Site History 
      The part of  Baltimore that is home to the Federal Reserve site was settled in the late  eighteenth century and occupied as a residential neighborhood until the early  twentieth century.  Growth was slow  during the early nineteenth century, but by mid-century, both residential and  business development had increased dramatically. Many of the lots along Sharpe  Street north of Welcome Alley were residences of slave holding property owners,  suggesting this area may have been more upscale than further south along the  block. At the end of the century, homes for individuals who worked in the  neighborhood were interspersed with saloons, general stores, stables, and a  sash weight factory and pickle plant.  By  the early twentieth century, development south of Welcome Alley was all  industrial and included a lime and cement plant, a cooper and a blacksmith  shop. By the late 1920s, standing row houses were demolished for the expansion  of the Baltimore and Ohio Railroad’s Camden Yard terminal.   
      Archaeology 
      In 1980,  Mid-Atlantic Archaeological Research, Inc. of Delaware conducted archaeological  investigations in Baltimore at the future site of the Federal Reserve Bank of  Richmond.  The project encompassed three  city blocks in the Otterbein neighborhood west of the Inner Harbor. The  majority of the work occurred in a one block area bounded by Barre Street to  the north, Lee Street to the south, Howard Street to the west, and Sharpe  Street to the east. Welcome Alley bisected the block east to west.  
      With bank  construction beginning almost simultaneously as the archaeological fieldwork,  excavations were conducted in a rushed fashion.   Since only a few weeks were allotted for the fieldwork, the project’s  goal was to recover as many archaeological resources as possible before  construction forced archaeologists to discontinue work.  Most of the standing buildings had been  demolished prior to the archaeological work and earthmoving equipment had mixed  the soil, further complicating the process of interpretation and  excavation.    
      Most of the  archaeological excavation focused on the backyards of former residential  properties that had once fronted on Sharpe Street and backhoes were used to  isolate the locations of features such as building foundations, cellars,  privies and wells.  The excavations  resulted in the discovery of 52 features in the project area. Artifacts  recovered from the features were washed, but not catalogued as a part of the  original project. Artifacts and records associated with the archaeological  investigation were sent in 2006 to the Maryland Archaeological Conservation  Laboratory at Jefferson Patterson Park and Museum in St. Leonard, Maryland for  curation.  
      Summary by Patricia Samford 
      References 
      
        
          | Basalik,  Kenneth | 
         
        
          | 1994 | 
          Urban Development in the  Eastern United States:  An Archaeological  View from Baltimore, Maryland.   PhD  dissertation, Temple University.  University  Microfilms, Ann Arbor. | 
         
        
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          | McCarthy,  John P. and Kenneth J. Basalik | 
         
        
          | 1980 | 
          Summary Report of  Archaeological Investigations Federal Reserve Bank Site, Baltimore,  Maryland.  Report prepared for the  Maryland Historical Trust by Mid-Atlantic Archaeological Research, Inc.,  Newark, Delaware. | 
         
        
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    Archaeological collections from the Federal Reserve site are owned by  the Maryland Historical Trust and curated at the Maryland Archaeological  Conservation Laboratory.  |