In the development of our modern industrial society, the form of marketing institutions have constantly been in flux. New types of distribution have been brought forth to meet changing conditions only to become obsolete as a result of further change. An institution that became influential after the War of 1812, reached its heyday by 1825, and then declined into relative unimportance by 1840 was the wholesale auction system. In the Society's possession are the records of Jacob Peabody and Company, a Boston auction and commission house that operated in this era of the auctioneer. Study of the papers of this collection not only gives considerable detail on methods of conducting an auction business, but also discloses much on the historical development of the auction system in this period.