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Banks And Banking | by H. T. Easton



This small volume consists of a series of notes on the growth and development of banking in this country. The author has endeavoured to show how the deposit of money in a bank has developed into a complex system of finance, and also how capital, wielding an immense power in the present day, is largely under the management and control of our great banking institutions. The study of banking is of great importance when we consider how dependent the commercial world is upon the existence of a perfectly sound system. To understand the why and wherefore of credit, which forms the basis of banking, is an essential study for those who have adopted it as their profession.

TitleBanks And Banking
AuthorH. T. Easton
PublisherAberdeen Univebsity Press
Year1879
Copyright1879, H. T. Easton
AmazonBanks and Banking

Aberdeen Univebsity Press

Banks And Banking

By H. T. Easton

Associate Of The Institute Op Bankers 1st Gilbart Prizeman,

King's College, 1879 London Effingham Wilson Royal Exchange, E.C

-Preface
This small volume consists of a series of notes on the growth and development of banking in this country. The author has endeavoured to show how the deposit of money in a bank has developed into a com...
-Chapter I. Introduction
The study of banking is a subject of great interest, because the prosperity of this country is largely dependent upon the stability of our banking system. We might almost say that the entire capital ...
-Chapter II. Banking And Commerce
Banking is intimately connected with the trade of this country, and it is important to show that such is the case. If the trade of the country had not progressed, banking would not have attained its p...
-Chapter III. The Currency
It has been considered desirable to give a separate account of the note issues of this country, because at the commencement of the present century banking profits were to a great extent dependent upon...
-The Currency. Part 2
(5) Finally, all the laws which restrained the exportation of gold were abolished, and it was allowed to be exported or melted without incurring any liability. The Bank of England commenced paying of...
-The Currency. Part 3
On the 19th June, 1828, an Act was passed which enabled bankers in England to issue certain unstamped promissory notes and bills of exchange upon payment of a composition in lieu of the Stamp duties t...
-Chapter IV. Bank Act Of 1844
From and after 31st August the Issue Department of the Bank of England shall be separated from the Banking Department; that the Issuing Department may issue notes to the extent of 14,000,000 upon sec...
-Chapter V. Note Circulation Of Scotland
The note circulation of Scotland is peculiar to that of England because in the former country there is an issue of 1 notes. Thus in 1879, out of a total circulation of 5,522,000, no less than 1,974...
-Chapter VI. Note Circulation Of Ireland
The note circulation of Ireland was finally settled by the Act of 1845. The authorised issue, like that of the Banks of Scotland, was to be the average amount of the year ending 1st May, 1845. If any ...
-Chapter VII. Bank Of England
The foundation of the Bank of England is due to William Paterson, a Scotchman, who in 1693 proposed that the expenses of the war with France should be met by a national loan. Forty merchants subscribe...
-Bank Of England. Continued
The Government pays the Bank about 172,000 per annum for undertaking the entire management of the National Debt. This debt amounts to 589,147,000, and is divided amongst about 170,000 holders. Alth...
-Chapter VIII. Joint-Stock Banking
One of the reasons why joint-stock banks were allowed to be formed in this country was in consequence of the failure of many private bankers. Thus in 1793 one hundred stopped payment, the same number ...
-Joint-Stock Banking. Part 2
The joint-stock banks formed in London had to contend with great difficulties. These banks existed only in the form of an ordinary common law partnership and consequently in an action all the sharehol...
-Joint-Stock Banking. Part 3
Dec. 31, 1878. June 30, 1878. June 30, 1871. London and Westminster 21,490,000 26,760,000 22,770,000 Joint .... ...
-Chapter IX. The Private Bankers
The private bankers are steadily decreasing in this country. This is seen from the following table: - 1808 = 600 1810 = 721 1844 = 335 and 93 branch offices. ...
-Chapter X. Banking In Scotland
The Bank of Scotland was the first bank formed in that country. It obtained an Act from the Scotch Parliament on 17th July, 1695, which authorised the Crown to grant a Charter of Incorporation. Unlike...
-Banking In Scotland. Part 2
Assets. Banking Advances. Stocks and other Secs. Banking Premises. Reserves. Total Assets. 1865 54,878,548 ...
-Banking In Scotland. Part 3
(2) That the scheme of opening London offices is a departure of the most marked kind from the maxims which have hitherto guided them. (3) That the Scotch banks assuming responsibilities of London ins...
-Chapter XI. Banking In Ireland
Banking in Ireland resembles more the English system than the Scotch; because the monopoly of joint-stock banking was given to one institution, viz., the Bank of Ireland, which was formed ninety years...
