The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-17

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HISTORY OF BANKING IN THE
UNITED STATES, by John Jay Knox.
Bradford Rhodes s. Co.. New York
Price s..
In his preface to this book. Mr.. Brad
=: ford Rhodes tells us that IAN orderly
presentation Of the salient facts in the
! banking history of the United States IS
task beset with so many difficulties thal
heretofore no attempt has been made IN
| this direction" Mr. KnoX's History OF
! Banking, therefore supplies "lons-telt
want The author by talent and train
| ing, was eXcelently well fitted for his
! difficult task. He was a college-bred man,
! and soon after graduating, he took posi-
| ton In a bank at Vernon, N V. OF which
| his father was president. He afterwards
contributed two carefuily-prepared papers
! to Hunts Merchants Magazine, ana
| through these first attracted attention as
| financier in the discussions preceding
! the establishment OF the national banking
| system. Having thus been brought into
| prominence he was appointed by Secretary
, Chase to a clerkship under Treasurer Spin
| er and served the government three years.
| when he became cashier of the National
! Exchange Bank OF Norfolk. Va He sub
| seuuently returned to Washington and
! was appointed Comptroller of the Cur
! rency by President Grant. AT the eNpira-
ton of his term In 1877. he was re-appoint-
! ed by President Hayes and also served
! IN that capacity under President Arthur
! but in May, 1854. he resigned TO become
| president of the National Bank of the Re-
| public in New York city
| Jr was an ambition OF Mr.. KNOX 10
| publish history of banking and several
| years before his death he entered upon
| that work. He had completed the first
| part of his history when his death occur
red in 1892 The publishers then took up
| the work where he had left it off but I'm
j shed the volume on the lines mapped
F., out by the author
| In Part I. the author gives chapter ON
I the origin of banking; another on banking
/ in the colonies; another on the Bank OF the
| United States and 50 on TO the establish
| ment of the national bank system of the
| present day.
! Part II. deals with banking under State
| laws and in this is 4 sketch OF banking In
| each State
+, The chapter of Virginia banking was
! written by Mr.. John D. MurreI, of the
! editorial staff of the r Edmond Times. and
{ is a valuable contribution to the history
! and financial literature of this Stale. II
j is, we believe the only logical and con-
| secutive collation. of data relating to Viz
! gina banking and Mr. Murrell In prose-
| cutting his work was compelled to dig
his facts out of the acts of the Legisla-
J ture. However difficult the task the fact
{ is that the author has succeeded in tracing
| the history of Virginia banking from the
! time when tobacco was used as currency
to the establishment of the present sys-
| TEN. From this chapter learn that the
! Bank OF Alexandria was the first bank
| chartered in Virginia. The act of ineor-
| poration was raised November .. 1872.
! The Bank OF Richmond was established
/! one month later The capital stock of
| the Bank of Richmond was 100000 in
I, shares OF $500 each, and there were allot-
! 1nents of stock 10 Richmond, Norfolk.
Petersburg and Fredericksburg.
| That part of Mr.. MurreI's work pertain
ing to State Banks of issue is particularly
Interesting and is complete vfndicat-on
! of the system. He says that there IS no
| case on record where a bank OF cir
culation and deposit failed: that it is
claimed by those familiar with the banking
! of that day that no one ever lost a dollar
!, by Virginia bank-note before the war of
1861 and that suctl notes were at a dis
| count of only quarter OF per cent. in
/ New York
Mr. Knox and his col1aoorators have in
| this value given students of finance the
! means of becoming familiar with the facts
| concerning many questions that have been
dragged into our national politics and
/ we heartily commend il as an excellent
/, campaign book for 1900. TIE professional
/ politician may not find in its pages Just
| what he IS looking for TO bolster up his
. argument, but those who are after the
! truth will read knoS's History OF Bank
, ing 10 their profit
| The interest of the book is enhanced by
sketches and portraits of some of the most
/ prominent fnanciers of the country
| Robert Morris Alexander Hamilton, Ell
! bridge Spaulding, Salmon P. Chase and
| several Others OF like fame
THE FAITH OF THE AGES. a series of
4, meditations devotional and practical, on
| the Apostles Greed. by the Rev. Thos
Spencer, Petersburg, Va, Franklin Press
Co.. 1900. Price. 5Qc-
! There is a genuine need for just SUCH
a book as this is, a book calculated to
help many VINO sincerely believe IN Christ.
| but have not thought much about their
belief.
! In these short media tons Will be found
a clear commentary on the Creed, and a
most helpful devotional study. while the
brevity and conlpactness of the little book
both IN its style and printed form. are
| very inviting to the busy reader. The
treatment Is most scripturai and most
reverent Il Is the systematic expression
/! Of personal and devoted faith. which IS
in itself deeply appealing without ma KING
i appeals The value of these med.tattons
Is attested by many who have followed
with profit their delivery IN public ana
4 ~ w. n.