Arnold Constable was the first American department store. It was founded in 1825 as a small dry goods store on Pine Street in New York City. In 1857 the store moved into a five-story white marble dry goods palace known as the Marble House. During the Civil War, Arnold Constable was one of the first stores to issue charge bills of credit to its customers each month instead of on a bi-annual basis. The store soon outgrew the Marble House and erected a cast-iron building on Broadway and Nineteenth Street in 1869; this "Palace of Trade" expanded over the years until it was necessary to move into a larger space in 1914. Financial problems led to bankruptcy in 1975.
