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Article: Banking
- Article from:
- Dictionary of American History
- Author:
CopyrightCOPYRIGHT 2003 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BANKING
This entry includes 9 subentries:
Overview
Bank Failures
Banking Acts of 1933 and 1935
Banking Crisis of 1933
Export-Import
Banks Investment
Banks Private
Banks Savings
Banks State Banks
Overview
The fundamental funct
ions of a commercial bank during the past two centuries have been making loans, receiving deposits, and lending credit either in the form of bank notes or of "created" deposits. The banks in which people keep their checking accounts are commercial banks.
There were no commercial banks in colonial times, although there were loan offices or land banks that made loans on real estate security with limited issues of legal tender notes. In 1781 Robert Morris founded the first ...