Banking, ancient and modern ..together with full instructions as to the business methods of the Treasury Department at Washington, . An attempt wasmade to close up theloose ends of the act of1709 by an amendmentintended to make thebanks monopoly moreexclusive. In 1745 the rebellionin Scotland was the causeof a run on the bank,and its notes fell to adiscount often per cent,but one thousand sixhundred merchantspledged themselves tosupport the credit of thebank notes, and the runwas stopped. In 1746the banks capital wasadvanced by fu r t h e rloans to the Governmentto i^ I 0,780,000. In1759
Banking, ancient and modern ..together with full instructions as to the business methods of the Treasury Department at Washington, . An attempt wasmade to close up theloose ends of the act of1709 by an amendmentintended to make thebanks monopoly moreexclusive. In 1745 the rebellionin Scotland was the causeof a run on the bank,and its notes fell to adiscount often per cent,but one thousand sixhundred merchantspledged themselves tosupport the credit of thebank notes, and the runwas stopped. In 1746the banks capital wasadvanced by fu r t h e rloans to the Governmentto i^ I 0,780,000. In1759 notes for ^15 andfor ^10 were first charter of the bank expired in 1764, and it was renewed uponthe absolute gift of i^i io,ooo to the nation, and a loan of ^1,000,000 onKxchequer-bills for two years at 3 per cent, the renewal of the charterbeing until twelve months notice after August i, 1786. In 1781 thecharter was again renewed upon the advance of ^2,000,000 at 3 per centfor three years, until twelve months alter August 1, i8i2,and the pay-ment of the public debt. In 1782 the capital was to £1 1,642, C. Kmporia National Bank. Emporia, Kansas. \ 25 The London Clearin*^ Mouse was established in 1773, and occupiedits buildiuij^ in Lombard street in 1775, but it was many years before theHank of Entj^land joined it. Up to this time the monopoh of the bank was nearly bankers now began to give customers blank check-books, andthe use of them in London became universal, entireh- superseding theuse of bank-notes and circunnenting the monopoly of the liink of the period of unusual industrial activity which followed thetermination of the war of 1713, England felt for the first time the greatneed of reliable banks ot issue other than the Bank of England. Its monopoly was com-plete, and to provide acurrency small shop-keepers and irrespon-sible persons turnedbankers and inundat-ed the country with amiserable curr
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Keywords: ., bookcentury1800, bookde, booksubjectbanksandbanking, bookyear1895
