Early Augusta

To understand the history of Kennebec Savings Bank it is necessary to paint a picture of life in early Augusta as well as the state in general. Augusta dates from the early 17th century when the Plymouth Colony (Pilgrims) established a trading post on the Kennebec River at a site given the Indian name of Cushnoc. Later, in 1754 Forts Western (Augusta) and Halifax (Winslow) were constructed for protection of settlers.

Years prior to the Bank's incorporation in 1870, Augusta was already on the move, known as a great publishing center and manufacturing center for cotton, wool and paper. Notable events included the Kennebec bridge, built in 1797, which defined Augusta as a city occupying both sides of the Kennebec River. Maine gained statehood in 1820 when it separated from Massachusetts. The Kennebec Journal was established in 1825 by Luther Severance and Russell Eaton. Between 1802 and 1864, 60 coastal and deep water vessels were built. In 1830, the population of Augusta was 3,980. In 1832, Augusta became the capital city of Maine. The ability to harness the Kennebec for drinking water and power created a great boom for manufacturing in Augusta. In 1834, the Kennebec Dam Company was chartered, and in 1846 a 10,000-spindle cotton mill was established at the dam site, the fourth oldest mill in the country (later becoming Bates Manufacturing, famous for World Ward II field jackets and shoe linings). The hub of activity in early Augusta was Water Street. Along it were drug stores, clothing stores, banks, publishing houses, an opera house (one of Kennebec Savings Bank's early locations), hotels, the post office, doctors and dentists, saw mills, and horse stables. The surrounding countryside was still mostly farmland. The area prospered but not without its hard times.

<< Previous     I     Next >>