obtain the collection for the Museum, noted, "Our family has had a history of banking with the Merchants National since 1929.  There are numerous lengthy local connections with this bank. To have these records available going back a century is indeed invaluable for historians.  All the folks involved in making this project a reality are to be congratulated.  And now the fun work begins."

Senator John Kerry noted, "For more than 100 years, the New Bedford Whaling Museum has been displaying and interpreting historically-significant objects in a way that brings U.S. history to life. I look forward to progress on the Merchants Bank ledger project that will further enhance the Museum's ability to share our rich history with Massachusetts residents and visitors from around the world."

Dr. Anne-Imelda M. Radice, Director of the Institute of Museum and Library Services said, "By making it their mission to provide the public with top-notch programming and knowledgeable staff, the 2009 Museums for America grantees have demonstrated that they know what is important to their communities. In 2006, 156 million U.S. adults visited museums 1.2 billion times, in person and remotely. These numbers prove that museums are vital institutions that play a significant role in people's lives."

The Institute of Museum and Library Services is the primary source of federal support for the nation's 123,000 libraries and 17,500 museums. The Institute's mission is to create strong libraries and museums that connect people to information and ideas. The Institute works at the national level and in coordination with state and local organizations to sustain heritage, culture, and knowledge; enhance learning and innovation; and support professional development. To learn more about the Institute, please visit www.imls.gov.