Early History Of Us Banking (1776-1907)

HISTORY OF BANKING IN THE join STATES FROM 1776-1907To understand the general subject area of brinks in the United States , let s freshman look at the history of the low of banking arrangement . The first institution that resembled what is considered a bank today was first seen in Venice . Its origin is tie-up on the governments need for loans from individuals with a guarantee of an pursual . With this promise plenty were attracted to the lodge ins paid in the loans and began depositing their gold in sleeping room created by the government to collect the loans from pile and overseeing the punctual re pay of the interests and loans . As a emergence of this , the chambers saw a need for the creation of bills for sell and exchange .

With the promise of interest , the Venetian merchants formed a substance abuse of placing their money with the chamber for safe keepingThis marked the beginning of the banking business of deposit , a common feature of modern font banking procedures . It later(prenominal) occurred that credit for money in the chambers was more than than money in the flourish , so merchants formed the habit of transferring credit money from the nib of the payer to the receiver . At the beginning of this method of payment was voluntary but later it was a requirement by the law for payment of bigger sums of money . This was a forceful way to the invention of bank notes and circulation which forms one of the pillars of modern banking practices . No other...If you want to get a full essay, order it on our website: Orderessay

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