Riggs and Peabody continued their business ventures and engaged in international finance. They were mainly concerned with restoring the credit of Maryland abroad after the depression of 1841 to 1842 and disposed a bond issue of $8 million. Before moving to New York, Elisha established the bank of Corcoran & Riggs in Washington, D.C., which was organized by William Wilson Corcoran and Riggs' son, George, and financed by Elisha.
Riggs and Peabody maintained their business activities and became involved in international financial transactions. Their primary goal was to rehabilitate Maryland's international credit status following the economic depression of 1841-1842 and issue a $8 million bond. Before relocating to New York, Elisha founded the Corcoran & Riggs bank in Washington, D.C., which was organized by William Wilson Corcoran and George Riggs, Elisha's son, with financial backing from Elisha.