HIS113-9 Financial Services in Late 19th C - Banking

HIS113-9 Financial Services in Late 19th C - Banking -...

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Unformatted text preview: Banking and Financial Banking and Financial th Services Late 19 C Lecture Nine History 113 Banking Banking Exchange Before Banks (U.S. Bank Note 1837) Need for a common medium of exchange First Banks (Private) 1817 Montreal Bank Chartered Banks Government issued charters – Why? Banking Banking Operation of Early Banks Early Regulations (Bank of Acadia 1872/ Home Bank 1904) Development of Banks Mix of American and British Influences Banking Banking Problems/Issues: 1. Number and Size of Banks Needed Banks Localized in Area & Clientele 1. Role of Government in Banking Need for Increased Government Regulation? Bank Act 1871 Sets the regulatory environment for banking Banking Banking Expansion and Characteristics of Banking: System of large chartered banks Banks as savings institutions Growing demand for banks Small number of chartered banks (with branches throughout the country) Financial Services Financial Services Mortgage Loan Companies Life Insurance Companies Fastest growing financial service by 1890s Regulation Growth of the industry Stock Exchange Developed out of the growth of capital movement and investment ...
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This note was uploaded on 12/19/2010 for the course HISTORY 113 taught by Professor Lin during the Fall '09 term at Waterloo.

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