Identifier: bankingancientmo00warnrich (find matches)
Title: Banking, ancient and modern ... together with full instructions as to the business methods of the Treasury Department at Washington, D.C. ..
Year: 1895 (1890s)
Authors: Warner, Willard Forester United States. Dept. of the Treasury
Subjects: Banks and banking
Publisher: (Chicago, From press of Lanward Pub. Co.)
Contributing Library: University of California Libraries
Digitizing Sponsor: MSN

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this union wasterminated. There are also num-bers of PeoplesBanks, credit soci-eties, AgrarianBanks, friendly soci-eties, etc., the PeoplesBanks increasing \ cryrapidly. The Imj:)erial Bankof Russia was foundedin i860, to regulatethe issues of currencyand aid commerce. Itscapital is subscribedby the Government,and it is managed by acommittee of the treas-ury. Its charter wasto run for twenty-eightyears. When founded,its capital was ^11,-875,000, and one ofits principal aims was to restore specie pajments. In 1864 the circulationhad a nominal value of $630,000,000, based on a specie reserve of but$43,330,000. In 1877-78 the currency was greatly expanded because ofthe Turkish war. The bank enjoys the sole privilege of issuing notes,and it has numerous branches. There are more than two hundredcommunal Russian banks. Greece has two modern banks, the National of Athens, with a capitalof 5540,000, and the Ionian Bank, at Corfu. Savings banks were known in IAirope as early as 1765, at which
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T. J. Gross, President, Galveston National Bank, Galveston, Texas 34 date there was one at Brunswick. In 1778 one was established atHamburg which still exists. In 1786 one was founded at Oldenburg, in1790 one at Loire, in 1792 one at Basel, in 1794 one at Geneva, and in1796 one at Kiel, in Holstein. In Tjigland the) had, a rapid growth.In 1799 Rev. Joseph Smith put into execution Jeremy Benthams sug-gestion by the establshment at Wendover of a frugality bank. In 1801Mrs. Priscilla Wakefield established a saxings bank in connection with afriendly society, and others followed rapidly. In 1817 so numerous hadthey become. Parliament passed a law for their control. Penn) bankshave lately been established in \arious cities of Great Britain. SaxingsBanks for the army were established in 1842, and for the nav\- in 1854.Several railway companies maintain savings banks for their employes.In Norwa\-there were twenty-two savings banks in 1840. and 311 in1880, of which 249 were rural. In Sweden the

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