Wednesday, June 11, 2008

The Spread of Banking


The Bank of England was established in 1694, the Bank of Scotland a few years later, and those institutions were not long in finding imitators. As trade in the provinces increased substantial men began to feel the inconvenience of being their own bankers and retaining all their wealth in their oaken chests. Gradually they began to open accounts with some of the London bankers, which they utilized for their business transactions. Doubtless such men were beset by many friends and customers to accommodate them through their banking account, and thus the well to do trader developed into the country banker with his London agent, who much preferred to do business and incur carriage and postage with some one leading firm in a town to having several small customers in the same place. — Family Magazine.

Couldn't See It

"Has Bilkens' sight been completely restored?"
"The doctor thought so until he presented his bill, when he couldn't make Bilkens see that it was worth $200." — Chicago Inter Ocean.

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