The History of Whiteside County, Illinois from Its Earliest Settlement to 1908; Illustrated, with Biographical Sketches of Some Prominent Citizens Of

William W. Davis

General Books, 2013 - 290 pages

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...known banks were organized in the twelfth century. The Venetians seemed to be first, followed by the Genoese and the Florentines, in whae hands the business seemed to nourish most, until the founding of the bank of Amsterdam in the seventeenth century. This particular organization is named, as this was the model on which was formed most of the European banks now in existence. The banks organized under this law control the banks of the British Empire. Our National banking law is copied to a large extent from the joint. stock banking law of Scotland, and even the bank of England, organized for the expressed purpose of monopolizing the banking business of the realm, was soon compelled to recognize the leadership of the Scottish banks, and now the province of the bank of "Threadneedle street" is to act as a clearing house for the consolidated banks of Scotland. When it was thought wise to take steps to formulate a?ystem of finance to assist in the prosecution of the war of 1861, the then Secretary of the Treasury decided to submit for adoption a National banking law, and in doing so, chose as a model the Scottish banking laws, which were followed as closely as the conditions then existing would permit. Our present banking law was passed in the year 1863, but few banks were organized under it until the close of the following year. The First National Bank of Morrison was projected at this time, and its organization number was 1033, showing there were very few compared with the present number, and then those in operation were mostly in the eastern states. This was the first national organization in Whiteside county, and remained the only one for several years. There was none in Lee county, until this bank had been in operation a number...

Bibliographic information

• Title: The History of Whiteside County, Illinois from Its Earliest Settlement to 1908; Illustrated, with Biographical Sketches of Some Prominent Citizens Of
• Author: William W. Davis
• Publisher: General Books, 2013
• ISBN: 1230345248, 9781230345246
• Length: 290 pages