boatswain company in Sundsvall. He now began to engage in business, became a Burgess of Sundsvall, to be eligible for election to a member of parliament and was discharged from military service in 1851 with the rank of premierlöjtnant. In 1855 Wallenberg moved to Stockholm. Career As a banker, Wallenberg was a pioneer in Sweden. Already during his stay in the United States in 1837, when the Panic of 1837 occurred, he had the desire to become a banker when he "learned how banks should not be run". In Stockholm in 1852, Wallenberg sought to form a branch, but received "no sanction" due to the Sveriges Riksbank's proximity. A few years later, Wallenberg participated in the establishment of branches in Sundsvall and Hudiksvall and became Sundsvallsbanken's first manager. In 1856 he formed Stockholms Enskilda Bank; the capital, 1 billion, was fully subscribed in two days. Until his death, Wallenberg was the CEO of this bank. He introduced promissory notes, interest-free and payable on demand, a novelty, yet almost unknown outside Sweden, and by relatively high deposit rates developed the deposit and the revaluation and depreciation movement. Wallenberg also took an active part in the formation of the Skandinaviska kreditaktiebolaget, and it was to his credit that this bank's head office wasn't placed to Copenhagen, which Carl Frederik Tietgen wanted, but to Gothenburg. In 1861 Wallenberg was involved in the founding of the Stockholms hypotekskassa ("Stockholm Mortgage Bank"). For his financial wishes and ideas, he used the print media extensively. He was co-owner and contributor of the newspaper Bore from 1848 to 1851 and provided both pecuniary support and articles for Stockholms-Posten from 1869 to 1870. In Aftonbladet, Wallenberg wrote Ekonomiskt ("Economically") almost regularly once a week from 1865 to 1868. During the latter part of his life he published articles in various dissimilar newspapers, which seemed to him to promote his purposes. From 1853 to 1863 Wallenberg was a member of the Burghers' Estate of the Swedish Parliament (Borgarståndet), in which he soon became known as one of the more powerful and energetic forces of the liberal majority. He was also used by the same in the first three of his parliamentary meetings in the Standing Committee on Banking [and Currency] (Bankoutskottet), as well as in the fourth and last in the Committee of Supply (Statsutskottet). After the Representation Reform of 1865, he represented the City of Stockholm in the