American Banking Before The
American Banking Before The Civil War 1. Bank Of North America.the Bank Of North America Was The First Bank Of Importance Established On The American Continent. It Was Founded By Robert Morris At Philadelphia In 1781 In The Hope That It Would Give Financial Support To The Young Re Public. ...
Bank Notes 1
Bank Notes 1. Definition.—a Bank Note Is The Promise Of A Bank To Pay Money To The Bearer On Demand. At One Time It Was The Custom Of Banks In The United States To Issue Notes Payable At Some Fixed Time In The Future. Such Notes Were Called "post Notes" ...
Bank Organization And Administration
Bank Organization And Administration 1. Bank Is Ordinarily Incorporated, And Its First Requirement Is A Charter. The Steps Which Must Be Taken Before Beginning Business Are Set Forth Clearly And Explicitly In The National Banking Act And In The Laws Of The Various States. An Association Of A 'certain Number ...
Banking Reform Inthe
- Banking Reform In The United States 1. Defects Of The National Banking System.—the Advantages And Defects Of The National Banking Sys Tem Have Already Been Pointed Out. It May Be Well To Summarize The Defects Briefly. There Are Four Im Portant Criticisms, As Follows: (1) The Note Circula T ...
Banking In Europe 1
Banking In Europe 1. Bank Of England.—like Many Other Banking Institutions, The Bank Of England Had Its Origin In The Needs Of The State. It Was Established In 1694 Chiefly For The Purpose Of Assisting The Fiscal Opera Tions Of The Government, Which Was Badly In Need Of Money On ...
Banks And The Government
Banks And The Government 1. Degree Of The First Chapter Of This Book, It Was Explained That Banking Was Once A Com Mon Law Right Which Could Be Exercised By Any Indi Vidual Or Group Of Individuals As They Chose, And It Was Explained How People Gradually Came To Realize ...
Canadian Banking System 1
Canadian Banking System 1. Banks And The Government.—the Canadian Banking System Is Generally Recognized As One Of The Best In The World, If Not The Very Best. It Is So Often Held Up As A Model For The United States To Follow That Every Student Of Banking In This Country ...
Classes Of Banks 1
Classes Of Banks 1. Primary Functions Of A Bank.—the Great Metro Politan Bank Of Today Presents An Appearance Of Mys Tery To The Ordinary Observer Who Examines It For The First Time. It Has So Many Interests, Its Influence Is So Far Flung And The Sums In Which It Deals ...
Deposits And Checks 1
Deposits And Checks 1. Special And General Deposits.—there Are Two Kinds Of Deposits, Special And General. A Special De Posit May Consist Of Anything Of Value Left With The Bank For Safekeeping. The Relation Between The De Positor And The Bank In Such A Case Is Much The Same As ...
Establishing Bank Credit 1
Establishing Bank Credit 1. Opening An Account.—every Young Man Should Open A Bank Account As Early In Life As Possible, Pay His Bills By Check, And Learn To Transact His Business In The Systematic Way That The Keeping Of A Bank Ac Count Requires And Facilitates. The Bank Usually Ex ...
Federal Reserve System 1
Federal Reserve System' 1. Reserves Of Member Banks.—the Federal Re Serve Act Changes The Reserve Requirements For Na Tional Banks In Two Important Ways. The Percentage Of Reserves Required Is Lowered; And The Reserves Which Might Be Deposited With Approved Reserve Agents In Reserve And Central Reserve Cities Under The ...
Loans And Discounts 1
Loans And Discounts 1. Duration Of Loans.—shall A Bank Make Loans For Long Periods Of Time Or For Short Periods? This De Pends Upon The Kind Of Liability The Bank Is Assuming Against Its Loans—whether It Is Giving Demand De Posits Or Time Deposits Or Cash In Exchange For Them. ...
Operations Of A Commercial
Operations Of A Commercial Bank 1. Commercial Banks.—nearly All The Business Of Buying And Selling, And Much Of The Producing And Manufacturing, Is Of Such A Nature That The Banking Needs Can Best Be Taken Care Of By Commercial Banks. For This Reason A Great Part Of The Present Text ...
Resources Liabilities
Resources Liabilities Cash $1,000 Deposits $5,000 Loans And Discounts 4,000 On The Basis Of The Original $1,000 Cash Deposit, For Which The Bank Pays Little Or No Interest, $4,000 Of Interest-bearing Loans Are Made. If The Bank Pays No Interest On Deposits, And Charges 6 Per Cent On Loans, It ...
State Banks And Trust
State Banks And Trust Companies 1. Growth Of State Banks.—state Banking Has Not Received The Attention From Writers On Banking Which Its Relative Importance Warrants. This Neglect Is Probably Due In Part To The Great Difficulty Of Obtain Ing Accurate Information Concerning The Many Varie Ties Of Banking Practice Which ...
The Bank Statement 1
The Bank Statement 1. Purpose Of A Bank Statement.—it Is A Peculiar Ity Of The Banking Business That It May Have A Com Plete Report Of Its Condition At The End Of Each Day. As Stated In The Preceding Chapter, The Purpose Of A Is To Show The Condition Of ...
The Clearing House 1
The Clearing House 1. Primary Functions.—the Essential Function Of A Clearing House Is To Simplify And Facilitate The Daily Exchanges Of Items Between Banks And The Payments Of Balances Due To And From One Another. Other Im Portant Functions Have Been Added Gradually Until The Clearing House Is More Than ...
The Federal Reserve System
The Federal Reserve System 1. Federal Reserve Act.—when The Democratic Party Came Into Power In 1912, It Considered Itself Bound By Pre-election Pledges To Bring About Some Sort Of Banking And Currency Reform, But It Felt Com Mitted Against Any Scheme Which Would Involve The Establishment Of A Central Bank. ...
The National Banking System
The National Banking System 1. Origin Of The National Banking System.—the Establishment Of The National Banking System Was The Result Of The Unsatisfactory Financial Conditions Which Obtained During The Civil War. Partly Thru Incom Petency And Partly Thru Fear Of Political Consequences, Congress Did Not Attempt To Secure Revenue By ...