A home geography of New York city . here. In The Bronx, 3d avenue is one of the principal business Bronx is mainly, however, a borough of homes and parks. In the boroughs of Queens and Richmond there are many farmsand market gardens and suburban homes. CHAPTER XI NEW YORK: THE NATIONS FINANCIAL CENTER New York is the financial center of the nation as well as thenations market place. As a financial center onr city has seenmany changes in the cur-rency used, from the old-time Indian wampum toour present Federalmoney. In early timespeople used wampum,beaver skins, grain, andthe coins
A home geography of New York city . here. In The Bronx, 3d avenue is one of the principal business Bronx is mainly, however, a borough of homes and parks. In the boroughs of Queens and Richmond there are many farmsand market gardens and suburban homes. CHAPTER XI NEW YORK: THE NATIONS FINANCIAL CENTER New York is the financial center of the nation as well as thenations market place. As a financial center onr city has seenmany changes in the cur-rency used, from the old-time Indian wampum toour present Federalmoney. In early timespeople used wampum,beaver skins, grain, andthe coins of many coun-tries. As 3^ears went bywampum lost its value,and beaver skins were nolonger plentiful. Tradeincreased and more goldand silver money wasused. Coins of manynations were in use andsome paper money ^• J-^^^-an.^k colony there was more English money in use than any otherkind, and it remained in use even after our country became theUnited States of America. We soon made our own money, however, 69. 70 (niKXJRAPHV OF XEW VORK CITY and called it Federal money. This is the money we use the 2:old coins and the silver coins. As the money interests of New York increased, business menfelt the need of a bank. The first bank was the Bank of New York, founded in 1784. Itwas opened in the Waltonmansion on Pearl street, andis the oldest bank in NewYork state. A bank is a greatconvenience for a businessman. He can put his moneyin a business bank it is not only safe, butwhen necessary he can orderthe bank to pay it out to someone he names. Instead ofpaying in cash for the goodshe buys as we do in the stores,he gives an order on his order on a bank to payout money that you havedeposited is called a you ever see a check? Ask your teacher to show you one andto tell how it is used. Banks also lend money. Ask your teacherhow a business man can borrow money from a bank. The banks we have been speaking of are not use
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