J. C. Fargo

James Congdell Fargo (1829 – 1915) is a former president of American Express.

He was the younger brother of William Fargo, founder of American Express and Wells, Fargo & Co., and became the third president of American Express after William's death in 1881.

Sometime between 1888 and 1890, J.C. Fargo took a trip to Europe and returned frustrated and infuriated. Despite the fact that he was president of American Express and that he carried with him traditional letters of credit, he found it difficult to obtain cash anywhere except in major cities. Mr. Fargo went to Marcellus Flemming Berry and asked him to create a better solution than the traditional letter of credit. Mr. Berry created the American Express Travelers Cheque which was launched in 1891 in denominations of $10, $20, $50, and $100. [ [http://www.time.com/time/magazine/article/0,9171,866900-7,00.html Host With The Most] , Time Magazine, 9 April 1956 issue]

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