Monday, November 4, 2013

Early History Of Us Banking (1776-1907)

HISTORY OF BANKING IN THE UNITED STATES FROM 1776-1907To understand the general field of study of banks in the United States , let s first look at the history of the beginning of banking system . The first institution that resembled what is considered a bank today was first seen in Venice . Its origin is menage on the governments need for loans from individuals with a guarantee of an pursual . With this promise great deal were attracted to the cheers paid in the loans and began depositing their specie in house created by the government to collect the loans from people and overseeing the punctual re advantage of the interests and loans . As a result of this , the chambers saw a need for the creation of bills for selling and exchange .
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With the promise of interest , the Venetian merchants formed a habit of placing their bills with the chamber for safe keepingThis marked the beginning of the banking business of deposit , a common feature of modern banking procedures . It later occurred that credit for money in the chambers was more than money in the filter out , so merchants formed the habit of transferring credit money from the billhook of the payer to the receiver . At the beginning of this method of remuneration was voluntary but later it was a requirement by the law for payment of large sums of money . This was a exclamatory way to the invention of bank notes and circulation which forms one of the pillars of modern banking practices . No other...I f you want to get a full essay, order it on ! our website: BestEssayCheap.com

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