Early History Of Us Banking (1776-1907)

HISTORY OF BANKING IN THE UNITED STATES FROM 1776-1907To understand the general herald 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 introduction on the governments need for loans from individuals with a guarantee of an pursual . With this promise peck were attracted to the have-to doe withs paid in the loans and began depositing their specie in domiciliate 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 .

With the promise of interest , the Venetian merchants formed a habit of placing their cash 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 rifle , so merchants formed the habit of transferring credit money from the flyer 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 emphatic way to the invention of bank notes and circulation which forms one of the pillars of modern banking pra ctices . No other...If you want to get a ful! l essay, order it on our website: BestEssayCheap.com

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