Modern Day Visionaries: Giannini and Marconi
By Katherine Thomas

In the 1870’s two very different but remarkable men were born, one in Italy and one in America. They were raised in different socioeconomic environments but they shared the same Italian heritage. These two revolutionaries have made a place in history. They are Amadeo Peter (A.P.) Giannini, an innovator and banking pioneer, and Guglielmo Marconi, an inventor and Nobel Prize winner. The superb contributions they have made to our society have helped shape the world in which we live.

A.P.Giannini was born in San Jose, California in 1870 to Italian immigrants. Coming from humble beginnings, young A.P. had an immense respect for the working class. In 1904, with very little start up capitol, he opened The Bank of Italy. He- wanted to assist working class men and women with their financial needs. This was groundbreaking, in that banking at the time was geared to business owners or the wealthy.

Giannini was the developer of nationwide banking, as we know it today. He started with a small amount of borrowed capital and used a grass roots approach in recruiting patrons. He rang doorbells and stopped people on the streets and educated them on the workings of a bank while simultaneously promoting the idea of deposits and loans. He believed there was money to be made by catering to the working class. He was honest and ethical and secured many of his business transactions with just the shake of his hand. He also pioneered what we know as installment credit. This allowed people to make a down payment on items they could not afford to pay cash for and then to make monthly payments.

In 1928 with much success under his belt he acquired Bank of America in New York. It was one of the city’s oldest lending institutions. By 1945 it was the largest bank in the country. Interestingly, he never took a large salary; his desire was never to be rich. His belief was that if he had too much money he would lose touch with the people he so longed to help. He always encouraged his employees and bank patrons to be stockholders in the bank. He believed in sharing the wealth. He devoted his life to public good. He died at the age of 79 with an estate worth less than one-half of a million dollars.

Many of the services we utilize today such as auto loans, mortgage loans and other installment credit can be attributed to this remarkable visionary. Every time we use our convenient ATM cards we should salute Giannini.

Guglielmo Marconi was born in Bologna, Italy in 1874 to a wealthy Italian landowner and his Irish wife. This intense young man had the finest of private educations and excelled in school. His fascination with science began at an early age. Marconi sent the first wireless message over 100 years ago. Although much work had been done in the field of wireless technology he is regarded as having the first practical system of this technology.

Marconi held many different patents relating to wireless communication. In 1901 one of his famous patents helped proved that wireless waves were not affected by the curvature of the earth and the first wireless signal across the Atlantic was successfully transmitted. At the time, this was probably the single most important discovery in the relatively new field of electronic communications.

After this extraordinary event he borrowed money from some of the largest banks in order to prove his belief that radio was a modern phenomenon that would make him vastly rich and famous. The British and Italian Navies soon adopted his system. By 1907 it was improved to the point that it was established for public use. In 1909 nearly 1700 lives were saved after a shipwreck in the fog due to the messages sent to rescue ships using Marconi wireless equipment.

For the next several decades he worked with some of the brightest inventors of his day. In 1909 in won the Nobel Prize in Physics along with Dr. Karl Braun. He applied for and held several different patents having to do with wireless technologies. He was extremely driven and ambitious. Although he did not invent radio his name is synonymous with it.

His contribution to wireless technology was paramount in Britain’s first advertised public broadcast in 1920. With the use of his transmitter the broadcast was heard in several different countries. Today it is second nature for us to enjoy music or news by simply turning on the radio. We can thank Marconi for helping to make that possible.

Both of these men were extraordinary in their respective fields. These two visionaries were persistent enough to realize their dreams and by doing so have made our lives easier.

Although it is very difficult to have a deeper admiration for one, I find I have an overwhelming reverence for A.P. Giannini because of his selfless acts of generosity to everyday people. I admire him for his spirit, his intelligence and his salt of the earth mentality. The knowledge and imagination of these two men, born over a hundred years ago, have impacted modern day culture. Salute!

Home/Eventi Futuri/Eventi Passati/Informazioni ICHF /Calendario / Donazioni /Contatti/Website