Not quite true. They didn't have Microsoft & Exxon either but they had monopolistic shipping magnates, huge land owners, lumber companies, coal companies, merchants of cotton & tobacco, trappers & trading companies etc. And YES, they had large banks. I would say that ALL were comparable to the massive companies of today.<quoted text>It's 2013 not 1794, they didn't have huge corporations, Wall Street and huge banks buying the government back then.
The type of company is not relevant, it is the proportion of the GDP. That's where the power is.