Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-10-06

"rhc hsior, uf Greece Il ono OF 10
people continually torn los ,tu disc
tuelons says scientific American.
As thc Narious states were 3, ilous
aud always at odds. 500 Ncr, mon. and
o. runHrguoncr inc religious tenn
p. was rc.ustru n ts depository
fnr safek,oping "f precious metals ana
j'W'ls These religious Institutions
played uo Wnimunrtpui part la tle
Vie; eiopmvut of tuc earlier creek
rumm rec rn,y hold vast sum. 0f
snid plate. and this together with
fortunes ui hcr own derived from
N"iitr on'riuts. the, rmulnNrd pro-
durtiNcb fur h,lt pNu use They
loaned mon,y 90 high rate OF inter
est 1ud thi= custom very lktlA sug-
gcstcd tn uthors the idea OF doing
likewise. Passion was probably the
first 90 De- this re founded % mousse
at Athens operating With capital
coz 600 pI.nts. D, established for
hiWsnf urst rot, credit go au r.ut,rs
of lrrek commerce 10 was this way
businus sci could hc transacted uy tho eN-
epangH nf tott Of l,ttrr OF credit Ia
place Of payment JOB rnIu Tho Iuifu-
ductinu nf u.s system. despite its
small Hf, Shows thr growth of com
mvr.al activity WHr upon war icd
to Zoo gradual roInIse of tle treasures
Dumulattns in tuu nplrs. and bis
urv hhnkng' system pi'l un 60, mar
k't moH,s Nh..H wopld othern isc
have been r'.-i,d." Th' interest
ratio Vas htgh Twelve per cent uHs
paid for fi, Iniu cot money
"tt might be-. vciis "a saN word
h,re cuicefufe oriein OF fhr term
bnnk SOM. unuriu,s hptc 10 mat
a. misiu .nd Zoo Che lulmn
word 'hanrl. . u.uch used bt money
chlnstrs boz tar unrket place other
WilortirH maintain that th, torn
take. it. origin tom the odd German
word banck pie. mound. heap. as
cot prrciuua metal Gr,ck bunk,rs
ttrupczltnti maintained their stands
bon TN Aporl ud combined in their
NpHafipn "a nuwurf ~ gyhcr business, r.
ThrY changed munR. lopuBht torrieu
mpnr, tt discount furnished sold f'r
cNpnrt, lueurd money t0 merchants
on security uf .lips aud their ear
Eors. and r,c,tpd SUNK on deposit
Tor Nhirh thps paid interest Thr}
later on often acted AS pawnhroksrs
accepting gold pInt, and Jewels AMI
other prrsonll property w have
40 evidence thut amy uf these ancient
banks and bankers we're ever gunran-
trod hy thr -tutr, aud Nery likrI
tbrs were NOT pnc exception MAY
have existed however. " Ne are to
credit Aristotle. l the ease of ny-
ganupm, la Rom, sankcrs are known
90 have existed it rirli ~ sos g. e..
their functions being practically iden-
ucM with thpfo ni Greece. We have
"a triflc more reliable Information com
corning these Roman bankers thHn we
have eff the Gr,g.au. TAeir turious
hranchrs OF dolu1 business seem Go
have been ur follows.
"Thcir permntHun. or DXchnngr ~
forflgn coin Tor Roman currency For
this ihDy charged commission or ca
chHnpr. subsequently. when tnN
Eumaus acquainted themselves Win
To- Crock method nf bills of exchange.
thfy received money ahlch Nna 90 hr
paid az Aihrns Tor instance. and
drev "a draft of exchange upon some
Athonlau banker with whom they ran
an account Their dcnosltum or
kecpinp of sums nf money Tor other
nersons Cash might be deposited
merely for safo.krcplng, In which
ease the banker (Nrsonlariuml paid
NO interest When % payment was
10 be- made the owner WIS required io
draw check, as In modcrn times
Rut The deposit might have been
medc upon the stipulation that inicr-
ost be- paid. ln Nlirh cycni the trans
notion was called "a crr1itnm The
banker could tncn employ this money
hi bis own interests In The event ~
Hlbire OF hank tha law enacted that
tbt clalm of ihe dopositaril should be
srslsned nofnfr those ~ creditors who
had money deposited 60 their credit az
Interest.
t"of an reoeipw lad eypcWtures
these bankers kent an accurate acc
count IN books called cpdircg and We
have every reason 60 believe that they