Steven and Catherine Bell trace Uncle Sam's nickname to Samuel Wilson, who packed beef for the U.S. Army in 1813. They connect that entrepreneurial spirit to modern finance, discussing COVID-era bank problems and their approach to compassionate capitalism.
September 7, 1813, in Troy, New York.
"E Pipe and Bull" — an artist proof lithograph Rockwell did for the Saturday Evening Post (signed).
My fellow compassionate capitalist, Steven, Catherine here. I had to stoop down a little bit. We are vicariously hanging on the edge of the staircase in order to bring you all things American today. No, we have not turned into a bunch of pico commies. We are compassionate capitalists. Catherine says she's in her workout outfit. I have no idea. Nor do I have an excuse for wearing a pink shirt and us looking like we're some old couple that dresses alike. But, hey, it's all about America today, believe you me. In fact, here we have the reason why we're hanging off the staircase. So if we have to catch something or whatever, you'll understand. That's our camera about head down two stories. However, right here in back of us is Norman Rockwell's. It's his original painting that he did for the Saturday Evening Post, the very first issue. So this is entitled E Pipe and Bull, and it's got the little tavern there and of course, the whole little colonial theme. So that's. That's why we have it. It's. It's actually his artist proof. That's lithograph and. But he signed it and everything else like that. So yay us. We have it in the museum. Also today, on September 7, 1813, in Trenton, or, excuse me, Troy, New York, a man by the name of Samuel Wilson. Are you pointing that out for me? Okay. In case I got lost there by the pain. A man by the name of Samuel Wilson was packing beef in a barrel for the United States government for the War of 1812. And, boy, nothing sounds as appetizing as beef in a barrel. Just like maybe a Slim Jim. I don't know. That could be the closest comparison. Beef in a barrel. Mm. Slim Jim beef stick. That was dead on for Sling Blade. Billy Bob Thornton would be proud of that imitation. Hey, I know you didn't hear. You didn't come here to listen to me talk about pinko commies and bad Billy Bob Thornton impressions and stuff like that. But I'm just going to do a flawless segue over here to the person you really came to listen to that. Hey, what's worse than beef in a barrel? Well, the government trying to fulfill its promises when it comes to. We'll be here for you. Just don't pay your mortgage. It's okay. So take it away, Kathryn.
So what I love about these stories and then he brings up in history is the piece of Samuel Wilson. That's how the government got the name Uncle Sam. Yes.
You know what? I totally forgot about that. Thank God she's reading the prompter while I'm trying to make it look all spontaneous. And yes, the most important fact, he stamped it US for United States. My God, how many countries are we selling beef in a barrel to? But US for United States? And then the soldiers just started calling it Uncle Sam because Samuel Wilson, I'm so glad that again, I'm getting old. That's why we dress alike. The brains, not what it used to be. But she's still sharp as a tack. So I'll go ahead and segue right back on over.
So here's what I love about this country is, you know, Uncle Sam, Samuel Wilson found a need and he filled it. That's what this country is built on, is entrepreneurs who look for a problem and they solve it. And that's exactly what he did. And that's exactly what we're doing, even.
If it's not pretty beef in a barrel.
Right. Well, even given what's going on with the moratoriums and everything, it's like, you know, we don't like what's going on with COVID or what's happening to people's families or their jobs or communities or whatever. And the government is doing the best that they can. But the reality is, is that it's entrepreneurs and the entrepreneurial spirit that continue to provide solutions and truly are. Are the engines behind having this country be an amazing country. And so with the moratoriums that are coming or that are here and soon to be lifted, the ripple effect and the impact that it's going to have on our economy is. Yeah, it's so probably the same effect.
After eating a beef that's been in a barrel. I'm just saying.
Well, but the soldiers needed protein.
They did.
He was looking for a solution. And so here we are providing a solution. So what's going to happen is that these banks are going to have all these bad assets, that the government, the Fed is going to come in and tell them that they need to get it off their books. And so what does that mean? It means that by them getting the banks getting these bad assets off their books, then the banks are. The money is freed up to continue lending out to businesses, which keeps people employed, which keeps people be able to pay their mortgages and bills and keeps them in the community. So. But where these bad assets go, well, we are the solution for that. We are the ones who have the barrels that we're putting the beef in, so to speak, and we are turning it and making it work.
The badass sets. I just had to say that because Kathryn already said it four times. Number four, my Lord.
Anyway, we provide an opportunity for our investors to get involved and to help make a difference in our economy and be compassionate capitalists while obviously adding commas to their bank accounts as well. So it ends up becoming a win, win, win. A win for our investors, win for the banks, a win for the borrowers, a win for the communities, a win for the employers, a win for everybody. So if you're interested in learning more about this, we have a newsletter that comes out every week. We'd love to share that with you and you can learn more about how to get involved as well. So if you go ahead and comment, like click share it with any of your friends and family that may be interested in learning about becoming compassionate capitalists. I think one of the things that's really important for us is, you know, our good friend Anthony Williams says that financial literacy is the unfair advantage. And so we're all about providing financial literacy not only to our family and friends, but to our entire community. So we we'd love for you to join our newsletter list and learn more fun facts about history and how this great country was created and how to be compassionate capitalists.
So with that, nothing more American than Uncle Sam, Norman Rockwell, people in pink shirts dangling off a staircase telling you may you never awake from the American dream.