-Chapter XII. Accumulation Of Capital In Banks
Having briefly considered the progress which the various banking institutions have made, we will now show the enormous increase of deposits in all the banks of the United Kingdom. Mr. J. G. Hubbard s...
-Chapter XIII. Banking And Commercial Crises
We shall now consider certain periods in the history of banking when its progress has been retarded. The great foundation of our banking system is confidence, but when by reckless speculation on the p...
-Banking And Commercial Crises. Part 2
It would be interesting if we could judge of Professor Jevons' opinion on the state of banking and commerce at a recent period, when there was an abundance of corn at a very low price concurrent with ...
-Banking And Commercial Crises. Part 3
The discussions on the currency, however, had a good effect, because the Bank Charter Act of 1844, which secured the convertibility of the note, was the outcome of such deliberations. After the Ameri...
-Banking And Commercial Crises. Part 4
There were a large number of joint-stock companies formed for the following projects, viz.: banks, railways, canals, gas, mining, insurance, etc. During the years 1836-1837 between 300 and 400 compani...
-Banking And Commercial Crises. Part 5
Prices In 1857 July, 1857. January, 1858. Bengal Silk . 15s. to 33s. 6d. . . l1s. to 24s. Tallow .... . 80s. . . 60s. Sugar .... Do...
-Banking And Commercial Crises. Part 6
Again, large sums of money are advanced upon stocks and shares, and this sometimes gives a fictitious value to those securities. When a sudden fall in prices takes place, the banker is liable to incur...
-Chapter XIV. The Rate of Discount
If a stranger to the great Metropolis visited the Bank of England on a certain day in the week, viz., Thursday, he would witness a sight which might somewhat puzzle him. He might observe in one of the...
-Chapter XV. Bank Of England Rate
There were many reasons why the Bank of England became the great central organisation for determining the value of money or capital in the market. We have already seen that it possessed the exclusive ...
-Bank Of England Rate. Part 2
The profit derived by the Bank from such issue is made from the securities which bear interest. The profit is, however, divided, the Government receiving 200,000. The money market is affected when g...
-Bank Of England Rate. Part 3
In October, 1878, came the crash of the failure of the City of Glasgow Bank. The Bank of England was in a good position to meet the emergency, and the threatened crisis passed away. The rate was never...
-Chapter XVI. Causes Of Fluctuations Of Rate
We will now consider the causes of fluctuations in the bank rate. They are of a varied character, in fact each year brings to light some new force which affects the value of money. The first great ca...
-Causes Of Fluctuations Of Rate. Part 2
Notes . 38.3 millions Securities 16.4 millions Gold . 21.9 - 38.3 Banking Department Capital and Rest ...
-Causes Of Fluctuations Of Rate. Part 3
Reserve. Rate of Discount. 1845-49 8.5 millions 3 11 4 1850-54 . . . 9.8 3 5 10 1855-59 8.5 4 14 ...
-Causes Of Fluctuations Of Rate. Part 4
Of coarse all these companies were not floated. Since the Companies Acts were passed 33,901 companies have been registered with a capital of 3,740,520,000. The year 1895 gave the following stupendous...
-Causes Of Fluctuations Of Rate. Part 5
We have been considering some forces or economic causes which tend to increase the value of capital in the market. There are, however, causes which have the effect of lowering the rate of interest. S...
-Causes Of Fluctuations Of Rate. Part 6
Again, the London banks soon ascertain how rates of interest are tending by the daily applications of the brokers. When capital is scarce in the market, the bill brokers visit the banks perhaps two or...
-Chapter XVII. Effect Of Changes In Rate
Having briefly considered the cause of changes in the rate of discount, we will now study some of the effects. Of these the most important would be in relation to the commerce of this country, because...
-Chapter XVIII. The Money Market In 1890
In order to afford a practical illustration of some of the forces which from time to time cause fluctuations in the rate of interest, we intend to give a short account of the money market for the year...
-The Money Market In 1890. Part 2
Of these returns the fourths of the months give us some idea as to the amount of bills in circulation, whereas those of the fortnightly settlements and the Consol settling days on the Stock Exchange i...
-The Money Market In 1890. Part 3
There was nothing, however, to show that a great stringency would take place in the autumn, although the reserve of gold in the bank was 1,000,000 less than in the previous year. In fact it was predi...
-Chapter XIX. The Present System Of Banking
When we consider the old system of banking with that of the present day we find that a great change has taken place. In early times the issue of bank notes was considered the essential part of a banke...
-Chapter XX. Bills Of Exchange
The history of the growth of English industry and commerce reveals to us a series of causes which have materially contributed in constructing a highly complex machine, which we designate as the produc...
