Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1911-04-21

ed, however, to favor the claim OF
other authorities, who maintain that
the term takes it's origin from the old
German word Banck-a pile, mound
heap, as Of precious material.
Greek bankers (trapezitae) main
tanned their stands in the Agora, and
combined i'm their vocation a number
of other businesses. They changed
money, bought foreign money at dis
count, furnished gold for export, loan
ed money to merchants on security Of
ships and their cargoes, and received
sums on deposit for which they paid
interest. They later on often acted
as pawnbrokers, accepting gold plate
and jewels and other personal proper
ty.
We have no evidence that any of
these ancient banks and bankers were
ever guaranteed by the state, and very
likely they were not. One exception
may have existed, however, If we are
to credit Aristotle, in the case Of
ByZantium.
In Rome bankers are known to have
existed as early as 309 B. c., their
functions being practically identical
with those Of Greece. We have a trifle
more reliable information concerning
these Roman bankers than we have Of
the Grecian. Their various branches
of doing business seem to have been
as follows:
Their permutatio, or exchange Of
foreign coin for Roman currency. For
this they charged a commission or ex-
change. Subsequently, when the Ro-
mans acquainted themselves with the
Greek method of bills of exchange,
they received money which was to be
paid at Athens, for instance, and drew
draft Of exchange upon some Athen-
ian banker with whom they ran an ac-
count.
Their depositum was for keeping Of
sums Of money for other persons. Cash
might be deposited merely for safe
keeping, in which case the banker (ar-
gentarium) paid no interest. When a
payment was to be made the owner
was required to draw a check as in
modern times. But the deposit might
have been made upon the stipulation
that interest be paid, In which event
the transaction was called creditum.
The banker could then employ this
money in his own interests.
In the event Of failure of a bank
the law enacted that the claims Of the
depositarri should be satisfied before
those of creditors who had money de-
posted to their credit at interest. The
argentarri never delivered money to
any one except upon receipt Of check,
and the payment was made in cash, or
If the person who received 1t kept an
account with the same banker the sum
was credited to his account.
Of all receipts and expenditures
these bankers kept an accurate ac-
count in books called codices, and we
have every reason to believe that they
were familiar with double-entry book
keeping. Thus the argentarri carried
OH DuSlIleSS dlInOSl lucIllCdl VIII
that of the modern bank. They COM
bined with their regular banking
business other avocations of a kindred
nature. They often acted as agents at
private sales and auctions. They act
ed as brokers, too, in the modern sense,
and frequently undertook to sell entire
estates as inheritances.
For many years the ancients main
tanned that charging interest partook
of the nature of usury, and men Of
this profession did not enjoy the very
highest reputation. After a time.
though not escaping reproach, the
higher class of bankers maintained a
good name and enjoyed a reputation
for honesty and ability. Their credit
in all parts of the commercial world
enabled them to raise on short notice
large sums of money in foreign cities
Much confidence was finally placed in
them, business often being transacted
without witnesses, so they became in
time a sort of unofficial notaries pub
lic.-Scientific American.