BANISHMENT. A quitting the realm, either voluntarily, as by abjuration ; or com pulsorily, as by transportation.
BANK (in Commerce.) An establishment for the receiving of moneys, and letting them out on interest. Banks, like most commercial institutions, originated in Italy, where, in the infancy of European commerce, the Jews were wont to assemble in the market places of the principal towns, seated on benches, ready to lend money ; and the term bank is derived from the Italian word bane, (bench.) Banks are of three kinds, viz... ofdeposite, of discount, and of circulation. In some cases, all functions are exercised by the sane establish ment ; sometimes two of them ; and in other instances, only one of them. The first bank was established at Venice about 1157, and the name of Banco was given to it in Italian, from the bench which the money-changers or bank ers used to sit upon in their courses or ex changes. The bank of Genoa was established in 1345; that of Amsterdam, in 1509; that of Hamburgh, in 1619 ; that of Rotterdam, in 1635. The Bank of England, one of the last,
but at present the greatest of its kind, was es tablished by charter in the reign of William and Mary, into a corporate body, by the title of the Governor and Company of the Bank of England. Its notes form the currency of the kingdom to a certain extent, and amount to bttween twenty and thirty millions. The Bank of England is also the Government Bank, and pays the interest of the national debt. The' present bank of the United States was charter ed in 1816, with a capital of 35 millions of dollars. In January, 1829, it had 21 branches in different parts of the Union, and its general concerns were highly prosperous. There are about 400 other banking companies in the Uni ted States, incorporated by state legislatures. About seven eighths ofthese have capital and credit, and business : the other one eighth am either broken or of doubtful standing. Public and private banks are now very common in most civilized countries.