The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1921-01-10

lssS and in loss the hrss hark-pofs -
issued thr0ugh this instisuts0a.
1 Ia EngaAna, private banking With ~
galdSniths developed 70 very cccsSd-
srshat extent curing the ieth csntssy-
Bank in fsrt- originated = -
goaasrniths' receipt Of that day HI u
was not Enta 1894 that the Bsnk 81
Engssad. probAhiy The most fan0us
bank Z The world today. vas fcunded
By IRA the clearinghouse had ben
rs.nhisncd IN Rngsand and the Frlno-
pies Of modern banking had become
rrc.ty wei established IN the r1csa-
tirns- Scotland had established her frtt
Nsssonal Bank IN 1886. lrelsBd in ls&s
arc France IN i-ia The present Bank
81 Fnxncc was established ID the yesr
lsaa
In the American colonics mary sras2r
banking taF~<rn-nts were nssde. iacssu-
lng Numerous projects fcr SsslnS
paper nsaney. lsut BANKING IN the
[ 1nlsrd States did not begin unsi tAe
founding hy q number Of FhHsdelfAis
cstlsrns Of tht Bank Of Fcnnxyfssnss-
Its purpose was to supply the CeUts-
nentzl Army with rations It's trxt biaAs
issaed ID 1850 were simply interrst-tesr-
Eng neles naoe payable at future tir7e
The frst puhlir bank in this country
was fhe Bank of Ncsth America pro
rnosed by Robrrs Morris and authorized
| fy the ContzDc1tsl Congress ON May q.
li-si Becsuse ccnSdrnoe in the pro-
yisiesnsl gerernrnrns OF the Confederation
was lacking. -his bank began hakspess
sr i-ss unorr q charter isEHcS by ths
State Of Pennsylvania
In 1871. the Bsnx Of the JnRed
states vss Incorporated gs5cs tsc o.
rectznr genius OF Alexander Hxmaxaa-
Tins fskrsk csd b1s10ess until lsll, ~Acas
owing 10 pali-lc8l reasons ss cnartex
wzs n8t renewed In 1855. toe sern.d
hsnk Of the United States vAk fouDd<d.
KlniE bank 5oErishrl uztl lsSA vaen
Anarew Jsckson suspended cepeFih.
and X is4i II finally vrut out af hssi-
ness
In The meantime. hrEnrirg With sbe
Bank Of North America Stste Bseks
sad becr f1uD6ed N rlsnv places per-
rieularay after tie ciossng q The Yfrft
Bank 81 the Iritrd Sta*rs They slooe
fr-nisb-0 the bsrking facilities Of the
rrps-sry Until the establishment. n 1854
|rf Sstsoazl Banking Esusrn Tins
t~xsn the fundamentals Of cur present
Nstsoasi Bsnkinx Systezn- cplmieatfnx
|tn the founding ef the Ycasrsi Reserse
Bank In 1874
A minor tut irnpcr+srs rhsse Of DE-
post bank Development ID ths Ssriars
Bsnks. created TO receire the Ssrines
cf small 0erpsStors. Tb~v we're foH5-
ed generally bF heneresent persons for
thr purpose Of promoting thrift among
the poorer classes. These bsakk u,der
proper legal safeguard. nresf their de-
pesits 1T compound interest II is ~
trresting 70 nste fhsf this form 81 bank
ing was frst saxyrstod by Daniel Defoe
in 1857, tut none were sctnszy estst,-
aasss-d Until The lstter pax 81 the Isth
crzstGrs.
Tsse trsl 6.r-fo-rne-. cy u~ irscse-s
hznkIrs srss-rn i the trsssf eerpxsy.
which Is ponH-e6 xin,oet ezrigxrcfy 10
the Dsf~a States ard is q essx1h Of
fbe las. half of th> 18th crntur,< Th~
tr1as- c0Eapznx Te-s from the ordinary
51slk ef deposit u n1nr-oss ses<u-~s
i Is Incorporated arlr xod~r Ssssr Law
It EzaEsf dnsest capital IA 8-st-cssss se-
rurz1i-s s1Ao DEPOSIT ls.r< sraoxu.s
tii1st-o States or estr bo-ds WITH STATE
banking superintendent Il oo-, MOI
issue circulating rcses Il psTs irt~-ert
Or deposits Y rnsk-z lozrs op real -.
tate IL acts IL 1dnrisry capacity ~
exscuto'- ir'asset- receiver, agent 10,
s,1s'ioorstions- fsrsi sgent, xFeat hand
Ing srr-i.I@sk ssss cspokitofy ef -,