-Chapter XXI. Early History Of Bills
The early history of bills is of great interest, because we learn that from a remote period a need was felt for something which should take the place of metallic money for the purposes of transmission...
-Chapter XXII. Modern History Of Bills
All the great changes connected with banking and credit documents have occurred during the present century. It has witnessed the formation of joint-stock banks and other kindred financial institutions...
-Modern History Of Bills. Part 2
According to a statement in 1881 by Mr. Pownall, the following were the proportions of cheques, bills, etc.: London Clearing Banks Cheques through the Clearing House . 71.313 per cent. ...
-Modern History Of Bills. Part 3
The late Mr. Newmarch in 1850 gave an interesting account of the London bill brokers who remitted bills to the country for the purpose of circulation: B, a banker at Lincoln, has a surplus of 50,000...
-Chapter XXIII. Bills And Commercial Crises
We have seen that the formation of banks and a great development in the use of bills of exchange acted as a stimulus towards increasing the trade of the country. On the other hand they have been utili...
-Chapter XXIV. Classification Of Bills
The different classes of bills with which banking is so intimately associated are varied in character. We have noticed that a great proportion of trade transactions are effected through the medium of...
-Chapter XXV. Development Of Bills
In conclusion we will briefly discuss some points of interest relative to bills which are of most importance in connection with the daily transactions of banks in these credit documents. In the first...
-Development Of Bills. Continued
It is important for a banker to know the position and liability of each party to a bill, so that, if necessary, he may be able to sue the right persons. When an inland bill is unpaid, it is considere...
-Chapter XXVI. Branch Banking
One of the distinctive features of modern banking is the establishment of branches throughout the country. This is shown in the tables prepared by Mr. James Dick for the paper read before the Bankers'...
-Branch Banking. Part 2
1881. 1891. Bank. Branches. Dividend. Branches. Dividend. % % Wilts and Dorset 64 22 83 22 ...
-Branch Banking. Part 3
Proportion Of Banks To Number Of Inhabitants 1872. 1886. 1887. 1888. Birmingham. 31,000 15,000 11,000 10,000 Bradford R...
-Branch Banking. Part 4
There is a great difference between a bank which has gradually become larger and one which, in consequence of many amalgamations, has doubled its deposits. It was recently stated by the official liqu...
-Chapter XXVII. Balance Sheets
The study of the half-yearly or yearly statements issued by the banks is of great interest, because we have, as it were, reflected in them the policy of bank directors with regard to the management of...
-Balance Sheets. Part 2
We have already considered whether it is advisable to extend this class of business. The last item in the balance sheet is bank premises, the usual custom being to reduce the amount gradually. With ...
-Finance and Banking Books
11 Royal Exchange, London. New Books. Just Ready. Maritime Law Illustrated in the Form of a Narrative of a Ship, from and including the Agreement to Build her until she becomes a Total Loss. By Alb...
-Finance and Banking Books. Part 2
The Stockbroker's Correspondent. Being a Letter-writer for Stock Exchange Business. Price 1s. Investor's Book-keeping. By Ebenezer Carr. Price i. The Juryman's Handbook. By Spencer L. Holland, Ba...
-Finance and Banking Books. Part 3
Histoire de la Politique Monetaire Statistique des Frappes et Mouvement des Metaux Precieux dans les principaux pays. Tome II. Price 5s. net. Birks, H. W Half-yearly Comparative Analysis of the Bala...
-Finance and Banking Books. Part 4
De Segundo, E The Rapid Share Calculator. For Calculating 1/8ths, tVths, and 3x.2nds. Price Kb. 6d. net. An ingenious mechanical contrivance for easily calculating fractional values. - Standard Do...
-Finance and Banking Books. Part 5
The Law relating to Company Promoters. Price 5s. Higgins, Leonard R The Put-and-Call. Price 3s. 6d. net. Higginson, Charles J Food and Drugs Adulteration: A Manual for Traders and Others. Being a ...
-Finance and Banking Books. Part 6
Mathieson, Fredc. C, & Sons. Monthly Traffic Tables; showing Traffic to date and giving, as comparison, the adjusted Traffics of the corresponding date in the previous year. Price 6d., by post 1d. Mo...
-Finance and Banking Books. Part 7
R0yle, William Laws relating to English and Foreign Funds, Shares and Securities. The Stock Exchange, its usages, and the Rights of Vendors and Purchasers. Price 6s. Russell, H. A. H The Mount Lyell...
-Finance and Banking Books. Part 8
An unusually interesting chronicle of financial events during the last ten years. . . We have not anywhere come across one so concise and yet so complete - Athtnaum. Wallach, Henry West African Ma...
-Finance and Banking Books. Part 9
The Duplex Combination Standard Code. Consisting of 150,000 Words. With a Double Set of Figures for every Word, thus affording opportunity for each Figure System of Telegraphing to be used. Every word...









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