The years between Parker’s resignation in 1871 and his death in 1895 were less dramatically eventful than what had come before, but they were not without substance.

His career on Wall Street in the 1870s was representative of the opportunities and the risks of the postwar financial economy.

The period between the end of the Civil War and the Panic of 1873 was one of intense speculative activity — railroad expansion, real estate development, and financial innovation created enormous opportunities for profit but also enormous exposure to risk.

Parker made money and lost it in ways that were not unusual for investors of the period, though the loss was painful and required a period of financial adjustment.